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This subject applies theories of comparative and international political economy to important issues of current and historical concern. Current issues include the politics of rising income and wealth inequality; debates over redistribution via welfare and taxation in a changing global economy; the politics of international trade in democracies and non-democracies; the impact of globalisation and growth on the global environment and the politics of climate protection; the impact of the rise of China and other emerging countries on policy, politics and institutions in advanced countries; the politics of monetary and exchange rate management; the political causes of financial instability and the policy and political consequences of financial crises; and the changing nature of institutions and governance in the global political economy. There is an emphasis on understanding the comparative and the global aspects of the governance of markets by using the tools of political economy analysis. Students will receive a grounding in major theories and tools of political economy and their application to empirical issues and problems.
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;
- 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: 8 August 2023