Political School - Politics and the Economy

About The Course

What is the relationship between politics and the economy? How do government decisions affect wages, prices and profit – and how are these decisions affected by the economic structure of our society?

This one-day course looks at how politics is grounded in the economic base of society and, in turn, affects that economic base. Together, we will explore key macroeconomic concepts and discuss role of institutions such as central banks and the bond markets. We will use practical examples to understand the impact of economic decision-making on our daily lives.

Key themes will include:

• Why political economy?
• State decisions on budgets and interest rates
• Deindustrialisation and reindustrialisation
• How to solve the housing crisis
• How political decision-making is affected by the economic structure of society

Students will end the day with a greater understanding of the relationship between politics and the economy, and a working understanding of key macroeconomic concepts.

The course is co-taught by GFTU tutors and members of the economics department at SOAS, University of London. No prior study of economics is required for this course, which is accessible to all trade union activists.