Assessment Plan – Global Political Economy – 470.605.51.SP26

Format Requirements for written assignments.

-     Double-spaced or 1.5 spaced, 12point font, one-inch margins, Word format (or readable with Word). Include page numbers.

-    All written assignments require the use of proper referencing.  Use Chicago style, either

parenthetical or footnotes depending on your personal preference.  All assignments should contain a bibliography/ list of references.

-     Pay attention to the proper use of spelling, punctuation, and grammar.

-    Being able to write concisely is an important skill to learn, thus it is important to stick to the word limit for the assignments.

Assessment #1: Quizzes

Due: Given out at the start of class each week, during weeks 3 -14

Weighting: 10% (12 in-class quizzes, lowest two scores are dropped, and each of the remaining 10 contributes 1% of the student’s final grade)

Covers material: Weeks 2-14 (there will be no quiz administered during the week 2 class; the week 3 quiz will encompass material from both weeks 2 and 3)

Assignment Overview:

For weeks 3-14, students will complete a short quiz intended to test comprehension of the required readings. Each quiz will be given in-person at the start of each class, beginning week 3 (during the   first 10 minutes of class). Students arriving after the first 10 minutes may not take the quiz; students arriving late will have less time to complete the quiz. You may only take each quiz once.

You should view this assignment as an opportunity for a check-in on your understanding of the course material.  The lowest two quiz scores will be dropped.

Guidelines

Directions:

Quizzes will primarily consist of multiple-choice questions but there will also be some short-answer questions.

Scoring

The scoring will vary each week depending on the number of questions (between 5-10), but each week will be weighted the same (1%) in your overall grade.

Assessment #2: Take-Home Exams

Due: Take Home Exam #1 due on February 12th  at the start of week 4 (covering material from weeks 1-3); Take Home Exam #2 (on Trade, Monetary Relations, Debt, and Crisis) due on April 16th at the start of week 10 (covering material from weeks 1-9).

Weighting: 40% (20% for each of the two exams)

Covers material: Weeks 1-3 on Theoretical Perspectives (Take Home Exam #1); Weeks 1-9 on Trade, Monetary Relations, Debt, and Crisis and applications of theoretical perspectives to them (Take Home Exam #2)

Assignment Overview:

In weeks 1-3, we establish the theoretical perspectives, as well as the historical and institutional context needed to analyze the various issue areas in subsequent weeks.  In weeks 4-9, we will further analyze the institutional architecture present in the global political economy, including theories relating to both monetary and trade relations (e.g., the historical evolution and current context of international monetary and trade governance structures).

These two take-home exams are designed to ensure that you have a solid grounding and understanding of this foundational material.

Guidelines

Directions:

This will be answered outside class, as a take-home. Please answer two questions from Part A (500- 700 words each) and one question from part B (1500-1800 words). Do not answer all questions.

Students may not consult other students or any other individuals. They may, however, use course  readings, notes, and materials they may find online or in a library. Students may not use AI to write this, as per the AI Policy on the Canvas Syllabus page.

Your answer should adhere to the following guidelines:

•     Be sure to fully answer all parts of the question

•     Be sure to respect the word counts.

•    Be sure to properly cite (use Chicago style, in-text citations) throughout your answers.

•    Include a bibliography with complete citations. Label this section ‘References.’ It will not count against your total word count.

Assessment #4: Critical Comment

Due: A critical comment (essay) written sometime during weeks 4-14, to be submitted by the day of class for the chosen week (e.g., a week 5 critical comment should be submitted before class begins on week 5). You do not need to sign up in advance, but a critical comment cannot be turned in after class for the week for which it is written. If you cannot submit it before class, you need to pick another week. You should not choose your critical comment in the same week that you do your presentation or OpEd; all three must be on separate weeks.

Weighting: 15%

Covers material: Weeks 4-14 (a critical comment will be based on the readings ofthe week you choose)

Assignment Overview:

The goal of this assessment is to test your ability to identify the main arguments of the collection of readings for the week and offer a critical reaction based on different theoretical perspectives  of global political economy, historic events, current events, topics of other weeks of our class, or your outside knowledge and thinking on the topic.

There are two separate parts required for a critical comment. The first part, Summary, should contain two summaries in total, each covering a single reading from amongst those assigned for the week. The second part, Analysis, should comprise one overall analysis covering all readings for the week. You will need to complete both parts.

You will be evaluated both on the correctness of content as well as the insightfulness and quality of writing.

Guidelines

Directions:

There are two separate parts required for the Critical Comment: Summary x2 and Analysis. These should be separate sections/ parts, and labeled ‘Summary 1’, ‘Summary 2’ and ‘Analysis.’ The total length should be 4 – 5 pages. Specific lengths and requirements for each of the two parts are described below.

TEMPLATE

•    Summary of Reading 1 (any reading from the weeks’ readings except the textbook)

•    Summary of Reading 2 (any reading from the weeks’ readings except the textbook)

•    Critical Analysis (Readings 1 & 2 in the context of week’s theme, drawing on other readings as necessary)

Summaries

There should be two individual summaries oftwo of the required readings assigned for that week (excluding textbook chapters).

Grading

Grading will be based on the following criteria:

•    Be sure to respect the page counts and use the formatting described

•    Include a bibliography with complete citations. Label this section ‘References.’ It will not count against your total page count.

PARTIAL EXAMPLE (DO NOT SUMMARIZE THIS READING):

SUMMARY:

In Exorbitant Privilege: The Rise and Fall of the Dollar, economist Barry Eichengreen discusses the role of the U.S. dollar (USD) as the global currency – a circumstance often referred to by critics as America’s “exorbitant privilege.”  However, since the U.S. is now less economically dominant than it was when it assumed this role following WWII, these same critics argue that the U.S. is no longer worthy of controlling the international currency. Eichengreen then introduces some of the potential global currency contenders, including the euro, Chinese renminbi, and a “supranational currency,” and presents reasons why these currencies could not replace the USD: for example, that the euro is not backed by one major government. Overall, Eichengreen concludes that the USD will likely retain its position as the global currency.

Eichengreen then discusses two possible triggers that could result in the fall of the USD: a political conflict between the U.S. and China, and poor U.S. economic policies. He uses the 1956 Suez Canal Crisis to exhibit the likelihood of China using its financial weapon in a political dispute with the U.S. and to show the vulnerability of a currency, concluding that this scenario is not likely to trigger the dollar’s collapse. Looking at the second possible trigger, Eichengreen concludes that the fate of the USD ultimately rests on U.S. economic and budgetary policies. He argues that an unhealthy U.S. economy is what would eventually cause the collapse of the USD.

In a less U.S.-centric approach, economist Benn Steil argues that unexpected changes in U.S. monetary policy can have significant and immediate global effects in his article “Taper Trouble: The International Consequences of Fed Policy.” For example, U.S. talks of tapering its monthly purchases of securities played into the Ukraine crisis in 2013, and U.S. initiation of quantitative easing in 2010 caused foreign currencies to spike, decreasing many countries’ export competitiveness. Steil suggests that it is therefore understandable that other states have begun seeking alternatives to the USD as the global currency. Steil then calls for more collective action in protecting the global financial system from U.S.-induced monetary side effects; however, he also recognizes that it would be difficult to substitute U.S. financial leadership.

ANALYSIS:

While many of his arguments are persuasive, Eichengreen’s optimism about the long-term future of the USD as the leading global currency seems somewhat misplaced given some recent developments: for example, the rapid transition to technological tools that will calculate real-time exchange rates between multiple currencies, and increasing trade between nations that do not use the dollar. In a world where time is money, international trading or investing partners no longer need to rely on one single currency for expedient transactions now that exchange rates can be determined through a mobile phone application. As a result, the incumbency advantage of the USD as discussed by Eichengreen loses some of its weight. Furthermore, Chinese agreements with other states such as Japan and Russia to move away from the USD-based trading system could also discredit Eichengreen’s hopeful stance. While an international shift away from the USD may remain gradual in coming decades, Eichengreen seems to deny its true likelihood …