The history of economic thought and its role

1. The history of economic thought and its role [T]he ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. John Maynard Keynes

2. Why study Economic Thought & Methodology? This course examines the history of economic ideas.  It is not a history of what actually happened in the past but rather a history of theories about how the economy works. Nonetheless, we will pay a little attention to economic history, since understanding what was going on in the economy in past times and places helps us to understand how people conceptualized the economy. 

3. Materials LITERATURE: H. Landreth, D. C. . Colander, History of Economic Thought, 4 th. ed. Houghton Mifflin Company, 2002. D. P. Brien, The Classical Economists Revisited, Oxford Univ. Press, 2004. WEB RESOURCES: New School: http://homepage.newschool.edu/het// Rod Hav’s database at MCMaster University: http://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/index.html Akama Michio’s database at Ehime University: http://www.cpm.ll.ehime-u.ac.jp/AkamacHomePage/Akamac_E-text_Links/Akamac_E-text_Links.html

4. CRITERIA AND FORM OF RECEIVING A CREDIT FOR CLASSES The grade will be based on a writing assignment. The exam will consinst of 5 questions. 10 points for each question (max sum of points = 50). Points and marks: 30-33 3.0 34-373.5 38-41 4.0 42-454.5 46-50 5.0

5. HISTORY OF ECONOMIC THOUGHT