The purpose of the course is to get an understanding about the theoretical concepts of economic theories and historical debates in the field of economic policy.
The course is going to answer the questions who decides what in the (world) economy and who gets what, when and how?
The course will also give an overview about differences in economic policy and political economy and what are the roles of both policymakers and economists.
Every week, an overview about the most important economic policy news is presented in the context of learnt theories.
Brief description of the course
Introduction to economic policy.
Why does one need economic policies?
History of economic policy.
Theoretical approaches and historical debates to economic policy.
International trade regimes.
Where does money and power go and who controls and shapes the markets and policies?
Do states need to intervene in economics or not?
Interdependence of politics and economics.
What is wealth and how is it created (and can it be measured)?
What is the purpose of world economy?
Who rules in the world economy?
Getting accounted with basic terms and methodologies.
Learning outcomes in the course
Upon completing the course the student:
- is able to distinguish between basic economic models;
- is able to see the intersections between politics and economis;
- knows the role of international institutions;
- knows the trends in the 21st century;
- knows what makes up the global financial system;
- knows the security issues within global political economy;
- is able to think analytically when looking at international economic trends;
- is able to navigate in economic and financial issues and be able to evaluate economic policy and monetary decisions made during the covid-19 pandemic.