GPEC5810

Applied Macroeconomics and International Finance

This course applies theories of macroeconomics to the real world, and will examine the roots and causes of recent Global Financial Crises, focusing on analyzing the current state of the Global Financial Market and mitigation measures that have been implemented in recent years.

GPEC5811

International Financial and Trade Policy: From Bretton Woods to G20/Doha

This course examines the nature, evolution and particularly the ramifications of the Bretton Woods system and institutions, particularly for companies and other organizations operating in Asia. Global financial institutions and especially international trade and investment, their roles and issues, will be explored. This will include recognizing and understanding the characteristics and challenges of trade and investment across borders, and managing the associated opportunities and threats, illustrated by case examples.

The course will begin with an overview of the Bretton Woods system, its rise and fall, and subsequent efforts to manage the global economy. It will discuss the implications of the rules and politics of finance, trade and investment, and issues like globalization, protectionism and the role of foreign direct investment. The focus will be on how international trade and finance rules and particularly policies actually work and don't work for companies and other organizations operating in Asia, with special attention paid to recent developments like the Asia Infrastructure Development Bank, new bilateral and multilateral economic agreements and the evolving role of the G-20.

GPEC5812

International Investment Policy: Economic and Business Perspectives

This course consists of two closely interrelated and complementary parts. The aim of the economic part is to describe and explain the origins, forms, and consequences of international investment. Both foreign direct investment (FDI) and international portfolio investment are highlighted, but greater emphasis is placed on the former. The role played by governments and international institutions is accorded considerable attention. The aim of the business part is to describe and explain in an elaborate fashion the role played by multinational/transnational enterprises (MNEs/TNEs), the key players in global business arena, in the world economy. The forces shaping this role and MNEs responses—strategic, tactical, and operational—are highlighted. Regulatory matters are accorded considerable attention.

GPEC5813

Currency War – Past, Present and Future

The Currency War that erupted in 2010 has weaken the financial foundation of the world’s advanced economies and eroded the currency functions of the three global currencies (the USD, Euro and Japanese yen), or G3 currencies. This has given the Chinese renminbi a window of opportunity to rise and challenge the global dominance of the G3 currencies. This is a structural change that will shake up the global political economy and monetary system in the decades to come by adding a new player – China – to the future currency war. Meanwhile, Chinese President Xi Jinping is pushing through structural reforms to chase his "Chinese Dream" when the global powers are repositioning to accommodate the renminbi in the global system.

The course will encompass the past, present and future aspects of the currency war by integrating China’s development in the global currency war environment. It will prepare students for understanding the coming changes in Mainland China and how they will affect the global monetar卜y system and political economy. The course will start with some basic economic concepts that are needed to understand the economics part of the course. It will use the currency war development to explain the rise of the renminbi, the political and economic challenges behind the opening up of China and the evolution of China's policy and financial development in shaping the future of the world economy.

GPEC5814

Global Energy Markets

Energy drives the modern world. The availability of cheap and plentiful energy such as fossil fuels and nuclear energy has transformed every aspect of human civilization. Electricity and petroleum products such as gasoline, diesel, natural gas, and petrochemical products are essential to the well-functioning of a world economy, and its availability key to lifting a country out of poverty. News headlines are often dominated by energy issues which include energy shortages and disruptions, spiking gasoline and diesel prices at the pump, acute electricity generation crisis in many developed countries, and unaffordable energy prices for developing countries, all with highly relevant political and economic consequences. Global energy instability is likely to be a paramount political issue of our time in the foreseeable future.

This course aims to provide a rigorous and systemic overview and understanding of global energy markets, one of the most complex and capital-intensive economic systems in the world. This course teaches the basic language of energy and its measurements; supply/demand balance and what it means; how the various energy markets work and their interconnectedness; issues driving energy market trends and disruptions; and the critical and emerging issues that will impact these markets.

This course offers a balanced and realistic understanding of energy issues, primarily with fact and data-based information and insights, aided by the introduction of powerful frameworks to help illuminate these topics and challenge conventional wisdom or myths. The course aims to enlighten understanding and discussion of energy market issues that will continue to dominate news headlines.

GPEC5815

Theories and Practice of International Law

This course provides an introduction to the system of international law that has emerged over the past few centuries. We will examine its historical development, contemporary structure, and content: the law of war, humanitarian and human rights law, international criminal law, treaties, environmental law, and law governing world trade. This course aims at providing basic knowledge and familiarity with important legal institutions and principles, and an understanding of the power and limitations of law. As an introductory course, no prior knowledge is strictly required. This course is related to several other areas of GPE, since law provides an essential part of the institutional infrastructure of the world system.

GPEC5816

Political Psychology for Global Political Economy

This course provides an introduction to the hybrid field of political psychology – a cross between social psychology and political science – focusing particularly on its areas of overlap with the traditional concerns of GPE. We will examine evolutionary psychology and the psychological underpinnings of political-economic ideology; the psychological dynamics of propaganda and public opinion; the psychology of radicalization and terrorism; national identity and other forms of identity; and economic psychology. As an introductory course, no prior knowledge is strictly required, although prior study in social psychology will be helpful. This course is indirectly related to aspects of international relations, but for the most part it provides a very different approach to issues in GPE.

GPEC5817

Global Environmental Politics

This course investigates the linkages between global political economy and environmental changes. The first part of the course examines how contemporary environmental changes have taken on a global form, and reviews how different theories have interpreted these changes as the drivers and consequences of political economic struggles. The second part of the course applies pertinent theories to analyse the production, degradation and protection of the environment in various physical and political settings, with a focus on how different actors and institutions are unevenly involved in and impacted by environmental changes.

GPEC5818

Global Citizenship

The course explores the conceptual understanding and issues related to global citizenship in contemporary societies. Using relevant theories and perspectives, students will be engaged in discussing the construction and development of the ideas and values on global citizen and global communities, which have been brought about by rapid globalization progresses and social changes. Topics under discussion include the notions and debates on global citizenship, relationship between individuals and global communities, ethics and concerns on global citizenship and global sustainability and wellbeing. By adopting socio-cultural, political and economic lens, students will be provided with an opportunity to reflect the in-depth meaning of a global citizen and their ways in contributing a better world.

GPEC5819

Social Innovation: A Changemaker's Tool

The world is currently faced with many complex and interrelated socio-economic challenges that cannot be solved effectively either by government effort or market forces. Welfare services struggle to cope with budgetary constraints. 1.3 billion people are still living in the dark without electricity. 345 million people in 82 countries are facing acute food insecurity. When existing political economy framework doesn't seem to be able to tackle these issues, we need new and innovative strategies to address the unmet social needs.

Social innovation is the "reconfiguring of social practices, in response to societal challenges, which seeks to enhance outcomes on societal well-being and necessarily includes the engagement of civil society actors". It intends to transform sustainably existing institutions, power structure, and social relations from a bottom-up collective agency approach. A successful social innovation is supposed to be more effective, efficient and sustainable in creating a community resilient to challenges that is based on social justice and mutual respect and through citizen involvement. It is a community with new forms of collaboration, improved capabilities, more equal power relations, and a better use of societal resources. If social innovation is embedded in our societies, our social life, in the end, will be transformed.

GPEC5830

The High Income Trap in East Asia

After decades of growth, economies such as South Korea, Taiwan, Singapore, Hong Kong and Japan are entering a high-income trap with structural problems including an aging population, wage stagnation and inflated housing costs. As a result, inequality has widened and social tension is rising. National identities have strengthened and protectionism has gained support. This course will examine the challenges facing several East Asian countries.

GPEC5831

Sub-national Diplomacy and One Country Two Systems: Hong Kong, Macao and the World

This course examines the bilateral relations of Hong Kong and Macao, focusing on the unique position of Hong Kong and Macao as a sub-sovereign entity of China, and the degree of independence it has enjoyed since the 1997 Handover in conducting bilateral dealings with foreign countries. Apart from the discussion of the structural role of the two SARs under the One Country Two Systems, the course will draw upon a wide range of current issues and topics as materials, in order to shed light on the uniqueness of the relations of the two SARs with China and its significance in strengthening Chinese interest overseas.

GPEC5833

Political Economy and Foreign Policy of the United States

This course provides an introduction to the United States’ political economy (how the political and economic systems are structured and how they influence each other) and foreign policy (influences, goals, and means of attaining goals). We will examine the historical development of US political economy and foreign policy, from the American Revolution to modern day, and look at indications of possible future developments. This will include: the structure of the US political-economic system, including law, business, government, media, and society (including public opinion). This course aims at providing a deep understanding of the US government and society, helping to make sense of domestic political developments and the US role on the world stage. No prior knowledge is strictly required, though introductory courses to IR and GPE will be helpful. This course is related to courses analyzing the political economies of other countries and regions, and to comparative politics.

GPEC5834

Political Economy of the European Union and its Foreign Policies

This course adopts various approaches to understand the logic of European Union political economy and its role in international politics. Alongside the theoretical understanding on European integration and European policy formation, the course will also shed light on the connection between the EU and major powers. It will cover topics including but not limited to, the governance of the European Union and its institutional arrangement, the external presence of the European Union in various regions, EU’s responses to major global issues and the challenges faced by the European Union.

GPEC5835

Regional Integration in China: Pearl River and Yangtze River Deltas

Pearl River Delta (PRD) and Yangtze River Delta (YRD) have developed into two regional powerhouses with the rise of China in the global political economy. The course attempts to offer a lively and comprehensive understanding of (1) the development and spatial and temporal transformations of the two regions, particularly the integration of PRD and YRD; (2) the inter-city and inter-provincial relationship in the contexts of the “one country two systems” and other institutional arrangements; and (3) the inter-regional cooperation and competition between the two regions, the dynamic cross-strait interactions with Taiwan, and other regional interactions with economies in Southeast Asia. The strategic objectives, extent, and limitations of such integrations in the dialectic era of globalization and regionalism will be evaluated critically.

GPEC5836

Chinese Foreign Policy

This course is designed to survey and analyze Chinese foreign policy. In particular, the course examines China’s rise as a global power and its new roles in the international system.

This course begins with a review of the main drivers of China’s foreign policymaking. It will then explore the myth and reality of China’s rise as well as its grand strategies since the 1990s. The course will also analyze China’s relations with other great powers such as the United States, Russia, Japan and India, as well as its involvements with Asia’s hot spots of conflicts, such as the South China Sea and the Korean Peninsula. Finally, the course will explore China’s new roles in world affairs to determine whether it is a revisionist or responsible rising power.

GPEC5837

Contemporary Chinese Society

China has embarked her economic reforms since the late 1970s when Deng Xiaoping initiated the “Reform and Open Door” policy. The economic transformation over the last four decades has been remarkable and significant. The most notable one is the successful transformation of a centralized and a planned economy into a market (non-market) one. Moreover, China joined the World Trade Organization (WTO) in 2002 to engage fully with the globalization trend. With these internal and external backdrops, contemporary Chinese society has been undergoing many changes, facing challenges and having abundant opportunities too. In this course, several contemporary salient issues will be focused such as higher education, inequality, migration, aging, corruption and health, among others. Their causes, problems, consequences and implications will be examined within the framework of state-society relationship.

Last, but not least, discussions will be encouraged in the class. The dialogue should provide an excellent forum for students to engage in an active mode of learning. Ideas can be tested; points will be made, and, above all, judgements will be formed. This will further cultivate a sense of intellectual dialogue within a productive and an encouraging environment.

GPEC5838

Greater China in the Global Political Economy

As the world’s second largest economy and biggest trading nation, China is pursuing a multi-pronged strategy to enhance its role in the global political economy. While the quasi-superpower’s goals are focused on attaining a bigger say in reshaping the international financial architecture, its voice is being heard on issues ranging from Free Trade Agreements and commodity prices to climate change and food security. Under the leadership of President Xi Jinping, Beijing is packing a bigger punch in institutions and forums including the International Monetary Fund as well as the G20 and APEC. Moreover, the Xi administration is trying to buttress China’s global influence through overarching undertakings such as the “One Belt, One Road” or the Belt and Road Initiative (B&RI) to nurture cross-border and inter-continental infrastructure projects. The Belt and Road grand plan will also showcase China’s aggressive Outbound Foreign Direct Investment (OFDI) strategy as well as the country’s leaps-and-bounds advancement in high technology. In the course of the teaching and discussion, ample weight will be given to the roles of Taiwan, Hong Kong and Macau, which are substantial players within the “Greater China” universe.

Apart from analyzing world-sized projects and activities involving the Belt and Road, the Asian Infrastructure Investment Bank, the G20 as well as UN institutions, this course will examine China’s relations with major countries and regions, particularly the U.S., Russia, Japan, the two Koreas, India, the ASEAN and EU from the global political-economy perspective. A common theme will be to appraise the extent to which Beijing can sell its “win-win” scenarios in trade, investment and security-related cooperation to global partners. The Xi administration, however, has to counter the “anti-China containment policy” supposedly being spearheaded by countries including the U.S., India, Japan, Vietnam and Australia. Beijing must also reassure developed countries that it is not stealing their technologies through M&A operations – and developing nations that it is not pursuing neo-colonialist agendas.

The Chinese Communist Party (CCP) administration’s ability to win over countries and regions and to enlarge its global footprint depends, however, on the viability of the “China model.” Whether China can modernize government institutions and corporate governance – and raise the competitiveness of its industrial and services sectors – is pivotal to its objective of becoming a norm-setter in the global political economy. These important issues will be analyzed and discussed in class after students have gained a good understanding of the Chinese economic structure, the country’s foreign-policy and national-security priorities, and latest developments in the global political economy.

GPEC5839

Non-traditional Security: Terrorism, Corruption and Trans-border Crime

This course introduces the concept of terrorism, crime, and corruption. It examines the relations among terrorism, crime, corruption, politics, and economy. Students are encouraged to discuss the impact of terrorism and crime on international and regional stability. The course investigates how governments’ tolerance and intolerance of illicit activities are affected by their impacts on economic growth and self-interests of political elites. Special attention will be focused on the responses of International Organizations and nations on the issues and evaluation of their success and limitations.

GPEC5840

Taiwan’s China Dilemma and Cross-Strait Economic Policy

The course examines the political economic relationship between Taiwan and China, focusing on the fundamental role of Taiwan’s evolving national identity in shaping its economic policy towards China. This course analyzes the controversies over Taiwan’s liberalization of its trade and investment relations with the Chinese economy. The course will draw on theories of international political economy and comparative political economy, and on the role of national identity in formulating foreign economic policy.

GPEC5841

Race, Sex and Social Class: A Cultural Psychology of the North-South Divide

Why do most societies around the world positively discriminate light-skinned, but negatively discriminate dark-skinned people? Why do social norms often restrict the freedoms of certain social identities, such as women? Why is the Global North rich but the Global South poor? This course tries to answer questions such as these by delving deeper into the roots of global inequality. In particular, it will focus on the interactive nature of the relationship between the individual (psychological level) and the social context that maintains social inequality. The course draws heavily from a multidisciplinary body of scholarship to shed light on the multilevel predictors of social inequality including, but not limited to, the global level (e.g., imperialism/(neo-)colonialism, globalization, the international media), the cultural level (e.g., neoliberalism, individualism/collectivism, racism/white supremacy), and the individual level (e.g., social dominance orientation, microaggressions, the self-concept), and how all levels mutually constitute each other. The course heavily emphasizes the Global North vs. South regional differences and attempts to highlight the subjective nature of unequal human relationships. As such, it adopts a critical approach that attempts to break with mainstream hegemonic conceptions of social inequality that often misrepresent it as natural, stable and fixed.

GPEC5850

Independent Research

This course provides students with the opportunities to conduct academic research under supervision of one or more teaching staffs of the Programme. Students are required to submit the required assessment at the end of the course.

GPEC5851

Independent Research and Guided Field Studies in Selected Area

This course provides students with the opportunities to visit a destination outside of Hong Kong, exploring the real-world implications of Global Political Economy to different communities. The field studies will take place under the supervision of one or more teaching staffs of the Programme. Students are required to conduct independent research and submit the required assessment after the field studies.

GPEC5852

Internship/Practicum

This course provides an opportunity for students to gain policy research experience working under a supervisor at a partnering organization in or beyond CUHK that is endorsed by the course coordinator. Over the course of the semester, students will contribute to an ongoing research project (topics vary annually), by performing policy-relevant research, surveying/canvassing, and/or data analysis.