Summary Issues in global economics (UA: Guido Erreygers)
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Course
Issues in global economics (1302TEWSBX)
Institution
Universiteit Antwerpen (UA)
Book
Global Issues
My document is a summary of the in class lessons and the textbook. It is written in English, so it could also be convenient for Erasmus students. Good luck!
1. What is development? ................................................................................................................................. 4
What is development? .................................................................................................................................. 4
Nature of global policy issues ....................................................................................................................... 4
Two “big forces”: demography & the new economy ...................................................................................... 4
Types of global issues ................................................................................................................................... 5
Major players ............................................................................................................................................... 5
New realities and institutions ....................................................................................................................... 5
Instruments of governance ........................................................................................................................... 5
Global turning points .................................................................................................................................... 6
2. Wealth and poverty...................................................................................................................................... 6
The concept of poverty ................................................................................................................................. 6
Evolution of (extreme) poverty...................................................................................................................... 6
The millennium development goals ............................................................................................................... 7
The sustainable development goals .............................................................................................................. 7
Criticism of the MDGs & SDGs....................................................................................................................... 7
The Malthusian trap and the Industrial Revolution ........................................................................................ 8
Poverty traps and ways out .......................................................................................................................... 8
3. Income ......................................................................................................................................................... 8
Facts on global income ................................................................................................................................. 8
Differences between countries ...................................................................................................................... 8
Global income inequality .............................................................................................................................. 9
Income and other dimensions ....................................................................................................................... 9
Geography and development........................................................................................................................ 9
Approaches to development ......................................................................................................................... 9
Globalisation .............................................................................................................................................. 10
4. Population .................................................................................................................................................. 11
Demographic trends ................................................................................................................................... 11
Causes of population growth ...................................................................................................................... 12
Economic theory of the family .................................................................................................................... 13
‘Suboptimal’ population growth ................................................................................................................. 13
Population Policies ..................................................................................................................................... 14
Future look ................................................................................................................................................. 15
,5. Food, hunger and malnutrtition ................................................................................................................. 15
Facts on world food production, hunger and malnutrition ........................................................................... 15
Causes of hunger and famines .................................................................................................................... 16
Agricultural economics, policies and politics ................................................................................................ 17
How food affects development ................................................................................................................... 18
How development affects food ................................................................................................................... 18
The Green Revolution ................................................................................................................................. 19
Food policies and politics ............................................................................................................................ 19
Future outlook............................................................................................................................................ 19
6. Energy ........................................................................................................................................................ 19
Facts about energy supply & consumption .................................................................................................. 19
Energy crisis ............................................................................................................................................... 21
Responses by government to the crisis ........................................................................................................ 22
Energy use & development ......................................................................................................................... 22
External effects and depletion of non-renewables ....................................................................................... 23
The energy transition.................................................................................................................................. 23
7. Climate change ........................................................................................................................................... 24
Facts on carbon dioxide emissions .............................................................................................................. 24
Greenhouse gases and climate change ....................................................................................................... 24
Evidence of climate change......................................................................................................................... 25
Action on climate change ........................................................................................................................... 25
Economics of climate change ...................................................................................................................... 26
8. The Environment ........................................................................................................................................ 26
Some basic facts ......................................................................................................................................... 26
UN conferences and the rise of environmental concerns.............................................................................. 26
Air .............................................................................................................................................................. 27
Water ........................................................................................................................................................ 28
Land (minerals, deforestation) .................................................................................................................... 28
Waste ........................................................................................................................................................ 29
The extinction of species ............................................................................................................................. 30
The extinction of cultures............................................................................................................................ 30
Environmental politics ................................................................................................................................ 30
,
, 1. What is development?
What is development?
= ways in wich economies progress through their societies to improve well-being
Define well-being: bbp (materialism, past), health, longer alive, well educated,
happiness
o UN: enlarging of human capabilities and choices
o Human development index
o Health (life expectancy)
o Knowledge (education: years of schooling, mean yeard)
o Standard of living (GNI index)
o 20th century: economic growth
o GNP (Gross National Product)
o 2 types of policies
Government approach: creating jobs, social services
Market approach: deregulation, private sector for public services
o 21th century: sustainability
o From 1970s: focus negative effects of economic growth
o Sustainable development = satisfy needs present generation and future
generations are able to enjoy the same
o Millennium and sustainable development goals: economic prosperity, social
inclusion and cohesion, environmental sustainability, good governance
Nature of global policy issues
Requires International cooperation, global collective action (difficultness)
Interactions between economic, social, demographic, environmental, geopolitical
variables
Complexity & uncertainty
Two “big forces”: demography & the new economy
1. The demographic explosion (almost 8 bill): unprecedented stresses
o Land and resource use: more food with the same numbers of hectares land,
worrying signs (urbanization, deforestation, reduced biodiversity, etc.)
o Social issues: conflict, poverty, migration
2. Hyper-globalisation
o Technological progress: opportunities for faster
o Deregulation: unregulated international trade and capital markets (easy
mobility of goods, money [not people])
The ‘new’ world economy
o The end of the Bretton Woods framework (q944-1971)
o The blind belief in the market, deregulation (neo-liberalism of the Reagen-
Thatcher era of the 1980s)
o The end of communism
o Reality check: 2008, 2020?
o Features
o Speed, agility
o Capital & goods flow easily across national boundaries
o Hypercompetitive
o High on knowledge & information intensity
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