World Markets and Economic Development


The aim of this course it provide the tools that will enable students to understand and explain developments in the global economy. On completion of this course, the following learning outcomes will be attained: 1. The historical and multivariate character of the different experiences of integrating markets for factors and products 2. The basic analytical models to study the global economy 3. The systemic and agency character of the global economy 4. The role of the different economic agents in building up the global economy, particularly the strategy of different multinational firms 5. Case studies: manufacturing (automobile industry and ICT); services (mass retailing and consulting) 6. The recurrent character of financial crises 7. Institutions and politics in the development of the international economy 8. The capability to use the knowledge provided by this course as a strategic resource to understand contemporary issues.

General characterization





Responsible teacher

José Álvaro Ferreira da Silva


Weekly - 2

Total - 210

Teaching language





General bibliography Bordo, Michael D. (eds.) (2003). Globalization in Historical Perspective. Chicago: University of Chicago Press. Brakman, Steven et al. (2006). Nations and Firms in the Global Economy. An Introduction to International Economics and Business. Cambridge: Cambridge University Press. Jones, Geoffrey (2005), Multinationals and global capitalism from the nineteenth to the twenty-first century. Oxford: Oxford Univ. Press.
Levy-Livermore, Amnon (1998). Handbook on the globalization of the world economy. Cheltenham: Edward Elgar Publishing. Reinhart, Carmen M. and Rogoff, Kenneth S. (2009). This time is different: eight centuries of financial folly. Princeton (NJ): Princeton University Press. Rodrik, Dani (2011), The Globalization Paradox: Why Global Markets, States and Democracy Can’t Coexist. Oxford: Oxford Univ. Press. plus Academic articles presented in the Moodle platform and that will change every year.

Teaching method

The course will be based on lectures organized as workshops. Any class has two parts: the first is dedicated to a lecture on the topic; the secon will discss the texts whose reading is mandatory for each class.

Evaluation method

Evaluation method - Mandatory in-class exam.(50%), Mandatory reading materials for each class and must write critical reviews for each class(25%), Online forum of discussion on the moodle platform(25%)

Subject matter

1. Analytical models 2. The global economy: a long term perspective 3. Is Globalization irreversible? 4. The recent financial crisis 5. The firms as agents of globalization 6. Globalization and tribalization: perspectives and a case study 7. Sectoral perspectives: automobile industry and ICT 8. Sectoral perspectives: mass retailing and consulting 9. Economic integration, national sovereignty and governance models 10. Political risk and economic globalization 11. The future of globalization: policial and economic challenges


Programs where the course is taught: