History of Economic Thought (ECON 400)

2021 Spring
Faculty of Arts and Social Sciences
Economics(ECON)
3
6.00 / 6.00 ECTS (for students admitted in the 2013-14 Academic Year or following years)
Bahri Yılmaz bahri@sabanciuniv.edu,
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English
Undergraduate
ECON202 ECON204
Formal lecture,Interactive lecture
Interactive,Communicative,Discussion based learning,Project based learning
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CONTENT

Introduction and early beginnings: ancient and medieval economic thought; mercantilism and the dawn of capitalism; the classical period, Adam Smith, David Ricardo; reactions and alternatives to classical theory, Karl Marx and scientific socialism; neo-classical school Keynesian and post-Keynesian theories; monetarist theories.

OBJECTIVE

Refer to the course content.

LEARNING OUTCOME

By the end of this course, a student should be able to:
(1) Describe the evolution of main stream economic analysis from the time of the ancient Greeks to the present day in the framework of European economic history.
(2) Identify how the thought process of the great minds in economics provides valuable insights and lessons for today?s economists.
(3) Identify how ideas are related to the times in which they emerge. What role does the environment play in development of economic theory.
(4) Examine how knowledge grows, both in factual content and in the theories used to organise and understand the acts.
(5) Describe large themes over a relatively long span of European history.
(6) Deploy historical argument, based on professional standards of evidence use. Ability to judge between the views of different historians on the topic.
(7) Analyze the present economic political issue which the EU is facing with the help of European economic history and European history of economic thought.
(8) Develop independent study and group work skills.
(9) Formulate and discuss core theoretical ideas and their application to various economic issues.
(10) Comprehend issues relating to European integration

ASSESSMENT METHODS and CRITERIA

  Percentage (%)
Final 50
Midterm 30
Assignment 20

RECOMENDED or REQUIRED READINGS

Readings

"A History of Economic Theory and Method", Robert B. Ekuland & Robert F. Hebert, Mc Graw-Hill International Editions, New York 1997.
" A History of Economic Thought", Eric Roll, faber and faber, Great Britain, 1983.
"A History of Economic Thought", Lionel Robbins, (The LSE Lectures), Princeton University Press, 1998.
"Economic History of Europe", Shepard B.Clough and Charles W. Cole, D.C. Heath and Company Boston, 1952