Main topic: Oil crises of the 1970s and their political and economic consequences.

Overarching theme: Decolonization and the power struggles between the FIrst, Second and Third Worlds.

Outline: What happened during the 1970s oil crises? How did they affect the main actors? And what were the consequences for the bystanders?

Sources: This session's contextual video on decolonization is again provided by the people behind the Crash Course World History. Right after that, check this brief refresh about international trade and think about the situation of the newly independent countries. How would you steer their economies if you were in charge? How would you connect them to the world economy? Then you can move on to the 1973 crisis wiki wrap-up. Finally, read this paper by Giuliano Garavini who makes a convincing case for the crisis being a manifestation of the politico-economic struggles between the global North and South.

Get ready: Read more on economic development. What is it? How can you achieve it? How does it relate to international relations?