Module Information

Module Identifier
AB33320
Module Title
History of Economic Thought
Academic Year
2022/2023
Co-ordinator
Semester
Semester 2
Pre-Requisite
Reading List
Other Staff

Course Delivery

 

Assessment

Assessment Type Assessment length / details Proportion
Semester Assessment Essay  (2,000 words)  30%
Semester Exam 3 Hours   70%
Supplementary Assessment Essay  (2,000 words)  30%
Supplementary Exam 3 Hours   70%

Learning Outcomes

On successful completion of this module students should be able to:

1. Evaluate the contribution of the major economic schools of thought to economics thinking.

2. Explain and critically evaluate the differences and similarities between alternative schools of thought in economics.

3. Trace the historical origins of some of the main concepts in contemporary economic thought.

4. Demonstrate familiarity and comment critically on several of the key historical texts in the development of economics.

5. Demonstrate an appreciation of pluralism in economic thinking.

Brief description

The study of the origins of modern economics contributes towards an understanding of economic theory in a historical context, gained by following the evolution of economic thought from the classical economists to the 21st century. The module highlights the need for pluralism in economic thinking which became evident from the 2008 crisis. Coverage focuses on the emergence of the major economic schools of thought, developed in a historical context.

Content

Introduction: The importance of studying the history of economic thought

Classical economists

Karl Marx

The Keynesian revolution

Neo-classical economists

New Keynesian Economics

New Political Macroeconomics

Module Skills

Skills Type Skills details
Application of Number Numerical problems and data analysis will be treated in tutorial exercises
Communication Communication skills will be developed in small group discussions during seminars. Written communication skills are also needed for the completing the coursework.
Improving own Learning and Performance Own learning will be improved while preparing for seminars and coursework.
Information Technology Students will need to access economic journals.
Personal Development and Career planning Students will develop a better understanding of the economics discipline and its evolution which will help their career planning.
Problem solving Problem solving will be applied in tutorials and lectures.
Research skills Research and information literacy skills will be required for completing the coursework.
Subject Specific Skills Students will appreciate plurality in economics thinking.
Team work Team working will be encouraged in seminars

Notes

This module is at CQFW Level 6