Chapter 07 Essay Questions

1. What are the key principles of mercantilism, economic liberalism, constructivism, and dependency theory? Which approach do you think best captures today’s global economy? Why? (Learning Objectives 2-5)

2. Why has Marxism fallen out of favor as an explanatory model for the international political system? Use the main tenets of Marxism and historical developments in your answer. (Learning Objectives 5, 6)

3. Write an essay in which you trace the development of thought about IPE from mercantilism to liberalism to the present day. (Learning Objectives 2-6)

4. What is Keynesianism and when and why was it first applied? How does it differ from economic liberalism? (Learning Objective 3)

5. Are trade deficits tolerable in the long term? Why or why not? (Learning Objective 6)

6. What are the proposed solutions to promote economic development in the Global South? Which do you find the most compelling? Learning Objective 6)