International Political Economy
welfare consequences correct answers consequence to the aggregate welfare of the
society. Total gain of wealth by the society
distributional consequences correct answers distribution of who is making the money.
Who wins and who loses.
Two dimensions of disagreement between IPE scholars: correct answers Relative
importance of domestic versus international forces
Relative importance of state versus societal forces
International political correct answers emphasizes global geostrategic and diplomatic
environment. The inherent conflict among states in an anarchic world
International economic correct answers emphasizes global socioeconomic factors.
Technology, telecommunications, finance, production, population, environment
Domestic institutional correct answers emphasizes the role and institutions of the state.
Downplays the constrains emanating from the international system and from domestic
societies
Domestic societal correct answers emphasizes economic and sociopolitical actors, not
political leaders. National Policy is determined by the demands of individuals, firms, and
groups
Realism Key assertions correct answers -international system is anarchic
-The state is the principle actor
-state is rational unitary actor
-Top priority: survival and security
-States concerned about relative not absolute gains
-Politics over economics
3 Propositions of "modern" mercantilism correct answers 1. Economic strength is a
critical component of national power
2. Trade valued only for exports
Governments should minimize imports
3. Some forms of economic activity are more valued than others
Marx:
Two key assumptions: correct answers 1. The value of manufactured goods is
determined by the amount of labor used to produce themselves
welfare consequences correct answers consequence to the aggregate welfare of the
society. Total gain of wealth by the society
distributional consequences correct answers distribution of who is making the money.
Who wins and who loses.
Two dimensions of disagreement between IPE scholars: correct answers Relative
importance of domestic versus international forces
Relative importance of state versus societal forces
International political correct answers emphasizes global geostrategic and diplomatic
environment. The inherent conflict among states in an anarchic world
International economic correct answers emphasizes global socioeconomic factors.
Technology, telecommunications, finance, production, population, environment
Domestic institutional correct answers emphasizes the role and institutions of the state.
Downplays the constrains emanating from the international system and from domestic
societies
Domestic societal correct answers emphasizes economic and sociopolitical actors, not
political leaders. National Policy is determined by the demands of individuals, firms, and
groups
Realism Key assertions correct answers -international system is anarchic
-The state is the principle actor
-state is rational unitary actor
-Top priority: survival and security
-States concerned about relative not absolute gains
-Politics over economics
3 Propositions of "modern" mercantilism correct answers 1. Economic strength is a
critical component of national power
2. Trade valued only for exports
Governments should minimize imports
3. Some forms of economic activity are more valued than others
Marx:
Two key assumptions: correct answers 1. The value of manufactured goods is
determined by the amount of labor used to produce themselves
