Admission requirements
This course is only available for students in the BA International Studies programme.
Limited places are also open for exchange students.
Please note: this course takes place in The Hague. Traveling between University buildings from Leiden to The Hague may take about 45 minutes.
Description
The Foundation of Political Economy provides an introduction and overview to the key theories, concepts and themes that define the field of political economy. The course intends to provide students with an inspiring and compelling introduction to the field, and illustrate how the concepts relate to contemporary cases in the global economy. The objective of the course is to illustrate the importance and interest of the field of political economy.
The course begins with a brief overview of the classical political economists. These include Adam Smith, David Ricardo and Karl Marx. The course examines the central theories of these scholars and examines their strengths and weaknesses and the manner that they have been applied to policy. We will discuss the way in which classical thinkers have provided the foundation of different approaches to the capitalist system, both mainstream and critical.
The course then moves onto examine the developments of political economy in the 20th century and will include a focus on scholars such as John Meynard Keynes and Friedrich Hayek. The course also looks at the way in which global South scholars developed concepts over the configuration of the capitalist system and its integration of colonised states. Lastly the course examines contemporary issues of political economy such as state capitalism, the environment, gender, and race.
The main aim of the course is to introduce the core ideas of political economy in a way that is accessible, informative and helpful.
Course objectives
Students will:
possess an understanding of key concepts and theoretical approaches in classical and contemporary political economy.
develop an ability to examine insights from main political economy approaches and theories and its debates.
develop a critical understanding of the key theories and how they have been applied to policy.
develop an understanding of how political economy relates to the social science and humanities.
Timetable
The timetables are available through My Timetable.
Mode of instruction
Lectures
Lectures are held every week, with the exception of the midterm exam week. Weekly lectures will cover issues both inside and outside the readings.
Tutorials
Tutorials are held once every two weeks, with the exception of the midterm exam week. Attending all tutorial sessions is compulsory. If you are unable to attend a session, please inform your Tutorial-lecturer in advance. Being absent at more than two of the tutorial sessions will result in a lowering of your tutorial grade (40% of the end grade) with 1 point for each session missed after the first two sessions. Please note that being absent at any tutorial session may have a negative impact on the grade of the assignment due for that particular tutorial session. This is at the discretion of the Tutorial-lecturer.
Assessment method
Assessment
- Final Exam:
Written examination with short open questions and (up to) 50% multiple choice questions.
Weighing
| Partial grade | Weighing |
|---|---|
| Tutorials | 40% |
| Final Exam | 60% |
End Grade
To successfully complete the course, please take note of the following:
The end grade of the course is established by determining the weighted average of Tutorial grade and Final Exam grade.
The Final Exam grade needs to be 5.5 or higher.
This means that a failing Exam grade cannot be compensated with a high Tutorial grade.
Resit
If the end grade is insufficient (lower than a 6.0), or the Final Exam is lower than 5.5, there is a possibility of retaking the full 60% of the exam material, replacing the earlier Final Exam grade. No resit for the tutorial is possible.
Please note that if the Resit Exam grade is lower than 5.5, you will not pass the course, regardless of the tutorial grade.
Retaking a passing grade
Please consult the Course and Examination Regulations 2025 – 2026.
Exam review and feedback
How and when an exam review will take place will be disclosed together with the publication of the exam results at the latest. If a student requests a review within 30 days after publication of the exam results, an exam review will have to be organised.
Reading list
Reading list will be made available on Brightspace at the start of the course. There is no particular textbook for this course. Readings are mostly journal articles and chapters of books indicated in each lecture topic. We expect students to read them before coming to the class. We also encourage students to read popular political economy books. Ideally, students should read widely and critically.
Registration
- Enrolment through My Studymap is mandatory.
General information about course and exam enrolment is available on the website.
Registration Exchange
For the registration of exchange students contact Humanities International Office.
Contact
For substantive questions, contact the lecturer listed in the right information bar.
For questions about enrolment, admission, etc, contact the Education Administration Office: Student Affairs Office for BA International Studies
Remarks
Students are expected to be familiar with Leiden University policies on plagiarism and academic integrity. Plagiarism will not be tolerated. If you submit any work with your name affixed to it, it is assumed to be your own work with all sources used properly indicated and documented in the text (with quotations and/or citations). The use ofAI chatbot (i.e., ChatGPT) for assignments and final essay is not permitted.