The Global Economy

The Global Economy specialization will provide students with an understanding of the nature and functioning of the world economy and process of economic globalization, which will aid them in making sense of competing arguments (mainstream and heterodox) in respect of the alleged benefits and adverse consequences of these for developing countries.

Particular attention will be paid to the international division of labour, the globalized system of production, the process of development in developing countries, the international trading and financial systems, as well as the on-going turmoil in the global economy. Some of the important issues dealt with will include;

  • the changing structure of global production and the implications of this change for global employment and unemployment,
  • the increasing frequency and severity of global economic and financial ruptures,
  • the reasons for the current impasse in multilateral trade negotiations,
  • the problems besetting the euro and the US dollar and the concomitant rise of Asian currencies, and
  • the pressure for reform of international economic institutions such as the IMF and World Bank.

Double degree students from the University of Indonesia are required to have completed the introductory economics course ISS-1103 to follow this specialization.

Courses and readings

For a full description of all specializations, individual courses and indicative readings, please consult Part 3 of the Academic Calendar.

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