Podcast
Questions and Answers
What has contributed to the heightened significance of private actors in the global economy?
Which event led to a renewed interest in the study of political economy in the 21st century?
What major challenge has recently emerged for the multilateral economic order?
Which of the following issues is NOT typically associated with concerns in political economy?
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What question does International Political Economy seek to address?
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How did the 1970s impact global economic stability?
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The Covid-19 pandemic highlighted which aspect of the global economy?
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In terms of economic relations, what does the term 'North-South' typically refer to?
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Study Notes
Current Themes in Political Economy
- Interdependence of countries due to globalization - movement of people, finances, goods, and services
- Rapid transmission of economic developments globally
- Challenges to the multilateral economic order: strained relations with China, Russian invasion of Ukraine, and rising nationalism
- Increased influence of private actors in the global economy
Importance of Studying Political Economy
- Period of relative stability after WWII, followed by economic recovery in Europe
- The 1970s witnessed significant economic instability - oil crises, inflation, and the Vietnam War
- Renewed interest in the global economy due to these turbulences
- Focus on the influence of politics and power in global economic systems
2008 Global Financial Crisis and Its Impact
- Resurgence of interest in political economy after the crisis
- Uneven economic recovery and rise of nationalist leaders caused concerns about globalism's future
- COVID-19 pandemic highlighted the resilience and vulnerabilities of global supply chains
Key Concerns of Political Economy
- International trade and economic relations
- East-West and North-South divides
- Challenges faced by developing countries
- Energy security and environmental issues
- Labor conditions and gender equality
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Description
This quiz explores the interdependence of countries in the context of globalization, highlighting the rapid transmission of economic developments and the challenges faced by the multilateral economic order. It also examines the historical significance of political economy during pivotal events like the 2008 financial crisis and the COVID-19 pandemic.
