Governing Money and Finance

This subject is not offered in 2016.

170 Hours

POLS90026 International Political Economy (for students enrolled in the Master of International Relations); International relations, international economics and finance, international history, or political science.

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Governing Money and Finance is an elective subject available to students enrolled in the Master of International Relations and other masters degree students in the Melbourne School of Government and the Graduate School of Humanities and Social Sciences. The course will provide an advanced introduction to the politics of monetary and financial governance in the global economy. It will introduce students to international monetary relations over the last century, including central issues of the causes and consequences of cycles of crisis and stabilization; international monetary and financial governance; the regulation of private markets and nonstate actors; and how these relate to power, international cooperation and conflict. Major issues include the use of national and international reserve assets, the domestic and international politics of exchange rate adjustment, the operations and regulation of banks and other institutions in international money and capital markets, market and institutional constraints upon national policy choices, and the politics of monetary and financial crises. The role of international institutions including the IMF, the Basel Committee, the Financial Stability Board, the G7, G20 and regional mechanisms in Europe and Asia will be covered. The subject will employ concepts and theories in political economy and international relations to address these empirical issues. The emphasis of the course is upon the evolving political and institutional context in which monetary and financial markets operate and not upon the technical aspects of their operation or upon economic theory. However, some basic concepts and theories in economics will be used to explore the political aspects of monetary and financial governance.

Students who successfully complete this subject will:

• Understand the shifting patterns of monetary and financial order and disorder in an historical and global context;
• Gain knowledge of major debates in the political economy literature concerning the management and mismanagement of money and finance in the global economy;
• Acquire in-depth understanding of important historical and contemporary issues concerning the role of money and finance in the global political economy;
• Deepen analytical skills relevant to careers in international affairs, including in government, business, media, and nongovernment organisations.

• An individual research essay of 3,000 words (60%) due during Week 8 of semester.
• A policy brief of 2,000 words (40%) due during the examination period.

Hurdle requirement: Students must attend a minimum of 80% of classes in order to pass this subject. All pieces of written work must be submitted to pass this subject.

Readings will be provided on the subject LMS.

This subject is not available as a breadth subject.

On completion of this subject students should:

• demonstrate competence in critical, creative and theoretical thinking through essay writing, seminar discussion and presentations, conceptualising theoretical problems, forming judgments and arguments from conflicting evidence, and by critical analysis;

• demonstrate proficiency in the application of analytical skills to empirical problems;

• demonstrate an understanding of the academic protocols of research and presentation;

• apply this knowledge and skills to policy-relevant problems.

Note: Assessment submitted late without an approved extension will be penalised at 10% per working day. In-class tasks missed without approval will not be marked.