KAFP 6315 - The Political Economy of Public Debt in Europe

This course studies the issue of public debt in the context of Europe – both as a phenomenon that increasingly affects European countries and as a central problem in European integration that featured prominently in Europe's greatest economic crisis to date. The starting point for the discussion in the first week is the orthodox economic view of the causes of and problems generated by public debt. The rest of the course deconstructs that orthodox view through a political economic analysis to highlight how much of what economists take for granted is actually rooted in political decisions, conflicts and compromises, and to offer a range of alternative interpretations of what public debt is, where it comes from, what problems it causes, what solutions are possible and how it should/could be handled to cause fewer problems within European integration. The course relies on independent study, class discussion and student projects.
Zsófia BARTA,Thomas LAFFITTE
Cours magistral seul
English
Spring 2024-2025
Active class participation – 10% Presentation – 10% Four reflection papers – 40% Research paper – 40%
Streeck, W. (2014). Buying time: The delayed crisis of democratic capitalism. Verso Books.
Barta, Z.(2018). In the Red: the politics of public debt accumulation in developed countries. University of Michigan Press.
Alesina, A., & Perotti, R. (1996). Fiscal discipline and the budget process. The American Economic Review, 86(2), 401-407.