2017 Exam Commentary PDF

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Examiners’ commentaries 2017Examiners’ commentaries 2017IR3026 International political economyImportant noteThis commentary reflects the examination and assessment arrangements for this course in the academic year 2016–17. The format and structure of the examination may change in future years, and a...

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Examiners’ commentaries 2017

Examiners’ commentaries 2017 IR3026 International political economy

Important note

This commentary reflects the examination and assessment arrangements for this course in the academic year 2016–17. The format and structure of the examination may change in future years, and any such changes will be publicised on the virtual learning environment (VLE).

Information about the subject guide and the Essential reading references Unless otherwise stated, all cross-references will be to the latest version of the subject guide (2011). You should always attempt to use the most recent edition of any Essential reading textbook, even if the commentary and/or online reading list and/or subject guide refer to an earlier edition. If different editions of Essential reading are listed, please check the VLE for reading supplements – if none are available, please use the contents list and index of the new edition to find the relevant section.

General remarks Learning outcomes At the end of the course, and having completed the Essential reading and activities, candidates should be able to: •

demonstrate an understanding of the processes of global integration and fragmentation in international politics and economics

•

show what the sources are of continuity and change in international political economy

•

demonstrate an appreciation of the history of thought in international political economy

•

distinguish between, and critically evaluate, different theoretical approaches to international political economy

•

explain the different roles of states, international organisations and non-state actors in the politics of international economic relations

•

show an understanding of the economic challenges facing states in their foreign policy.

Planning your time in the examination It is important that you plan your time carefully in the examination. You should take care to produce the required number of answers; in this case, three out of 10. Good marks in three or fewer answers cannot make up for missing marks, and this is likely to lead to a fail. You will have your own preferences for planning each of the four answers. It is generally advisable to take a few minutes at the beginning to set out the basic structure of the answer. It need not be overly detailed but should contain the main points and subheadings of an answer.

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What are the examiners looking for? The examiners are looking for your ability to understand the question as it appears in the examination paper. This means not merely understanding the material to which it refers, but also the suggestions as to how to use that material, so that the answer precisely responds to the question as set. You should critically reflect on the core theories and concepts that make up the discipline, and especially those that are referred to in the questions. Since time in the examination is limited, you should be careful to be relevant and resist going off on irrelevant digressions. This requires being disciplined in the use of illustrative material; this may be necessary but should not be overextended. Linguistic skills are also necessary; you should have a feel for the meaning and subtleties of words, as well as the identification of possible ambiguities in the wording. Good answers can use such ambiguity to identify more than one way of answering the question. Doing this attracts good marks. The best-prepared candidates will always be able to respond to the subtleties of a question in the examination hall and will therefore not rely on model answers. This capacity depends on knowing the material and, of course, having good linguistic and literary skills. The examiners also look for a familiarity with the relevant literature. This may be acquired through wide reading, but can be approached by remembering the people to whom ideas are attributed in the subject guide or in general texts such as: Economides, S. and P. Wilson The economic factor in international relations: a brief introduction. (London: I.B. Tauris, 2001) [ISBN 9781860646638]. Gilpin, R. Global political economy: understanding the international economic order. (Princeton: Princeton University Press, 2001) [ISBN 9780691086774].

You should always try to read as widely as possible.

Key steps to improvement There is no simple way to improve. Immersing yourself in the literature is a good first step. When reading new articles or books, ask yourself questions and select those chapters that are most relevant. It is always a good idea to keep past examination questions in mind when selecting and studying new reading material. Beyond that is the need to debate and discuss the subject with others, including fellow candidates. Good candidates are avid readers of newspapers and journals, and are familiar with ways of accessing these, if necessary, online. This is not always possible but should be attempted. The internet is one of the most important resources now available to the student of international political economy. But beware, the internet also provides access to materials that are not of proper academic standard. It is always preferable to work with texts published in widely respected journals and book series.

A note on the Examiners’ commentaries The ‘Comments on specific questions’ which accompany these ‘General remarks’ are not intended as indications of model answers but as suggestions as to how a good answer might be produced. There could be other ways to achieve this, and you are encouraged to come up with your own answers. Remember, the examiners are interested not so much in your personal opinions but in properly developed and substantiated arguments that relate to the relevant literature and show an awareness of both the theoretical and empirical dimensions of the subject. Most

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importantly, answer the question and do not simply rely on a rehearsal of bits of knowledge from the subject guide that may, or may not, be relevant to the question.

Examination revision strategy

Many candidates are disappointed to find that their examination performance is poorer than they expected. This may be due to a number of reasons, but one particular failing is ‘question spotting’, that is, confining your examination preparation to a few questions and/or topics which have come up in past papers for the course. This can have serious consequences. We recognise that candidates might not cover all topics in the syllabus in the same depth, but you need to be aware that examiners are free to set questions on any aspect of the syllabus. This means that you need to study enough of the syllabus to enable you to answer the required number of examination questions. The syllabus can be found in the Course information sheet available on the VLE. You should read the syllabus carefully and ensure that you cover sufficient material in preparation for the examination. Examiners will vary the topics and questions from year to year and may well set questions that have not appeared in past papers. Examination papers may legitimately include questions on any topic in the syllabus. So, although past papers can be helpful during your revision, you cannot assume that topics or specific questions that have come up in past examinations will occur again.

If you rely on a question-spotting strategy, it is likely you will find yourself in difficulties when you sit the examination. We strongly advise you not to adopt this strategy.

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Examiners’ commentaries 2017 IR3026 International political economy – Zone A

Important note

This commentary reflects the examination and assessment arrangements for this course in the academic year 2016–17. The format and structure of the examination may change in future years, and any such changes will be publicised on the virtual learning environment (VLE).

Information about the subject guide and the Essential reading references Unless otherwise stated, all cross-references will be to the latest version of the subject guide (2011). You should always attempt to use the most recent edition of any Essential reading textbook, even if the commentary and/or online reading list and/or subject guide refer to an earlier edition. If different editions of Essential reading are listed, please check the VLE for reading supplements – if none are available, please use the contents list and index of the new edition to find the relevant section.

Comments on specific questions Candidates should answer THREE of the following TEN questions. All questions carry equal marks.

Question 1 Critically assess the claim that globalisation is not a new phenomenon in the history of the global political economy.

Reading for this question Chapter 1 of the subject guide provides an introduction to the literature and debate on globalisation. Further relevant reading on this topic includes: Bordo, M., B. Eichengreen and D. Irwin ‘Is globalization today really different than globalisation a hundred years ago?’, NBER Working Paper 7195, 1999. Hirst, P. and G. Thompson Globalization in question: the international economy and the possibilities of governance. (Cambridge: Polity, 2009) third edition [ISBN 9780745621647]. Scholte, J.A. Globalization: a critical introduction. (Basingstoke: Macmillan, 2005) 2nd edition [ISBN 0312236328].

Approaching the question This question is essentially about the historical dimensions of globalisation. While some of the debate on globalisation seems to suggest that it is an entirely new phenomenon, starting roughly in the 1970s, historians have pointed to the longer history of global economic integration, stretching back at least to the 19th century, or colonial days, or even earlier periods of global economic integration. The question thus asks candidates to establish whether globalisation is not a new phenomenon, and whether historians that trace it back beyond the 1970s are right or not. In a first step, the answer would need to identify important periods of global

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economic integration and disintegration. Thus, the global economy disintegrated in the years following the Great Depression of the early 1930s, but underwent a high degree of global integration in the late 19th century and in the run up to the First World War. One can also point to earlier periods of global integration, for example, in the era of colonialism, when countries such as Spain or England integrated vast parts of the world into one colonial system. Having established a broader historical view of globalisation, candidates would then need to establish if the more recent experience of globalisation is different to previous ones, and in what way. A good answer would identify specific contemporary trends, for example, in the areas of international investment, financial integration and so on, that mark out the modern experience of globalisation, and contrast those with the more limited forms of integration characteristic of earlier periods.

Question 2 Why do many states continue to pursue protectionist policies despite the widespread acceptance of the free trade doctrine among economists?

Reading for this question Chapter 2 of the subject guide offers an introduction to the mercantilist tradition and theories of protectionism, while Chapter 3 introduces the liberal tradition and free trade theories. Useful texts on this topic include: Helleiner, E. ‘Economic nationalism as a challenge to neoliberalism? Lessons from the 19th Century’, International Studies Quarterly 46(3) 2002, pp.307–29. Irwin, D.A. Against the tide: an intellectual history of free trade. (Princeton: Princeton University Press, 1996) [ISBN 9780691058962]. Mayall, J. Nationalism and international society. (Cambridge: Cambridge University Press, 1990) [ISBN 9780521389617].

Approaching the question To answer this question, students need to explain both the essence of the free trade doctrine that most economists have come to agree on and the continued relevance and appeal of protectionist policies in the contemporary context. A good way to start would be to introduce the key tenets of free trade thinking and why liberals advocate against the use of protectionism. A brief review of this would suffice. This is not the place to go into much detail about the liberal tradition and how it has evolved. Instead, candidates should move on to consider the reasons for protectionism (e.g. the infant industry argument and distributional effects of free trade) and focus on the reasons that may lead states to pursue protectionism today. A good answer would not only put the explanations and reasons for free trade and protectionism next to each other, but also identify the contemporary conditions under which it may be beneficial, even if only in the short term, for states to pursue protectionism. This could involve a discussion of the use of protectionism as part of developmental strategies, and also the need for politicians to appeal to domestic interest groups that may prefer mercantilist-style protection against increased international competition.

Question 3 Are liberals right to argue that compliance with international economic regimes is ultimately in the self-interest of states?

Reading for this question Chapter 3 of the subject guide provides background on the liberal tradition, and particularly on the theory of international regimes. Other 5

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useful discussions of the liberal theory of international regimes are to be found in: Hasenclever, A., P. Mayer and V. Rittberger Theories of international regimes. (Cambridge: Cambridge University Press, 1997) [ISBN 9780521598491] Chapter 3. Keohane, R.O. After hegemony: cooperation and discord in the world political economy. (Princeton: Princeton University Press, 1984) [ISBN 9780691022284]. Keohane, R.O. and J.S. Nye Jr. Power and interdependence. (New York, Harlow: Longman, 1989) [ISBN 9780673398918]. Krasner, S.D. (ed.) International regimes. (Ithaca, NY: Cornell University Press, 1983) [ISBN 9780801492501].

Approaching the question This question requires candidates to consider the liberal claim that the creation of and compliance with international economic regimes is in the self-interest of states. To answer the question, you should both present the reasons behind this liberal argument and consider how convincing the claim is. It is important to focus specifically on more recent liberal theories of international cooperation and regimes in the context of this question. A weak answer would simply describe the liberal theory of international political economy. A satisfactory answer would focus more clearly on the specific claims that liberals make about the nature of international regimes, the reasons behind their creation and the effect they have on state behaviour. In this context, candidates should explain why it is that states would voluntarily restrict their sovereignty and be bound by international regimes in order to gain certain economic benefits from membership in such regimes. The answer also requires candidates to evaluate these arguments, to show how convincing they are or to specify the specific circumstances in which they are valid. An excellent answer would do this and draw on a wider range of theoretical arguments, from the mercantilist and Marxist traditions, to consider the validity of the liberal claim and potential counterarguments.

Question 4 Critically assess the Leninist view that the global spread of capitalism inevitably leads to imperialism, international conflict and war.

Reading for this question Background on the Marxist tradition in International Political Economy (IPE) can be found in Chapter 4 of the subject guide and: Economides, S. and P. Wilson The economic factor in international relations: a brief introduction. (London: I.B. Tauris, 2001) [ISBN 9781860646638] Chapter 4.

A useful guide to the evolution of Marxist thinking on imperialism throughout the 19th and 20th century, including Leninism is: Brewer, A. Marxist theories of imperialism: a critical survey. (London: Routledge, 1990) 2nd edition [ISBN 9780415044691].

For Lenin’s 1917 text which offers the classic formulation of his theory of imperialism, see: Lenin, V.I. Imperialism: the highest stage of capitalism. (1917) available at: www.marxists.org/archive/lenin/works/1916/imp-hsc/

Approaching this question This question requires candidates to present and evaluate the Leninist theory of imperialism as a subcategory of the Marxist tradition in IPE. 6

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The focus is on Lenin’s central claim that capitalism leads countries to expand abroad to capture new markets for their industries, leading to imperialist competition that brings different capitalist countries into conflict with each other, thereby leading to international conflict and war. Candidates should be able to explain the logic behind this argument and a good candidate would also situate it within the broader context of the Marxist and neo-Marxist tradition of IPE. However, the point is not to rehearse the entire evolution of Marxism but to focus specifically on the theory of imperialism and international conflict. In evaluating Lenin’s theory, candidates may wish to consider its internal consistency but should also refer to the historical evidence for or against it. Candidates should examine the First World War and its origins, and also the aftermath of the war and the reconciliation among capitalist countries, in addition to the subsequent decolonisation after the Second World War.

Question 5 If the GATT system was designed to promote freer trade relations among its member states, why did it allow for so many exemptions from free trade?

Reading for this question The General Agreement on Tariffs and Trade (GATT) trading order is covered in Chapter 5 of the subject guide. Other useful texts include: Bhagwati, J. Protectionism. (Cambridge, MA: MIT Press, 1988) [ISBN 9780262521505]. Gilpin, R. Global political economy: understanding the international economic order. (Princeton: Princeton University Press, 2001) [ISBN 9780691086774] Chapter 8. Hoekman, Bernard M. and Michel M. Kostecki The political economy of the world trading system: the WTO and beyond. (Oxford: Oxford University Press, 2009) third edition [ISBN 0199553777]. Ravenhill, J. (ed.) Global political economy. (Oxford: Oxford University Press, 2014) 4th edition [ISBN 9780199666010] Chapter 5. Ruggie 1993

Approaching the question To answer this question, candidates need to show an understanding of how the GATT was created and its role in promoting trade liberalisation among its members, as well as the specific provisions of the GATT that allow for exemptions from free trade. A good way to start the answer would be to describe the main features of the GATT trading order, its creation in the post-war era and how it gradually came to be accepted as the main platform for trade liberalisation. This should be kept brief as the main focus is on the role that exemptions play in giving the GATT flexibility. Based on this, candidates may then focus more specifically on the specific exemptions that the GATT provides, from the safeguards clause to various rules on protecting environmental objectives. The answer needs set out the main reasons why these exemptions were included in the GATT, which is a reflection of varying national interests but also a design feature of the GATT as it allowed its members to adjust to ever freer trade gradually and with full domestic support.

Question 6 Was the global financial crisis of 2007-08 avoidable?

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