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University of Exeter Business School

International Political Economy

Module titleInternational Political Economy
Module codeBEE3042
Academic year2023/4
Module staff

Mr Rakesh Banerjee (Convenor)

Duration: Term123
Duration: Weeks




Number students taking module (anticipated)


Module description

The module focuses on the relation between institutions and economic development. Societies across the world are organized in different ways. These differences in organization often leads to differences in economic outcomes. The module will look into questions such as: do institutions matter? what features of institutions foster economic development? and why certain institutions emerge in certain places? This module will consider institutions as both formal institutions like law and political organization as well as informal institutions like norms and culture.

Additional Information:


The module critically looks at the role of institutions, particularly political institutions, to explain differences in economic outcomes across societies. Thus, the course is inherently international.


Students will get a chance to get themselves acquainted with the theoretical and empirical tools used by top researchers in the field. In addition, students will also have an opportunity to develop their writing and analytical skills. These skills are valued by employers.

The assessment structure on this module is subject to review and may change before the start of the new academic year. Any changes will be clearly communicated to you before the start of term and if you wish to change module as a result of this you can do so in the module change window.

Module aims - intentions of the module

The aims of the module are to develop the themes introduced in the first year modules in the Introduction to Political Economy and the Philosophy of Economics by their application to contemporary issues in globalisation, ethics and morality, economic methodology and ideology.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

  • 1. Describe the concept of institutions.
  • 2. Explain the role of institutions in shaping economic conditions.
  • 3. Explain the role of history in shaping institutions.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

  • 4. Discuss an important underlying framework for economic development.
  • 5. Indicate the frontier research topics in the area of economic development.

ILO: Personal and key skills

On successfully completing the module you will be able to...

  • 6. Demonstrate writing and analytical skills.

Syllabus plan

  • Introduction
  • The empirical relationship between institutions and economic development
  • Colonialism and institutions
  • Persistence of institutions
  • Functions of institutions
  • Democracy and economic development
  • Social institutions
  • Historical conditions and institutions in Africa
  • Historical conditions and institutions in the Middle East

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning and Teaching Activity20Lectures
Scheduled Learning and Teaching Activity5Seminars
Guided Independent Study125Researching, reading, reflection; Preparation for lectures, tutorials and seminars;

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Students will be provided with materials for discussion in tutorials. Feedback will be provided on the basis of the discussion. 60 Minutes1-6Oral/Online

Summative assessment (% of credit)

CourseworkWritten examsPractical exams

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Written examination802 hours1-6Written(via ELE/eBart)
Individual Ex202000 words1-6Written(via ELE/eBart)

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Examination (80%)2 Hours Exam1-6Referral/Deferral Period
Individual Essay (20%)2000 words1-6Referral/Deferral Period

Indicative learning resources - Basic reading

    • Articles to be provided in the syllabus

             Avner Greif, “Institutions and Path to Modern Economy”, 2006.

Key words search

Institutions, Political Economy.

Credit value15
Module ECTS


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NQF level (module)


Available as distance learning?


Origin date


Last revision date