Directions
Answer one of the two questions under Part A (using 500-700 words), and also answer one of the two questions under Part B (1500-2000 words); do not answer all questions. Please use Times New Roman, 12 point font, 1 inch margins, and 1.5 or double spacing. Students may not consult other students or any other individuals. They may, however, use any resources they would like – including course readings, notes, and materials, as well as materials they may find online or in a library.
Part A – Short questions (500-700 words)
- What is the embedded liberalism compromise? Explain how it is evident in the post-World War II international monetary regime. Answers should cover some of the major economic crises, and make reference to the operation of International Financial Institutions.
- What is the “exorbitant privilege” bestowed on the US by virtue of the dollar being the global reserve currency? Name the major benefits and costs associated with this status.
Part B – Theories of International Political Economy (1800-2000 words)
- Choose a current global political economy news story that involves more than one nation. Briefly state what is going on and why; that is, what is the issue, concern, conflict, or cooperation about, and what seem to be the motives of those involved? Then analyze the issue from both the Neo-mercantilist (Economic Nationalist) and the Liberal perspectives. Considering each country or group of countries involved, in turn: Would theorists from each perspective be supportive of the country/ group of countries’ actions? What would they agree with and not agree with? What would they recommend instead? How would views vary within each perspective?
- Choose an international economic institution (examples: WTO, IMF, World Bank, EU, MERCOSUR. What is the mission/ goal of the institution? Analyze the mission and goals from Realist and Liberal perspectives. Would theorists from each perspective support the institution, and any particular state’s participation in it? Why or why not?
Responses should adhere to the following guidelines:
- Be sure to fully answer all parts of the question
- Be sure to respect the word counts, using your word processor’s ‘Word Count’ feature.
- Use in-text citation format, as opposed to footnoted citations. For example:
- “Existing research demonstrates this fact (Baker and Cole 2010; Stanton 2012).”
- “This has been shown, for example, by Baker and Cole (2010) and by Stanton (2012).”
- Include a bibliography with complete citations. Label this section ‘References.’ It will not count against your total word count.
- Write concisely and to cite correctly.