Policy in a Global Economy
Description: From the dawn of the New Deal through the presidency of Barack Obama, the U.S. led the development of an open, global system of relatively free trade and global capital flows. In the current political environment, leaders on both the American political left (like Senator Bernie Sanders) and the political right (like Donald Trump), have called into question this bipartisan consensus in favor of freer trade and investment. Was that consensus wrong? Is globalization good or bad for the U.S. economy? What are the impacts of globalization on the rest of the world? How has economic globalization impacted the environment and income inequality in the U.S. and around the world? This course provides future policy makers and managers with the knowledge and analytical tools necessary to understand economic globalization and its effects. These issues will be studied using the analytical tools and concepts of international economics. Guest lectures and case studies will provide a range of perspectives on current policy debates. The course will also examine science-based policies that could maximize the benefits and minimize the disruption generated by globalization. The course instructor, Lee Branstetter, was the senior economist for international trade and investment on the staff of President Obama’s Council of Economic Advisers in 2011-2012. He is currently a Full Professor of Economics and Public Policy at the Heinz College, Director of the Future of Work Initiative at Carnegie Mellon’s Block Center for Technology and Society, and a nonresident senior fellow of the Peterson Institute for International Economics, the world’s leading think tank focused on international economic policy issues.