Political Economy
| Module title | Political Economy |
|---|---|
| Module code | POC2131 |
| Academic year | 2025/6 |
| Credits | 15 |
| Module staff | Dr Harry Pitts (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 10 |
| Number students taking module (anticipated) | 50 |
|---|
Module description
This module introduces international political economy (IPE): the study of the governmental, societal and cultural dynamics that shape the national and global business environment. It introduces you to IPE in the context of what some scholars and policymakers call the ‘polycrisis’: a period combining pandemic, environmental collapse, financial instability, technological change, social contestation, populist upheaval, geopolitical conflict and spiralling cost-of-living. You will examine how different actors – parties, governments, businesses, activists and others – develop strategies to command and control the political-economic conflicts and contradictions that underpin the polycrisis, and the ideas that inform these strategies. Inspired by the cutting-edge contributions of contemporary IPE scholarship, you will take an interdisciplinary and critical perspective on the past, present and future of capitalism, drawing from across the humanities and social sciences.
Module aims - intentions of the module
The module will equip you with an understanding of how ideas about political economy inform the strategies parties and policymakers from across the ideological spectrum take to govern and regulate a series of conflicts and contradictions central to capitalism’s current ‘polycrisis’. These include the relationship between businesses and workers in how value is produced and shared, the balance between states and markets in the setting of industrial strategy and innovation policy, and the tensions between national and global economies in an era of supply chain disruptions and geopolitical competition. Through the lens of the latest trends in the broad and dominant historical materialist tradition of IPE you will develop insights from a range of academic disciplines to understand contemporary capitalism in Britain and beyond: politics, international relations, economics, geography, history and more. Drawing on a diverse array of cases and examples through authentic assessments that emulate real-world modes of writing in media and politics, you will have the opportunity to apply these insights to popular debates and practical policy issues related to national and global political economy.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Demonstrate understanding of different ways of understanding political economy.
- 2. Apply concepts and theories to analyse case studies about contemporary political-economic issues
- 3. Analyse real-world examples of political-economic challenges to debate potential policy responses
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. Work independently and collaboratively to research and communicate relevant insights
- 5. Conduct rigorous, independent analysis using a variety of relevant sources or evidence
- 6. Evaluate the strengths and weaknesses of different analyses and policy responses
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 7. Display understanding, sensitivity and communication skills
- 8. Construct a reasoned and logical argument supported by evidence
- 9. Work independently and collaboratively to articulate practical solutions to real-world problems
Syllabus plan
Whilst the content may vary from year to year, previous years have covered how to:
- periodise our own phase of political economy within the history of industrial capitalism
- understand political conflicts over who and what is productive of value
- conceptualise the ‘hegemonic’ power of ideas in and about international political economy
- distinguish and relate the political and economic dimensions of national populism
- chart the domestic consequences of the (de)globalisation of production networks
- gauge the capacity of capitalist democracies to build consensus around net-zero policies
- map the voter and business blocs that states and parties rally behind industrial strategies
- analyse the relationship between state and society in the regulation of critical infrastructure
- explore the geopolitical conflicts emerging around platforms in the digital age
- envision the possible futures of international political economy in and beyond ‘polycrisis’
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 20 | 130 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activity | 20 | Weekly 1 hour-seminar and 1-hour lecture |
| Guided Independent Study | 70 | Private study, reading and preparing for lectures and seminars (approx. 7 hours of private study per week) |
| Guided Independent Study | 20 | Preparing group policy debate exercise |
| Guided Independent Study | 20 | Researching and writing Journalistic Analysis |
| Guided Independent Study | 20 | Researching and writing Policy Analysis |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Group presentation of policy debate and Q&A | 5 minutes + questions | 1, 4, 7 | Verbal (feed forward for Summative assignments 1 & 2) |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 100 | 0 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Journalistic Analysis | 50 | 1,200 words | 2, 5, 8 | Written |
| Policy Analysis | 50 | 1,200 words | 3, 6, 9 | Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Journalistic Analysis (1200 words) | Journalistic Analysis (1200 words) (50%) | 2, 5, 8 | August-September re-assessment period |
| Policy Analysis (1200 words) | Policy Intervention (1200 words) (50%) | 3, 6, 9 | August-September re-assessment period |
Re-assessment notes
Indicative learning resources - Basic reading
There are a range of books which provide suitable further reading for the topics encountered on the module, including (indicative list):
Christian May, Daniel Mertens, Andreas Nolke, Michael Schedelik (2024) Political Economy: Comparative, International and Historical Perspectives. Springer.
Patrick Diamond and Ania Skrzypek (2024) The Politics of Polycrisis. Foundation for European Progressive Studies.
Ilias Alami and Adam Dixon (2024) The Spectre of State Capitalism. Oxford University Press.
John Clarke (2023) The Battle for Britain: Crises, Conflicts and the Conjuncture. Bristol University Press.
Christoph Scherrer, Ana Garcia, Joscha Wullweber (eds.) (2023) Handbook on Critical Political Economy and Public Policy. Edward Elgar.
Mariana Mazzucato (2019) The Value of Everything: Making and Taking in the Global Economy. Penguin.
Alan Cafruny, Leila Simona Talani, Gonzolo Pozo Martin (eds.) (2016) The Palgrave Handbook of Critical International Political Economy. Palgrave.
Stephen Gill (ed.) (2011) Gramsci, Historical Materialism and International Relations. Cambridge University Press.
We will read regular articles and editorials from The Economist as well as additional readings from leading academic journals, including (indicative list):
New Political Economy, Review of International Political Economy, Global Political Economy, Review of International Studies, Socio-Economic Review, Millennium: Journal of International Studies, Environment & Planning A: Economy & Space, Antipode, Globalizations, Dialogues in Human Geography, Politics & Society, International Affairs, European Planning Studies, Critical Policy Studies, Journal of Historical Sociology, Geoforum, Capital & Class, Competition & Change, Finance & Space, European Journal of International Relations, Geopolitics.
We will read policy reports and papers from a cross-spectrum array of thinktanks and other bodies operating in the area of British political economy, including (indicative list):
Institute for Public Policy Research, Foundation for European Progressive Studies, Tony Blair Institute for Global Change, Joseph Rowntree Foundation, Demos, Progressive Britain, Onward, Resolution Foundation, Social Market Foundation, European Council on Foreign Relations, Council on Geostrategy, Henry Jackson Society, Royal United Services Institute, Policy Exchange, Labour Together, New Economics Foundation, Fabian Society, Labour Foreign Policy Group, UCL Policy Lab.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | None |
| Module co-requisites | None |
| NQF level (module) | 5 |
| Available as distance learning? | No |
| Origin date | 11/11/2022 |
| Last revision date | 06/01/2025 |
