POLITICAL ECONOMY MOD. 1

The course offers complementary and additional skills compared to other courses of the degree program. Students will be provided with the basic tools for understanding the meaning of "Political Economy" and for using this approach in the analysis of contemporary economic dynamics, with particular reference to globalization, economic development and the internationalization of production/consumption.

Students will be able to distinguish the Political Economy approach from the others that characterize the economic disciplines. They will be able to identify the most important moments of the evolution of the academic and policy debate. They will be able to apply tools of analysis to topics such as: the organization of contemporary industrial production, the globalization of markets, the relationship between industrialized and emerging economies, the role of international institutions, the role and the relationship between state and market.

Students could benefit from having taken a previous exam in foundations of economics.

Basic concepts: Political economy, economics, marginalists revolution, keynesian revolution;
The role of the state and markets (market failures and government failures);
Economic Growth versus Development;
Major schools of thought in Development Economics;
Basic concepts in trade and trade policy (comparative advantages versus competitive advantages):
Globalization: the Bretton Wood system and how it has changed;
The role of international institutions (IMF; WB);
The role and the debate over Industrial development policy;
Industrial development strategies: Import substitution, export orientation and their tools;
International experiences of industrial development: Case studies (Cina/Africa/USA);

Raj Debraj (1998), Development Economics, New Jersey: Princeton University Press – chapters - ;
Chang H.J. (2007), Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, Bloomsbury Press - Chapter 1,2;
Chang H. J. (2011), 23 Things they do not tell you about capitalism, Bloomsbury Press – Thing 1, 7, 11;
Chang H. J (1996), The political economy of industrial policy, UK: Palgrave Macmillan – Chapter 1;
Balaam David N., Dillam B. (2014), Introduction to International Political Economy, Pearson - Chapters 1, 7, 8;

A final written exam will be taken to verify that the students have acquired the necessary knowledge

Traditional front-lectures and class discussions

written

This subject deals with topics related to the macro-area "Poverty and inequalities" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development