• Evaluate the key features of US policymaking processes and assess their relevance for firms and business organizations
• Identify, analyze and evaluate the relevant concepts and theories used in the study of US domestic and foreign policymaking
• Assess the changing character of economic policy thinking over recent decades and evaluate contemporary economic trends in both the US and across the world economy and their likely consequences for firms
• Analyze and evaluate the US’s changing position in world affairs and the global economy.
• Relate concepts and theories to empirical evidence
• Construct and sustain coherent and structured arguments in a well-reasoned manner using frameworks, approaches and methods drawn from the social sciences and based upon an understanding of competing perspectives.

In an era defined by rapid technological change, geopolitical uncertainty, and deep economic interconnection, understanding the forces shaping the global economy is more important than ever. This course offers a comprehensive exploration of the United States (U.S.)’ role within the broader world economy, combining historical context, current trends, and forward-looking analysis. From its leadership in trade, finance, and innovation to its influence on international institutions and policy, the U.S. remains at the heart of global economic activity. But its position is increasingly challenged by emerging markets, evolving trade dynamics, and shifting geopolitical alliances.

We begin by assessing the world economic outlook and then zoom in on the U.S. economy—its structure, policy levers, financial systems, and global influence. Along the way, we’ll explore the evolution of globalization, the impact of major shocks like the 2008 Great Recession and the 2020 pandemic-induced downturn, and the rising themes of deglobalization and economic decoupling. Students will gain exposure to key economic models, institutions like the Federal Reserve, and pivotal topics such as the U.S. dollar’s dominance and the importance of scenario planning in uncertain times.

We will also examine key political developments in the 21st century — Including the policy shifts following the 9/11 attacks, the 2008 financial crisis response, the Trump administration’s trade and tax agenda, and the Biden administration’s approach to climate, infrastructure, and industrial policy—and how these developments have shaped the direction and performance of the U.S. economy.

Through lectures, readings, documentaries, field trips, and structured discussions, this course invites students to think critically about both economic theory and real-world events. We'll examine not only how economies function, but also how they fail—and how governments, businesses, and individuals respond. The goal is to equip you with the tools to understand complex economic systems, interpret policy choices, and engage meaningfully with major issues that will shape the world economy in the years ahead.

By the end of the course, students will not only have a grounded understanding of U.S. and global economic trends but will also be better prepared to anticipate future disruptions, ask informed questions, and contribute to solutions in a rapidly changing global landscape.

Textbooks: 

Deglobalization (Ashbee) - Purchase e-book  hereLinks to an external site.

Globalisation and the International Economy (Hedegaard et al) - Purchase e-book  hereLinks to an external site.

All other readings will be made available under the respective class i.e. IMF economic outlook, various academic papers, Federal Reserve updates, general news

Nordic Nine: US Business, Politics, and the World Economy addresses the transformational capabilities specified in CBS’s Nordic Nine. In particular, the course seeks to place business knowledge within a broad context (N1), emphasizes analytical approaches to date and fosters curiosity about inherent ambiguities (N2), develops critical thinking and constructive forms of collaboration when working on tasks and projects (N6).

• Classic and basic theory
• Teacher’s own research

• Analysis
• Discussion, critical reflection, modelling

Richard Johnson (2021) US Foreign Policy: Domestic Roots and International Impact, Bristol University Press

B Guy Peters (2021) American Public Policy: Promise and Performance, 12th edition, CQ Press / Sage Publishing