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Political Economy


Module description

In this module we explore the relevance of co-existing paradigms in economics and how paradigm shifts have been driven by changed problems rather than being the outcome of relentless scientific improvement. We use the different paradigms to provide alternative windows on contemporary economic and social issues with the British and global political economy.

Given the broad remit of this module, the syllabus is likely to change from one year to the next depending on what is topical.

    Learning objectives

    By the end of this module, you will be:

    • aware of and able to debate alternative theoretical economic paradigms
    • aware of and able to debate the shifting fashions in UK economic theory and policy
    • aware of debates surrounding the political economy of development including the issues of  planning, free trade, the WTO and the Washington Concensus
    • aware of alternative concepts of competition and how these have been reflected in policy
    • aware of debates relating to economic ownership - stakeholding, mutuality etc
    • aware of issues surrounding inequality, both in the UK and globally
    • aware of the flaws in the ‘great moderation’ and explanations for its collapse in 2008
    • aware of debates surrounding contemporary routes out of economic crisis and fragility
    • generally able to comment on contemporary political-economic issues presented in journals such as The Economist.