The Political Economy of Trade and Sanctions
Course Description Since the election of the 45th President of the United States trade wars and protectionism have been on the rise in western countries after decades of ever-growing economic interactions between countries. In this seminar, we will first review the political economy of trade and discuss the cost and benefits for the involved parties. Even though the standard economic perspective is that the increase of worldwide market liberalization is overall beneficial, there are winners and losers from globalization. We will discuss the main theories behind globalization in a political economy framework and assess which parts of the society gain or lose from increasing trade. Second, we will focus on statecraft in the form of sanctions. Restrictive economic measures gained increasing popularity to influence international politics and to force a target to change a perceived political misbehavior. Are sanctions an effective way to avoid war and yet impose high costs upon a target influencing their decisions? We will thus discuss the imposition and effectiveness of sanctions and additional side-effects of this foreign policy tool. Moreover, students will improve their academic writing and become familiar with quantitative methods. Learning Objectives – Students acquire the ability to put together a summary of existing research on a topic and to develop their own theoretical argument. – Students are able to design a research project and to collect and analyze data. Seminar paper: The goal of the term paper is to identify a puzzle, develop a theoretical argument to respond to the puzzle and to provide empirical evidence for the respective hypothesis. 5000 Words
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Write a Research Paper on a topic connected to The Political Economy of Trade and Sanctions (e.g. How effective are US sanctions in the China-US Trade War, How did Chinese economic Sanctions affect election results in the US, How is China influencing the Economy of South-Korea…)
Use the statistics program R to measure effects and find empirical results on for example the effectiveness of US economic or political sanctions on another state.