International Relations at TU München

Flashcards and summaries for International Relations at the TU München

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What is IPE?

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What are the three traditional schools of thought in IPE?

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What is mercantilism?

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What is liberalism?

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3 Foundations of Modern IPE

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Institutions 

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Interactions

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What is a tariff?

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Economic History - Period I ("Pax Britannica")

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Economic history - Period III

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Economic History - Period V

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Why is it so hard to cooperate for open trade?

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Exemplary flashcards for International Relations at the TU München on StudySmarter:

International Relations

What is IPE?

international political economy > international economic relations between states, national polices and feedback on national & international level

International Relations

What are the three traditional schools of thought in IPE?

Mercantilism, Liberalism, Marxism

International Relations

What is mercantilism?

the state intervenes in the economy to allocate resources, conflicts between countries over trade, enhance power of the nation state 

International Relations

What is liberalism?

individual property rights facilitate market-based exchange, harmonious trade benefits all, enhance aggregate social welfare

International Relations

3 Foundations of Modern IPE

Interests, Institutions and Interactions

International Relations

Institutions 

channel interests - electoral systems, interest groups

structure of decision-making - political regime, legislature 

International Relations

Interactions

national and international level - strategy, enforcement 

International Relations

What is a tariff?

A tax on imports or exports between two sovereign countries.

International Relations

Economic History - Period I ("Pax Britannica")

1820-1879, increasing openness, repeal of the Corn Laws in GB

International Relations

Economic history - Period III

1900-1913, greater openness, less regional trade patterns (globalization)

International Relations

Economic History - Period V

from 1945, great openness (accelerating)

International Relations

Why is it so hard to cooperate for open trade?

open international markets as a Prisoner's Dilemma: State A and State B get highest payoff when one protects and the other liberalizes > dominant strategy is protectionism. But in an iterative game, the socially optimal (and sub-optimal for both states) outcome is for both states to liberalize

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