Outline

Overview

This unit explores different views about the economy, the role of government, policies, and the causes, social and political aspects of economic events. You are introduced to the principal schools of economic thought -Classical, Marxian, Institutional, Neoclassical, Keynesian and Contemporary Political Economy. You will learn to apply these different perspectives to a political economy analysis of contemporary issues like climate change, social protest, the gig economy, wage theft, and global health pandemics. You will study the analytical focus, core concepts and insights of the different schools of economic thought within the context of the historical development of capitalist economies.

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	Luciano Carment, luciano.carment@sydney.edu.au

Assessment

The census date for this unit availability is 31 March 2026

Details
Criteria

Type	Description	Weight	Due	Length	Use of AI
Interactive oral	Interactive Oral Presentation and question-and-answer components	35%	Formal exam period	15 minutes (1500 words equivalent)	AI prohibited
Outcomes assessed:
In-class quiz	Lecture Quiz Quiz conducted during lectures	20%	Multiple weeks	100 words per week	AI allowed
Outcomes assessed:
Out-of-class quiz	Online Quiz (EFT) Multiple-choice questions #earlyfeedbacktask	0%	Week 03 Due date: 13 Mar 2026 at 23:59 Closing date: 13 Mar 2026	Max. 15 minutes	AI allowed
Outcomes assessed:
Written work	Comparative Essay Evaluate competing schools of economic thought	45%	Week 06 Due date: 03 Apr 2026 at 23:59	1800 words	AI allowed
Outcomes assessed:
= early feedback task ?

Early feedback task

This unit includes an early feedback task, designed to give you feedback prior to the census date for this unit. Details are provided in the Canvas site and your result will be recorded in your Marks page. It is important that you actively engage with this task so that the University can support you to be successful in this unit.

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 (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	When you meet the assessment criteria and learning outcomes to an exceptional standard.
Distinction	75 - 84	When you meet the assessment criteria and learning outcomes to a very high standard.
Credit	65 - 74	When you meet the assessment criteria and learning outcomes to a good standard.
Pass	50 - 64	When you meet the assessment criteria and learning outcomes to an acceptable standard.
Fail	0 - 49	When you do not meet the assessment criteria and learning outcomes to a satisfactory standard.

For more information see guide to grades.

Use of generative artificial intelligence (AI)

You can use generative AI tools for open assessments. Restrictions on AI use apply to secure, supervised assessments used to confirm if students have met specific learning outcomes.

Refer to the assessment table above to see if AI is allowed, for assessments in this unit and check Canvas for full instructions on assessment tasks and AI use.

If you use AI, you must always acknowledge it. Misusing AI may lead to a breach of the Academic Integrity Policy.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

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 University expects students to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

Our website provides information on academic integrity and the resources available to all students. This includes advice on how to avoid common breaches of academic integrity. Ensure that you have completed the Academic Honesty Education Module (AHEM) which is mandatory for all commencing coursework students

Penalties for serious breaches can significantly impact your studies and your career after graduation. It is important that you speak with your unit coordinator if you need help with completing assessments.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Learning support

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.

Support for students

The Support for Students Policy reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction	Lecture (2 hr)
Week 02	What is political economy?	Tutorial (1 hr)
Week 02	Understanding the economy	Lecture (2 hr)
Week 03	What is capitalism?	Tutorial (1 hr)
Week 03	Classical political economy	Lecture (2 hr)
Week 04	How do economies grow?	Tutorial (1 hr)
Week 04	Marxist political economy	Lecture (2 hr)
Week 05	Where do profits come from?	Tutorial (1 hr)
Week 05	Neoclassical economics	Lecture (2 hr)
Week 06	Are markets efficient?	Tutorial (1 hr)
Week 06	Institutional economics	Lecture (2 hr)
Week 07	Why do economic institutions matter?	Tutorial (1 hr)
Week 07	Keynesian economics	Lecture (2 hr)
Week 08	How should governments manage the economy?	Tutorial (1 hr)
Week 08	Researching and writing political economy	Lecture (2 hr)
Week 09	Environmental political economy	Lecture (2 hr)
Week 10	Is capitalism sustainable?	Tutorial (1 hr)
Week 10	Feminist political economy	Lecture (2 hr)
Week 11	How does gender influence work and care?	Tutorial (1 hr)
Week 11	Decolonial political economy	Lecture (2 hr)
Week 12	Is economics Eurocentric?	Tutorial (1 hr)
Week 12	Competing schools of economic thought	Lecture (2 hr)
Week 13	Why do economists disagree?	Tutorial (1 hr)
Week 13	Political Economy Now! How can we use political economy to make the world better?	Lecture (2 hr)

Attendance and class requirements

Attendance: students are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you will be referred to the Examiner’s Board which will decide whether you should pass or fail the unit of study if your attendance falls below this threshold. Attendance will be taken at lectures and tutorials.
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

Readings are available on Canvas.

Learning outcomes

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.

Outcomes
Graduate qualities

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

LO1. Demonstrate literacy in basic economic concepts.
LO2. Analyze the strengths and limitations of basic analytical tools used in economic analysis.
LO3. Independently gather information from libraries and other sources.
LO4. Evaluate information collected to construct answers to economic questions.
LO5. Explain the connections between different views on economic issues and different schools of economic thought.
LO6. Demonstrate the capacity for thinking critically about contemporary political economic issues.
LO7. Create clearly written arguments about political economic issues.

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
Learning outcomes

Responding to student feedback

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

The weekly learning activities have been updated in response to student feedback, particularly with respect to essay writing skills and opportunities for feedback.

Disclaimer

Important: the University of Sydney regularly reviews units of study and reserves the right to change the units of study available annually. To stay up to date on available study options, including unit of study details and availability, refer to the relevant handbook.

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

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links

ECOP1001: Economics as a Social Science

Semester 1, 2026 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links