| Course information | |
|---|---|
| Period | Block 2 |
| Timeline | March |
| Number of ECTS | 5 ECTS |
| Coordinator | Dr Anitra Baliga |
| Methodology | Lectures, tutorials, Q&A Sessions, reading groups, self-study |
Course description
As urban landscapes continue to evolve, speculation and financial logics, increasingly shape the conception, development, and transformation of cities. This course will explore the diverse ways in which speculative practices and financialization processes influence urban life-- from financial institutions betting on rising asset values to city governments issuing municipal bonds for development projects, and risk analysts forecasting needs for mitigating urban (climate) disasters.
We will critically examine the expanding array of actors involved in urban speculation and financialization, interrogating their operational methods and the implications of their influence on the future of our cities. In particular, students will analyze how calculative models, innovative debt-structures, and promissory futures are utilized to create scenarios that reflect cultural, social, and economic dynamics within urban environments.
Key questions will include: What does it mean for cities when speculative imaginaries and financialization processes underpin urban planning and development? How does this impact the sustainability of urban futures? And what is at stake when speculations do not unfold as anticipated; or when financialization goes unchecked?
Learning objectives
By the end of the course, students will be able to:
- Develop a critical understanding of the economic, social, and political dimensions of urban speculation.
- Gain insights into the financialization of urban life and its impact on policies and planning.
- Evaluate the effectiveness of predictive models and risk management strategies in urban development.
- Propose innovative, future-proof ideas to address the contradictions and risks inherent in urban speculation and financialization
Course content and structure
The course consists of 16 sessions including six lecture sessions, six reading group sessions, two tutorial sessions (to work on group assignment), and one plenary session.
The six lecture sessions will broadly cover the following topics:
- Theoretical Frameworks of Urban Financialization
Focus: Defining core concepts (speculation, financialization, rentier capitalism) - Cities as Sites of Financial Speculation
Focus: Transnational investment flows and city-making - Infrastructure Financialization: PPPs, Debt, and Urban Futures
Focus: Blurring public/private boundaries - Assembling Development Frontiers
Focus: Making of the neo-liberal state and other agents of speculation - Financial Technology and Algorithmic Urbanism
Focus: Digital tools of valuation and risk assessment - Emancipatory Futures: Resistance, Regulation, and Alternatives
Focus: Strategies for keeping financialization in check