The course provides an introduction into the emerging interdisciplinary field of geoeconomics, understood as the pursuit of international political objectives with the help of economic instruments. Distinguishing between coercive and persuasive tools, the course refreshes key concepts of international economics relevant to the study of geoeconomics. In particular, the application of game theory to the decision between cooperation and conflict, the so-called gravity model, and simulation models of trade policy. It discusses the structure of the World Trade Organization, the quantitative and qualitative evolution of sanction policies, their costs and successes. It provides applications to the conduct of EU trade policy, the Sino-American geostrategic conflict, and the relationship of “the West” with Russia. It gives an outlook on the future, discussing new policy developments (e.g., the EU’s new anti-coercion instrument) and new tools (e.g., adjustments in payment systems). The objective of the course is to equip the student with a solid interdisciplinary understanding of the new field of geoeconomics.

The course will include classroom presentations by the professor and short presentation by students. There will be a written exam at the end of term. Also the presentations will contribute to the final grade.

Students will gain basic insights into the new field of geoeconomics and economic statecraft. This will prepare them to better understand the strategic importance of current geopolitical tensions for businesses and governments. They will be able to analyze policy options of public and private decision makers. 

Students are supposed to attend all lectures, but attendance will not be monitored.

Teaching techniques include lectures by the professor, classroom discussion, home study of students, as well as short presentations by students. Content will continuously be linked to actual political developments in the real world. For this purpose, news content will be used.

There will be a final exam which will contribute 75% to the final grade, and classroom presentations contributing 25%.

For a positive assessment, students need both to write the exam and to give the presentation, and they need to acquire at least 50% of all points.

The final exam will be a closed-book essay-type exam involving several questions out of which students have a choice.

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Some basic economics is required; foundations of international economics are recommended.

felbermayr@wifo.ac.at