lecture 1 notes

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University of Toronto Scarborough
Political Science
Francis Wiafe- Amoako

Lecture 1 notes Polb81h3Last semester we talked about the hardcore issues why states behaved in a certain way theories of international relationsHistory of states is a history of progress circumvent security dilemmaRealists talk about self defense liberalist build international institutions social constructivism says there is no anarchy international system is a social forum of behavior What is IPEo Is an emerging interdisciplinary approach to global problems o Addresses the nexus between international politics and international economics o What creates institutions and how they affect the market o Could state interest be assumed away when considered in economics issues and vice versa Essence of IPEo Political actions of states effect the economics of the state o States and markets characterize international political economy o Political decision making is influenced but what is economically viable o Collapse of Lehman bros in 08 world economic crisis IPE breakawayo The breakdown of the bretton woods system monetary system in 1971 in 1971 problem started as a result of the Vietnam war trade and BOP deficits higher demand for every dollar overseas investment o The oil embargoes in the 70s 7374 o P UN E WB IMF GATT Collapse of the bretton woods systemo Nixon unilaterally ended the direct convertibility of the us dollars into gold o Largely in response to us foreign policy serious incompatibility of the us international engagement and established a global financial system o Us put domestic political economic problems ahead of its international responsibilities
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