Core
5
6 ECTS
Autumn
None
EC 455
Goran Ridjic
2017
The Mercantilist School
The Physiocratic School
The Classical School: Forerunners, Adam Smith, Thomas Robert Malthus, David Ricardo, Bentham, Say, Senior, and Mill
The Rise of Socialist Thought
Marxian Socialism
German Historical School
The Marginalist School: Forerunners, Jevons, Menger, von Wieser, von Böhm-Bawerk, Edgeworth and Clark
The Neoclassical School: Alfred Marshall
Monetary Economics
The Departure from Pure Competition
Mathematical Economics
The Institutionalist School
Welfare Economics
The Keynesian School: John Maynard Keynes, Developments since Keynes
Theories of Economic Growth and Development
The Chicago School: The New Classicism
| Type | Number per Term | Duration | Total Time |
|---|---|---|---|
|
Lectures |
15 | 1.5 | 22.5 |
|
Tutorials |
5 | 1.5 |
22.5 |
|
Total |
|||
| Total Guided/Independent Learning Hours | 105 | ||
| Total Contact Hours | 45 | ||
| Total Engagement Hours | 150 | ||
| Type | Number Required | Duration / Length | Weighting | Timing / Submission Deadline |
|---|---|---|---|---|
|
Exam |
1 |
3 hours |
50% |
Week 17 |
|
Mid-term Exam |
1 |
2 hours |
20% |
Week 8 |
|
Individual project assignment: Essay |
1 |
2000 words |
20% |
Week 14 |
|
Group project assignment: Debate |
1 |
30 minutes debate per topic |
10% |
Week 12 |
Intended Learning Outcomes:
Analyse the evolution of economic thinking over time and its relationship to historic context
Explain and critically analyze the development of economics as a discipline in various ancient cultures;
Describe the development of European economic thought, and analyze concepts in historical context;
Analyze and discuss classical economic theories; and synthesize the elements of neoclassical and Keynesian approaches in the modern era.
Demonstrate ability to used pre-defined methods to critically analyze importance, reliability and validity of results.
Teaching and Learning Strategy:
Lectures: Ideas and theories from the field of History of Economic Thought will be explained using the primary literature as well as considering secondary literature. (ILO: 1-3)
Tutorials will emphasise practical critical analyses and discussion of economic theories and their results. (ILO: 1-5)
Individual project assignment will ensure in-depth understanding and critical analyses of information related to History of Economic Thought. (ILO: 1-5)
Group project assignment (Debate) is designed to encourage students to integrate theoretical concepts with practical skills. The debate will include groups of students with opposite views, the group and individual who demonstrate the best arguments will be awarded the highest grade. (ILO: 5)
Assessment Strategy:
Midterm exam (and Final exam (ILO: 1-5)
Course projects (ILO:1-5)
Continuous assessment (ILO: 1-5)
Practical Skills:
Prepare written reports on important topics from the field of History of Economic Thought.
To be able to evaluate the development of economic thought from a historical perspective and understand contribution of economic thought of one historical period to the development of economic thought in a subsequent period.
Ability to comprehend the way in which economic theory developed, as a consequence of the evolution of economic thought.
Teaching and Learning Strategy:
Tutorials (PS: 1-3)
Individual project assignment (PS: 1)
Use of quizzes to test student subject knowledge (PS: 1-3)
Assessment Strategy:
Written Exam (PS: 2-3)
Individual project (PS: 1)
Transferable Skills:
Communication Skill: written and oral
Critical Thinking
Problem Solving
Research Skills
Meet deadlines
Ability to work independently
Ability to work in the group
Teaching and Learning Strategy:
Tutorials (TS: 1-3)
Individual and group projects (TS: 1-7)
Assessment Strategy:
Project assignments (TS: 1-7)
Written examination (TS: 1-4)
Set text
Brue, S., Grant, R., (2013), The Evolution of Economic Thought, 8th Edition, Cengage
Supplementary Materials
Sandmo, A., (2011), Economics Evolving: A History of Economic Thought, Princeton University Press
Bain, K., Howells, P., (2009), Monetary Economics: Policy and its Theoretical Basis, 2 Edition, Palgrave Macmillan
Takayama, A., (2010), Mathematical Economics, Cambridge University Press
Barr, N., (2012), Economics of the Welfare State, 5 Edition, Oxford University Press, USA
Johansson, P., (2008), An Introduction to Modern Welfare Economics, 2 Edition, Cambridge University Press
Goldin, I., (2016), The Pursuit of Development: Economic Growth, Social Change and Ideas, Oxford University Press
Hein, E., Stockhammer, E., (Eds), (2012), A Modern Guide to Keynesian Macroeconomics and Economic Policies, Edward Elgar
Hunt, E., Lautzenheiser, M., (2011), History of Economic Thought: A Critical Perspective, 3 Edition, Routledge
Please note
This specification provides a concise summary of the main features of the module and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if he/she takes full advantage of the learning opportunities that are provided.
More detailed information on the learning outcomes, content and teaching, learning and assessment methods of each module and programme can be found in the departmental or programme handbook.
The accuracy of the information contained in this document is reviewed annually by the University of Buckingham and may be checked by the Quality Assurance Agency.
Date of Production : April 2017
Date approved by School Learning and Teaching Committee:
Date approved by School Board of Study :
Date approved by University Learning and Teaching Committee:
Date of Annual Review:
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