Course Content

 

This course tries to offer a problem-oriented introduction into the history of economic thought and its’ historical context from a critical perspective. Apart from presenting various basic economic concepts, several goals, instruments and fundamental debates in economic theory and policy will be explained and discussed.

The focus of this course lies in

• Tracing how the scope of what is considered an economic question, how the methods of those who explore economic questions have changed, and how this influenced the subsequent evolution of ideas in social sciences and society as a whole
• Identifying the main ideas of classical political economy, neoclassical economics and Keynesian ideas
• Critically analysing traditional goals of economic policy and linking them to broader questions of societal order

 

 

Learning Outcomes

 

After finishing the course, the students should be able to

• Give examples of how events shape economic ideas, and how economic ideas shape events
• Identify the major ideas associated with each school or author studied, and thereby comprehend the origins of contemporary theory
• Appreciate that most modern ideas have long histories, and that 'there is little new under the sun'
• Appraise the distinction between classical political economic and neoclassical economics, explaining why some scholars de-emphasize the distinction altogether, while others regard it as a fundamental shift in the character of economic theorizing

 

 

Course Design

 

At the beginning of the lecture, the lecturer introduces the students to specific topics and gives a short summary of important persons in the history of economic thought with emphasis on the respective historical context. To prepare themselves the students read one or several text passages or chapters of classics in the history of economic thought. Furthermore, they organise in groups in order to prepare different presentations and provide valuable inputs for the following debate.

In general, the course design tries to provide ample space for discussion with the goal of comparing different points of view. Finally, it should motivate the students to elaborate proper arguments on their own and to gain experiences in the presentation of content and their own opinions.

Grades are given based on the students’ active participation as well as their presentation in groups (40 %) and a final exam (60%).

 

Students from other faculties or universities will be given a place on the course subject to room capacities.

 

Recommended Literature (not needed to pass the course):

Allen, R. C. (2011). Global Economic History: A Very Short Introduction (1 edition). Oxford ; New York: Oxford University Press.

Blaug, M. (1997). Economic Theory in Retrospect (5 edition). Cambridge ; New York: Cambridge University Press.

Heilbroner, R. L. (1999). The Worldly Philosophers: The Lives, Times And Ideas Of The Great Economic Thinkers, Seventh Edition (7th Revised). New York: Touchstone.

Hobsbawm, E. (1989). The Age of Empire: 1875-1914 (Reprint edition). New York: Vintage.

Hobsbawm, E. (1996). The Age of Extremes: A History of the World, 1914-1991 (1st edition). New York: Vintage.

Hobsbawm, E. (2000). The Age of Capital, 1848-75. London: Orion Pub Co.

Kurz, H. D. (2017). Geschichte des ökonomischen Denkens (2nd ed.). München: C.H.Beck.

Robbins, L. (2000). A History of Economic Thought: The LSE Lectures (New Ed edition). Princeton: Princeton University Press.