Advanced Political Economy II

Current Courses

The Classical Theory of Price

GECO 6211 - Syllabus

This seminar analyzes the relation between Ricardo, Sraffa, and Marx on the questions surrounding the theory of value. It also examines various developments of Sraffa's work and attempts to assess their theoretical and empirical significance. Readings include parts of Ricardo's Principles, Sraffa's Production of Commodities by Means of Commodities, Steedman's Marx After Sraffa, and the more recent debates between the neo-Ricardians and various Marxists.


Topics in Economic Analysis: Inflation

GECO 6210 - Syllabus

This seminar focuses on the problem of inflation. We will examine price patterns going back several centuries, as well as past episodes of inflation on a world scale. The course will also examine competing theoretical explanations of inflation. Students are expected to conduct empirical research on two different countries, one in the developed world and one in the developing world, and are expected to present their results in class. Grades for the course will be based on these presentations.

Seminar on Growth and Cycles

GECO 6208 - Syllabus

This course analyzes various models of growth and cycles, including those of Samuelson, Hicks, Kalecki, Kaldor, Goodwin, as well as more recent models emerging from the nonlinear dynamics literature. We will begin with an overview of the empirical evidence, and then proceed to a review of the mathematics of linear and nonlinear difference and differential equations. These tools will then be used to analyze various cycle and growth models (including ones with limit cycles and chaotic dynamics). Instruction will also be provided in the use of simulation software. Students will be required to write a paper for course credit, and will be encouraged to develop and present their own applications, either singly or as part of a group.


Advanced Political Economy II

GECO 6205 - Syllabus

The Economic Analysis of Advanced Capitalism II

This course is concerned with the analysis of advanced capitalism. Although it will begin with a survey of the state of the global economy, its focus will be on the structure and dynamics of the center. The turbulent dynamics of the system, which express themselves as order generated in-and-through disorder, will be shown to give rise to patterns of recurrence over a wide variety of domains. In this course we will examine the empirical evidence and the theoretical claims of classical, neoclassical, and postkeynesian theories concerning the determination of prices, profits, production, interest rates, stock market prices, exchange rates and international trade. A subsequent course may extend the discussion to the analysis of money, credit, effective demand, growth, unemployment, inflation, technical change, cycles, long waves, and recurrent crises. A prior background is required in first year graduate macroeconomics and microeconomics, and in the history of economic thought.