| CODE | PPL5004 | ||||||||||||
| TITLE | Political Economy | ||||||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||||||
| MQF LEVEL | 7 | ||||||||||||
| ECTS CREDITS | 5 | ||||||||||||
| DEPARTMENT | Public Policy | ||||||||||||
| DESCRIPTION | This study-unit begins with the observation that economic activity (production, distribution, sale and consumption of goods and services) is intimately linked with politics. Power in all its forms is the matrix linking the two spheres of human life. Increasingly, public policy is produced by the interaction of markets and governments. Hence, this study-unit: - Examines the relationship between markets and governments, identifying points of symbiosis, complementary and friction in their complex, multi-stranded relationship; - Identifies the contemporary challenges that markets pose for policy-makers - from the empowerment of firms and consumers, to curbing criminal economic activity; - Reviews the unfolding agenda of economic growth, globalisation, competitiveness and sustainability, including the problem of endemic poverty; - Analyses the political economy of micro-states, including the economic value of sovereign law-making jurisdiction; - Reviews the challenge of fiscal sustainability, the politics of the budgetary process and debt management; - Reviews the political economy of selected policy issues, including water, land use, and welfare provision. Study-unit Aims: The study-unit is intended to provide students with a sound understanding of the principles of political economy, as an instrument of effective policy-making in conditions of scarcity, globalisation and socio-economic change, by: - Understanding the intimate, multi-strand relationship between public policy, governance and economic activity; - Examining selected high-profile sectors – the state’s economic role, budgetary policy, public debt, water regulation and maritime policy; from the standpoint of a very small state which is incorporated into the European Union's Single Market. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Identify and appraise the economic foundation of a range of public policy questions, such as water management, international trade and land use planning; - Understand the economic principles and considerations underpinning strategic European policy frameworks such as the Single Market and Economic & Monetary Union; - Explain and criticise the economic strategies adopted by Malta and other very small, peripheral economies; - Explain how the budgetary process may be harnessed in the interest of economic management and new policy initiatives. 2. Skills: By the end of the study-unit the student will be able to: - Identify and comment on the economic elements of strategic policy documents such as Vision 2020 and the annual Budget Speech; - Write well-informed, cogent briefs for decision-makers on the economic and fiscal implications of particular policy initiatives. Main text/s: - Baldacchino, G. & D Milne (eds). 2000. Lessons from the Political Economy of Small Islands: The Resourcefulness of Jurisdiction. Basingstoke: Macmillan. - Basu, K. 2000. Prelude to Political Economy: A Study of the Social and Political Foundations of Economics. Oxford University Press. Supplementary Text/s: - Basu, K. 2002. Readings in Political Economy. Oxford: Blackwell. - Delia, L. 2004. Papers on Malta's Political Economy. Midsea Books. - Finger, J & D Nelson. 2004. The Political Economy of Policy Reform. Elsevier. - Mitchell, C. 2008. The Political Economy of Sustainable Energy. Basingstoke: Palgrave Macmillan. - O'Hara, P. 1999. Encyclopedia of Political Economy. London: Routledge. - Weber. S (ed). 2001. Globalisation and the European Political Economy. Colombia University Press. |
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| STUDY-UNIT TYPE | Lecture and Seminar | ||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Marie Louise Mangion Mario Thomas Vassallo (Co-ord.) |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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