Political Economy of Global Finance

Module description

This module examines the political economy of global monetary and financial relations. It is structured around such questions as: What is the global financial system and what purposes does it serve? What are the choices of monetary and financial policies open to national governments, and what determines governments’ different policy choices? How do governments and markets interact in the arena of global finance? How do private actors influence the governance of international finance? When and why are efforts to regulate global markets successful, and what are the distributional consequences of such efforts? What are the political causes and effects of global financial crises? In seeking answers to these questions, this module focuses on empirical and theoretical political economy models of money and finance. 

Assessment details

3,000-word essay (100%)

Educational aims & objectives

• Provide students with an authoritative understanding of the main concepts and analytical tools in the political economy of global finance, drawing from different disciplines, including: global capital markets; the interplay of interests, institutions, and ideas in shaping financial policy; national and international currencies; the monetary policy trilemma; theories of global financial instability; and global financial governance;
• Offer students a policy-relevant perspective through which they are challenged to deepen their understanding of the contemporary challenges posed by global financial integration;
• Discuss the determinants of monetary and financial policy, with a view towards understanding the costs and benefits of alternative policy choices;
• Equip students with transferable skills, such as critical thinking, teamwork, problem solving, communication, and the ability to translate academic knowledge into policy-relevant insights.

Learning outcomes

Upon successful completion, students will be able to:

• Demonstrate knowledge of the analytical tools used to study global monetary and financial relations, drawing from an interdisciplinary perspective;
• Analyse contemporary developments in finance and financial regulation at the national and global levels;
• Critically evaluate the political and economic trade-offs implied by different monetary and financial policy options;
• Transfer the skills they learned – including critical thinking, teamwork, problem solving, and communication – to a professional environment.

Teaching pattern

1 hour lecture & 1 hour seminar every week

Module description disclaimer

King’s College London reviews the modules offered on a regular basis to provide up-to-date, innovative and relevant programmes of study. Therefore, modules offered may change. We suggest you keep an eye on the course finder on our website for updates.

Please note that modules with a practical component will be capped due to educational requirements, which may mean that we cannot guarantee a place to all students who elect to study this module.

Please note that the module descriptions above are related to the current academic year and are subject to change.