The Global Economy in Times of Pandemic: Impact and Policy Responses
ISA Study Center with Universidad Internacional Menéndez Pelayo-Sevilla
Area of Study
Economics, International Business
Taught In English
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
Course Description: For four decades we have witnessed a trend towards globalization. Are we facing the beginning of process of deglobalization? This course provides a comprehensive analysis following the views, forecasts and policy prescriptions of top international economists on the economic measures that have been taken. Students will also methodically examine the reason for the policies undertaken, immediate consequences and the long term effect.
Experiential learning component.
This courses provides first hand approach to the subject:
1) Optional distance practicum in Global Intelligence Work with students from other countries under the guidance of professors. Participants will collaborate on researching and producing a report from the Internet (out of a wide selection of international media and think tanks) on all major topics with a global impact.
2) Experiential Learning Friday (October 16ht): students will visit the regional department of Economy or a regional top startup accelerator.
3) The course will also have relevant guest lecturers for the topic.
Schoology will be the primary Learning Management System used to facilitate this course. Students will have access immediately after the placement test.
PART I – THE IMPACT OF THE PANDEMIC ON THE MAJOR PLAYERS
How the crisis has unfolded in each country and the way in which they have responded:
from relief assistance and short term fiscal and monetary responses, to structural changes in the way the economy works: from the banking system to the welfare state, healthcare and education at all levels, including changes in market regulations plus labor relations & work patterns, with a special attention given to the shifting balance between the public and the private sector.
1.3. European Union.
1.5. South Korea
PART II – THE UNFOLDING CRISIS ON DEVELOPING COUNTRIES
Different countries, with different economic and technological levels have reacted differently, and culture and political systems have played a crucial role in the immediate response to the threat to public health, but also in the economic policies put in place to contain the economic downturn.
2.4. South Africa.
2.7. The Coronavirus and the debt trap: the debt risks for sovereigns and corporates in many developing economies.
PART III – THE EFFECTS ON THE GLOBAL ECONOMY: A GLOBAL CRISIS OR A CRISIS OF GLOBALIZATION?
3.1. The global trading system
3.2. Global value chains
3.3. Travel and tourism
3.4. The international monetary system: the dollar, the euro, the yuan and the yen
3.5. Global financial flows and the role of the central banks
3.6. Migration and workers across borders
3.7. The global economic institutions in the thick of the crisis: IMF, World Bank and World Trade Organization / the G-20
3.8. Is multilateral cooperation dead or alive?
PART IV – ETHICAL QUESTIONS AND ECONOMIC MANAGEMENT IN TIMES OF PANDEMICS.
Policymakers, regulators, bankers, employers, unions, heads of international organizations are facing a once-in-a-life-time situation where decisions affecting the lives and well-being of millions are without precedent.
4.1. What are the ethical implications when deciding between health and the economy, self-protection and solidarity, trust or suspicion, nation and international cooperation, closed borders or open exchanges; the short-run and the long-term.
4.2. Will capitalism, the corporation and the working-place survive as we know them?
4.3. What are the civilizational consequences for tomorrow of decisions being taken today?
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Some courses may require additional fees.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.
Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations