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Department of Economics

Marxist political economy and world development

Course Code:
15PECC047
Unit value:
0.4
Taught in:
Term 2

The main objectives of this course are: to introduce students to Marxist political economy; compare the Marxist approach with alternative theoretical perspectives on capitalism and its drivers and contradictions; compare different approaches to key concepts in Marxian political economy; and examine critically the Marxist contributions to the study of development and contemporary capitalism.

Objectives and learning outcomes of the course

At the end of this course, students will be able to:

  • Identify and understand the most important concepts, debates and problems in Marxist political economy.
  • Critically interpret economic issues, problems and debates in the light of Marxist methods, concepts and contributions.
  • Apply more developed analytical and critical skills through the ideas discussed in the lectures and through individual research.
  • Enhance their communication and critical thinking skills through seminar debate and discussion.

Method of assessment

Assessment weighting: Exam 70%, coursework 30% (3500). Resubmission of coursework regulations do not apply to this course.

Suggested reading

  • Bottomore, T. (ed.) (1991) A Dictionary of Marxist Thought. Oxford: Basil Blackwell.
  • Fine, B. (1980) Economic Theory and Ideology. London: Edward Arnold.
  • Fine, B. and D. Milonakis (2009) From Economics Imperialism to Freakonomics: The Shifting Boundaries Between Economics and other Social Sciences. London and New York: Routledge.
  • Fine, B. and Harris, L. (1979) Rereading ‘Capital’, London: Macmillan.
  • Fine, B. and Saad-Filho, A. (2010) Marx’s Capital, 5th ed. London: Pluto Press.
  • Fine, B. and Saad-Filho, A. (2013) The Elgar Companion to Marxist Economics. Aldershot: Edward Elgar.
  • Harvey, D. (1982) The Limits to Capital. London: Blackwell.
  • Harvey, D. (2010) A Companion to Marx’s Capital. London: Verso.
  • Howard, M.C. and King, J. (1989, 1991) A History of Marxian Economics, 2 Vols. Princeton: Princeton University Press.
  • Milonakis, D. and Fine, B. (2009). From Political Economy to Economics: Method, the Social and the Historical in the Evolution of Economic Theory. London: Routledge.
  • Rubin I.l. (1972) Essays on Marx’s Theory of Value. Detroit: Black and Red.
  • Weeks, J. (2010) Capital, Exploitation and Crises. London: Routledge.