ECOP6101: Semester 1, 2021

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Units ECOP6101 Semester 1 2021 [Normal day]

Unit of study_

ECOP6101: Core Concepts in Political Economy

Semester 1, 2021 [Normal day] - Camperdown/Darlington, Sydney

Overview

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

Unit code	ECOP6101
Academic unit	Political Economy
Credit points	6
Prohibitions ?	None
Prerequisites ?	None
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Elizabeth Hill, elizabeth.hill@sydney.edu.au

Type	Description	Weight	Due	Length
Assignment	Essay 1 Research Essay	50%	Week 08 Due date: 30 Apr 2021 at 23:59	3000 words (excluding bibliography)
Outcomes assessed:
Assignment	Essay 2 Research Essay	50%	Week 13 Due date: 04 Jun 2021 at 23:59	3000 words (excluding biblography)
Outcomes assessed:

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 sydney.edu.au/students/guide-to-grades.

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.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

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.

Weekly schedule

WK	Topic	Learning activity
Week 01	Why Study Political Economy?	Seminar (2 hr)
Week 02	Early Political Economy - From Antiquity to Mercantilism	Seminar (2 hr)
Week 03	Classical Political Economy - From the Physiocrats on Land to Adam Smith's Invisible Hand	Seminar (2 hr)
Week 04	The Massive Dissent of Karl Marx	Seminar (2 hr)
Week 05	The Rise and Rise of Neoclassical Economics	Seminar (2 hr)
Week 06	The Economics of John Maynard Keynes	Seminar (2 hr)
Week 07	Power & Prejudice - Veblen, Galbraith & the Institutional School	Seminar (2 hr)
Week 08	Essay Writing Workshop	Seminar (2 hr)
Week 09	Feminist Political Economy	Seminar (2 hr)
Week 10	Social Reproduction Theory	Seminar (2 hr)
Week 11	Political Economy of the Environment	Seminar (2 hr)
Week 12	Inequality	Seminar (2 hr)
Week 13	Pandemic Political Economy - Responses to the Covid-19 Crisis	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

Readings

Students are expected to read the Required Readings available through eReserve and direct links.

The Optional Readings are there for your interest and may be useful in conducting research for the essays.

There is no set textbook for this Unit but the following books are recommended.

Stilwell, F. (2012). Political Economy: The Contest of Economic Ideas, Third Edition, Melbourne: Oxford University Press. (Available in Fisher Library).

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

Heilbroner, R. (1986). The Worldly Philosophers: the lives, times, and ideas of the great economic thinkers, New York: Simon & Schuster (6th Edition). (Available in Fisher Library).

Galbraith, J.K. (2001). The Essential Galbraith, Boston, Massachusetts: Mariner Books. (Not available in Fisher Library).

Sandmo, A. (2011). Economics Evolving: a history of economic thought, Princeton, N.J. : Princeton University Press. (Available in Fisher Library).

Stanford, J. and T. Biddle. (2008). Economics for Everyone: a short guide to the economics of capitalism, London; Ann Arbor, MI: Pluto Press. (Available in Fisher Library).

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. 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
Learning outcomes

Responding to student feedback

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

The Unit has been changed to reflect the 12 week Semester. No assessments have been altered but two additional topics (The Political Economy of Basic Income and Pandemic Political Economy) have been added to the program to reflect contemporary debates.

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.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

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

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