What is “political economy?” That seems like a simple question, yet if you ask political economists what they study—and how and why they do it—you are likely to get a wide range of answers. Some will say political economy is an academic discipline, while others see it as an object of study, or a methodology, or a field of inquiry. And while many agree that political economy focuses on the relationship between politics and economics, what is meant by “politics” and “economics” is far from clear. Do we mean political institutions, practices, ideologies, or values? Does economics focus on free-markets, regulation and market-failures, or does it address broader questions of inequality, freedom, redistribution and exploitation? Where are we supposed to be studying political economy, in the international sphere, at the level of the nation-state, or somewhere far more local? This course is interdisciplinary in nature, drawing on history, philosophy and the social sciences to answer the not-so-simple question “What is political economy?” We will explore the importance of identities, institutions, and ideas for answering this question, and examine the relationship between political economy, liberal democracy, the nation-state, and empire. In doing so we will ask whether political economy is an empirical subject that seeks to describe the world, or whether it is a normative endeavor that seeks to change it for the better. By the end of this course students will have a clearer understanding of what “political economy” is—or should be—in a globalized world, and how an integrated form of political economy will be crucial in addressing contemporary social issues in the US and beyond.

Repeat Rules