Study Abroad & Exchange Programmes at Glasgow

This course will be a thematic investigation of the causes and consequences of the major economic crises of modern times. Broadly speaking, it will attempt a comparison between the post-2007 crisis with the depression of the 1930s. In addition, it will analyse the most important theories about economic cycles and economic crises. Some of the themes that will be investigated are as follows: the interpretations of the depression of the 1930s; policy experimentation in the 1930s; business cycles and economic crises in Marx and Schumpeter; theories of crises: Kontradiev and Polanyi; stability and crisis in Keynes and Minsky; the ultimate crisis: climate change; a comparison between the Spanish flu and the Covid 19. The course provides a critical analysis of theories about crises and about the structures and processes underlying the global economy and their changing dynamics over time - thus providing important knowledge and awareness for management and business students who should be aware of the broader political economy in which firms and workers operate. The course in a broad sense connects with the following Sustainable Development Goals: SDG 1 - No poverty. End of poverty in all its forms everywhere; SDG 2 - Decent work, economic growth; SDG 9 - Industry, innovation and infrastructure; SDG 13- Climate action

F2F Tutorials: 1hrs x 10 weeks

Asynchronous video lectures: 9 hrs approx..

Synchronous video (revision) lecture: 1 hour

 (Please refer to MyCampus for timetable)

Entry to an Honours programme in Business and Management or a GPA of 12 in the level 2 courses listed below for students taking an Honours programme in another subject.

MGT2002 Business and Management 2A

MGT2001 Business and Management 2B

Alternatively, entry to a Single Honours programme in Economics or Business Economics without previous study of Business and Management.

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None

ILO

Reassessments are normally available for all courses, except those which contribute to the Honours classification. For non-Honours courses, students are offered reassessment in all or any of the components of assessment if the satisfactory (threshold) grade for the overall course is not achieved at the first attempt. This is normally grade D3 for undergraduate students and grade C3 for postgraduate students. Exceptionally it may not be possible to offer reassessment of some coursework items, in which case the mark achieved at the first attempt will be counted towards the final course grade. Any such exceptions for this course are described below. 

This course aims to

■ Review some of the major controversies about economic cycles and prolonged depressions as well as the economic and social evolution of the western world (including Japan).

■ Promote the use of comparative analysis with regard to the economic and social evolution of the largest current economies as well as the global economy.

■ Assess the role of the international monetary system in the working of the international economy.

■ Advance understanding of how Western governments responded to the challenges posed by the depression of the 1930s and of the post-2008 period.

■ Offer an opportunity to develop broader analytical skills through the use and interpretation of specific statistical data sets.

By the end of this course students will be able to:

1. Evaluate some of the major debates about the nature of the depression of the 1930s

2. Examine how monetary policy influenced economic performance in the 1930s

3. Describe how economic crises can influence domestic and international business environments

4. Appraise how monetary and economic policy can counteract a depression and influence economic performance.

5. Demonstrate an understanding of the main theories about prolonged economic crises 

6. Allow participants to develop practical skills in collecting, analysing and presenting primary material and statistical data sets about economic crises.

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