History of Economic Thought

Course Description: 

This course is accessible to anyone with an under-graduate background in social sciences or economics; this course presents review of the history of economic thinking and economic analysis; course covers the following topics: Introduction, Great Religions and the Origins of Economic Thought; Greek and Medieval Thought ; Transformation Period; Western Europe before Smith; Smith,  Ricardo, Marx; Emergence of Macro-economics, Veblen, Keynes, Schumpeter; Friedman, Hayek; Non-Mainstream Thought

Learning Outcomes: 

The main goal of this course is to provide students with understanding of historical evolution of economic thought.  In other words, this course tries to explain how economic thinking got to be where it is today.  In addition students are also led to formulate their own research question in the topic of their interest.

We will discuss to a certain extent economic history, since understanding what was going on in the economy in past helps to understand how people conceptualized the economy.

The syllabus covers wide ranging areas. In this course students are able to understand some historically important articles and concepts of the political economy and economics. They acquire a broad understanding of the evolution of economic thinking in the period of more than two thousand years.  The emphasis is on societal milieu however issues relevant to policy are also considered.

By the end of this course student will be able to evaluate different streams of economic thinking as well some personalities who had an impact of history of economic thought.

Assessment: 

- 15% of the final grade; presence in the course  

- 20% of the final grade: a position paper on the article chosen by the instructor; not more than 1 page; position paper analyzes the article, evaluates the most important issue(s) in the article

- 65% of the final grade; final paper, maximum 6 pages; 1.5 space, topic approved by the instructor

Prerequisites: 

Master level class; no special pre-requisites are required

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