Edit due to current COVID-19 crisis:

Due to the current circumstances, the course will be held via ZOOM for the time being. The examination modalities of this course stay the same, as all the important parts can be done by the students at home or in groups via ZOOM.

The invitation to the ZOOM meetings together with the password can be found in the shared ownCloud folder.

 

 

 

Course Content

 

This module represents part two of the course on the history of economic thought. It tries to offer a problem-oriented introduction into the history of economic thought and its historical context from a critical, macroeconomic 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

• A critical analysis of traditional goals of economic policy
• Possibilities of counter-cyclical policy
• The challenges of national and international distribution policy
• A basic overview of several different economic paradigms

Learning Outcomes

This course’s goal is to

• Analyse todays’ problems related to Austrian, European and international economic policy
• Create awareness of the need for more engagement with economic history and history of economic thought

After finishing the course, the students should be able to

• Assess problems of economic policy using social and economic criteria
• Differentiate between different points of view regarding economic theory and policy
• Use a wider array of arguments for future debates.

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 articles 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.

 

Grading

Grades are given based on the students’ active participation as well as their presentation in groups (40 %) and a peer-reviewed group essay (60%). Bonus points may be achieved via the submission of summaries discussing the content of the class, the texts discussed and eventual presentations.

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

 

Contact

Ludwig List: llist@wu.ac.at

 

Recommended Literature

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.

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.