The global economy has long been recognized as a complex system, made up of many variable factors in circular relationships. This course aims to introduce students to the complexity of the international monetary, financial and trade systems, as seen through the relationship between the state and market. Some classical debates between the theorists supporting a minimal versus expanded role of the state in regulating the market will be discussed.

In addition, the question will be poised whether the state remains the most important player in the global economic system or whether it is losing power to other actors such as Multinational Companies or civil society. Economic growth models covered will show students how to compare varieties of capitalist economies. Students will critically analyse dilemmas faced by the state, with emphasis on financial crises and regulation. Students will gain knowledge on aspects of the crucial relationship between the market and democracy. A written policy brief will be the final outcome of the course.

Lecturer: Prof. Marta Golonka, Jagiellonian University (Poland)