Objectives and competences
In this course students:
1. Enhance their knowledge in the field of history of economics and the evolution of economic ideas.
2. Gain the ability to apply their theoretical knowledge in understanding, comparison and critical assessment of economic ideas and concepts.
Content (Syllabus outline)
1. Forerunners of the classical school and the evolution of the classical school: economic ideas of antique and medieval ages, mercantilism, physiocracy, classical political economy.
2. Evolution of microeconomics: the marginalist school and subjectivism, Marshallian economics, marginal productivity theory of distribution.
3. Evolution of macroeconomics: the Keynesian system.
4. Alternative economic ideas: the German historical school, the American institutionalism, welfare economics, economics of imperfect competition, economics of growth and development.
5. Contemporary economic theories: neoclassical synthesis, monetarism, theory of rational expectations, new keynesianism, post- keynesianism.
6. Evolution of the methodology of economic analysis.
Learning and teaching methods
- lectures;
- discussion of the seminar papers;
- teachers' consultations;
- self study with literature
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding
Students:
1. Have a detailed knowledge of history of economic thought.
2. Learn to recognise different economic concepts and schools of economic thought.
3. Learn how to analyse and synthesise theoretical approaches of various schools of economic thought.
Intended learning outcomes - transferable/key skills and other attributes
Cognitive/Intellectual skills
Students:
1. Understand theoretical analysis and the development of economic thought.
2. Learn to compare and synthesize different knowledge of schools of economic thought.
3. Can identify key aspects of economic problem from different view points.
Key/Transferable skills
Students:
1. Develop skills and expertise in the use of various economic-theoretical concepts by explicating contemporary economic processes.
2. Upgrade the ability to become an autonomous learner.
Practical skills
Students:
1. Develop the skills to critically assess present theoretical ideas, economic and political contradictions.
Readings
Brue, L. Stanley. 2000. The Evolution of Economic Thought. New York: The Dryden Press.
Blaug, Mark. 1999. Economic Theory in Retrospect. Cambridge: Cambridge University Press.
Snowdon, Brian, Howard R. Vane in Peter Wynarczyk. 1998. A Modern Guide to Macroeconomics, An Introduction to Competing Schools of Thought. Cheltenham: Edward Elgar.
Sušjan, Andrej. 2006. Uvod v zgodovino ekonomske misli. Ljubljana: Ekonomska fakulteta.
Additional information on implementation and assessment - preparation of written discussion (a positively evaluated written discussion is a prerequisite for taking the written exam);
- written examination
