Registration ends 07.4.2026 at 23:59 h

Economic statecraft is the use of economic tools, i.e. financial and regulatory, to achieve foreign policy objectives. For a long time, the primary focus in International Relations was on the threat or use of force, with tools for economic statecraft being seen as mere symbolic gestures or tools of little consequence. Nevertheless, in the last three decades, there has been a remarkable surge in the utilization of tools for economic statecraft. A recent example is the use of economic sanctions to respond to the Russian invasion of Ukraine. This course familiarizes students with the different tools available in the economic statecraft toolkit, including trade, foreign direct investment, and sanctions. We will study how and when governments select from their economic statecraft toolkit—which frequently involves selecting between economic rewards and punishment. Additionally, we will study the conditions under which these tools work best, while emphasizing the conceptual and methodological issues involved in measuring their effectiveness.

By the end of this course students will:
• Be familiar with the different tools for economic statecraft and understand theories related to when they are used, how they work, and if they are effective.
• Gain a better understanding of the complexities and trade-offs of using economic coercion and the politics of rewards and punishment.
• Apply theoretical approaches to analyze (current) real-world events.
• Get an introduction to empirically studying economic statecraft (e.g. databases & cases).
• Learn to engage in group discussions, as well as provide and receive constructive criticism.

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