- DepartmentEuropean Institute
- Application codeSS-MG203
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Business needs government to harness local comparative advantages and national competitiveness; and governments need business to create wealth, jobs, and economic prosperity.
This course examines, under this prism, novel industrial policy initiatives in Europe and beyond, in response to the green and digital transitions and the supply chain disruptions since the Covid lockdowns.
Following a long period of deregulation and market liberalisation, the recent crises (COVID, supply chain disruptions) and continuing global challenges (automation, climate, energy transition) have led to the realisation that markets and businesses need to the assistance of the state to meet their social and economic goals. In this course, we examine analytically and empirically the industrial and related policies to achieve these aims in the European context.
Combining an accessible treatment of theory with an applied focus, the course offers an excellent introduction to some of the key policy questions on the management of economic growth today. We will discuss the main frameworks for industrial policy, compare and evaluate recent strategies in the EU and other advanced capitalist democracies, and the articulation of industrial policies with other policy areas.
Lectures, seminars and other exercises, will allow students to explore real-world cases of industrial policy, both at the macro (national industrial strategies) and at the micro levels (specific sectoral interventions). We will analyse and compare the national industrial strategies of France (2), Germany (2) and the UK (2); and work on case studies such as the Franco-German car battery initiative and the UK Cell and Gene Therapy Catapult. Attention will also be directed to the EU ‘Strategic Autonomy’ policy discussions and the EU’s strategy for the ‘twin’ transitions, from its inception to its current state of the art.
Prerequisites: A university-level introductory course in a social science subject such as economics, business, management, European studies, political science, or international relations.
Level: 200 level. Read more information on levels in our FAQs
Fees: Please see Fees and payments
Lectures: 36 hours
Classes: 18 hours
Assessment: A 1,500-word essay (25%) and final exam (75%).
Typical credit: 3-4 credits (US) 7.5 ECTS points (EU)
Please note: Assessment is optional but may be required for credit by your home institution. Your home institution will be able to advise how you can meet their credit requirements. For more information on exams and credit, read Teaching and assessment
Is this course right for you?
This course is ideal for students who wish to gain an in-depth understanding of the scope and design of investment and industrial policies; as well as practical knowledge of the challenges associated with the goal of directing growth toward the green and digital transitions.
The course will also be relevant for students who are considering further education in this field at the LSE, such as the MSc Political Economy of Europe and the MSc European and International Public Policy.
- Concrete knowledge and understanding of the relation between state and market, the failures that necessitate market correction and regulation by governments, and the problems with those policies
- An understanding of the systemic variation in the economies of different European countries and their governance models
- All-round knowledge of the range of EU policies to enhance economic performance (allocation, development, and convergence policies) and to direct growth towards the green and digital transitions (investment, innovation and growth strategies)
- In-depth and critical understanding of different approaches to industrial policy; and specific knowledge of examples of modern industrial policies especially in the green and digital sectors.
The design of this course is guided by LSE faculty, as well as industry experts, who will share their experience and in-depth knowledge with you throughout the course.
Professor Vassilis Monastiriotis
Eleftherios Venizelos Chair of Contemporary Greek Studies - Professor in Political Economy
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