Course 2025-2026 a.y.

The course examines recent issues and trends in globalization through the lens of economic theories in international trade, political economy and some concepts of geo-politics and geo-economics. In particular, we will explore the origins of the recent rise of protectionism and populism in the US; the limits of the European response and its structural weaknesses, the new role of China not only in the global economy but also as a political actor in international relations, the risks and opportunities for the Russian Federation and increasing role of Saudi Arabia and other monarchies of the Middle East not only in the oil and gas global markets but also as political players with a increasing use of soft power to have a role in international political and economic relations. The course will equip students with skills to independently analyse new issues and policies related to global economy and geopolitics.

1) General introduction: the dynamics of globalisation process will represent the general framework of the course. This process will be approached from different perspectives: the interaction between advanced and emerging economies; the role of the national States and the supranational institutions in shaping the process but also in being influenced by it; the social dimensions of globalisation by paying attention to migrations.

2) The origins of new US trade policy and the impact of the introduction of tariffs on domestic and global markets.

3) The structural weaknesses of European Union, the difficulties in proposing a win-win solution to social and economic actors, and the populist and anti-European tensions spreading off in many State members

4) The Chinese economy from the manufacturing factory of the world to the global technological challenge as a weapon for a soft power strategy among many domestic economic and social contradictions that put at risk the social contract of the Chinese Communist Party

5) The role of Russia in the global economy and its structural transformation from a weak industrial superpower to a commodities producer amid political tensions and the ambition for a coming back in the establishment of a new world political and economic order.

6) The role of oil producing countries of the Middle East (for instance Saudi Arabia) in building a new (post oil) economic model based on tourism, big global sport events, and their ambitions in conditioning the international political relations in a larger geographical scenario

• Be familiar with the diversity of modern capitalist institutions.
• Be familiar with current debates about the globalisation process.
• Understand different national economic and political interests and their consequences for the global governance.

• Demonstrate knowledge of the globalisation and geopltical and geo-economic interdependence literature.
• Critically assess the debates about institutions and economic performance
• Apply appropriate essay/report writing skills.

• Lectures
• Guest speaker's talks (in class or in distance)
• Collaborative Works / Assignments
• Interaction/Gamification

The course is based on a continuous and active exchange between the instructor and the students. Each of the six topics above described will be provided in advance with short readings taken from newspapers and magazines (Financial Times, The Economist, The Wall Street Journal, etc.) that will be uploaded in Blackboard.

Attendance is compulsory and only a physical presence in the classrooms qualifies the attendance. In the first 6 meetings only one absence is admitted. In the last two meetings, when students’ presentations will take place, it is compulsory to attend at least the meeting scheduled for the team presentation.

Attending students will prepare a presentation on a country or a topic considered during the lectures connected with with the globalization process, the geopolitical and geo-economic issues. Topics can be proposed by the students and must require the agreement of the instructor. Teams composition and topics will be detailed in the syllabus.

Final written assessment (PASS/FAIL) which consists of: 

1. Multiple-choice questions, aimed to test the basic knowledge of the "varieties of capitalism" literature and of the debates about the relationship between institutions and economic performance.
2. Open-ended questions, aimed to assess students' ability to evalute how strategies and structures of firms are shaped by a given institutional framework.

Articles from newspapers and political and economic magazines and papers will be put at disposal before the lectures to permit the development of discussions and debates

1. A. Posen, New Economic Geography. Who profits in a post-American World, in “Foreign Affairs”, September/October 2025, pp. 26-43
2. S. K. O’Neil, The myth of the global. Why regional ties win the day, in “Foreign Affairs”, July/August 2022

1. M. Kimmage, The world Trump wants. American power in the new age of nationalism, in “Foreign Affairs”. March/April 2025
2. R. O. Keohane and J. S. Nye, The end of the long American Century, in “Foreign Affairs”, July/August 2025

1. M. Matthijs and S. Meunier, Europe’s Geo-economic revolution. How the EU learned to wield its real power, in “Foreign Affairs”, September/October 2023

1. M. Kofman and Andrea Kendall-Taylor, The myth of Russian decline. Why Moscow will be a persistent power, in “Foreign Affairs”, November/December 2021
2. Y. Gorodnichenko, I. Korhonen and E. Ribakova, Russian economy on war footing: A new reality financed by commodity exports, Centre for Economic Policy Research, May 2024

1. Z. L. Zongyuan China’s Real Economic Crisis. Why Beijing Won’t Give Up on a Failing Model, in “Foreign Affairs”, September/October 2024
2. A. Al-Haschimi and T. Spital, The evolution of China's growth model: challenges and long-term growth prospects, in “ECB Economic Bulletin”, Issue 5/2024

1. K. E. Young, The Myth of the Middle Eastern Economy. How Economic Fragmentation Has Insulated the Region from the War in Gaza, “Foreign Affairs”, July/August 2024