Skip to main content
Unit outline_

ECOP6101: Core Concepts in Political Economy

Semester 1, 2020 [Normal day] - Camperdown/Darlington, Sydney

The unit explores the core concepts of Political Economy through the lens of the principal schools of economic thought which comprise the social science discipline of economics. The historical origins of each school are identified along with their methodological approaches and analytical tools, policy prescriptions and insights. This examination illuminates the different views about the dynamics of the capitalist economy and lays the foundation for the application of political economic reasoning to a wide range of contemporary issues.

Unit details and rules

Academic unit Political Economy
Credit points 6
Prerequisites
? 
None
Corequisites
? 
None
Prohibitions
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Troy Henderson, troy.henderson@sydney.edu.au
Type Description Weight Due Length
Assignment Essay 1
Essay
50% Week 08
Due date: 24 Apr 2020 at 23:59
3000 words
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9 LO10 LO11
Assignment Essay 2
Essay
50% Week 14 (STUVAC)
Due date: 05 Jun 2020 at 23:59
3000 words
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9 LO10 LO11

Assessment summary

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High distinction indicates work of an exceptional standard, a Distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

 

Distinction

75 - 84

 

Credit

65 - 74

 

Pass

50 - 64

 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

 

.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Why Study Political Economy? Seminar (2 hr)  
Week 02 From Antiquity to Mercantilism - Oikonomia, Usury & the Lust for Gold Seminar (2 hr)  
Week 03 The Birth of Classical Political Economy - The Physiocrats on Land & Smith's Invisible Hand Seminar (2 hr)  
Week 04 The Price of Corn & the Value of People - Malthus, Ricardo & J.S. Mill Seminar (2 hr)  
Week 05 From Castles in the Air to Scientific Socialism - the Massive Dissent of Karl Marx Seminar (2 hr)  
Week 06 Why Marx was not a Marxist - The Relevance of Marxian Political Economy Today Seminar (2 hr)  
Week 07 Marginalist Revolution Baby - The Rise & Rise of Neoclassical Economics Seminar (2 hr)  
Week 08 When the Facts Change, I Change My Mind - The Economics of John Maynard Keynes Seminar (2 hr)  
Week 09 Power & Prejudice - Veblen, Galbraith & the Institutionalist School Seminar (2 hr)  
Week 10 Does Money Grow on Trees? Functional Finance & Modern Monetary Theory Seminar (2 hr)  
Week 11 Who Runs the World? Homo Economicus, Counting for Nothing & the Development of Feminist Economics Seminar (2 hr)  
Week 12 Missing the Forest for the Trees - A Political Economy of the Environment Seminar (2 hr)  
Week 13 Why Study Political Economy Revisited Seminar (2 hr)  

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.

  • Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.

  • Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Students are expected to read all the required readings – and some of the optional readings – in preparation for each seminar.

The following text will serve as the primary required reading for this unit of study:

Stilwell, F. (2011) Political Economy: The Contest of Economic Ideas, Third EditionMelbourne: Oxford University Press.

The book is available through online booksellers and also at the University Co-op bookshop on campus.

Please note the following link for the listing at the Co-op bookshop:http://www.coop.com.au/political-economy/9780195575019

The following book will serve a complementary text for this unit of study: 

Screpanti, E. and S. Zamagni. (2005) An Outline of the History of Economic Thought, Second Edition, Oxford: Oxford University Press. 

The book is available online through the University Library.  

Supplementary readings will be supplied through the LMS site for this unit. 

 

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. The objectives of ECOP6101 can be specified in terms of the knowledge and skills students are expected and encouraged to acquire and develop. By the completion of this unit you should have:
  • LO2. • a general familiarity with the basic concepts in the language of economics;
  • LO3. • an understanding of core concepts and basic analytical tools used in political economic analysis;
  • LO4. • an understanding of the principal schools of thought in economics, their historical origins, their political orientation and their contemporary relevance;
  • LO5. • the ability to independently gather information from library and other sources;
  • LO6. • the ability to apply information collected to particular economic questions;
  • LO7. • Methodological skills;
  • LO8. • the capacity to explain the connections between different economic viewpoints (e.g. on policy issues) and the theoretical frameworks of competing schools of economic thought;
  • LO9. • a demonstrated capacity for thinking critically and constructively about contemporary economic issues;
  • LO10. • an ability to prepare clearly written summaries of arguments about political economic issues;
  • LO11. • experience in contributing orally to discussions about political economic issues, adapting and developing arguments in the light of additional evidence and alternative viewpoints.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.