Module description
Trade is an issue that has always sat at the heart of political economy. While Adam Smith famously made the case for free trade, arguments in favour of an interventionist state that actively seeks to change areas of comparative advantage have never gone away. Meanwhile, other critics have argued that the trade system is exploitative of the developing world and deliberately structured in ways to preserve the dominance of Western, industrialised countries. This module engages with these timeless debates. It also provides a detailed examination of the World Trade Organisation and the crisis that it has experienced for the last decade. By completing this module, you will understand the contours of current tensions within the trade system, the debates concerning the distributional impact of global trade and why trade has been such a controversial topic since the creation of the discipline of political economy. The module draws from International Political Economy theory in places.
Assessment details
1,500-word book review or similar written assignment (35%), 2,500-word essay (55%), Seminar participation (10%)
Educational aims & objectives
This module aims to provide third year students with a detailed and advanced examination of the politics of international trade. It will engage critically with the evolution of the global trade system post WWII, the institutions that have governed that system, particularly the WTO and GATT, and the tensions that characterise this highly political process. Students may find that the theories of International Political Economy (IPE) / International Relations that they have learnt in other modules (notably 4SSPP106 World Politics, 5SSPP223 Issues in International Politics and 5SSPP237 An Introduction to International Politics, or equivalents elsewhere) will be useful and complement the analysis within the module. However, this is not a pre-requisite and it is possible to do well without such a background, though students should strongly consider reading a textbook on these theories in advance.
Learning outcomes
By the end of the module, students will be able to demonstrate the skills, knowledge, and methodological awareness commensurate with expectations for level 6 module participation. In particular, they will develop:
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An understanding of the contemporary problems of the global trade system and why the WTO’s ability to function as a site of trade negotiations is in crisis;
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The ability to think critically about how trade is governed and in whose interests;
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The ability to situate their own thoughts about how the trade system should function within established academic literatures and analytical approaches;
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An understanding of the impact that China and other so-called ‘rising powers’ are having on the global trade system.
Teaching pattern
Lecture Schedule – INDICATIVE ONLY. THINGS CHANGE.
Lecture 1: Introduction
Lecture 2: Liberal Trade Theory, comparative advantage and the gains from trade
Lecture 3: Industrialisation and protectionism
Lecture 4: From GATT to WTO: The institutions of global trade governance
Lecture 5: Trade and agriculture
Lectures 6: Trade and Intellectual Property Rights
Lecture 7: Trade and gender inequality
Lecture 8: Global Value Chains
Lecture 9: Mega-regionals
Lecture 10: Dispute Settlement
Suggested reading list
Key Readings
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George, Clive. (2010). The Truth About Trade. (Zed Books)
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Wilkinson, Rorden. (2014). What's Wrong with the WTO and how to Fix it. John Wiley & Sons.
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Chang, Ha-Joon. (2008). Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism.
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(New York: Bloomsbury)
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Amrita Narlikar, Martin Daunton, Robert M. Stern (2012). The Oxford handbook on the World Trade