This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.
Undergraduate Handbook 2016-2017 (archived)
Module ECON3051: HISTORY OF ECONOMIC THOUGHT
Department: Business School (Economics and Finance)
ECON3051: HISTORY OF ECONOMIC THOUGHT
| Type | Level | Credits | Availability | Module Cap | Location |
|---|---|---|---|---|---|
| Open | 3 | 20 | Available in 2016/2017 | Durham |
Pre-requisites
- Economic Principles I: Macroeconomics (ECON2011) AND Economic Principles II: Microeconomics (ECON2021).
Corequisites
- None.
Excluded Combinations
- 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
Subject-specific Knowledge
- understanding the historical development of analytical techniques in economics
Subject-specific Skills
- using the history of ideas as an essential part of economic reasoning
Key Skills
- 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 and tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of one piece of written work. Summative assessment is by means of a written examination and a written assignment.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total Hours | Attendance Monitored |
|---|---|---|---|---|---|
| Lectures | 22 | 1 per week | 1 hour | 22 | |
| Tutorials | 8 | Fortnightly | 1 hour | 8 | Yes |
| Preparation and Reading | 170 | ||||
| Total | 200 |
Summative Assessment
| Component | Component Weighting | Element | Length/Duration | Element Weighting | Resit Opportunity |
|---|---|---|---|---|---|
| Examination | 60% | One written examination | 1 hour 30 minutes | 100% | |
| Assignment | 40% | One written assignment | 2500 words max | 100% |
Formative Assessment
One piece of written work of not more than 1500 words.
Students who do not attend monitored activities shown under Teaching Methods
and Learning Hours, or who fail to complete the summative or formative
assessment(s) specified above, may be subject to the Academic Progress
procedures defined in the University's General Regulation V, and may be
required to leave the University.