History of Economic Thought

School of Business and Economics

History of Economic Thought

Full course description

The course History of Economic Thought gives the student a broad overview of the history of economics as a science. We will visit the major schools of economic thought and many of the greatest economic thinkers in history. We will study their contributions, taking into account the proper historical context. The course will emphasize not only the strengths of the theories, but also their deficiencies and the various ways in which other economists have dealt with these deficiencies.

Course objectives

The course has various objectives. First of all, it enables the student to understand the history of their field of study, economics. Second, it gives the student another chance to learn about economics, to see how economic theories have been developing and how they are improved upon (and sometimes are not). Third, it shows the student how theories fit into the proper historical and economic context. Economics is a social science and therefore adapts to the current issues and needs within society. Fourth, the course gives the student the opportunity to learn from the greatest thinkers of economic science. How did they see the world and how did they analyze the economic problems they were faced with? Finally, the course improves critical thinking by setting past and current economic theories in their proper perspective.

Prerequisites

Knowledge and understanding of first year and second year microeconomics and macroeconomics (intermediate level).

History of Economic Thought