Global finance is big business. Around $5 trillion is traded in the foreign exchange markets each day. In this world order, capital moves from one location to another increasingly unhindered by government controls. Bond rating agencies issue judgments on the bonds of foreign governments, affecting their cost of borrowing and the lives of millions.
This module examines the world of contemporary global finance from a political perspective. The module enables you to recognise the profoundly political nature of financial relationships and to understand how finance interacts with other areas of life.
The module will focus in particular on the origins, analysis and consequences of financial crises. Topics covered include manias, panics and crashes, the problem with banks, rating agencies, war finance, and emerging markets. The class does NOT address issues of aid or development.
Informed by a mix of international political economy and social theory, the module focuses on the analysis of global financial politics, with fundamental questions about power, hegemony, social control, and the evolving dynamics of capitalism amongst its central concerns. If you are interested in these aspects of global finance, then this is the right module for you.