Course Information Undergraduate prospectus

History of Economic Thought

Course summary

Course code: ECON1138
Level: 5
Credits: 15
School: Business Faculty
Department: International Bus and Economics
Course Coordinator(s): Giovanni Cozzi / Tomas Nielsen Rotta

Specification

Aims

This course offers a critical historical and methodological introduction to the study of economics. The aim of this course is to equip students with tools to exercise their own judgment as economists. In particular, the discussion of the nature and scope of economics, with examples from history, is important in order to give students a sense of the economic discipline, its historical and methodological evolution, and to adequately address current economic issues. This course provides students with an understanding of the development of economics as a social science. It analyses various economic questions from a pluralistic perspective, i.e. it will consider different approaches to key economic issues.

Learning outcomes

On successful completion of this course a student will be able to:

1 Explain the historical and methodological development of economics from the 19th century to present day
2 Interpret and synthetize the contributions made by major authors in the history of economic thought
3 Explain the origins of some of the key concepts in contemporary economics
4 Evaluate key mainstream (neoclassical) and heterodox (non-neoclassical) economic theories and policies
5 Analyse contemporary economic questions from a pluralistic perspective
6 Master critical thinking and exercise judgment in economics by criticising and defending intellectual positions

Indicative content

This course is divided in two major parts. Part 1 covers the history of different schools of thought in economics and some methodological issues. Part 2 focuses on some contemporary economic issues. In this part of the course history of economic thought and methodology is used in order to adequately discuss current economic issues and to develop judgment in economics.

Teaching and learning activity

LECTURES tend to focus on developing specific topics by going through slides in some detail. SEMINARS will give students an opportunity to build upon knowledge already gained in the lectures and to critically reflect on specific questions. Students will be engaged in a number of different activities to facilitate active learning. These activities mainly rotate around group discussion, role play, problem solving and other techniques which facilitate a student-centred approach to teaching.

Assessment

Response paper - 45% weighting, 40% pass mark.
Learning outcomes 1, 2 & 3.
Outline Details - A series of questions related the historical and methodological development of economics. 1500 words.

Essay - 55% weighting, 40% pass mark.
Learning outcomes 4, 5 & 6.
Outline Details - Essay questions on contemporary economic issues to be analysed from a pluralistic and historical perspective. 2000 words.

Students are not required to pass all summative assessments in order to pass the course.

Formative Assessment: In-class activities. Students will be engaged in a number of different in-class activities to facilitate active learning. These activities mainly rotate around group discussion, role play, problem solving and other techniques which facilitate a student-centred approach to teaching.