Economic concerns are central to modern society and politics. Yet economists are deeply divided in their views about how the economy works and how it could be made to work better. This unit of study explores the principal competing currents of economic thought - classical, neo-classical, institutional, Marxian and Keynesian. It looks at how these rival economic theories shape views about economic policy and the nature of capitalism. This unit provides a solid foundation for subsequent study in political economy.

This unit explores global economic integration, especially the renewed 'globalisation' from the 1980s. It considers changing historical patterns and different explanatory theories. It analyses debates about whether globalisation has been for the better or worse and who have been the winners and the losers. The Unit concurrently explores the forms of, and debates about, the regulation of economic activity on a global scale, addressing the development and changing roles of states and international agencies.

This unit of study examines the economic theory that emerged with the formation and development of capitalism. It explores the key theoretical focuses of political economy, classical, neo-classical and general equilibrium theories, before proceeding to analyze the economics of Keynes and post-Keynesian theory, and reflecting on contemporary macroeconomic debates, including production, the distribution of income and economic growth.

Economic activity is 'embedded' within a broader social structure, making the study of institutional and social forces a crucial element in understanding the historical fabric and functioning of the economy. This unit looks at the institutions, such as of capital, labour, the family and the state that channel economic activity and also at the importance of class and other social struggles in the historical transformations of those institutions. It examines how governments respond to the imperatives for economic and social order, including how the state acts to regulate institutions, and socio-economic relations, to establish stability and maintain capital accumulation. Several illustrative case studies and policy areas are studied.

Some of the most contentious issues in political economy concern the role of the state in relation to contemporary economic problems. This unit of study examines particular economic policies, how they are shaped by competing theories, interests and ideologies, and how they operate in practice. Emphasis is placed on the Australian experience. Attention is also given to how economic policy is shaped by international economic conditions.

This unit examines the development of the capitalist world economy. The unit examines different theoretical perspective for understanding this development, and situates it within a long-term historical context. Key issues examined include: the post-World War II boom, the formation of the international monetary system and its crisis following the end of the long boom, the global role of the United States and the formation of growth poles in Europe and Asia and the global crisis of the early 21st century.

This unit examines gender in the global context. Gender is one of the most important variables explaining different economic outcomes within the West and within developing countries. The unit explores the ways in which contemporary national and global gender relations have been shaped historically and institutionally, as well as the relationships between men and women of the West and non-West.

Although our current era is characterized by the unprecedented legitimacy of equality as an ideal and as a political norm, it is marked by vast social and economic inequalities. This unit seeks to explain this paradoxical situation. It introduces students to some of the central theoretical questions; investigates the historical development of inequality within and between countries; and examines some of the key mechanisms through which inequality is produced in modern societies. It concludes by considering possible alternatives and responses.

This unit of study examines the changing character and organisation of work associated with the shifting dynamics of globalisation. The organisation of work is explored in terms of the interplay of formal and informal sectors of contemporary capitalist economies and waged and non-waged labour, and the place of key institutions, including the state, capital, unions and households, in shaping patterns of capital accumulation.

Neoliberalism is a key concept in contemporary debates about the forces reshaping the global economy. This unit introduces students to the history, theories and practices of neoliberalism. The unit begins with a focus on neoliberal ideas. It then examines institutional transformations in the neoliberal era, and changes to the economy and processes of capital accumulation. Students are exposed to competing scholarly interpretations of neoliberalism, before turning to an examination of neoliberalism and the global financial crisis.

This unit is about the political economy of development. Students are introduced to contemporary debates about the meaning and measurement of poverty and development in emerging economies such as India and China. Students will learn to evaluate the socio-economic dynamics of poverty and current approaches to development policy, including new models of development finance and aid, the use of social policy as a development tool and the critical role that gender, climate change and technology play in the development experience.

This unit of study introduces students to some of the big debates in the social sciences, through an exploration of the meaning and limits of class concepts in social theory. Structure and agency, fact and interpretation, the politics of theory, and the nature of the Good Society are all considered. The unit is both an enrichment program adding breadth to the range of issues you study in Pass units of study, and an advanced program adding depth to your analytical and writing skills in Political Economy, in preparation for a third year studies and for a final honours year.

This unit of study examines how economic interactions with the environment are conceptualised, and the nature of environmental problems, their emergence and how they are 'managed' within capitalism. Different conceptions of the economic-environment relation are explored largely through the lectures which introduce theories of environmental economics, ecological economics and radical critiques of human interactions with ecological systems. Tutorials examine concrete economic-environment problems along with the public policies and business management practices implemented in response.

This unit studies human rights in development. International debates about human rights and democratic legitimacy are linked to structural economic arguments and to cultural and structural debates over the process of socioeconomic change. This introduces the competing arguments over rights, the distinction between formal and effective rights and the social struggles that have created them. The approach of economic liberalism, emphasising property rights and the role of competition as an arbiter of equal opportunities in society, is discussed. The unit also includes international studies of indigenous rights and labour rights, the globalisation of capital and citizenship, and structural and cultural arguments over the nature of socio-economic change.

Foreign exchange, international bond and derivative markets have expanded dramatically over the past 20 years. This unit of study examines reasons for the growth of these markets and their vulnerability to some form of volatility and crisis. Case studies of individual corporate financial crises and national financial crises are considered. The unit also addresses the regulation of financial markets, both on a national and international scale. It looks at the history of regulation, key regulatory and monitoring agencies, and arguments for a new international financial architecture.

This unit surveys historical and contemporary theories to explain cyclical behavior in a market economy, recognising there are different types of cycles. Students will be trained to use techniques to detect cycles, trends, volatility and turning points. Students will complete a project which detects cyclical behavior, analyses the social, political and institutional features of an economy that may influence cyclical patterns, and discusses the challenges for policymakers to softening the ill-effects of economic downturns and create conditions for recovery.

This unit of study looks at the various theoretical frameworks within which political economic analysis is constructed. It compares the methodologies of the principal schools of economic thought with particular emphasis on the non-neoclassical approaches to the study of economic issues. The unit is required preparation for intending honours students but is also available to pass students with a credit in ECOP2911.

This unit considers the variety of research methods that can be used in Political Economy. Discussion of methodology is a principal focus. Practical consideration is also given to research materials, bibliographical access, quantitative methods, surveys and fieldwork. This is important preparation for students intending to do an honours dissertation, but the unit is also available to pass students with a credit in ECOP2911.

The Honours program in Political Economy consists of: 1. a thesis written under the supervision of one or more members of academic staff; 2. two seminars that meet weekly for two hours for first semester; 3. two day-long thesis progress workshops. For more information, consult the Department of Political Economy website or contact the Honours Coordinator.

refer to ECOP4001

refer to ECOP4001

refer to ECOP4001