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Political Economy (POLS20031)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Overview

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Semester 2
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This subject applies theories of political economy to issues of domestic and global concern. It focuses on the roles and institutions of government and markets, how these have been defined traditionally and how they have been changing over time. Select current issues and debates are examined to illustrate the complex interdependencies of government, markets and business in modern democracies like that of Australia. These include globalization, neo-liberalism, economic regulation and deregulation, and the governance of international trade, money and finance. Students who complete this subject should have an understanding of major theoretical controversies and issues in political economy that inform contemporary developments in and debates about the relationship between governments, business and markets.

Intended learning outcomes

On completion of this subject students should:


  • Understand the main concepts and theories of political economy, the interrelationship of government and markets, and appreciate the political circumstances and causes of economic policies;

  • Have developed critical skills in evaluating and applying concepts and theories of political economy, be able to identify and evaluate their application, and understand the changing roles of government and markets with globalisation;

  • Develop the facility to evaluate positions and policies that individuals and governments take on economic policy, and to relate these to underlying theories and ongoing debates as well as to practice;

  • Develop skills in researching major topics, understanding the ways in which political economy phenomena can be investigated and articulated, and be able to use these in their own research and formulating their view points;

  • Be informed of ethical standards and practices, and how these are to inform research;

  • Appreciate and be practiced in group participation;

  • Communicate their own views in professional ways, and refine their ability to develop coherent and persuasive arguments;

  • Have a facility for individual research and critical evaluation of sources, and be able to formulate their own informed views.

Last updated: 20 November 2024