The Critical Evaluation of the History of Economic Thought
A survey of the Development of Economic Thought from the 16th Century to the 1980s.
Vertical Tabs
Course Learning Outcomes
|
Learning Outcomes |
Program Learning Outcomes |
Teaching Methods |
Assessment Methods |
||
|
Students will obtain a methodological framework for evaluating the mainstream economics |
2, 4, 5, 7 |
1, 2, 3 |
A |
||
|
Students will have ability to compare and contrast between orthodox and heterodox schools of economics. |
2, 4, 5, 7 |
1, 2, 3 |
A |
||
|
The students will have knowledge concerning the main economists, schools and historical periods which played important roles in the history of economic thought. |
2, 4, 5, 7 |
1, 2, 3 |
A |
||
Course Flow
|
Week |
Topics |
Study Materials |
|
|
1 |
The framework of the course: Methodological foundations of the History of Economic Thought (Absolutist and Relativist Approaches in studying the history of economic thought) |
Hunt and Lautzenheizer, Ch. 1 |
|
|
2 |
Economic thought in Ancient Greek and the Middle Ages. |
Hunt and Lautzenheizer, Ch. 1 |
|
|
3 |
Mercantilist Doctrine and Physiocratic Economic Thought |
Hunt and Lautzenheizer, Ch. 2 |
|
|
4 |
Classical Political Economy I: Adam Smith |
Hunt and Lautzenheizer, Ch. 3 |
|
|
5 |
Classical Political Economy II: David Ricardo |
Hunt and Lautzenheizer, Ch. 5 |
|
|
6 |
Classical Political Economy III: Malthus, Say and Senior |
Hunt and Lautzenheizer, Ch. 6 |
|
|
7 |
Mid-Term |
|
|
|
8 |
The Critics of Classical Political Economy: Karl Marx’s Thought System |
Hunt and Lautzenheizer, Ch. 9 |
|
|
9 |
Transition from Classical to Neoclassical Analysis |
Readings T.B.A. |
|
|
10 |
Neoclassical Marginalist Economics I: Leon Walras and General Economic Equilibrium |
Hunt and Lautzenheizer, Ch. 10 |
|
|
11 |
Neoclassical Marginalist II: Alfred Marshall and Partial Equilibrium |
Hunt and Lautzenheizer, Ch. 10 and 11 |
|
|
12 |
Thorstein Veblen and Institutionalism |
Hunt and Lautzenheizer, Ch. 12 |
|
|
13 |
The Developments in Macroeconomics in 20th Century: J. M. Keynes and Keynesianism |
Hunt and Lautzenheizer, Ch. 15 |
|
|
14 |
Piero Sraffa and the Revival of the Classical Political Economy |
Hunt and Lautzenheizer, Ch. 16 |
|
Recommended Sources
|
Textbook |
E.K. Hunt and Mark Lautzenheizer, History of Economic Thought: A Critical Perspective Third Edition, 2011, M. E. Sharpe |
||
|
Additional Resources |
Vedit İnal, Lecture Notes for the Course |
Material Sharing
|
Documents |
|
||
|
Assignments |
|
||
|
Exams |
A mid-term and a final |
Assessment
|
IN-TERM STUDIES |
Number |
PERCENTAGE |
|
|
Mid-terms |
1 |
50 |
|
|
Quizzes (attendance, presentation, etc.) |
0 |
0 |
|
|
Assignments |
0 |
0 |
|
|
|
Total |
100 |
|
|
Contribution of Final Examination to Overall Grade |
|
50 |
|
|
Contribution of In-Term Studies to Overall Grade |
|
50 |
|
|
|
Total |
100 |
|
Course’s Contribution to Program
| No | Program Learning Outcomes | Contribution | ||||
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | Students can keep themselves informed and analyze the current economic development in Turkey and in the world from an international political economy perspective paying a particular attention to the interaction of the Turkish economy with the global economy. | X | ||||
| 2 | Being aware of the development and accumulation of economic thought, students can master qualitative and quantitative knowledge and methods to test various economic theories that can be applied to the analysis of the current economic problems. | X | ||||
| 3 | Students can use statistical and econometric analyses by learning how to use information technologies that have validity and widespread use in the field of economics. | X | ||||
| 4 | By learning how to learn in the field of economics, students can research and work individually or as a team using the Turkish and English academic resources. | X | ||||
| 5 | Being aware of the ethical values, students know the individual, social and ecological dimensions of the concept of social responsibility and can prove that they understand the active citizenship duty that falls upon them within this framework. | X | ||||
| 6 | Students can clearly express, present and share their knowledge, the outcomes of their studies, their ideas and comments to people in their field or other disciplines/units using the necessary data, in national and international academic and professional environments, in Turkish or English. | X | ||||
| 7 | Students can show that understanding the universality of social rights and the concepts of social justice, which form the basis of the modern societies, and the importance of scientific perspective, which is necessary to the social development and global competitiveness. | X | ||||
ECTS
|
Activities |
Quantity |
Duration (Hour) |
Total Workload (Hour) |
|
Course Duration (Including the Exam Week: 15 x total course hours) |
15 |
3 |
45 |
|
Hours for off-the-classroom study (Pre-study, practice) |
15 |
3 |
45 |
|
Mid-terms |
1 |
15 |
15 |
|
Quizzes (attendance, presentation, etc.) |
0 |
0 |
0 |
|
Assignments |
1 |
10 |
10 |
|
Final Examination |
1 |
15 |
15 |
|
Total Work Load |
|
|
130 |
|
Total Work Load / 25 (s) |
|
|
5,2 |
|
ECTS Credit of the Course |
|
|
5 |