Le Grand Syllabus 2016/2017
Teachers : Olivier GODECHOT (Chargé de recherche - CNRS). Pedagogical format : Seminar Course validation : Validation will be based on several elements : a 3,000 words essay (50%), a twenty minutes oral presentation of a scientiﬁc paper (20%), a one page report of a scientiﬁc article and two written questions raised while reading a scientiﬁc article (10%), assiduity and class participation (20%). Workload : Students will have to read at least one paper each week and prepare an oral presentation (in English), a one page report of a scientiﬁc article (in English or in French) and two written questions raised while reading a scientiﬁc article (in English). They will also write an essay (in English or in French) of approximately 2,000 to 3,000 words where they will analyze sociologically some material related to ﬁnance and put to the test some sociological approach studied during the class. This material can be books written by ﬁnance people or journalists, interviews, press coverage methodically collected, videos, statistics, etc. Pedagogical method : Each lesson will be divided in two parts. During the ﬁrst 75 minutes, the professor will do a lecture. During the last 45 minutes, one or two students will do an oral presentation of a paper that will be followed by an interactive discussion with the students and the professor. Course Description : Financial markets have become a central institution of market societies but remain obscure. Courses on ﬁnance and ﬁnancial markets are generally devoted to technical dimensions such as option pricing, asset allocation or valuation of assets. The ambition of the Sociology of Financial Markets class is to con-
sider ﬁnancial markets also as a human institution, with its history, its hierarchies, its various forms of rationality, its set of norms and beliefs, its social networks, its cognitive categories or its labor market. Analyzing the concrete day to day functioning of the ﬁnancial markets is crucial not only for understanding this speciﬁc institution but also for understanding the logics that are diffusing beyond. Hence, ﬁnancial markets are at the forefront of new forms of capitalism and constitute therefore an excellent observatory of their development. The course will build bridges between concrete examples of ﬁnancial markets, recent advances in the emerging ﬁeld of sociology of ﬁnancial markets and classical studies in economic sociology. The course will be of great value for all students interested or attracted by ﬁnancial markets, either as a possible option for a professional career, as a matter of political concern, or as an exciting topic of scientiﬁc study. Required reading : BAKER Wayne, 1984, “The Social Structure of a National Securities Market”, American Journal of Sociology, vol. 89, n°4, p. 775-811 ; ZUCKERMAN Ezra, 1999, “The categorical imperative : Securities analysts and the illegitimacy discount”, American Journal of Sociology, 104 (5), 1398-1438 ; MACKENZIE Donald, 2006, « Is economics performative ? Option theory and the construction of derivatives markets », Journal of the History of Economic Thought, 28 (1), 29-55 ; DOBBIN Frank, JUNG Jiwook, 2012, “Finance and Institutional Investors”, in : KNORR CETINA Karin, PREDA Alex, Sociology of ﬁnancial markets, p. 52-74 ; GODECHOT Olivier, 2013, “Financialization and socio-spatial divides”, L'année sociologique, English Edition.