LEARNING OUTCOMES
Upon successful completion of this course, the student is able to:
- identify the transformations of capitalism, technological development, markets, and
(de-)globalization; - understand the role of key economic and political players and their interaction in the functioning and development of global markets and economies;
- apply key concepts of global political economy drawing from economics, political science, international relations, sociology and critical theory;
- address and act on global grand challenges and megatrends and understand their impact on societies, business and responsible management practices across countries.
Credits: 6
Schedule: 07.09.2022 - 13.10.2022
Teacher in charge (valid for whole curriculum period):
Teacher in charge (applies in this implementation): Tiina Ritvala
Contact information for the course (applies in this implementation):
Professor of Practice Sami Itani
Meeting by appointment
E-mail: sami.itani@aalto.fi
Executive in Residence Esko Aho
Associate Professor Tiina Ritvala
Meeting by appointment
E-mail: tiina.ritvala@aalto.fi
Teaching Assistant Emilia Eräpolku
E-mail: emilia.erapolku@aalto.fi
CEFR level (valid for whole curriculum period):
Language of instruction and studies (applies in this implementation):
Teaching language: English. Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Content
valid for whole curriculum period:
The course consists of three modules: 1) The Evolution of Capitalism: Historical, Ideological and Technological Perspectives; 2) Key Actors and Power in the Global Political Economy; and 3) Global Grand Challenges and Megatrends.
The first module begins with an introduction to the historical and ideological evolution of capitalism and discusses the role of technological progress. It then delves into geopolitics, (de-)globalization and economic nationalism. It emphasizes the changing geopolitical state in the trade between the EU, the US, Russia and China without a strong normative stance on what is essentially "right" or "wrong".
The second module focuses on the key players in global markets and society. It engages the students to reflect upon the increasing power of multinational corporations in the organization and orchestration of global value chains, international regulations at the nexus of business and government relations and the role of non-governmental organizations. This module also envisions the nature of post-pandemic global financial system.
The third module is dedicated to global grand challenges and megatrends such as climate change, demographic changes, diversity and inclusion, as well as digitalization. It challenges the students to suggest future-oriented solutions to promote the global sustainability agenda and the UN sustainable development goals.
applies in this implementation
The student is expected to attend 7/10 sessions of the lectures and the final presentations session in order to pass the course. Class attendance and active participation are considered integral parts of learning. Therefore, regular class session attendance is expected of all students.
Assessment Methods and Criteria
valid for whole curriculum period:
Assignments
applies in this implementation
The assessment of this course is based on individual assignments (50%), team assignments (50%) and giving course feedback via the standard system (1 bonus point).
Individual assignments (50%)
• Mid-course paper (Pass/fail)
• Final paper, including a reflective diary (50%)
Team assignments (50%)
• Pre-tasks for selected sessions (Pass/fail)
• Team project (50%)
Workload
valid for whole curriculum period:
Contact teaching
Independent work
applies in this implementation
Lecture hours 30 h
Class preparation 30 h
Teamwork 50 h
Final paper 50 h
Total 160h (6 ECTS)
DETAILS
Study Material
applies in this implementation
The readings and pre-class assignments are available through the MyCourses site before each session.
Substitutes for Courses
valid for whole curriculum period:
Prerequisites
valid for whole curriculum period:
SDG: Sustainable Development Goals
5 Gender Equality
8 Decent Work and Economic Growth
9 Industry, Innovation and Infrastructure
10 Reduced Inequality
13 Climate Action
17 Partnerships for the Goals
FURTHER INFORMATION
Further Information
valid for whole curriculum period:
Teaching Language : English
Teaching Period : 2022-2023 Autumn I
2023-2024 Autumn IEnrollment :
This course is exclusive to the students of the Master's Programmes in: 1. Global Management and 2. People Management and Organizational Development.
Details on the schedule
applies in this implementation
Date & time
Topic & speakers (Classroom R038/U006)
Wed 7.9.
9:15-11:45
Course Introduction
What is global political economy as a field of study?
Esko Aho, Sami Itani, Tiina Ritvala
Tue 13.9.
14:15 -17:00
Geopolitics and Business
Esko Aho
Guest speaker: Igor Podoliev
Thu 15.9.
14:15 – 17:00
The Historical and Ideological Evolution of Capitalism and People Management
Sami Itani
Tue 20. 9.
14:15–17:00
Multinational Corporations and Global Value Chains
Tiina Ritvala, Sami Itani
Guest speaker: Sari Baldauf
Thu 22.9.
14:15 – 17:00
Non-governmental Organizations and International Development
Sami Itani
Tue 27.9.
14:15 – 17:00
Global Regulatory Interdependence and the Brussels Effect
Esko Aho
Guest speaker: Professor Anu Bradford, Columbia Law School
Thu 29.9.
14:15 – 17:00
Financial Crises and Post-pandemic Global Financial System
Sami Itani
Guest speakers: Professor Vesa Puttonen, Piia-Noora Kauppi
Tue 4.10.
14:15 – 17:00
Diversity, Equity and Inclusion, Future of work
Sami ItaniGuest speaker: Yacine Samb, Google
Thu 6.10.
14:15 – 17:00
Digital Transformations and Consequences for Societies and Individuals
Esko Aho
Tue 11.10.
14:15-17:00
Climate Change Politics and Corporate Approaches for Reaching Net-zero
Tiina Ritvala
Guest speaker: Jussi Nokkala, PWC: Decision support for reaching Net-Zero: corporate approach
Thu 13.10.
14:15-17:00Team Project Presentations
Q&A for the Final Paper