The State and the Market: Governance, Institutions, and the Distribution of Power

Introduction

This course provides students with an introduction to the role of the state and the market, and how they interact. It covers core concepts in political economy relating to capitalism, democracy, governance, institutions, and the distribution of power. The course focuses on business and politics at the national level, with central themes such as policymaking, the rationale for market regulation and public services, the Nordic Model, and the study of power distribution.

Course content

1. Introduction to political economy and the state-market relationship
2. Market failures, state failures and the supply of public, private and strategic goods
3. Political and market institutions, decision-making, lobbying, and public choice analysis
4. Institutional, network and governance analyses of the policy process
5. The relationship between states and markets, democracy and capitalism, accountability and efficiency, sustainability and economic growth.