POLS-277 Ideas and Principles of Political Economy: An Introduction
The course introduces non-economics major students to the basic concepts and ideas to understand how policymaking is influenced by economic conditions, political beliefs, societal ideals, and international events. Studying economic policy allows students to be informed citizens and advance their professional skills for sound analysis. The first part of the course aims to provide an accessible introduction to the lives and works of influential economists of modern times, from Adam Smith to Daniel Kahneman and Amartya Sen. The second part focuses on key concepts to learn the role played by the division of labor, wages and rents, cognitive biases, saving, entrepreneurship, game theory, liberalism, laissez-faire, and welfare economics. Also, the course will explore the basic tenet of policies that impact an economy's overall function. These include fiscal, monetary, trade, and social welfare. This course is recommended for students taking POLS 310: Global Political Economy.