Syllabus
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This course covers the triangulation of the distribution of income and wealth, economic growth and prosperity, and political power. In particular, we address the consequences of inequality of economic resources for macroeconomic developments and the balance of power between interest groups. Based on theoretical literature and recent empirical findings, this course provides:
- An overview of the empirical research on inequality, including a discussion of available data and current methods in inequality Analysis
- A thorough understanding of the theoretical and empirical relationship between inequality and economic growth
- A multi-paradigmatic approach towards power in economic theory
This course aims to:
- Introduce the Post-Keynesian theoretical and empirical literature on the nexus between distribution and economic growth
- Provide a critical assessment of economic theory on the balance of power between interest groups
- Analyze current challenges of inequality and imbalances of power in Austria and the European Union
- Raise awareness of inequality in the light of international and historic research
- Highlight possible solutions and allow students to form their own view on policy issues
After attending the course, students will:
- Know the recent empirical research on the evolution of inequality in income and wealth
- Be aware of the complexity of issues of power in economics and be able to assess various paradigmatic approaches
- Have amplified their stock of arguments for economic debates about inequality, power, and growth
- Be capable of analyzing inequality data, drafting a scientific paper, and presenting their work in a poster session
Attendence is mandatory. There will be compensation exercises in case of absence.
The lecturers introduce the individual topics and provide an overview of the relevant literature. Moreover, we offer a summary of applied research on distribution of income and wealth and present recent findings. Students are expected to draft an empirical seminar paper based on introductory literature provided by the lecturers. This working paper is presented in a poster session, during which the finding will be discussed in a small-group setting. Students should then edit their paper in order to include feedback from their peers and from the lecturers. The final version of the paper is due at the end of the semester.
The course offers a lot of room for discussion in order to permit students to assess various arguments and perspectives, form their own opinion and argue it in a group setting. The teaching is designed to encourage students to actively participate in the debates, raise questions, hone their arguments, and gain experience in presenting their empirical findings in a poster session.
- Short homeworks on selected literature (30% of final mark)
- Poster presentation (30%)
- Draft and final paper (40%)
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