Marxist Political Economy 1. Introduction Marxist Political Economy is an approach to the study of economic and political relations based on the ideas of Karl Marx and Friedrich Engels. It examines how the ownership and control of productive resources, class relations, labour, and capital accumulation shape societies and political institutions. In International Political Economy, Marxist…

Economic Nationalism 1. Introduction Economic nationalism is an approach to economic policy that places national economic interests, domestic productive capacity, strategic autonomy, and economic security at the centre of government decision-making. It emphasizes the role of the state in protecting or developing industries considered important for national prosperity and independence. Economic nationalists argue that economic…

Economic Liberalism 1. Introduction Economic liberalism is a school of economic thought that emphasizes individual economic freedom, private property, market competition, voluntary exchange, and the potential benefits of international trade. It holds that markets can coordinate economic activity efficiently when individuals and firms are able to make decisions within a stable legal and institutional framework….

Mercantilism 1. Introduction Mercantilism is one of the earliest major approaches to understanding the relationship between economic activity and state power. It emerged in Europe during the sixteenth century and remained influential through the eighteenth century, when expanding trade, colonial competition, and the consolidation of centralized states shaped international relations. Mercantilist thinkers and policymakers believed…

International Political Economy: Meaning and Scope 1. Introduction International Political Economy (IPE) is a major field of study that examines the relationship between politics and economics at the international level. It explores how states, markets, international institutions, businesses, and social groups influence the production, distribution, and use of wealth across borders. International politics and economics…

Global Governance and the Future of Multilateralism 1. Introduction Global governance refers to the rules, institutions, processes, and cooperative arrangements through which states and non-state actors address problems that cross national borders. It includes formal international organizations, treaties, diplomatic negotiations, regional institutions, public-private partnerships, and informal networks. Global governance is not the same as world…

Reform of Global Institutions 1. Introduction Global institutions are organizations and institutional frameworks that facilitate cooperation among states on issues affecting the international community. They include the United Nations, international financial institutions, the World Trade Organization, regional organizations, and specialized agencies. These institutions were developed to manage collective problems, establish rules, coordinate policies, and reduce…

International Sanctions 1. Introduction International sanctions are restrictive measures imposed by states or international organizations to influence the behaviour of governments, entities, or individuals. They may respond to threats to international peace and security, serious violations of international law, human rights abuses, terrorism, nuclear proliferation, or other policy concerns. Sanctions can restrict financial transactions, trade,…

International Environmental Law 1. Introduction International environmental law is the body of international rules, principles, treaties, and institutions that addresses environmental protection and the management of shared natural resources. It seeks to prevent environmental harm, promote cooperation among states, conserve biodiversity, control pollution, and support sustainable development. Environmental problems frequently cross national borders. Air pollution…

International Refugee Law 1. Introduction International refugee law is the body of international rules that protects people who are forced to leave their countries because of persecution and other circumstances recognized by applicable legal instruments. It establishes standards for refugee status, protection against return to serious danger, access to basic rights, and cooperation between states….