International Organizations in Practice 2400-EM2IMWP-OG

In the first part of the lecture we will present the main rules of the GATT system created in 1947. In particular we will discuss the practice of multilateral trade negotiations leading to world trade liberalization and creation of the WTO in 1993. We will also shorty present the integration of Poland with the EU institutions. We will discuss some key elements related with the functioning of the Common Agricultural Policy and the budget. The students should understand the limited autonomy in Poland’s trade policy, being regulated by the WTO and the European Union.
Student is shown how international economic and financial institutions function and how they are governed. Objectives and tasks of the WTO and international financial institutions are described and reviewed, including changes introduced therein in the recent years. Student understands and is able to critically review reasons for the most often international economic disputes (conflicts) and ways applied for their resolution by international organizations.
Student should also be able to assess the degree of Poland’s autonomy in the area of trade and exchange rate policy and the international constraints for domestic financial regulations. In the modern world there is a very limited degree of economic policy autonomy for any member country of the European Union and more so in the case of the EMU members.
1. The liberal economic order after World War II: the role of the Bretton Woods system and the GATT:
2. Basic principles of GATT: the practice of multilateral negotiations aiming at trade liberalization
3. From GATT to WTO: settling trade disputes and unfinished Doha Round
4. The creation of the EEC: political and economic reasons: the establishment of the customs union and the CAP
5. Deepening integration in the EEC: the single market, the single market, the EMS monetary union (analyzed in the second section)
6. The integration of the countries of Central and Eastern Europe after the transformation accession to the WTO and the establishment of the CEFTA
7. Accession Polish and other countries to the EU: the main EU institutions and decision-making mechanism.
8. Monetary integration in the EU and monetary union (Eurozone).
9. The organizations involved in financial stability plans and monitoring: the IMF, Paris Club and London.
10. Evolution of the scope of the IMF. The role of the IMF in the crises of individual countries and regional crises. The evaluation of the IMF
11. Banks Development: IBRD and regional banks. Their role in stimulating growth and fighting poverty

Type of course

general courses

Prerequisites (description)

Macro I and Micro I, some basic knowledge of economics and economic history English and modern economic history would be useful

Course coordinators

Ryszard Kokoszczyński
Jan Michałek

Assessment criteria

Written exam, separately for trade and finance part of the course. Final grade is an average of partial grades under the condition that both are pass or better. The premium up to 15% of total number of points will be given to the students attending the lecture in a regular way.

Bibliography

Required:
• Polska w WTO (2001), J. Kaczurba and E. Kawecka-Wyrzykowska eds. IKiC, Warszawa, chapters 1, 2, 4 i 11.
• Polska w Unii Europejskiej (2004), E. Kawecka-Wyrzykowska ed., vol. 1 and 2 (selected chapters)
• Gospodarka światowa w warunkach globalizacji i regionalizacji rynków, (2009), eds. S. Miklaszewski, E. Molendowski, Diffin, chapter 6 (CEFTA).
• E. Chrabonszczewska (2005), Międzynarodowe organizacje finansowe, SGH, Warszawa.
• W. Easterly (2003), Can Foreign Aid Buy Growth?, Journal of Economic Perspectives, 17, 23-48.
• Lecture notes provided by lecturers
• Websites:: WTO, UE, IMF, IBRD, BIS, OECD and G-20

Supplementary::
• B. Hoekman, M. Kostecki (2000), The Political Economy of World Trading System. From GATT to WTO, Oxford University Press.
• El-Agraa, A. (2004), The European Union, Economics and Policies, seventh edition, Prentice Hall.
• R. Baqir, R.Ramcharan, R.Sahay (2005), IMF Programs and Growth: Is Optimism Defensible?, IMF Staff Papers, 52, 260-286.
• J.M.Boughton (2000), From Suez to Tequila: The IMF as a Crisis Manager, Economic Journal, 110, 273-291.
• J.M.Boughton (2004), The IMF and the Force of History: Ten Events and Ten Ideas That Hale Shaped the Institution, Working Paper 04/75, IMF.
• J.M.Boughton (2005), Does the World Need a Universal Financial Institution?, Working Paper 05/116, IMF.
• M.D. Bordo, H. James (2000), The International Monetary Fund: Its Present Role in Historical Perspective, Working Paper 7724, NBER.
• F. Capie (1998), Can There Be an International Lender of Last Resort?, International Finance, 1, 311- 326.
• B. Eichengreen (1999), Toward a New International Financial Architecture, IIE, Washington.

Additional information

Information on level of this course, year of study and semester when the course unit is delivered, types and amount of class hours - can be found in course structure diagrams of apropriate study programmes. This course is related to the following study programmes:

Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system:

Description of 2400-EM2IMWP-OG in USOSweb