Political economy - the study of how the political and economic arenas interact - is undergoing a renaissance. The 'market fundamentalism' which became fashionable in the 1980s and 1990s has given way to an increasing awareness of close relationship between economic performance and the nature of political institutions. This stream aims to develop students' understanding of this relationship through a comparative analysis of political and economic institutions in the democratic world, drawing on research by political scientists, sociologists and economic historians. No formal economics training is required.
The courses on this stream focus on questions such as: What is the future of the welfare state? What are the causes of social inequality? What is the role of the state in creating and sustaining a market economy? How do business interests influence political decision-making? To what extent should economic policy be in the hands of elected politicians? What are the political consequences of structural changes in the economy?
For more info, refer to the entry in the Graduate Prospectus|.
The structure of the course
Students following this stream take the following courses:
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Introduction to Comparative Politics
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States and Markets
and at least one of:
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Comparative Politics of Redistribution in Advanced Democracies
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Capitalism and Democracy
In addition students take optional courses including:
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Politics of Economic Policy
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Politics and Policy in Britain
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Politics and Policy in Latin America
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Legislative Politics: the US
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Legislative Politics: European Union.
For more info, refer to the entry in the Graduate Prospectus|.
Dissertation
Students are expected to produce a 10,000 word dissertation.
Course teachers
The advantages of studying Politics and Markets at the LSE
One of the strengths of this programme is the research experience of the teaching staff in a range of political economy issues and covering a diverse sample of country cases. Both principal teachers have a particular interest in the issues of governance, corruption and accountability as they relate to the management of the economy in democratic countries. The programme therefore takes account of both the formal and the informal political economy, providing a uniquely rounded approach to the study of economic development in new and old democracies.