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PEES - Course plan .docx - EB, 3rd semester: Political...

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EB, 3rd semester: Political Economy of European States – Autumn2019WEEKTHEMES AND READING FOR LECTURESTHEMES & READING FORLESSONSWeek 36Lecture 1KMGIntroduction and overview of the course.Historical background,institutional diversity andclusters, economic development and diversity.McCann Ch. 2 Diverse Europe Under StressBale Ch.1 pp1-16NO EXERCISE CLASS INWEEK 36 – ONLY THELECTUREWeek 37Lecture 2CSLMacroeconomic concepts (3 hours)Business cycle, GDP/GNP, aggregate demand,aggregate supply, policy instruments, policyconflicts, equilibrium in the economy, injectionsand withdrawals (investment, governmentspending, exports, savings, taxation, imports).Sloman et al Ch. 15, pp457-462Gillespie Ch. 16 & 17 pp339-356(1 hour)European forms ofgovernment & governance –institutions & policy stylesBale pp71-89 + p92Week 38Lecture 3CSLMacroeconomic concepts II (3 hours)Money: factors influencing the demand and supplyof money, role of banks and financial institutions,interest rates and equilibrium in the money marketEmployment and inflation. Phillips curve. Budgetdeficit, budget surplus.Development of macroeconomic thinking: Classicalmacroeconomics vs. Keynesian revolution.Sloman et al Ch. 16, pp491-517& Ch. 22. pp669-685 (minus p675)(2 hours)Macroeconomic governance –institutions & policyFor student presentation:Johnston & Regan (2018)Week 39Lecture 4CSLMacroeconomic concepts III (3 hours)Rise of monetarism and neo-classical school.Emerging consensus until 2008 (globalisation). Thefinancial crisis of 2008 and the search for a newconsensus.Poverty & inequality: Objective v subjective,absolute v relative poverty, measures such as % ofmedian income, multi-dimensional deprivation.Inequality of income v wealth, the Gini coefficient.Gillespie Ch. 23 pp470-482Dauderstädt (2019)UN Dep’t of Economic & Social Affairs (2015)(2 hours)Financial systemsMcCann Ch. 5 pp95-117For student presentation:OECD Economic Survey:United Kingdom. Oct. 2017pp14-33Week 40Lecture 5KMGPolitical economy of the UK (2 hours)Macroeconomy & governance, financial system &corporate ownership. Welfare state, labour markets& immigration policy. Poverty & inequality.

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Term
Fall
Professor
LEA FOVERSKOV

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