Understanding International political economy

IPE

Examines politics and economics interdependence globally.

Political Economy

Study of economic and political systems interactions.

International Relations

Systemic perspective on state interactions globally.

Sovereign States

Independent political entities with territorial boundaries.

Mercantilism

Economic theory emphasizing state interests in trade.

Zero-Sum Game

One party's gain is another's loss.

Absolute Advantage

Ability to produce more efficiently than others.

Liberalism

Focus on absolute gains and multiple actors.

Comparative Advantage

Ability to produce goods at lower opportunity cost.

Regime Theory

Institutions shaping international cooperation and order.

World Systems Theory

Core-periphery model of global economic dependency.

Hegemonic Stability Theory

Stability requires a dominant power in the system.

Public Goods

Resources available to all, provided by hegemons.

Collective Action Problems

Challenges in coordinating group efforts for common goals.

Two-Level Games

Simultaneous negotiations at domestic and international levels.

North-South Relations

Economic and political dynamics between developed and developing countries.

International Trade

Exchange of goods and services across borders.

Investment

Allocation of resources for future returns.

Finance

Management of large sums of money and investments.

System-Oriented IPE

Focus on global economic systems and structures.

Equity in Economy

Fair distribution of economic resources and opportunities.

International Economic Order

Framework governing global economic interactions.

Interest Groups

Organizations advocating for specific economic policies.

Domestic Policymakers

Government officials shaping national economic policies.