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Course Description

Course: Marxist Political Economy I

Code: PEC 411

Tutor: A. Maniatis

 Fall Semester

  The main purpose of this course is to introduce students to the analysis of Marx in “Capital”, especially in Volume I. It starts with a discussion of the development of Marx’s economic thought, his methodology and the object of “Capital”. Then the theory of value and money as contained in the first three chapters of “Capital” is presented. The discussion of the theory of surplus value and the concepts of value of labor power and exploitation follows as well as the discussion about the nature of technical change in capitalism. Finally, the theory of accumulation of capital, the reserve army of labor and the general law of the capitalist accumulation are introduced and their relevance for the economic conditions of the current capitalist world is discussed.


-P. Sweezy, Theory of Capitalist Development, Gutenberg, Athens, 2004. (Π. Σουήζυ, Η Θεωρία της Καπιταλιστικής Ανάπτυξης, Gutenberg, Αθήνα, 2004).

-Notes on Marxist Political Economy (Σημειώσεις Μαρξιστικής Πολιτικής Οικονομίας του διδάσκοντος).

Other sources:

-J. Gouverneur, Ανακαλύπτοντας την οικονομία: ορατά φαινόμενα και κρυμμένες πραγματικότητες, Τυπωθήτω, Αθήνα, 1999.

 -G. Catephores, An Introduction to Marxist Economics, New York University Press, New York, 1989.

-D. Foley, Understanding Capital, Harvard University Press, Cambridge, Mass, 1986