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IPE Week 1 lecture note

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This document provides an introduction and overview of the subject area of International Political Economy (IPE), detailing its evolution, theoretical approaches, and key historical contexts. Key Sections: Introduction to IPE: Defines IPE as the study of interactions between markets and po...

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  • July 11, 2024
  • 4
  • 2022/2023
  • Class notes
  • Dr julia calvert
  • All classes
  • Unknown
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IPE week 1



IPE is that:

 the study of interactions between markets and politics
o the influence of markets on politics
o the influence of politics on markets.



World Economy: Pre-1914

 Mercantilism
o Political power equated with wealth, and vice versa
 Extension of global markets
o Industrial revolution and technological advances
o International division of labour (Colonialism)
 Yet fundamental composition and direction of international trade
remained unchanged for ~ three centuries
o Tariffs were a barrier to goods trade
o Capital and people moved freely




 Gold Standard
o Fixed exchange rate

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