Synopsis
Politics and economics are intertwined. In today’s globalised world, understanding one area and not the other makes comprehension incomplete. Analysing and drafting effective policy requires knowledge about the interaction between economic and political goals.Objectives
The MSc (International Political Economy) programme provides the link between politics and economics by examining relevant theoretical and practical concepts from both disciplines. It seeks to equip students with:- Analytical skills necessary to understand complex interactions between international politics and economics
- Substantive knowledge spanning countries and regions throughout the world
- An understanding of the historical evolution of the global political economy in order to appreciate and address challenges in the contemporary period
Relevance
This programme sits at the intersection of politics and economic markets. Many political scientists have studied political decisions divorced from the economic context. Similarly, economists have often studied the mechanisms of the market as though the economy works without manipulation from political actors. However, these two areas cannot be regarded separately. Governments frequently intervene in markets by setting wages, prices, tax levels and so forth. On the other hand, investors sometimes flee states, markets or currencies that are following objectively sound macroeconomic policies to invest in inefficient projects elsewhere in the world.Benefits
Students are taught to analyse the interaction between the production, distribution and use of wealth with politically-driven rules and institutions in the global environment. Using real-world examples coupled with a host of international seminars and conferences, the IPE programme offers comprehensive insights into contemporary developments in world economics and politics such as the uneven impact of globalisation on states and societies, and the ongoing arguments over the formal and informal rules underpinning global governance.Content
The MSc (International Political Economy) programme has been designed to ensure students gain a sound understanding in:- Theoretical and methodological issues in International Political Economy (IPE)
- The basics of economic analysis, with an emphasis on macroeconomics
- Trade, finance and production networks
- Key political trends and developments that may affect the world economy and vice versa
Students are required to take two core courses. In addition, Masters students completing a dissertation must take five extra courses (three primary and two electives), while those in the non-dissertation stream must take seven courses (five primary and two electives). Students with no economics background are strongly encouraged to take IP6001, Economics for IPE.
Please note that IPE at RSIS is not a course in international economics. Although economic concepts are given serious consideration, the focus is mainly on political determinants and their impact on economic outcomes.
Career Advancement
Students who complete this course may look forward to jobs as analysts in research institutions, financial corporations or government. Business strategy is another strong possibility. Graduates are also known to go into journalism.
In the government sector, some attractive options include researcher, analyst or policy-making positions in central banks, finance ministries or trade departments.