Economics essay about Inequality

MODULE SPECIFICATION KEY FACTS Module name The Political Economy of Global Inequality Module code IP3034 School School of Arts and Social Science Department or equivalent

Department of International Politics

UK credits 15 ECTS 7.5 Level 5 Delivery location (partnership programmes only)

MODULE SUMMARY Module outline and aims This module explores wealth and income inequality from a historical and global perspective. In particular, the module examines inequality within countries, between countries and among citizens of the world. There is a general consensus that inequality within countries and among the world's citizens has increased over the past few decades, while inequality between countries has decreased. What remains hotly contested within political economy are the precise causes and consequences of these changes in the global pattern of wealth and income distribution. The first part of the module will introduce students to the competing theories of global inequality and examine in-depth empirical patterns of wealth and income distribution across space and time. The second part of the module will focus on how wealth and income inequality relates to other key issues (e.g. ecology, financial stability and violence) and how it intersects with other forms of inequality (e.g. race and gender). The third and final part of the module will critically evaluate policy initiatives aimed at tackling inequality Special emphasis will be placed on equipping students with skills to conduct their own independent research on wealth and income inequality. Students will be introduced to various data sources, including, inter alia, the World Income Inequality Database and the World Wealth and Income Database. The module

will also assess various empirical techniques for measuring wealth and income inequality and the assumptions that inform these methodological choices. The aims of the module are: -To introduce students to the theories of wealth and income inequality, both mainstream and heterodox. -To familiarize students with cross-national and global patterns of wealth and income distribution as they unfold over time. -To develop critical analytical skills to study the causes and consequences of changing patterns of wealth and income distribution. -To equip students with independent skills to conduct theoretical-empirical research on inequality. Content Outline Wealth and income inequality has become one of the defining issues of contemporary capitalism. Researchers have shown how inequality contributes to a number of social ills, including ecological degradation, financial instability, geopolitical turmoil and even the rise of extremist groups like ISIS. Yet despite the importance of global inequality, political economists cannot agree on what drives it. Why does the pattern of wealth and income distribution within countries, between countries and among all citizens of the world change over time? Are disparities in the distribution of wealth and income due to intelligence, talent or luck? Or are they better analyzed with reference to politics and social power? This module tackles these questions by introducing students to wealth and income inequality, both theoretically and empirically. The assignments in this course will give students the opportunity to conduct their own independent research on a particular aspect of global inequality.

WHAT WILL I BE EXPECTED TO ACHIEVE? On successful completion of this module, you will be expected to be able to: Knowledge and understanding:

 Know the strengths and weaknesses of theories of wealth and income inequality and the normative assumptions that underpin them.

 Understand patterns of wealth and income distribution across space and time.

 Critically evaluate policies and proposals for addressing inequality at the national and global levels.

 Understand the key uses and assumptions of statistical methods used to measure wealth and income distribution.

Skills:  Access and use sources for data on the distribution of wealth and income and

be familiar with their advantages and disadvantages.  Develop and apply theoretical frameworks and concepts to explain empirical

patterns of wealth and income distribution.  Articulate and discuss the findings of your analysis within a group environment

and in individual writing.

Values and attitudes:  Recognise the centrality of wealth and income distribution to the global political

economy.  Appreciate the inter-disciplinary nature of the subject matter.

HOW WILL I LEARN? Acquisition of knowledge and understanding is promoted through a combination of lectures and interactive classes with a strong emphasis on students' participation. You are encouraged to undertake extensive reading and independent study in order to understand the topics covered in lectures and classes and to broaden and deepen your knowledge of the subject. You also receive feedback on your research to encourage you to reflect on what you have analyzed. Teaching pattern: Teaching componen t

Teaching type

Contact hours (schedule d)

Self- directed study hours (independen t)

Placeme nt hours

Total studen t learnin g hours

Lecture -led Lecture 10 10 0 20 Presentatio n, workshops, seminars

tutorial 10 20 0 30

Independen t Research

Guided Independe nt Study

100 100

150

WHAT TYPES OF ASSESSMENT AND FEEDBACK CAN I EXPECT? Assessments In class exam: 30% of the final mark Extended essay: 3500 words, 70% of final mark Assessment pattern:

Assessment component

Assessment type

Weighting Minimum qualifying mark

Pass/Fail?

In-class exam Written exam 30 30 N/A

Extended essay

Written assignment

70 30 N/A

Assessment criteria Assessment Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate in order to complete an assessment successfully and Grade- Related Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate to achieve a certain grade or mark in an assessment. Assessment Criteria and Grade-Related Criteria for module assessments will be made available to students prior to an assessment taking place. More information will be available from the module leader. In the event that the Group Research Project is ‘resit’, the student will complete an individual research project with a 1,000 word limit. Feedback on assessment Following an assessment, students will be given their marks and feedback in line with the Assessment Regulations and Policy. More information on the timing and type of feedback that will be provided for each assessment will be available from the module leader. Assessment Regulations

The Pass mark for the module is 40%. Any minimum qualifying marks for specific assessments are listed in the table above. The weighting of the different components can also be found above. The Programme Specification contains information on what happens if you fail an assessment component or the module.

INDICATIVE READING LIST

 Milanovic, Branko. 2016. Global Inequality: A New Approach for the Age of Globalization. Cambridge: Harvard University Press.

 Piketty, Thomas. 2014. Capital in the Twenty-First Century. Cambridge: Harvard University Press.

Version: 1.0 Version date: March 2016 For use from: 2016/17 Appendix: see http://www.hesa.ac.uk/component/option,com_studrec/task,show_file/Itemid,233/ mnl,12051/href,JACS3.html/ for the full list of JACS codes and descriptions CODES HESA Cost Centre Description Price Group 128 Politics and

International studies D

JACS Code Description Percentage (%) L150 L170 L160

Political Economics Economic Systems International Economics

50 30 20