This lecture will analyse the economic performances of IMF and financial system with a focus on financial crises: Asia in 1997 and the global financial crisis from 2007.

1. RIR 405: INTERNATIONAL
ECONOMIC POLICY ANALYSIS
COURSE OUTLINE
SEPT - DEC 2022 SEMESTER

2. Course Description
This course provides the theoretical, historical, institutional and technical
background for effective advocacy of international economic policy.
The focus is on the political economy of international trade, foreign direct
investment, exchange rates, portfolio capital flows and the balance of
payments, industrial policy and international labor migration.
It is not a course on economics and students are not expected to have any
background in the study of economics though some economic concepts will
be employed and discussed.

3. Purpose of the Course
The aim of the course is to introduce
learners to the analysis of International
Economic Policies and their outcomes
or consequences

4. Course Objective
Building on the tools and methods developed in the core courses, this course:
analyzes fiscal and monetary policy and other topical issues.
The goal is to familiarize students to the rigorous applications of the theories and
methodologies in analyzing macroeconomic policies.
We will analyze the fiscal and monetary policies.
To a broader agenda, we will also take an excursion to the labor market, and the
international economics.
Rather than diving deep into a single topic, we will take a helicopter-tour approach.
Students will also be exposed to theoretical, numerical and empirical methods to
answer policy questions.

5. Expected Learning Outcome
On successful completion of this course, students will be able to:
Provide a balanced and coherent discussion of conceptual, methodological and
ethical issues underlying the identification, selection, implementation and evaluation
of a variety of micro and macro-economic policy proposals.
Apply what has been learned in International Relations to the description and
evaluation of either specific economic policies, or sets of economic policies, relating
to three major economic issues: innovation, inequality and environment.
Construct effective reports, both individually and in groups, of a professional
standard, to communicate the results of their analysis to non-economists.

6. Teaching Methodology
The course is conducted through a series of 3 hrs weekly seminars and class presentations
with an emphasis on interactive teaching aimed at engaging all students in active
participation
The weekly seminars will be semi-Socratic and experiential in approach so as to harness
the experience of the students and provide opportunity to develop skills through practice.
In addition to attending and participating in lectures and team presentations, students are
expected to engage in independent study throughout the course.
In doing so, the reading provided will be a vital resource but by no means exhaustive –
creative research and engagement with high quality media sources and publically available
government and other documentation are encouraged.

7. Course Requirements
An attendance roster is kept and students are expected to attend
all sessions on time and as scheduled.
Each student is expected to come to the class prepared to discuss
the week’s required reading materials.
All students are expected to actively share their knowledge and
readings of the theories and contributions of scholars of
international economic policy and to participate actively in the
class discussions.
To sit for the RATs, CAT and End Semester Examination.

8. Skills Development
This course will allow students to further develop the following skills:
presentation skills in team presentations,
professional writing skills through composing a term Paper that requires you to read
widely and synthesize multiple sources of information,
problem solving skills by exploring large amounts of information to provide decision-
relevant conclusions,
Reflective skills by critically evaluating and synthesizing competing conceptions and
intricacies in international interactions over the years
Information technology skills by using word processing for the Term Paper and group
presentation and on the internet to obtain further information on international economic
policy.

9. Key Institutional Academic
Policies that shall attract Penalties
Students should note that the following are the key policies as outlined in the
University Catalogue and Students Handbook.
ACADEMIC DISHONESTY:
Academic dishonesty includes: Any intentional giving or use of external
assistance during an examination without the express permission of the
faculty member giving the examination.
FABRICATION:
Any falsification or invention of data, citation or other authority in an
academic exercise.

10. Key Institutional Academic
Policies that shall attract Penalties cont.
PLAGIARISM:
This is the unauthorized representation of someone else’s thoughts, words and ideas
as if they were your own.
Students must acknowledge sources from which they adopt ideas through citation and
direct quotes must be indicated by the use of quotation marks.
PREVIOUSLY SUBMITTED WORK:
Presenting work prepared for and submitted to another course.
The university takes these cases seriously and violations may result in failure in the
course and in serious cases expulsion from the degree program.

11. Course Text
The following will be used as course texts and will be supplemented by other
books and academic journals as indicated under each topic:
1. O’Brien, R & Williams, Marc (2016): Global Political Economy: Evolution and Dynamics,
Red Globe Press, 5th Edition.
2. Alter, K.J. (2014). The New Terrain of Development. Princeton. Princeton University Press
3. Dixon, M. (2007) Textbook on World Economy. Oxford: Oxford University Press
4. Jones C.O, (1970) An Introduction to the Study of Public Policy, (California: Brooks/Cole
Publishing Company)
5. Klabbers, J. (2013). Globalization and Development. Cambridge: Cambridge University Press
6. Yew L. K, (2000) From Third World to First: The Singapore Story: 1965-2000, Times Media
Group, Singapore

12. Weeks 1: Introduction to Class
The first week introduces
the course,
its schedule,
the course assignments,
grading,
attendance policy, and
other formal course requirements.

13. Week 2: Introduction to International
Economic Policy Analysis
Conceptual and theoretical issues,
process and stages of International
Economic Policy making, formulation,
implementation, monitoring and
evaluation.

14. Weeks 3 & 4: International Economic Policy
Analysis for Africa and developing countries
This session will focus on the
challenges that face developing countries
in policy formulation, policy analysis and
implementation.

15. Week 5 & 6: International financial
institutions and economic statecraft
Policies and Strategies on International
Finance, International institutions and
economic performances of IMF and
financial system

16. Week 7
Continuous Assessment Test
(CAT)

17. Weeks 8 - 9: Global financial crises
This lecture will analyse the economic
performances of IMF and financial
system with a focus on financial crises:
Asia in 1997 and the global financial
crisis from 2007.

18. Week 10: Economic
development, inequality and foreign aid
What are the drivers of economic development
(policy, history, location, luck?)?
Do natural resources help or is there a 'resources
curse'?
How important is foreign aid in the process and
what features maximise its effectiveness?

19. Week 11: Globalisation
What has caused the (re)emergence of
globalisation?
Is globalisation helping reduce global poverty or
entrenching inequality (or both)?
Policies on Tariff and Non-Tariff barriers, trade
exchange rates, exchange rate policies for emerging
market economies

20. Week 12: Challenges on the horizon
This final session will discuss some of the contemporary policy
challenges. These could include issues such as the impact of:
technology (i.e. will robots take all our jobs?)
cryptocurrencies (will Bitcoin replace national currencies?).
Your suggestions for other issues to discuss are very welcome.
There will also be discussion of the final exam.

21. Weeks 13 & 14
Examinations

22. Course Assessment
 Informal assessment will occur throughout the course. Random Assessment Tests (RATs), peer
assessment and lecturer feedback will take place from time to time after exercises, and at the end of
each session students will be given an opportunity to reflect on what they have learnt during the
course of that session.
 Formal assessment
 Will take three forms:
 Individual Term Paper. Each student will discuss the range of policies that they would
prescribe to improve the economic performance of Amalepia, a hypothetical developing
country in Africa, which is pursuing an inward-looking strategy, with extensive controls on prices,
wages, interest rates, imports, capital movements and extensive state participation in the
productive system. Further they are expected to assume that Amalepia has serious balance of
payments and inflationary difficulties, declining per capita incomes with falling savings and
investment levels.

23. Submission of the Term Paper
The hard copy of the Individual Term Paper itself must be
submitted on November 8th 2022 during class time.
All papers must have a minimum length of 350 words and a
maximum length of 500 words (not including footnotes and
references).
You will in addition have to submit a soft copy of the same
through the convenor’s email address provided in class.

24. Formal Assessment
Team Presentations
 Students will be paired into project/Case Analysis presentation teams.
 The Teams will be allocated according to student preferences for
specific topics, as much as possible however, the convenor retains the
right to make final decisions on Team allocation according to
international best practice.
 Each team will present one Case Analysis on the allocated topic for the
week.

25. Theoretical Test & examination
A 11/2 hour continuous Assessment Test
and a 2 hours written examination at the
end of the Semester (in December) will
assess students' understanding of the
readings and the theoretical concepts.

26. Award of Marks
Types of Assessment Weighting
1. Attendance & Participation 05%
2. RATs & Group Presentation 10%
3. Continuous Assessment Tests 15%
4. Final Examination 70%
Total 100%