Political Economy

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.