This course is designed to provide students with an introduction in the field of political economy. Political economy seeks to understand and explain policy outcomes and political behavior. The approach taken is an interdisciplinary one that utilizes tools and concepts from economics to study politics and political behavior. The course will presume that political actors are rational and goal oriented. Political outcomes are then explained by the interaction between these actors within the (institutional) constraints of their environment. This course aims to enable students to apply economic theories and concepts to the study of political action and the formation of policy. Students will learn how economic and political forces may shape the incentives and constraints of policymakers and other political actors. Furthermore, this course will enable students to recognize the role of institutions in shaping both political action and policy outcomes.

Recommended Books

∙ Shepsle, K.A. ​Analyzing Politics: Rationality, Behavior, and Institutions​ 2nd Edition (2010). W. W. Norton & Company
∙ ​Kardar, S. (Latest Edition). The Political Economy of Pakistan. Progressive Publishers Supplementary Texts
∙ ​Riker, W.H. (1988). Liberalism Against Populism: A Confrontation Between the Theory of Democracy and the Theory of Social Choice. Waveland Press
∙ ​Nadeem, A.H. (2002). Pakistan: The Political Economy of Lawlessness. Oxford University Press
∙ ​Hussain, I. (1999). Pakistan: The Economy of an Elitist State. Oxford University Press Course

Course Pre-requisites:

Principles of Economics & Political Science

Learning Outcomes:

Students will be able to learn after completion of this course:

• To know about economic liberalism and their critiques.
• Learn ethical and philosophical dimensions of public policy and its interaction with economic and political system.
• Be able to understand, interpret, and critically evaluate empirical evidence on economic, political, and public policy questions, including qualitative, quantitative, and formal statistical and econometric evidence.
• To know importance of public goods and global governance.

Class Timings: Tuesday & Thursday (01.00 to 02.30 pm)

Evaluation Criteria:

Mid Term Exam                                  30 Marks

Final Term Exam                                 50 Marks

Sessional Mark                                    20 Marks

Please note that sessional marks will be distributed as:

Attendance                                         05 Marks

Assignments                                       10 Marks

Class Participation                              05 Marks