CSOC 26A01 - Introduction to the Sociology of Markets

Mainstream economics see the economy as the outcome of rational forces coming together even when there is some acknowledgement of the existence of something beyond that simplification. Sociology claims that economic decisions, even when they have a clear rational objective (i.e. like the maximization of utility), are contingent upon social devices such as norms, traditions, power constrains, family and friendship ties. The core objective of this course is to provide a good introduction to the contributions of sociology to understanding the complexity of economic phenomena and, particularly, of markets. To do so, the first part of the course reviews the way economic life and markets are addressed in classical and contemporary sociology. We will then move to study the specific sociological approaches to markets. Specifically, we will study and critically engage with several key discussions: the embeddedness of markets, the role of cognitive mechanisms and devices, economists making markets, among others. Throughout the course, students will be encouraged to think how the concepts and sociological findings we explore are useful for explaining cases that are relevant to them. Additionally, the course has the purpose of teaching good analytical reading habits and critical thinking. In that sense, students will be assigned one of the mandatory readings and they will to make a critique and a presentation analyzing its main components. Session 1: Introduction and practicalities Session 2: The economy in Classical Sociology Session 3: The re-invention of Economic Sociology in the late 20th century Session 4: The place of markets in Economic Sociology Session 5: The embeddedness of markets and its consequences for efficiency and trust Session 6: Making markets: the role of economics and the economists Session 7: Infrastructures, calculation, categorization and representational devices in markets Session 8: Markets, politics and institutions Session 9: Markets and the state Session 10: Financial Markets and the financialization of the economy Session 11: The toolbox of sociologists studying markets Session 12: Putting concepts to trial

Andrés CHIRIBOGA

Séminaire

English

Students will be assigned one of the weekly required readings of the course and they will write a critique and a 20-minute presentation (individual or in couples) analyzing its main components. The final assignment will be an essay on a market of the student's choice based on one of several questions provided for the purpose. Weekly participation is a key element of the course and will count importantly into the grading structure. Involvement in the final session called « Putting a concept to trial » will contribute importantly to the participation grade.

A background in sociology and/or economics is helpful but not compulsory. The course is intended and designed in a way to introduce students to the sociological approach on markets and to show them the interconnections (and tensions) between this discipline and others. The first sessions will be destined to a revision of key concepts in Sociology that are useful for the entire course. Also, the following support texts are recommended for the purpose: The Sociology of Economic Life (Granovetter and Swedberg 2001) Principles of Economic Sociology (Swedberg 2007) Market Society (Slater and Tonkiss 2000) Information, Knowledge and Economic Life (Preda 2009)

Spring 2023-2024

Participation: 10% Text critique: 15% Presentation: 25% Final essay: 50%

Cours séminaire