Polit­ic­al Eco­nomy of European States

Course content

In recent decades Europe has undergone a process of market integration and harmonization in economic governance and the regulation of business. These developments notwithstanding, there exists significant diversity between states in the institutions and policies that frame economic activity. This course examines the nature and content of such institutional diversity between European states, as well as the economic, historical, political and cultural factors that underpin commonalities and differences in the political economy of European states.

The theory taught in PEES thereby derives principally from comparative political economy and its intersection with international political economy. It builds on the recents ideas of rethinking comparative political economy in terms of growth models, as opposed to varieties of capitalism. It also considers debates between mainstream macroeconomics, post-Keynesian economics, and neo-Schumpeterian economics. The course also covers the evolution of these economic idea and debates about them in historical context. After the theoretical part, the course considers country experiences in terms of the growth models they represent, the country specific drivers of the growth model, and its position in and relation to the global economy. It also covers economic policies featuring in current European public debates and how European countries vary in their responses and implementation of those policies.