PSC 116G EXAM 2024 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Course
PSC 116G
Institution
PSC 116G
State Level Theories - ACCURATE ANSWERTheories of Foreign policy, not typically general theories. Different kinds of states in the world, categories based on shared characteristics.
Dyad - ACCURATE ANSWERPair of state
International political economy - ACCURATE ANSWER- the two-way relationship...
PSC 116G EXAM 2024
PSC 116G EXAM 2024 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
State Level Theories - ACCURATE ANSWER✅✅Theories of Foreign policy,
not typically general theories. Different kinds of states in the world, categories
based on shared characteristics.
Dyad - ACCURATE ANSWER✅✅Pair of state
International political economy - ACCURATE ANSWER✅✅- the two-way
relationship between international politics and international economics
- examines questions concerning the movement of goods, money, people, and ideas
across borders
- key questions: why trade + who gets the benefits of trade?
Trade - ACCURATE ANSWER✅✅powerful incentives for cooperation
,Globalization - ACCURATE ANSWER✅✅is a process in which: (1)
international trade increases relative to domestic trade (2) the time it takes for
goods, people, information, and money to flow across the border and the cost of
moving them is decreasing (3) the world is increasingly defined by a single market
rather than by many separate markets
Economic theories of IPE - ACCURATE ANSWER✅✅explanations that focus
on the type and intensity of interests of the actors
Political theories of IPE - ACCURATE ANSWER✅✅- explanations that focus
on the strategic and institutional environment in which interests are translated into
policy
- concerned about the distributional outcomes of policy
- who benefits (wins)?
- who gets hurt (loses)?
Economic market - ACCURATE ANSWER✅✅- composed of producers and
consumers of these goods and services
- is based on the supply produced by sellers and the demand from consumers
- without restrictions (i.e. Free market), the price of goods would be determined
solely by supply and demand
- problem: no such thing as a free market
- restrictions to the free market are set by politics
Free market - ACCURATE ANSWER✅✅- traditional economic models were
based on the assumption of operating in a free market
- economics and politics are deeply intertwined and can never be completely
separated from one another
- economics is fundamentally shaped by political decisions
, - laissez-faire economics: economy with reduced government restrictions on trade
and regulation
- similarly politics is fundamentally related to economics
Economic liberalism - ACCURATE ANSWER✅✅- primarily concerned on only
economics and the relationships among individuals, firms, markets, and
governments in the economic sphere
- individual interests will differ greatly from the state; represent constraints on state
behavior (especially powerful in open democracies = more peaceful states)
- economics come first, politics should serve the economic interests of the state
- foundation for economic determinism
Adam Smith - ACCURATE ANSWER✅✅- Wealth of Nations
- complex divisions of labor will lead to greater wealth for all
- free markets produce higher quality and efficiency (survival of the fittest)
- market produces an invisible hand effect directing economic relations (much
better + more efficient than government; basis for laissez-faire policies)
- general conclusion: individual self-interest produces social goods
- greater wealth for all is in any society's best interest
David Ricardo - ACCURATE ANSWER✅✅- applied Smith's insights to the
international economy and state-to-state trade
- free market should extend to international trade: unrestricted by tariffs (taxes on
imports)
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