Political Economy

What does it mean to understand the economy through the lens of power? What are the key power relations in the Indian economy?

You could start with a simple question: Why, in the 21st century, are some workers still not entitled to bathroom breaks? This course will offer you an introduction to alternative theoretical perspectives in economics that help answer this and other important questions about the nature of economics: Marxist, feminist, and ecological approaches. You will look at the genesis of these approaches and how they differ from the neoclassical framework of economics. You will examine in detail how power affects economic and social outcomes using concepts such as surplus, crisis, alienation, inequality, conflict and discrimination. We use Indian data to examine class and group-based inequalities, ask questions about how large crises can be manged when viewed through different lens. You can also choose from electives to study institutional, Austrian and postcolonial economics.