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Chapter 9:Markets and Money in the Global Political Economy

Learning Objectives

After reading Chapter 9, students should be able to:
  • Describe the emergence of the LIEO after the end of World War II.
  • Articulate the differences between liberalism and mercantilism.
  • Explain the role of hegemonic power in the establishment of international economic regimes.
  • Discuss the changes in the postwar monetary regime from the period of U.S. hegemony to more recent efforts at multilateral management.
  • Explain the main components of monetary policy and how the Bretton Woods system sought to stabilize the international monetary system.
  • Analyze the forces that are for and against free trade in the current international monetary system.

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