Please note that module information is indicative and may change year to year.
Money and finance underpin modern economies; financial crises can wreck them. Using an applied political economy approach, this module aims to analyse the recent evolution and current state of contemporary money and finance, as well as the origins of recurring financial crises – particularly the Global Financial Crisis. Engaging with competing theoretical perspectives on money, finance and crisis, term one of the module explores major areas including the role of key public and private institutions and organisations involved in finance; changes in the international monetary and financial regime; the origins of money; the (dis)organisation and functions of contemporary financial markets. In term two the module interrogates the causes of the 2007-8, examines its manifestations in various regions including the USA, the Eurozone and developing countries and analyses policy responses, strategies for crisis management and political alternatives.
The educational aim of this module is for students to learn about the recent evolution and current state of the political economy of money, finance and crises. Students will learn about five interrelated areas: the domestic and international institutions involved in the financial and monetary sectors, how finance as a distinct area of the world economy works, how and why financial crises happen, and the importance of geographical location in contemporary finance. The module will take advantage of London's role as a leading financial centre to supplement its academic contents.
At the end of the module students will:
- Demonstrate knowledge about the history, evolution and current state of the study and research of the political economy of money, finance and crises.
- Have competence to select an appropriate mix of sources to critically assess the main empirical debates in the sub-fields of the political economies of money and finance and crises.
- Have the ability to identify and analyse the main influences and constraints on monetary, fiscal, financial and crisis prevention policies.
- Demonstrate knowledge of the reasoning, principles, aims, goals and instruments of the key players involved in the political economy of money and finance.
- Have the ability to engage in the comparative study of different monetary, financial and crisis resolution policies.
- Critically evaluate the relationship of money, finance and crisis with socio-political and broader economic and political developments.
Two hours per week, one lecture and one seminar
Module assessment - more information
One 3000 word essay (50%); one 3000 word individual research project (50%)