Lecture and Seminar.
- Scarcity, choice and opportunity cost
- Pre-Capitalist Europe
- The Mercantilists
- Francois Quesnay and the Physiocrats
- Adam Smith and the Classicists (Ricardo and Malthus)
The Industrial Revolution
- John Stuart Mill and the Socialists
- Marx's critique of Capitalism
- Marshall and the Neoclassicists (Walras, Menger and Jevons)
The development of Microeconomics
- Veblen and the Evolutionists (Galbraith)
- John Maynard Keynes and 'Guided' Capitalism
- The development of Macroeconomics
- 'Paradise Lost'
- 'Paradise Regained'
To provide students with an understanding of alternative approaches to the study of fundamental economic issues, theory and analysis.
At the end of the course, the student will be able to:
- develop and apply the main tools ('principles' or 'laws') of economic analysis.
- demonstrate an understanding of the interaction between society's ongoing economic, social and political development and the evolution of economic doctrine.
- define and analyse the theoretical and ideological differences between the Classical, Neoclassical, Marxist and Keynesian schools of thought.
|Term Test(s)||30% - 70%|
|Assignments and/or Papers||0% - 35%|
|Final Exam||30% - 40%|
|Participation and/or Quizzes||0% - 10%|
THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.
Textbooks and Materials to be Purchased by Students
The main text is to be chosen from the following, as determined by the instructor:
Canterbery, E. Ray. The Making of Economics, Latest Ed. Belmont, California: Wadsworth Publishing Company.
Hunt, E.K. History of Economic Thought. A Critical Perspective, Latest Ed.
Hunt, E.K. and H.J. Sherman. Economics, Latest Ed. New York: Harper and Row.
Landreth, Harry and David C. Colander. History of Economic Thought, Latest Ed. Toronto: Houghton Mifflin Company.
Oser, Jacob and Stanley L. Brue. The Evolution of Economic Thought, Latest Ed. Toronto: Harcourt Brace Jovanovich.
Supplementary materials may be chosen from the following, as determined by the instructor:
Barber, William J. A History of Economic Thought, Latest Ed. Harmondsworth: Penguin.
Fusfeld, Daniel R. The Age of the Economist, Latest Ed. Glenview Illinois: Scott, Foresman/Little, Brown Higher Education. New York: Harper Coltus.
Heilbroner, Robert L. The Worldly Philosphers, Latest Ed. New York: Simon and Schuster Inc.
Ibsen. Four Great Plays by Ibsen.
Orwell. Animal Farm.