Content, progress and pedagogy of the module

This module introduces students to the basic principles of Development Economics and Geopolitical Economy, helping them understand key ideas around how countries grow and develop, and how global political factors influence economies. The focus is on giving students a foundation in the essential concepts of both fields, preparing them for more advanced studies for a future optional more advanced module called Development Economics and Geopolitical Economy offered at the MSc level. At the same time, the course is focused in connecting the historical perspective with relevant current issues.

In the first part, students will dive into the fascinating and complex world of how countries evolve and improve the well-being of their people. This part of the course goes beyond theory by connecting the key principles of economic development to the most pressing real-world challenges and opportunities faced by developing countries today.

Students will explore why some countries grow faster than others, and what practical steps can be taken to improve standards of living. We'll investigate how development is measured, from traditional economic indicators like GDP, to more comprehensive measures like education, health, and equality. These insights will help answer questions such as: Why are some regions stuck in poverty while others thrive? What policies and investments can truly transform a country's future?

By connecting theory to the world around them, the course will help students to understand not just the “how” but the “why” behind development challenges, inspiring ideas for solutions to global poverty and inequality.

In the second half of the module, students will explore how global politics shapes economies, from trade wars to resource competition. By connecting real-world events to economic outcomes, students will learn how power struggles between major players like the U.S., China, and Russia impact global markets, oil prices, and technology.

The course will offer the students to dive into case studies of countries in several areas of the world, revealing how political alliances and conflicts affect their economic fortunes. They will also explore how emerging technologies like cryptocurrencies and CBDC could disrupt the global monetary economy and the geopolitical order. This course links global power dynamics to everyday economic realities and it is also built on knowledge from previous courses such as Macroeconomics IV and topics of International Economics and is designed to give students a broad understanding of the intersection between economics and geopolitical aspects.

Learning objectives

Knowledge

KNOWLEDGE

The objective is that the student after the module possesses the necessary knowledge on:

• Understanding key issues in economic development.
• Learning different theories of development economics.
• Describing major current issues related to global changes in the geopolitical economy.
• Identifying opportunities and risks in international politics.

Skills

SKILLS

The objective is that the student after the module possesses the necessary skills in:

• Learning to analyze data, theories, and policies to understand economic and geopolitical issues.
• Conducting research on economic development and global politics.
• Evaluating the effects of economic policies and geopolitical strategies on different groups.
• Improving communication skills to engage with diverse cultures and perspectives globally.

Competences

COMPETENCIES

The objective is that the student after the module possesses the necessary competences in:

• Understanding key principles and current trends in development and geopolitical economics.
• Evaluating the impact of global events on economic policies and development strategies.
• Applying critical thinking to assess solutions for contemporary economic and geopolitical challenges.
• Collaborating effectively in diverse teams to address global economic issues.

Exam

Prerequisite for enrollment for the exam

• Submission of the written assignment.

Exams