This course surveys some major debates in comparative political economy, focusing especially on the creation, evolution, and reform of market institutions. The course emphasizes the ways in which the market is embedded in social and political institutions. Main topics include: 1) Theoretical foundations of political economy, 2) Patterns of industrialization, 3) Capitalist institutions in contemporary industrialized countries, 4) Challenges of development, 5) Transitions from communism to a market economy, and current challenges facing capitalism.