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POL41870

Academic Year 2026/2027

Political Economy of Institutions (POL41870)

Subject:
Politics
College:
Social Sciences & Law
School:
Politics & Int Relations
Level:
4 (Masters)
Credits:
10
Module Coordinator:
Assoc Professor Krishna Chaitanya Vadlamannati
Trimester:
Spring
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

This course takes as its starting point the new literature on institutional economics and comparative political economy, with a focus both on the basic theory and on contemporary empirical research. Institutions have proven important for economic and social development. The course will look at how institutions shape the incentives of economic agents, and how this influence economic outcomes in various contexts. Much discussion nevertheless revolves around which types of institutions matter for long run economic growth and development, and to what extent these institutions change over time. This course takes up a number of topics in development economics in which political economy can provide either another angle or new insights into old issues.

There are four key components in this module. The first part of the course deals with the role of institutions which have proven important for economic development. What are institutions? Why are they important? Who shapes institutions and why? To what extent institutions change over time, and how institutions affect economic growth, investments, and prosperity. The role of geography in slave trade and how slave trade has affected economic growth via low levels of trust in society today. In the second segment of the course will critically examine the role of institutions. In the process, we will explore alternative explanations other than institutions which explain variation in economic development across countries. The third segment in the course will give a broad overview of "Dutch disease" and then turns to its consequences especially for socio-economic and political development. This part of the course also discusses various strategies (tried & tested and untried) available at the disposal of policy makers to counter the “Resource curse" problem. In the final segment, the course will focus on the role of regimes in economic development. What is the concept of democracy? How is it different from Constitutional liberalism? Why is liberal democracy a tough venture? How did the West succeed in managing liberal democracy? Why is there a democracy deficit in the Middle East? Why do democracies prefer FDI? Unpacking the empirical relationship between democracy, income, and socio-economic outcomes. This leads us to the final question on whether China is the new idol for emerging economies?

About this Module

Learning Outcomes:

By the end of the module, you should be able to:

• Explain the key concepts and theoretical foundations of new institutional economics and comparative political economy, including the role of institutions in shaping economic incentives and outcomes.

• Critically evaluate how institutions emerge, evolve, and influence long-run economic growth, investment, and socio-economic development.

• Assess competing explanations for cross-country differences in economic development, including the roles of geography, history, and political institutions.

• Analyse the relationship between historical institutions and contemporary economic and social outcomes, including the long-term consequences of the slave trade and its effects on trust and development.

• Explain and critically assess the concepts of Dutch disease and the resource curse, including their economic, political, and socio-economic consequences.

• Distinguish and critically assess different political regimes and institutional arrangements, particularly democracy, constitutional liberalism, and liberal democracy.

• Analyse the empirical relationships between political regimes, economic development, income, FDI, and broader socio-economic outcomes.

• Apply political economy perspectives to development problems and use evidence from the literature to formulate logically consistent and empirically informed arguments about institutions, resources, and political regimes.

Indicative Module Content:

Key topics covered will be:

1. The concept of institutions. Types of institutions. What are they and why they are important?
2. How institutions shape economic and political outcomes.
3. How are institutions shaped?
4. Who shapes institutions and why?
5. Why explains variation in institutions across the world?
6. Do institutions really matter?
7. The "Dutch disease"
8. Democracy - Development debate.

UNESCO highlights a set of key competencies that support individuals in their development and support society in achieving the UN Sustainable Development Goals (SDGs). UCD has adapted these competencies and is combining them with others to form a general framework of learning competencies. This module will help you develop the competencies below to the levels specified. 
Learning Competency Additional Information Level

Collaboration

 The ability to learn from others; to understand and respect the needs, perspectives and actions of others (empathy); to understand, relate to and be sensitive to others (empathic leadership); to deal with conflicts in a group; and to facilitate collaborative and participatory problem solving. Competent

Critical Thinking

 The ability to question norms, practices and opinions; to reflect on one’s own values, perceptions and actions. Proficient

Systems Thinking

 The ability to recognize and understand relationships; to analyse complex systems; to think of how systems are embedded within different domains and different scales; and to deal with uncertainty. Competent

Strategic

 The ability to collectively develop and implement innovative actions that further sustainability at the local level and further afield. Competent

Integrated Problem Solving

 The overarching ability to apply different problem-solving frameworks to complex sustainability problems and develop viable, inclusive and equitable solution options that promote sustainable development, integrating the competencies in this list. Competent

Self-awareness

 The ability to reflect on one’s own role in the local community and (global) society; to continually evaluate and further motivate one’s actions; and to deal with one’s feelings and desires. Competent

Normative

 The ability to understand and reflect on the norms and values that underlie one’s actions; and to negotiate values, principles, goals, and targets, in a context of conflicts of interest and trade-offs, uncertain knowledge and contradictions. Competent

Anticipatory

 The ability to understand and evaluate multiple scenarios for the future – possible, probable and desirable; to create one’s own visions for the future; to apply the precautionary principle; to assess the consequences of actions; and to deal with risks and changes. Competent

Digital Literacy and Judgement

 The ability to access, evaluate, create and communicate information in digital environments; to engage critically, ethically and responsibly with digital technologies and digital information; to understand their opportunities, limitations, risks and impact on individual’s digital identities; and to exercise informed judgement in digital participation and decision-making. Competent

AI Literacy & Agency

 The ability to understand, critically evaluate and responsibly engage with artificial intelligence; to recognise how AI systems are shaped by human values; to assess their ethical, social and environmental implications; and to exercise human judgement, agency and accountability in AI-related contexts. Competent

Wellbeing

 Wellbeing is having the resources and skills to meet life's challenges, including attributes such as personal development skills, resilience, stress management, strengths, lifestyle skills, nutrition, physical activity, sleep, alcohol/substance use, academic skills, time management, goal setting, interpersonal skills, group work, communication. Competent

Student Effort Hours:
Student Effort Type Hours
Lectures

22
Autonomous Student Learning

228
Total

250

Approaches to Teaching and Learning:
The teaching and learning approaches used in this module will be as follows:

1. Lectures
2. Intensive class discussions.
3. Critical analysis; Review of published research work
4. Problem-based learning
5. Case study-based learning
6. Reviewing research papers, understanding the identification strategy applied in models.

Requirements, Exclusions and Recommendations
Learning Recommendations:

The objective of the module is to give students a solid foundation in the advanced concepts of new institutional economics, as well as a first impression and understanding of the topics studied and the methodologies used at the frontier of institutional research today. Therefore, this module is designed especially for students who are either interested in or intend to specialise in the field of Development Studies, Political Economy, Development Economics and Politics of Development. Therefore, this module is highly recommended for those students who are deeply interested in the afore-mentioned fields.


Module Requisites and Incompatibles
Not applicable to this module.
 

Assessment Strategy
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Viva Voce: The oral examination towards the end of the term is a formal assessment of competence based on oral questioning on subject matter and various topics taught and discussed in the module. Week 12 Graded No
30
 No
Quizzes/Short Exercises: A 60-minute in-class exercises towards the second half of the term, contributing 40% of the overall grade. Week 9 Graded No
40
 No
Individual Project: Individual presentations, accounting for 30% of the overall grade, is administered throughout the semester. Week 6, Week 7 Graded No
30
 No

Carry forward of passed components
No
 

Resit In Terminal Exam
Autumn No
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment

How will my Feedback be Delivered?

1. A written feedback is provided to each student on their oral exam within 20 working days of the exam date in according with university policy.

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
Spring Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Tues 11:00 - 12:50
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