International Relations (The Role and functions of the IMF and the Essay

International Relations (The Role and functions of the IMF and the World Bank in the International Economic System) - Essay Example tical science, is the study of foreign affairs of and relations among states within the international system, including the roles of states, inter-governmental organizations (IGOs), non-governmental organizations (NGOs), and multinational corporations (MNCs). It is both an academic and public policy field, and can be either positive or normative as it both seeks to analyze as well as formulate foreign policy.† It also referred to IR as drawing upon such diverse fields as economics, history, law, philosophy, geography, sociology, anthropology, psychology, and cultural studies and that it involves a diverse range of issues, from globalization and its impacts on societies and state sovereignty to ecological sustainability, nuclear proliferation, nationalism, economic development, terrorism, organized crime, human security and human rights. (Paraphrasing made) As to how international relations originated, one cannot avoid talking about the Peace of Westphalia of 1648. It is with Westphalia that e the modern state system was developed since it encouraged the rise of the nation-state and the institutionalization of diplomacy and armies. (Wikipedia-IR, 2006) (Paraphrasing made) Having a background therefore of IR, we are confronted with the questions: What are the institutions involved? The United Nations assumes a major role in IR as it describes itself as a "global association of governments facilitating co-operation in international law, international security, economic development, and social equity". Wikipedia, (2006) stated that it is the most prominent international institution and many of the legal institutions follow the same organizational structure as the UN. (Paraphrasing made) UN has therefore affiliations with several legal institutions which include International Court of Justice, European Court of Justice and the African Court of Justice. It has also affiliations with human rights organisations which include, United Nations Human Rights Council,