ECN 490, 491 - CUE: History of Economic Thought

Course unit(s): 1
Meets GAR: Meets general academic requirement W when offered as 490.
Prerequisite(s): ECN 220, 221 Intermediate Microeconomic Theory and ECN 222, 223 Intermediate Macroeconomic Theory .
This course traces the development of systematic economic reasoning from the pre-Mercantilist period to modern times. Attention is given to the influence of changing economic conditions and institutions on the progress of economic thought. The seminal ideas of Smith, Malthus, Ricardo, Marx, Walras, Marshall, Keynes, and others are examined. The schools of economic thinking that grew out of the work of these major contributors are studied, including Classical, Marginalist, Neo-Classical, Institutionalist, Keynesian, and Radical economics. The evolution of mainstream economics from its early beginnings as laissez-faire political economy to its contemporary scientific approach is considered. The role of scientific methodology in economic inquiry is examined. The historical roots of current economic issues and debates are studied.