The global economy has been transformed by a decades-long process of financialisation, and the question of the global monetary and financial order is at the center of the most pressing political challenges, notably climate change and inequality. Drawing on history, economics, sociology, and political science, this course offers an interdisciplinary introduction to the political economy of money and finance. Concentrating on the period since the 1970s, the course will teach an understanding of financialisation as a process that unfolds over time. Participants will gain an overview of the ecology of the global monetary and financial system, and will study different types of financial intermediaries – such as banks and asset managers – and their relationships with governments and the non-financial sector. The course will also cover the role of the most important public financial actors, notably central banks and the International Monetary Fund. In order to give students the tools to navigate the empirical terrain of the global monetary and financial system, understanding, processing, and visualising data from various official sources will be an integral part of the course. Familiarity with basics economic concepts will be helpful; willingness to engage with financial concepts and data is a prerequisite.
This course is for 2nd year MIA and MPP students only.