Sociology of Markets - SOC 40560
2010-11 – Semester 2
Credits
Level
10
Masters
Subject
School
Module Coordinator
Sociology
Sociology
Dr Basak Kus
The world is currently facing what seems to be one of the most severe economic crises since the great
depression. Questions regarding how markets work, why they fail, what the legitimate limits of
government intervention in their operation should be are abound. One might argue that never before
has a systematic study and understanding of the market as a sociological phenomenon been more
important than today.
This module will introduce students to Sociology of Markets as a field of study. The module will
involve three components:
1. Building a sociological view of markets: In the first part of the course, we will discuss the rise
and evolution of the market as an economic system. We will learn about the different ways in
which sociologists think about markets—as institutions, as fields of power, as networks, and
as cultural schemas. We will ask where markets come from, what kinds of variables shape
their organization, and what kinds of social institutions are necessary for markets to exist.
2. State-market relations in a comparative perspective: In the second part of the course we will
explore the cross-national variation in state-market relations—the “national models” of
capitalism, so to speak, which have emerged since World War II, considering the historical,
institutional and ideological factors underlying such variations.
3. Globalizing markets: The last part of the course will focus on the important changes in
models of political economy in the late 20th century. We will explore how the global rise of
neoliberal ideas and the process of international economic integration have reshaped the statemarket relations across the world.
What will I learn?
On completion of this course students will have gained a sociological view of markets, and learned
about various political, social and cultural factors that shape their organization. Students will also
have learned about the differences in the way state-market relations operate in different nations, and
how the process of global integration and the rise of neoliberal ideas over the past few decades have
transformed the nature of this relation.
How will I learn?
Seminar
24
Autonomous Student Learning
176
Total Workload
200
How will I be assessed?
Class preparation (descriptions and analyses of course readings): 50%
Essay (4000 words, due at the end of semester): 50%