Module SGIA3751: Crises, Governance, and Struggle: Finance and the World Economy

Department: Government and International Affairs

SGIA3751: Crises, Governance, and Struggle: Finance and the World Economy

Prerequisites

• Any Level 2 SGIA module

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To provide students with a systematic understanding of the role of the financial sector within global capitalism, as well as the causes of economic crises;
• To impart students with detailed knowledge of the historical development of national, regional, and global financial governance mechanisms;
• To allow students to critically explore the key International Political Economy theories of economic crises and financial meltdowns;
• To provide students with specialised knowledge of the financialisation of the global economy and its implications for development and democracy;
• To bolster students’ understanding of the changing role of the City of London financial centre within global capitalism.

Content

• This module will explore the causes and consequences of global economic crises and financial meltdowns, including the 2008 Financial Crisis;
• Students will learn about the historical evolution of global governance initiatives to manage the international financial system;
• The module will examine the ideas of key theorists of economic crisis – indicative content may include an exploration of the theories of Karl Marx, John Maynard Keynes, and Hyman Minsky;
• This module will introduce students to key debates on the nature and causes of the financialisation of capitalism;
• Students will gain knowledge about the historical development of the City of London banking hub, its relationship with the British state, and its changing role within the global economy;
• The module will explore how social movements and political parties seek to contest, reform, or even dismantle the global financial system.

Learning Outcomes

• Through the module students will gain an understanding of:
• Core International Political Economy debates on the evolving role of the financial sector within global capitalism;
• Key theories within International Political Economy on the causes of financial meltdowns and economic crises;
• The historical development of international monetary and financial governance mechanisms;
• The concept of financialisation, as well as International Political Economy theories of its causes and consequences;
• The unique role of the City of London within the world economy and its relationship to the British state;
• Core theories of social contestation of global finance and resistance to capitalism.

• Students will also develop some subject specific skills, such as:
• Critically analysing the functions of the financial system;
• Engaging with interdisciplinary debates related to the global economic system;
• Critically evaluating competing International Political Economy theories;
• Using a diverse range of sources to address International Political Economy research puzzles;
• Applying appropriate research methods to explore key debates within the field.

• Students will also develop some important key skills, suitable for underpinning study at this and subsequent levels, such as:
• Develop a self-critical and independent approach to learning;
• Advanced ability to seek out and use relevant data sources;
• Advanced skills in critical analysis and essay-writing;
• Ability to critically evaluate competing theories and scholarly debates;
• Independent learning within a defined framework of study at an advanced level.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching and learning will be delivered through a combination of a series of 1-hour lectures and 2-hour seminars.
• The lectures will provide formal instruction and will give students a detailed overview of the key empirical topics and scholarly debates on the subject that this module explores.
• The seminars will allow students to discuss and debate the topics that they learned in the lecture and from the assigned readings, providing students with a chance to develop their verbal communication skills and gain an advanced understanding of the relevant subjects.
• There will be one formative assessment for this module, namely a 1,500-word review essay that asks the students to critically evaluate one article from a list of articles provided. This assessment will allow students to hone their skills in constructing a critical literature review, whereby they will examine in depth a scholarly argument and evaluate it on its own terms and in relation to competing explanations.
• There will be two summative assessments for this module, namely a 2,000-word research essay and a 3,000-word research essay, whereby students will choose from a series of provided essay questions and subsequently answer them. These assessments will allow students to develop their skills in critical analysis and essay writing, as they will explore in depth key questions related to the role of the financial system within global capitalism.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

The formative assignment is a review essay, whereby students must choose an academic article from a list provided and write a 1,500-word critical review of this article. Students will be asked to evaluate the article according to its own purported logic, against available empirical evidence, and against competing explanations within the literature.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University