Ballots, Borders, and Billionaires: Populism and Political Economy in Eastern Europe

Nationalism and populism have reshaped the political economy of Eastern Europe and the Balkans, challenging the European Union (EU), global markets, and democratic institutions. While nationalist leaders advocate economic sovereignty, they often rely on foreign investment, trade, and geopolitical alliances to sustain power. This course examines the economic contradictions of populist governance, exploring how nationalist governments navigate EU funding, Russian energy dependence, and Chinese infrastructure investments while resisting external influence. Moving beyond traditional theoretical discussions, this course offers a data-driven and hands-on approach to understanding economic nationalism. Students engage in empirical research using economic and survey data, critically analyze trade policies, investment flows, and nationalist economic strategies, and participate in real-world policy simulations that place them in the roles of Balkan policymakers, EU officials, foreign investors, and populist strategists. Throughout the semester, students also interact with leading experts from international institutions, think tanks, and regional policymakers, gaining firsthand insights into the competing economic and political interests at play. In addition to case studies on Hungary, Poland, Serbia, and Bosnia and Herzegovina, students explore how nationalist governments balance economic nationalism with global economic dependencies—leveraging EU funds while rejecting its influence, courting Russian energy investments, and navigating China's infrastructure projects through the Belt and Road Initiative. By analyzing the economic contradictions within nationalist governance, students develop policy-relevant skills in economic risk assessment, political strategy, and geopolitical forecasting. Designed for students interested in international affairs, policy consulting, and economic development, this course offers a critical, applied understanding of how nationalist movements leverage—and contradict—global economic forces in pursuit of power.