HOW DO SOCIETIES AND ECONOMIES INTERACT? COMPETING APPROACHES IN POLITICAL ECONOMY

POL2PPE

2020

Credit points: 15

This subject addresses La Trobe's Innovation and Entrepreneurship Essential. Innovation and Entrepreneurship is about using your creativity to generate new ideas, understand and solve complex problems and thrive in a fast-changing world.

Subject outline

Why are only some people gainfully employed, with others unable to secure the work that they need? Why are governments unable to agree on solutions to problems like climate change? Why does most economic activity take place in cities, rather than in rural and remote areas? This subject explores  a variety of schools of thought and their competing explanations for how economies and societies function. To that end, this subject introduces the ideas central to classical, neoclassical, institutional and Marxian political economy, Keynesian and post-Keynesian analysis, behavioural and nudge economics, as well as Austrian, complexity, feminist and ecological approaches. It explores their different views about the roles and importance of  labour, capital, commodities and ideas, along with their divergent accounts of the capacities and effectiveness of state intervention. This unit does not assume any prior understanding of economics. Taught in an intuitive and comparative manner, with class activities to promote learning and discussion, the subject will equip students with knowledge useful to analysing a variety of public policy challenges.


SchoolSchool of Humanities & Social Sciences

Credit points15

Subject Co-ordinatorMiriam Bankovsky

Available to Study Abroad StudentsYes

Subject year levelYear Level 2 - UG

Exchange StudentsYes

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Graduate capabilities & intended learning outcomes

02. Understand the major schools of contemporary political economy with an appreciation of the strengths and weaknesses of each school

Activities:
Seminars, discussions, class activities, research essay, and take home exam
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

03. Apply the approach of a particular school to understand a particular event, issue or public policy challenge

Activities:
Seminars, discussions, class activities, research essay
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

04. Demonstrate an awareness of how political economy is related to politics, philosophy and economics

Activities:
Seminars, discussions, class activities, research essay, and take home exam
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

05. Demonstrate an understanding of how different theories of the economy can inform public policy.

Activities:
Seminars, discussions, research essay, and take home exam
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy,Cultural Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour,Adaptability Skills,Study and Learning Skills)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

Subject options

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Start date between: and    Key dates

Melbourne, 2020, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMiriam Bankovsky

Class requirements

Lecture/Seminar Week: 31 - 43
One 3.0 hours lecture/seminar per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"Flat floor, movable chairs and tables, AV projector, computer, ability to use for group work, whiteboard. Thank you."

Assessments

Assessment elementComments% ILO*
Class activities (equivalent to 1,750 words)45 02, 03, 04, 05
Research essay (2,750 words)An argumentative essay that requires additional student-lead research.55 02, 03, 04, 05