Introduction to Political Economy

This class provides an introduction to topics in political economy with a focus on using basic models to understand both individuals and groups facing a variety of social dilemmas. Simple formal models will provide a framework for understanding problems in politics and political economy, including the collective action problem, prisoner’s dilemma, coordination problems, and more generally the importance of formal and informal institutions in guiding social outcomes. The class surveys major thinkers in political economy and uses their ideas to understand major changes in society, markets, and states from an historical perspective.