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Political Economy of Populism

Module description

This module has been designed to offer you the tools to understand the economic drivers and implications of contemporary populism. The study of populism from a political economy perspective is important because it sheds light on the structural underpinnings of the current democratic crisis, moving away from approaches that emphasise the idiosyncratic features of populist leaders. Three main questions are addressed throughout the module: (1) how competing concepts of populism incorporate political economy aspects? (2) what is the importance of economic factors for the current populist wave? (3) what are the sources of cross-national variation in the economic implications of populist governments across peripheral and semi-peripheral economies?

No pre-requisite or co-requisite modules are required to take this module, but some previous knowledge of political economy is desirable.

Module aims - intentions of the module

This module aims to provide you with the analytical tools to understand the contemporary populist wave through the lens of political economy. The module will be divided into three parts. The first part critically examines multiple approaches on populism (e.g. historical-structural, organisational, ideational), paying special attention to the incorporation of political economy aspects in these theoretical efforts. Moreover, it distinguishes between different varieties of populist parties, discussing the core economic commitments of these political forces.

In the second part, we will assess the economic drivers of the current populist wave. Specifically, we will discuss factors like the integration of global markets, the rise of immigration, the progress of digitalisation, the eruption of financial crises, and the implementation of neoliberal reforms. To avoid the bias of economism, we will also address alternative drivers such as the cultural backlash and the strength of democratic institutions.

In the third part of the module, we will discuss the economic policies adopted by populist parties. Initially, we will critically examine the notion of economic populism, interrogating if it makes sense to expect populist parties to pursue similar economic policies. Moreover, going beyond the experience of advanced economies, we will discuss the economic implications of the rise of populist parties to power in peripheral and semi-peripheral economies, covering cases in Latin America, Southeast Asia, East-Central Europe, Southern Europe, India, and Turkey.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Understand and apply the main theoretical perspectives on populism through the lens of political economy
• 2. Critically analyse the different drivers of the support for populism
• 3. Apply and evaluate the acquired theoretical frameworks to the analysis of national populist experiences

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 4. Identify, analyse and evaluate the key assumptions underlying the political research (e.g on populism)
• 5. Identify and critically analyse similarities and differences across different national and regional contexts

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 6. To successfully work independently
• 7. Communicate professionally and confidently to critically engage with scholarly work
• 8. Gather and evaluate sources to critically engage with public debates on populism and the crisis of democracy

Syllabus plan

Whilst the precise content may vary from year to year, it is envisaged that the syllabus will cover all or some of the following topics:

Key concepts

• What is populism? Comparing competing conceptualization strategies
• Political economy aspects in the different concepts of populism
• Varieties of populism

Economic drivers of populism

• Structural drivers: digitalisation and globalisation
• Policy or conjunctural drivers: market reforms and financial crises
• Non-economic drivers: cultural backlash and institutional norms

Economic implications of populism

• Economic populism
• Economic policies of populist governments at the capitalist periphery (Latin America, Southeast Asia, East-Central Europe, Southern Europe, India, and Turkey)

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you miss an assessment for certificated reasons judged acceptable by the Mitigation Committee, you will normally be either deferred in the assessment or an extension may be granted. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to redo the assessment(s) as defined above. If you are successful on referral, your overall module mark will be capped at 40%.

Indicative learning resources - Basic reading

• Caiani, M.; Graziano, P. (2019). Understanding Varieties of Populism in Times of Crises. West European Politics, 42(6), 1141–1158.
• De La Torre, C. (2014). Populism in Latin American Politics. The Many Faces of Populism: Current Perspectives. Research in Political Sociology, 22, 79–100.
• Hopkin, J.; Blyth, M. (2019). The Global Economics of European Populism: Growth Regimes and Party System Change in Europe. Government and Opposition, 54(2), 193–225.
• Mohan, D.; Padmanabhan, A. (2023). Strongmen Saviours: A Political Economy of Populism in India, Turkey, Russia and Brazil. Milton Park: Routledge.
• Mudde, C.; Kaltwasser, C. (2013). Exclusionary vs. Inclusionary Populism: Comparing Contemporary Europe and Latin America. Government and Opposition, 48(2), 147–174.
• Rodrik, D. (2018). Populism and the Economics of Globalization. Journal of International Business Policy, 1, 12–33.

Key words search

Political Economy; Populism; Globalisation; Democratic Crisis; Emerging and Developing Economies