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International Finance and Economic Statecraft

Course

Description

https://at-ceu.studyguide.timeedit.net/modules/INTR5790?type=CORE

Aim & Background

Money and finance are core tools of economic statecraft. For states, currencies and financial institutions determine influence, dependencies, and international relations. The dominance of the US Dollar in the global monetary order grants the US an 'extraordinary privilege', from steering capital flows to imposing financial sanctions. Yet, this order is continuously challenged by political rivals and new technologies, whether through the rise of China or the emergence of digital money. At the same time, the liberalization of finance since the 1970s, which facilitated cross-border capital movements, has transformed global financial markets and increased the political power of international finance. States, in turn, used a variety of tools to account for this, ranging from increasing cross-border integration of financial markets (e.g. in the EU) to a revival of financial nationalism. International organizations, in the mean time, started to play central roles in surveillance, crisis management, and the disciplining of national economies, raising questions about the politics of global control. This course explores these and many more aspects of money and finance as a tool of economic statecraft. Please note that this course is not designed as an introduction to finance. The focus is instead on the politics of finance and monetary state power in international relations.
Course period1/09/254/01/26