This is an introduction to political economy — the integrated study of the relationships of government, political processes, property, production, markets, trade, and distribution from the standpoint of assessing these arrangements with respect to the interests and progress of humanity. It explores the relations between individual action and collective outcomes as they shape and are shaped by environmental conditions, institutions, social norms, ideologies, and strategic and communicative interaction, paying special attention to the consequences of these relations for politics, law and economic
policies, aggregate economic outcomes, and justice and human welfare.
This course will introduce students to analytic frameworks, such as prisoner's dilemmas and principal-agent problems to analyze these relations, exploring their powers and limitations. Readings begin with classical social contract theory and continue with contemporary sources in political philosophy and economics.
There will be 3 papers and a final examination.
All students interested in exploring political economy, are welcome.
There will be 2 hours of lecture & 2 hours of discussion each week.