Humboldt-Universität zu Berlin - Wirtschaftswissenschaftliche Fakultät

History of Economic Thought since 1870


  • Lecture
  • Friday 12-14 SPA1, 220
  • Dr. T. Düppe
  • Moodle Link


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.


  • 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


Written exam (90min)

Supplementary material




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