Global Systemic Risk from Coursera

What is globalization and how does it work? How can we understand the process as a whole? How are the parts of the world linked? What are the risks of living in a world where “no one is in charge”? This course introduces students to systems thinking, network theory, and risk analysis and uses these tools to better understand the process of globalization. Focusing on trade, finance, and epidemiology, it analyzes potential challenges to the current global order.

The course will be of interest to those studying global affairs, system dynamics, and world governance. It offers a set of heuristics that students can use to analyze contemporary global challenges. Linking the recording of Abbey Road to the COVID-19 pandemic provides new insights into the apparently chaotic world around us.

Complex systems form the backbone of our increasingly interconnected and interdependent society. What were once more localized economies, supply chains, and social-ecological systems are now rapidly globalizing, and interacting with one another across countless spatial and temporal scales as technologies expand at ever greater velocities. These tightly coupled systems deliver greater efficiency and prosperity, but at the cost of greater fragility and the threat of catastrophic failure. This “global systemic risk” has implications in all functional domains affecting our daily lives—from the global financial system to healthcare, to critical infrastructure networks.

Organized with 7-10 minute classes grouped together into longer modules, the course will have a linear “core” curriculum presented at the introductory level, with the potential for optional offshoots that give learners a more in-depth look into certain areas with more technical content.

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What's inside

Syllabus

Week 1: Introduction, What is Globalization, Debating Globalization

Welcome to Week 1 in which we define and analyze what we mean by globalization. In these lectures, you will be introduced to the origins, benefits, and costs of globalization.

Week 2: Systems and Networks

In Week 2, we learn about the concept of systems analysis and the insights it provides into a complex world.

Week 3: Risk and GSR

Welcome to Week 3! At the end of this week, you will be better able to identify the sources of risk in our contemporary world and to integrate the concepts of globalization, systems, networks, and risk.

Week 4: Trade and Finance

Money and trade make the world go round, but the system is fragile.

Week 5: COVID-19 and Governance

In Week 5, we analyze COVID-19 through a GSR lens and discuss the challenge of governing a global system.

Week 6: Collapse

In this last unit, we finish with a discussion of what the worst that could happen is.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Examines the risks and challenges of globalization, offering insights into the implications for global affairs, system dynamics, and world governance

Involves network theory, risk analysis, and systems thinking to provide a holistic understanding of globalization, appealing to students interested in systems dynamics, and world governance

Offers a diverse range of case studies, including the recording of Abbey Road and the COVID-19 pandemic, providing real-world examples of globalization's impact

Led by Miguel A. Centeno, an experienced instructor in global affairs, offering students the opportunity to learn from an expert in the field

Provides a comprehensive overview of globalization, covering topics such as trade, finance, epidemiology, and the risks of a globalized world

Designed as a linear curriculum with optional offshoots, allowing students to tailor their learning experience to their interests

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Global Systemic Risk with these activities:

Review Core Economics Concepts

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Strengthen foundational economics knowledge to enhance understanding of globalization.

Browse courses on Economics

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Go through introductory economics textbooks or online resources.
Review basic economic concepts such as supply and demand, opportunity cost, and price elasticity.

Read 'Too Big to Fail' by Andrew Ross Sorkin

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Gain insight into the intricacies of global finance and the financial crisis of 2008.

View Too Big to Fail on Amazon

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Read the book and pay attention to the key concepts and events.
Summarize the book's main arguments and implications.

Global Risk Analysis Group Discussions

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Foster critical thinking and collaborative learning by engaging in group discussions on risk analysis in a globalized world.

Browse courses on Risk Analysis

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Form study groups of 3-5 students.
Select a current global risk to analyze, such as a pandemic or climate crisis.
Research and gather information on the risk and its potential implications.
Discuss the risk, share insights, and develop recommendations.

Five other activities

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Mind Map of Global Connections

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Solidify understanding of the interconnectedness of global systems by visually mapping connections.

Browse courses on Systems Thinking

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Identify key systems involved in globalization, such as trade, finance, and epidemiology.
Brainstorm and list the interconnected components within each system.
Create a visual representation of the systems and their connections using a mind mapping tool.

Follow Tutorials on Network Analysis

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Develop practical skills in analyzing and visualizing network structures in a globalized world.

Browse courses on Network Theory

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Find online tutorials or workshops on network analysis using tools like Gephi or NetworkX.
Follow the tutorials, apply the techniques to analyze real-world networks, and interpret the results.

Trade and Finance Simulations

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Deepen understanding of trade and financial dynamics through simulations, highlighting potential risks and interdependencies.

Browse courses on Trade

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Identify and research different trade and financial simulations available.
Experiment with the simulations, testing different scenarios and analyzing outcomes.
Analyze the results and identify patterns and trends.

Volunteer at a Local NGO

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Gain practical experience engaging with global issues and diverse perspectives.

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Identify local NGOs working in areas related to global affairs or international development.
Contact the organizations and inquire about volunteer opportunities.
Engage in volunteer activities, such as assisting with programs or events.

Contribute to Open-Source Risk Analysis Projects

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Engage in hands-on problem-solving and gain experience in open-source contributions related to global risk analysis.

Browse courses on Risk Analysis

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Identify open-source projects focused on risk analysis and global systemic risk.
Explore the project documentation and identify areas where you can contribute.
Make code contributions, report bugs, or participate in discussions to support the project.

Career center

Learners who complete Global Systemic Risk will develop knowledge and skills that may be useful to these careers:

Risk Manager

Risk Managers identify, assess, and manage risks faced by an organization. They develop and implement risk management strategies to protect the organization from potential threats. Global Systemic Risk provides a solid foundation in risk management principles and practices. The course examines different types of risks, including financial, operational, and reputational risks. It also covers risk assessment techniques and strategies for mitigating and managing risks. This knowledge is essential for Risk Managers who need to build a comprehensive risk management program for their organizations.

See salaries and explore the career path for Risk Manager

Risk Analyst

Risk Analysts evaluate potential risks and their impact on an organization. They use their understanding of risk management frameworks to create strategies that mitigate threats and protect the organization from financial, operational, and reputational damage. Global Systemic Risk directly aligns with the responsibilities of a Risk Analyst. The course provides a comprehensive understanding of risk analysis, including sources of risk in a globalized world. It also covers risk management strategies that are essential for safeguarding businesses and organizations in the face of uncertainty.

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Epidemiologist

Epidemiologists investigate the distribution and patterns of health events and diseases in a population. They use their findings to develop strategies for preventing and controlling disease outbreaks. Global Systemic Risk provides a comprehensive understanding of the global spread of diseases and the factors that contribute to pandemics. The course examines the challenges of managing global health risks and the importance of international cooperation in preventing and mitigating disease outbreaks. This knowledge is crucial for Epidemiologists who need to stay ahead of emerging health threats and develop effective prevention and control measures.

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Trade Analyst

Trade Analysts study international trade patterns and analyze factors that affect the flow of goods and services between countries. They provide insights on trade policies and their impact on businesses and economies. Global Systemic Risk provides a comprehensive understanding of international trade, its benefits, and potential risks. The course examines the challenges of managing trade in a globalized world and the implications for businesses and policymakers. This knowledge is essential for Trade Analysts who need to stay abreast of the latest trends and developments in global trade.

See salaries and explore the career path for Trade Analyst

Quantitative Analyst

Quantitative Analysts use mathematical and statistical models to analyze financial data and make investment decisions. They play a crucial role in risk management and portfolio optimization. Global Systemic Risk provides a strong foundation in quantitative analysis techniques and their applications in finance. The course examines the risks associated with global financial markets and the use of quantitative models to manage these risks. This knowledge is essential for Quantitative Analysts who need to develop and implement sophisticated investment strategies in a global context.

See salaries and explore the career path for Quantitative Analyst

Sustainability Consultant

Sustainability Consultants advise businesses and organizations on how to incorporate sustainability into their operations and strategies. They help organizations reduce their environmental footprint and improve their social and economic performance. Global Systemic Risk provides a comprehensive understanding of the challenges and opportunities of sustainability in a globalized world. The course examines the concept of global systemic risk and its implications for businesses. It also discusses strategies for managing sustainability risks and building resilient organizations. This knowledge is crucial for Sustainability Consultants who need to help organizations navigate the complexities of sustainable development.

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International Relations Analyst

International Relations Analysts study and analyze international relations, including political, economic, and military factors. They provide insights on global events and their implications for foreign policy. Global Systemic Risk provides a deep understanding of the complex dynamics of international relations in a globalized world. The course examines the challenges of global governance, the role of international organizations, and the potential risks and opportunities arising from globalization. This knowledge is essential for International Relations Analysts who need to navigate the complexities of global affairs and make informed recommendations on foreign policy.

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Economist

Economists study the production, distribution, and consumption of goods and services. They analyze economic data and develop theories to explain economic phenomena. Global Systemic Risk provides a comprehensive understanding of the global economy and its dynamics. The course examines the challenges of managing economic risks in a globalized world and the role of international organizations in promoting economic stability. This knowledge is essential for Economists who need to stay abreast of the latest economic trends and develop policies that promote economic growth and stability.

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Financial Analyst

Financial Analysts evaluate financial data and make recommendations on investments. They use their expertise to navigate complex financial markets and identify opportunities for growth. Global Systemic Risk provides a thorough understanding of the global financial system, its vulnerabilities, and potential risks. The course examines the interconnectedness of financial markets and the challenges of managing financial risk in a globalized world. This knowledge is invaluable for Financial Analysts who need to make informed decisions in a dynamic financial environment.

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Health Policy Analyst

Health Policy Analysts research and analyze health care policies and programs. They assess the impact of policies on the health care system and make recommendations for improvements. Global Systemic Risk provides a framework for understanding the complex challenges facing the global health care system. The course examines the role of globalization in shaping health policies and the need for coordinated efforts to address global health risks. This knowledge is essential for Health Policy Analysts who need to develop effective policies that promote health and well-being.

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Policy Analyst

Policy Analysts research and analyze public policies and their impact on society. They provide insights on policy issues and make recommendations for policy changes. Global Systemic Risk provides a framework for understanding the complex challenges facing the global community. The course examines the role of policy analysis in addressing global risks and the importance of evidence-based policymaking. This knowledge is essential for Policy Analysts who need to develop effective policies that promote the well-being of society in a globalized world.

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Data Scientist

Data Scientists analyze and interpret data to extract valuable insights. They use statistical techniques and machine learning algorithms to identify patterns and trends in data. Global Systemic Risk introduces students to the concepts of data science and its applications in understanding global risks. The course provides a foundation in data analysis and visualization techniques, which are essential for Data Scientists. It also discusses the challenges of managing and analyzing large datasets in a global context.

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Management Consultant

Management Consultants advise businesses and organizations on how to improve their performance and achieve their goals. They analyze business processes and provide recommendations for改进. Global Systemic Risk provides a broad understanding of the challenges and opportunities facing businesses in a globalized world. The course examines the impact of globalization on business strategies and the need for businesses to adapt to the changing global landscape. This knowledge is essential for Management Consultants who need to help businesses navigate the complexities of global markets.

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Project Manager

Project Managers lead and manage projects from start to finish. They ensure that projects are completed on time, within budget, and to the required quality standards. Global Systemic Risk provides a framework for understanding the challenges of managing projects in a globalized world. The course examines the importance of cross-cultural communication, stakeholder management, and risk management in global projects. This knowledge is essential for Project Managers who need to successfully lead projects involving multiple stakeholders and complex global dependencies.

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Systems Analyst

Systems Analysts design computer systems for various industries. These professionals analyze business processes and propose solutions that leverage technology and increase effectiveness. They may work in areas such as health care, manufacturing, or finance. Global Systemic Risk offers a foundation in systems analysis, which is fundamental to the work of a Systems Analyst. The course provides insights into how systems interact and the potential risks that arise in complex systems. Understanding these concepts is crucial for designing robust and efficient systems that can withstand global challenges.

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