Module ECON1081: Introduction to the History of Economic Thought

Department: Economics

ECON1081: Introduction to the History of Economic Thought

Tied To

• CFC0: Natural Sciences (Psychology pathway)
• CFG0: Natural Sciences
• FGC0: Natural Sciences
• L130: Economics
• L133: Economics with Management
• L134: Economics with Management with Placement Year
• L135: Economics with Management with Study Abroad
• L136: (programme not found)
• L139: (programme not found)
• LA01: Liberal Arts
• LA02: Liberal Arts (with Year Abroad)
• LL01: Economics and Politics with Study Abroad
• LL02: Economics and Politics with Placement Year
• LL12: Economics and Politics
• LMV0: Combined Honours in Social Sciences

Pre-requisites

Corequisites

Excluded Combinations

Aims

• Provide students with knowledge and understanding of the development of economic ideas.
• Provide students with an understanding of how ideas influence events and how events influence ideas.
• Inform students of the historical evolution of key concepts relevant to understanding modern economics.
• Offer the opportunity to develop key skills.

Content

• Topics are likely to include:
• Early economic thought.
• Adam Smith
• The Demographic Pessimism of Robert T. Malthus
• Ricardo
• The Marxian Critique of Capitalism
• John Stuart Mill: Equity and Efficiency
• The 1870s Marginalist Revolution
• Alfred Marshall and the Birth of Neoclassical Economics
• The Great Socialist Debate: Mises and Hayek v Lange
• Schumpeter and Entrepreneurship
• The Keynesian Revolution
• Neoclassical synthesis
• Monetarism

Learning Outcomes

• Understanding of the key contributors and contributions to the development of economic thought.
• Knowledge and understanding of key economic ideas.

• Ability to understand changes in the basis of economic thought.
• Ability to analyse the strengths and weaknesses of the major influential contributions to the development of economic analysis.
• Ability to identify, interpret how ideas and events interact.

• Examples are provided to demonstrate how students will have the opportunity to develop the following key skills:
• Written Communication by completing the summative assessment.
• Planning and Organising by preparing for the examination.
• Problem Solving by applying the necessary analytical techniques in preparing assessments.
• Initiative by searching relevant literature and other information in preparation for the examination.
• Computer Literacy accessing and downloading teaching material from Learn Ultra.

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

• Teaching is by lecture and workshops.
• Learning takes place through attendance at lectures, preparation for and participation in workshops, and private study.
• Formative assessment is by means of an assignment to help prepare for the examination. Summative assessment is by means of in-person examination to test students' knowledge and understanding of the subject-matter worth 100% of the module mark.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

One written piece of work to prepare students for the summative exam.