ECON 255: Understanding Globalization

Social and economic implications for both rich and poor countries of lowered barriers to the international flows of information, capital, labour and goods.

Course Description:

Globalization is often the subject of heated debate. It is especially so now when the financial crises in the U.S. and Europe have caused a slowdown in the global economy. Globalization has the potential to make economic problems contagious across the world. At the same time, it has the potential to diffuse technologies and knowledge across the world no matter where it is discovered. It can make savings generated in one country available for investment in another. Its advocates highlight its promise to lift entire populations out of poverty through trade and economic growth. Its detractors argue that it makes countries prone to crises, promotes environmental damage and cultural homogenization, and leads to increasing inequality. These debates will be at the centre of the course.

Presentations:

Why Patents are a Bad Idea
Michele Boldrin
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Why Nations Fail?
Daron Acemoglu and James Robinson
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