1. What are the names of the three main competing philosophies in modern international political economy? 

·         Liberalism, mercantilism, and Marist perspective 

2. What are the main ideas in each of these philosophies? How do they compare with each other? 

·         Markets provide an automatic mechanism for production, states are and should be the main actors in the international economy, dependency (capitalist class sets the rules for the rest)  

3. What do we mean by the term “Washington consensus”? 

·         Emphasis neoliberalism, limited role of government in the economy. 

4. What is the history and purpose of the Bretton Woods system? 

·         Post WWII to preserve economic order, rebuild European economics after war. prevent a new great depression with closer international economic coordination.  

5. How have the goals of the Bretton Woods system evolved over time? 

·         Present purpose: manage the stability of the global economy and activity 

6. What are the main organizations in the Bretton Woods system? 

·         The international monetary fund, the world bank system, the world trade organization 

7. What is the role and history of each organization in the Bretton Woods system? 

·         IMF-exchange stability of exchange rates until 1971, financial assistance to member states for balance payment problems.

·         Give low interest loans to government or private entities for development projects. Made up of five  organizations (notes 13)

·         GATT until- 1995, Setting rules for international trade, 

·         Each Country must treat all of its WTO trade partners equally, world trade organization 

What is Joseph Stiglitz’s main argument about the Bretton Woods institutions? Are they successful or unsuccessful in their mission for global economic governance? 

·         Disconnects of intentions and policy aut…(sp?)

·         They are unsuccessful  

10. According to Stiglitz, which countries have the most influence in the IMF and the World Bank? What is the implication of this for IMF and WB policies? 

·         USA and Western Europe 

11. According to Stiglitz, which government officials from influential countries have the most impact in the IMF and the World Bank? What is the implication of this for IMF and WB decisions? 

·         Finance ministers, central bank governors- they have close links with business and fiancé committees, they promote these industries’ interest.  

12. According to Stiglitz, what is the main economic philosophy behind IMF and the WB decisions? Does this philosophy has positive or negative outcomes on IMF and WB beneficiaries? 

·         Sharp ideological shifts in IMF and WB toward neoliberism 

What are the causes of global poverty according to the orthodox/neoliberal approach and the critical/alternative approach? 

·         Orthodox/neoliberal- lack of economic resources in less developed countries

·         Critical alternative- lack of political empowerment for individuals 

2. What are the appropriate development policies that can reduce global poverty according to the orthodox/neoliberal approach and the critical/alternative approach? 

·         Orthodox/neoliberal- Modernization: effective integration if less developed countries in global market, emphasis competiveness, everyone fins there place , limited government 

·         Critical/alternative- integration in global market, but not at all costs. Local economies need empowerment and self-sufficiency; improve living conditions of individuals  

·         Orthodox/neoliberal food production cannot catch up with population growth

·         Critical/alterative- there is a sufficient quantity of food to feed global population 

·         orthodox/neoliberal- economic development increases access to food, reduces population growth

·         critical/alternative- rebuilding local, national or regional system of food production 

What are the Millennium Development Goals and what is their purpose? 

·         The reflect the new approach in to economic development

·         Goals

1.       Eradicate extreme poverty and hunger

2.       Achieve universal primary education

3.      Promote gender equality and empower women

4.      Reduce child mortality

5.      Improve maternal health

6.      combat HIV/AIDS, malaria and other diseases

7.      ensure environmental sustainability 

1. What are the positive and what the negative effects of globalization on the environment? 

·         Increased affluence leads to reduce birth rates; lowers number of consumers

·         Urbanizations, industrialization transportation increase, pollution, disruption in eco system

2. What is an international regime? 

·         Sets of norms and rules 

3. What are the main environmental issues in modern global politics? 

·         Sustainable development, Genetically Modified Organisms (GMOs), climate change

5. What are the milestone United Nations conventions on the environment? 

·         1972, Stockholm: UN Conference on Human Environment

·         1992, Rio de Janeiro: “The Earth Summit”  

·         2002, Johannesburg: World Summit on Sustainable Development

6. What is “sustainable development”? 

·         development that meets the needs of the present without compromising the abilty of future generations to meet their own needs 

7. What is the controversy over Genetically Modified Organisms (GMOs)? 

·         In European countries feel that these things will be harmful to the human population in the future, therefore they aren’t allowed to grow GMOs in those countries and also they won’t except imports from the US of things that are GMed. 

8. What is the “precautionary principle” and what is its role for the international GMO regime?

·         In the absence of conclusive scientific evidence that a substance is harmful

·         Governments can ban a substance or activity that may harm the environment, even in the absence of absolute scientific evidence that is harmful 

9. What is the controversy over climate change? 

·         Is it bc of humans? Or is it natural 

What is the international regime for the issue of climate change and which international agreement constitutes its foundation? 

·         The Kyoto protocol= reduce carbon emissions by at least 5.2%

1. What is the modern liberal conception of human rights? What are its two main principles? 

·         All humans beings posses rights, which are inalienable and unconditional

o   Right to life, freedom, speech property 

1. What do we mean by formal governance and formal rules in global politics? Can you give an example of a formal rule in global politics? 

·         Treaties, agreements and protocols, formal rules organize human activity 

·         Purpose is to reduce uncertainty. They organize human activity through strict/loose implementation of precise/imprecise rules. Examples of formal rules: voting rights, property rights.

2. What do we mean by informal governance and informal rules in global politics? Can you give an example of an informal rule in global politics? 

·         Norms, culture, shared understanding  

·         They underpin formal rules and they make cooperation easier

·         a leading state, like a large minority shareholder in a publicly held corporation, enjoys organizational advantages when it participate in decision making within international organizations: superior information, better access to the key agents and greater cooperation with its request.

3. According to Randall Stone, do international regimes include only formal rules, only informal rules or both? 

·         They include both, they co-exist 

4. According to Randall Stone, which countries tend to benefit from formal rules? 

·         Weak states benefit more 

5. According to Randall Stone, which countries tend to benefit from informal rules? 

·         Strong states benefit more 

·         he Executive Board, the Managing Direction and U.S. and other major “stakeholders” (Japan, Britain, Germany and France). Big states exercise more power.

2. Which countries have the most power in the IMF? Why? 

·         Bigger states have more power because they can use informal governance to dictate their influences in weaker states. The U.S. and the other major “stakeholders” hold the most power. They have more money and they have resources that other member states do not have.

3. What are IMF lending decisions about? 

·         The IMF lends to its member countries facing balance of payments problems in order to facilitate the adjustment process and restore member countries’ economic growth and stability through various loan instruments or “facilities”.

·         During lending decisions, the norm of avoiding voting means in practice that almost all proposals pass unanimously. In effect, the Executive Board ratifies whatever the IMF management proposes.

4. What do we mean by IMF decisions about general policy, institutional reform and constitutional changes? 

·         weighted distribution of formal voting power was diluted, because the large shareholders made an effort to build oversized coalitions, and preferably to reach decisions unanimously rather than impose their will by taking close votes.

5. Which types of IMF decisions are primarily subject to formal rules and which to informal rules?

·         Formal governance: general policies, institution reforms, and constitutional changes. All member states participate in decision and voting in Executive Board. (Staff compensation, capital controls and conditionality)

·         Informal governance: lending decisions, programs for countries in need of loans. Who exerts as influence? The Managing Director, the major stakeholders and special role of the United States. 

6. What is the role of the United States in lending decisions? 

·         US avoids voting and centralization of information 

·         The U.S. has tremendous informal advantage over any member state, numerous advantage in gathering information, has a more extensive diplomatic corps --- all advantages of having the IMF located in the United States capital.

1. Which are the most powerful actors in the WTO? What type of power do they exercise, formal or informal? 

·         The USA, European 

·         Member-state initiates a complaint against another member state, dispute panel is assembled 

·         Few formal rules

·         Informal rules

o   Hard for small countries to retaliate against EU and USA, but easy the other way around 

·         2/3 vote membership

·         Informal

o   Consensus rule, all exsisting states must approve, non-trade issues cannot be evoked 

1. What is the main purpose of the United Nations? 

·         Protect international peace and security 

2. What are the main principles of the United Nations Charter? 

·         Collective security- states must refain from attacking one another, if attacked they come to their defense. 

3. What are the main organizations in the United Nations system? 

·         The security council, the general assembly, the international court of justice, the economic and social council 

4. What is the role of each organization in the UN system? What tasks does it perform? 

·         The security council

o   Considers threats to peace and security- decide appropriate action

§  Blue helmets

·         The general assembly

o   Recommends and resolutions that are non-binding

·         The international court of Justice

o   Fifteen judges, UN members sates to accept ICJ jurisdiction