The course surveys classical theories and analytical approaches of political economy. Emphasis is placed on understanding the processes by which agents' political (economic) incentives influence economic (political) outcomes in the public domain, and vice versa. The course consists of two parts. Part I of this course introduces core concepts and theories – collective action, public goods, preference, social structure and power, and institutions – in the study of political economy. Part II of this course applies the knowledge introduced in part I to analyze a range of issues in political economy: institutional change, development, the interplay between different types of resources and channels of influence, and international trade. Contrary to what have been indoctrinated in the fields of economics and political science, the aim of this course is to leverage "political economy"—as an analytical approach—to help understand the sources of sub-optimal socio-economic outcomes.
Each class meeting begins with a lecture, followed by a discussion of that week's readings. Each week's readings consist of assigned book chapter(s) and/or research articles covering related mate- rials of the same topic. Further readings are NOT mandatory, they serve to provide supplemental information or alternative perspectives to give each week’s materials. Recent global and country- specific examples are prioritized in readings to better connect course materials to current events, with the aim of enhancing student learning.
Quizzes are given periodically to track students' learning. Students will need to sign up for 2 oral presentations to demonstrate their ability to organize and interpret course materials in a methodical fashion. A movie event is scheduled in lieu of mid-term.