| Unit name | History of Economic Thought |
|---|---|
| Unit code | ECON20021 |
| Credit points | 20 |
| Level of study | I/5 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Dr. Guizzo |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None. A general knowledge of economics appropriate to the second year of an economics degree will be assumed. |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Economics |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
Does economics have a useful past? Or is it the case that all truly important contributions of the past are incorporated in our present theory? Is the discovery of the errors made by earlier thinkers a waste of time? In this course we will examine the efficiency of the market for ideas. We will see that there are arguments in the work of earlier thinkers which remain unincorporated in our contemporary theory and which, once incorporated, can improve our understanding of matters.
How does this unit fit into your programme of study?
This (optional) unit complements the core economics you have learnt in your first two years of study, and will provide you the opportunity to critically evaluate modern economic theories, through a historical lens.
Overview of Content
This is a generalist course that covers a wide variety of topics, scholars and schools of thought in economics. It is not meant to be exhaustive or give you final answers to everything, but rather it offers guidance and initial insights on different schools of thought, historical contexts and will initiate you on academic research in the history of economic thought. We study the evolution of economic ideas from the perspective of different scholars, reading their original works, but also going through what historians of economics have researched.
Note that we will not focus solely on the role of single individuals, but on external factors that have also contributed to the development of ideas: intellectual communities, institutional arrangements, historical contexts, colonialism and exploitation, power relations (including racism/sexism), travelling, debates, ideologies, criticisms and the sociology that explains the formation of the economics discipline. The unit will help you transition from student to scholar
How will students, personally, be different as a result of this unit?
Students will develop an understanding of where current economic paradigms sit within the historical context of economic ideas, and will develop the ability to critically evaluate both historical, and modern, economic ideas through the lens of more than 300 years of economic thought.
Learning Outcomes
Students will be able to:
Teaching will be delivered through a combination of large and small group classes, supported by online resources
Tasks which help you learn and prepare you for summative tasks (formative):
1,000 word research proposal that will help students to prepare and discuss their research paper before the summative submission.
Tasks which count towards your unit mark (summative):
2,000 word research paper developed by the student on a topic of choice, in which they have to develop their own research question and literature review based on the list of themes covered during the term. The essay is a bibliographical exercise.
Assesses all learning outcomes.
When assessment does not go to plan
2,000 word essay with a set theme/question based on the content covered within the unit.
Assesses all learning outcomes.
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ECON20021).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
