Information Package / Course Catalogue
Political Economy of Finance
Course Code: ECN510
Course Type: Area Elective
Couse Group: Second Cycle (Master's Degree)
Education Language: Turkish
Work Placement: N/A
Theory: 3
Prt.: 0
Credit: 3
Lab: 0
ECTS: 5
Objectives of the Course

The aim of this course to analyze the roles played by financial markets and institutions in the process of capital accumulation.

Course Content

The original position of finance in capitalism, the role of finance in exploitation relations, the Marxist critique of neoclassical finance theory, the political economy of derivatives, financialization and the political economy of financial risk...

Name of Lecturer(s)
Learning Outcomes
1.Understands the position of finance in the political economy literature.
2.Analyzes how countries that have risen to the hegemonic power position in history use financial mechanisms in the process of capital accumulation.
3.Relates basic political economy concepts to modern financial instruments and mechanisms.
4.Will be able to criticize neoclassical financial economics with the main arguments of political economy.
5.Comprehends the role of financial mechanisms holistically in capitalist economic crises and depressions.
Recommended or Required Reading
1.Costas LAPAVITSAS ve Makoto ITOH - Para ve Finansın Ekonomi Politiği, Yordam Kitap.
2.Giovanni ARRIGHI - Uzun Yirminci Yüzyıl: Para, Güç ve Çağımızın Kökenleri, İmge Kitabevi.
3.Nail SATLIGAN ve Sungur SAVRAN (Der.) - Dünya Kapitalizminin Krizi, Belge Yayınları.
4.Fuat ERCAN - Para ve Kapitalizm, Devin Yayıncılık.
Weekly Detailed Course Contents
Week 1 - Theoretical
Finances original location in capitalism
Week 2 - Theoretical
Systemic Accumulation Chambers: The formation of financial mechanisms in Northern Italy City States
Week 3 - Theoretical
Systemic Accumulation Chambers: Development of financial mechanisms in Netherlands and UK
Week 4 - Theoretical
Financial markets and institutions
Week 5 - Theoretical
Financial confiscation: The role of finance in relations of exploitation
Week 6 - Theoretical
Financial assets pricing models from the perspective of labor-value theory
Week 7 - Theoretical
Neoclassical theory of finance
Week 8 - Theoretical
Marxist Critique of neoclassical theory of finance
Week 9 - Intermediate Exam
Midterm Examination
Week 10 - Theoretical
Marxist Critique of neoclassical theory of finance
Week 11 - Theoretical
Financial mechanisms and dynamics of the crisis
Week 12 - Theoretical
Political economy of derivative products
Week 13 - Theoretical
Financialisation
Week 14 - Theoretical
Finance and the theory of the firm
Week 15 - Theoretical
Political economy of financial risk
Week 16 - Final Exam
Final Examination
Assessment Methods and Criteria
Type of AssessmentCountPercent
Midterm Examination1%30
Final Examination1%70
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory140342
Individual Work140228
Midterm Examination123225
Final Examination128230
TOTAL WORKLOAD (hours)125
Contribution of Learning Outcomes to Programme Outcomes
PÇ-1
PÇ-2
PÇ-3
PÇ-4
PÇ-5
PÇ-6
PÇ-7
PÇ-8
PÇ-9
PÇ-10
PÇ-11
PÇ-12
PÇ-13
PÇ-14
PÇ-15
OÇ-1
3
4
3
4
3
2
2
3
OÇ-2
4
3
2
3
2
4
3
4
OÇ-3
2
2
2
2
2
2
2
2
OÇ-4
3
4
3
4
3
4
3
4
OÇ-5
2
3
2
3
2
3
2
3
Adnan Menderes University - Information Package / Course Catalogue
2026