Course

Advanced Political Economy

University of Western Sydney

This lecture series provides an in-depth analysis of key concepts in political economy, particularly:

  • Neoclassical economics
  • Keynesian principles
  • Schumpeter's innovation theory
  • Minsky's monetary circuit theory

Students will engage with these frameworks to understand their implications in contemporary economic contexts and will explore various case studies highlighting the impact of invention and innovation in shaping economic landscapes.

Course Lectures
  • This module focuses on the critical role of invention within the framework of political economy. It examines how innovation serves as a catalyst for economic growth and transformation.

    Key topics include:

    • The relationship between invention and economic cycles
    • How investment in technology drives productivity
    • Case studies of significant inventions throughout history

    Students will analyze the implications of these inventions on market dynamics and their contributions to overall economic stability.

  • This module continues the exploration of invention, focusing on its theoretical underpinnings and economic significance. We delve deeper into how creative destruction shapes market landscapes.

    Topics covered include:

    • The concept of creative destruction
    • Impact of technological advancements on employment
    • Policy implications of fostering innovation

    Students will critically evaluate the balance between innovation and economic disruption.

  • This module explores the relationship between neoclassical economics and monetary circuit theory, emphasizing how these frameworks explain economic phenomena.

    Key discussions will include:

    • Comparison of neoclassical and Keynesian views on money
    • The role of banks in the monetary circuit
    • Implications for economic policy and regulation

    Students will engage in debates around the effectiveness of these theories in addressing modern economic challenges.

  • This module builds upon previous lessons, providing students with a comprehensive understanding of the evolutionary nature of political economy through historical perspectives on invention.

    Topics addressed include:

    • Historical case studies of transformative inventions
    • Analysis of economic transitions driven by innovation
    • Future trends in political economy related to technological change

    Students will reflect on the cyclical nature of economic development fueled by inventive breakthroughs.

  • This final module synthesizes the course material, encouraging students to critically evaluate the implications of their findings for contemporary political economy.

    Students will engage in:

    • Group discussions on case studies
    • Presentations of their analyses
    • Writing assignments reflecting on the course content

    This integrative approach ensures that students leave with a solid understanding of the interconnectedness of invention, theory, and economic practice.