This course aims to provide a general framework on the major issues in political economy, and on the interaction between economy, markets, and society. Throughout the course economy is analyzed as an instituted process. The course begins by challenging the mainstream approach, which argues for the detachment of economy from politics, and emphasizes the political nature of the economic sphere. Within this framework, Mercantilism, Liberalism and Marxism are explained as the main approaches. The first major focus of the course is capitalism as a system. The capitalist system is analyzed with its implications both at the domestic and international levels. The second major focus of the course is neo-liberal globalization. Contemporary capitalism and globalization are discussed within the framework of the global crisis and the European and Turkish examples are analysed.
Upon successful completion of the course, students will be able to;
To provide students an introductory framework about political economy.
To discuss current political economy issues with reference to globalization.
To develop key analytical tools in the field of political economy.
To adopt an critical point of view on the history and the transformation of capitalism, with a special emphasis on the systemic effects of capitalism.
To make the students familiar with the basic concepts of international political economy.
Blended
Theoretical lectures(Lecture), Study time for Theoretical Lectures (Lecture), Midterm(s), Final exam
Requires consent of instructor for non-faculty students
Lectures and discussions in the classes, the readings and all of the assignments will be in English. Students are required to attend and participate in classes. Students are expected to read each week’s chapter/article BEFORE coming to class. The topics of each week build on the previous weeks. Therefore, it is of utmost importance for the students to read and follow the schedule.
Course Content
Introduction
• Ha-Joon Chang, “How to Use Economics” in Economics: The User's Guide, 2014, Bloomsbury Press, 451-460.
What is political economy?
• Ha-Joon Chang, “State and Economics” in Economics: The User's Guide, 2014, Bloomsbury Press, p. 377-402
Approaches to political economy: Mercantilism and Liberalism
• E. Wood, “The Agrarian Origin of Capitalism”, “Agrarian Capitalism and Beyond”, in The Origin of Capitalism: A Longer View, Verso, 2002.
Capitalism a historical perspective and Marxism
• Marx, Karl, preface to A Contribution to the Critique of Political Economy, Progress Publishers, Moscow, 1977,
• Marx, Karl, Capital Volume One, First english edition of 1887, Progress Publishers, Moscow, USSR, 1995, Part VII: The Accumulation of Capital, Chapter Twenty-Three: Simple Reproduction.
• Who was Karl Marx? | DW Documentary
Mercantilism and Liberalism in Contemporary World Economy (11.10.2019)
• Paul, Darel E. "Liberal Perspectives on the Global Political Economy." The International Studies Encyclopedia. Blackwell Reference Online. 06 November 2015.
• The Real Adam Smith: Ideas That Changed the World https://www.pbs.org/video/wttw-specials-real-adam-smith-ideas-changed-world/
Approaches to political economy: 20th Century
• Polanyi, Karl, “The Self-Regulating Market and the Fictitious Commodities: Labor, Land, and Money”, in The Great Transformation: The Political and Economic Origins of Our Time, Beacon, 2001.
"MIDTERM"
Political Economy in 20th Century
• Hayek, Friedrich, The Road to Serfdom, pp.39-70, London, The Institute of Economic Affairs, 2005.
• Commanding Heights: The Battle of Ideas- Episode One
World System Perspective
• Immanuel Wallerstein, “A World System Perspective in Social Sciences”, The British Journal of Sociology, Vol.27, Special Issue, History and Sociology, Sep.1976.
Political Economy of Regional Integration: The European Union
John Gillingham, “European integration, 1950-2003 : superstate or new market economy?”, Cambridge, UK ; New York : Cambridge University Press, 2003.
Neo-liberal Globalization
• Stiglitz, Joseph, Making Globalization Work, New York, W W. Norton & Company, 2006, pp. ix-xviii; 3-25 (preface and chapter I: “Another World Is Possible”.
Global Crisis
• Bastiaan van Apeldoorn , Naná de Graaff & Henk Overbeek (2012) “The Reconfiguration of the Global State–Capital Nexus”, Globalizations, 9:4, 471-486.
Global Crisis and European Political Economy
• Peter A. Hall (2014) “Varieties of Capitalism and the Euro Crisis”, West European Politics, 37:6, 1223-1243.
Global Crisis and Turkish Political Economy
• Öniş, Ziya. 2019. “Turkey under the challenge of state capitalism: the political economy of the late JDP era”, Southeast European and Black Sea Studies19, (2): 201-225.
Any test, assignment, paper, or report submitted by you and that has your name on it is presumed to be your own original work that has not previously been submitted for credit in another course or has not been written partially or completely by another person. In all of your assignments, you may use words or ideas written by other individuals in publications, web sites, or other sources, but only with proper attribution as explained in your course. If you are not clear about the expectations for completing an assignment or taking a test or examination, be sure to seek clarification from your instructor. Finally, you should keep in mind that as a member of the campus community, you are expected to demonstrate integrity in all of your academic endeavors and will be evaluated on your own merits.. The consequences of cheating and academic dishonesty is a formal discipline punishment as regulated by the Turkish Higher Educational Council.
Educational Support for Disabled Students
If you have a disability for which you are or may be requesting an accommodation, you are encouraged to contact both your instructor and Bilgi Accessible Education Unit as early as possible in the term. Bilgi Accessible Education Unit will verify your disability and determine reasonable accommodations for this course. For more information, visit http://step.bilgi.edu.tr/en/ogrenci-destek-merkezi/bilgi-accessible-education-unit/
