Question 1

Which two entities do students of IPE take to be their principle objects of concern?&#10;A) States and markets&#10;B) States and corporations&#10;C) Governments and markets&#10;D) Markets and corporations

Accepted Answer

Students of IPE (International Political Economy) take states and markets to be their principle objects of concern. This is because IPE is a field that explores the interactions between politics and economics at the international level, and thus requires an understanding of the behavior of states as political entities and markets as economic entities. While corporations are an important actor in IPE, they are typically considered as a subset of markets rather than a separate entity. Similarly, while governments are important actors in IPE, they are typically considered as a subset of states rather than a separate entity.

Question 2

Marxist class analysis and related issues concerning the distribution of wealth is implicit in which of the following?&#10;A) Dependency theory&#10;B) Independency theory&#10;C) World system analysis&#10;D) World gender theory

Accepted Answer

Dependency theory and World system analysis both incorporate aspects of Marxist class analysis, focusing on the distribution of wealth and power on a global scale. Dependency theory examines how developing countries are dependent on developed countries, leading to a perpetuation of wealth inequality. World system analysis, developed by Immanuel Wallerstein, views the world economy as a complex system influenced by economic and political power dynamics, also reflecting Marxist themes of class struggle and wealth distribution.

Question 3

In 1975 a number of leading industrial countries met to consider reforms to the international monetary system and became known as what?&#10;A) G7&#10;B) G8&#10;C) G20&#10;D) G77

Accepted Answer

In 1975, representatives from the United States, Japan, Germany, France, the United Kingdom, Italy, and Canada met to discuss reforms to the international monetary system. These countries became known as the Group of Seven, or G7, and continue to meet annually to discuss economic policies and global issues.

Question 4

Mercantilism and realism, together with doctrines of nationalism and sovereignty as well as conservative versions of communitarianism, can be regarded as forming a theoretical cluster which stands in opposition to many of the principles of liberal political and economic thought.

Accepted Answer

Mercantilism, realism, nationalism, sovereignty, and conservative communitarianism all prioritize the importance of the state and its interests over individual freedoms and market competition, which are key tenets of liberalism. Therefore, they are often seen as opposing liberal thought.

Deck 18: Global Political Economy