A study of the globalization of the world economy and the political factors that shape this process. Students become familiar with the recent history of international trade, global economic relations, and the role of various players in foreign economic policy making. Using case studies of representative governments, students explore models of fiscal and monetary policy and types of trade protection. Other topics include political factors affecting emerging and transitional economies, role of trade groupings, impact of multinational corporations, negotiations in the World Trade Organization, and the problems related to global industries such as airlines or oil.