History of Economic Thought since 1870
Overview
- Lecture
- Friday 12-14 SPA1, 220
- Dr. T. Düppe
- Moodle Link
Description
This course provides a survey of the historical development of what today is taught in micro- and macroeconomics, and what is commonly called "neoclassical economics". We begin by reviewing the paradigm of 19th century political economy and then discuss several controversies that were formative of today's canon of economics. Next to the development of theories and concepts we will give attention to the intellectual, social, and political context in which these theories have developed.
Literature
- Blaug, Mark (1997 [1962]). Economic Theory in Retrospect. Cambridge University Press.
- Ingrao, Bruna and Georgio Israel (1990). The Invisible Hand: Economic Equilibrium in the History of Science. MIT Press.
Organizational matters
- MA: 3 SP, Modul: Economic History
- Diplom: 2 KP, Wahlpflichtfach Wirtschaftsgeschichte
Requirements
Written exam (90min)
Supplementary material
|
Date |
Subject |
|
April 13 |
Introduction and overview: why and how history of economic thought? |
|
April 20 |
The paradigm of 19th century political economy |
|
April 27 |
The marginal revolution: Menger, Jevons, and Walras |
|
May 4 |
The alternatives: German historicism and American institutionalism |
|
May 11 |
Alfred Marshall and the neoclassical orthodoxy |
|
May 18 |
No lecture |
|
May 25: 12-2 pm s.t. |
Welfare economics and the socialist calculation debate |
|
June 1 12-2 pm s.t. |
The Keynesian revolution and the neoclassical synthesis |
|
June 8 12-2 pm s.t. |
The formalist revolution: the axiomatization of general equilibrium theory |
|
June 15 |
Microfoundations and recent developments in macroeconomics |
|
June 22 |
Recent developments in microeconomics: behavioral and experimental methods |
|
June 29 |
Recent developments in heterodox economics |
|
July 6 |
Preview: the future of economics |
|
June 13 |
Summary and Q&A |