Political economy is premised on an economic analysis of political decisions and their impact on the economy in turn. It deals with the politics of production, distribution, consumption, and appropriation of surpluses. Meanwhile the institutional realities in which markets evolve also produce conditions whereby imposed structural forces dictate the broader terms of socio-cultural and politico-economic exchanges.
The department offers a wide and rich array of research highlighting the central role of political economy and institutional structures. In the field of political economy specifically, we heed multiple perspectives, including mainstream Neoclassical and heterodox traditions e.g Marxian, Neo-Keynesian, and Institutional political economy. We also focus on the set of cultural, legal, moral, and religious institutional structures that uniquely shape social formations in South Asia. We combine these perspectives to analyse questions pertaining to the intersection of class, race, and gender in post-colonial societies, particularly the Indo-Pakistan subcontinent.
One area of particular interest amongst faculty is the political economy of colonialism; in particular the legacy of colonial institutions and their long term impact on economic outcomes. Another key area of interest is the political economy of taxation. A third area of particular interest is institutions and their impact on economic development; a fourth is to examine economic history from a political economy perspective.