Module ECON3051: HISTORY OF ECONOMIC THOUGHT

Department: ECONOMICS FINANCE AND BUSINESS (ECONOMICS AND FINANCE)

ECON3051: HISTORY OF ECONOMIC THOUGHT

Prerequisites

• Economic Principles I: Macroeconomics (ECON2011) AND Economic Principles II: Microeconomics (ECON2021).

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• To develop knowledge of the schools of thought in the history of economics since Classical Economics, and to examine the methodological criteria by which analytical or scientific advances in the discipline may be determined. The module also provides students with the opportunity to participate in student-centred learning drawing on recent research. This module builds on the knowledge and understanding gained in Level 2 core modules.

Content

• The module focuses on Classical economics, covering the literature from Smith to Cairnes and including such topics as value, distribution, money, trade, economic growth and public finance as well as economic policy issues.
• After this the module turns to the writing of particular individual economists: Marx, Jevons, Menger, Wakas, Wieser, Bohm-Bawerk, Keynes .
• The module concludes with a discussion of theories of the history of science and their applications to economics.

Learning Outcomes

• understanding the historical development of analytical techniques in economics

• using the history of ideas as an essential part of economic reasoning

• Reasoning abilities
• Skills in assessing alternative ideas, and the criteria used in accepting or rejecting economic arguments, theories or theoretical systems
• Mathematical skills will be enhanced by examination of the gradual refinement of mathematical techniques in economics.
• Students' skills in writing and presenting their economic knowledge

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by lectures, tutorials and support for student-centred learning. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes and private study (inlcuding student-centred learning). Formative assessment is by means of one piece of written work of 1500 words. Summative assessment is by means of an unseen written examination of one and a half hours duration and one essay/project of 2500 words.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

One piece of written work of not more than 1500 words.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University