The ramifications of the global political economy extend far beyond national governments, multinational businesses and banks. The policies and practices that play out on the international stage affect every one of us – from the availability of fuel and food to our quality of life, earning and savings potential.
On the King’s Global Political Economy MA, you’ll explore how international organisations, states, regions, sectors, societies and individuals are affected by and shape political and economic transformation. But first, let us introduce you to this fascinating subject.
What is the Global Political Economy?
The Global Political Economy (GPE) encompasses the interaction of political and economic actors, factors, and processes across all levels, from local households to global markets. This includes states, corporations, international organisations like the IMF and World Bank, and transnational social movements such as the global climate movement. GPE addresses the opportunities and challenges of globalisation, shaped by historical legacies, geopolitical rivalries, and technological innovations.
Through an interdisciplinary lens drawing from international relations, political economy, sociology, and more, the study of GPE offers insights into pressing global issues like poverty, inequality, economic crises, and environmental sustainability.
Why do people study the political economy?
As far back as the early writings of Aristotle in Ancient Greece and Kautilya in India in the 4th century BCE, scholars have studied the relationship between economic activities and state interests. The term ‘political economy’ itself is believed to have been coined by the French economist Antoine de Montchrestien in 1613. In 1615, he published Traicté de l'économie politique (Treaty on Political Economy).
Many individuals we typically regard as economists today identified themselves as political economists. This is the case for instance for both Adam Smith and David Ricardo, with the latter’s major work titled Principles of Political Economy and Taxation.
Historically, those who govern have always presented themselves as protecting their citizens, property and ‘state’ wealth. Since the methods and tactics used to influence trade, commerce, politics, and international relations have a direct bearing on society and people’s way of life, the GPE has always been of interest and a highly relevant subject to study.
How do politics, economics and international relations affect each other?
The challenges facing political economic decisions have changed considerably over the centuries. It’s unlikely leaders of today will focus on fair weights and measures as they did in the Middle Ages or face the criticism of the enslavement of indigenous people and expropriation of resources that came during the Age of Imperialism. However, the forces affecting and affected by the GPE – from technological competition to environmental dangers and economic shifts – are more complex than ever before.
Governments no longer operate in isolation and their economic policies often impact other nation states. As a result, decision making can involve consultation and collaboration with intergovernmental and international organisations like the United Nations (UN), the World Trade Organization (WTO), the World Bank and the International Monetary Fund (IMF).
Society too has a powerful role play. Individuals as voters and consumers, and public interest groups can put pressure on governments and organisations. Nowhere has this been evidenced so strongly than in the 2016 ‘Brexit’ referendum, which subsequently led to Britain leaving the European Union in 2020.
What can I do with a Global Political Economy MA?
The Global Political Economy MA at King’s will develop your global perspective and equip you with an in-depth understanding of the interests, institutions, and ideas that shape the global political economy. This prepares you to work in international development, finance, policy making, advocacy, activism, media, or research across the public, private, and not-for-profit sectors.
You’ll also develop a range of key skills: problem solving, critical thinking, analysis, communication and presentation. Useful in almost any career, these skills are particularly valued in fields such as finance, consultancy, law and the civil service. You could, for example, become a political consultant, financial analyst or specialise in public affairs.
Graduates of the on-campus International Political Economy MA at King’s have secured positions in:
- Various UK government departments (including the Foreign Office, Department for International Development, Department for International Trade and the Treasury)
- Global governance bodies such as the World Bank, United Nations, World Federation of Exchanges, European Bank for Reconstruction and Development, African Development Bank, and International Telecommunication Union
- Major business media organisations like Argus and Bloomberg
- Major financial institutions including Citi, Morgan Stanley, Credit Suisse, and HSBC
- Research and consultancy firms such as McKinsey & Co, Ipsos, and the Boston Consulting Group
- Lobbying groups within the European Union and beyond.
Gain an understanding of global issues from a variety of perspectives and prepare for careers in the public, private and third sector with the King’s online Global Political Economy MA. Study part-time and over two years:
