EC 401 History of Economic Thought
S1T 2012 DL
Lewis, Leslie Hugh
MBA Management/Psychology University of North TexasMEd HRD, Adult Ed,, & Leadership University of Texas at AustinBBA Baylor University Economics/Finance & HR Management BS Social Psychology Park University at Austin ACC AAS Electronic Technology
Jan. 16 to Mar.11, 2012
The Seventh Edition of THE EVOLUTION OF ECONOMIC THOUGHT presents the history of economics and the philosophies that drive the economic way of thinking. It stresses the importance of understanding contemporary economics, by grasping new ideas, evidence, problems and values that call for reconsideration of basic disputes and major contributions of the past. The textbook explains the ideas of the great economic thinkers and their logical connections to the world of today and tomorrow. Updated pedagogical features provide clear insight into issues like antitrust perspectives and game theory. Introducing ideas like Robert Solow's pioneering model to discuss recent renewed emphasis on growth theory and technological change, the author sheds historical light on modern debates and thoughts. Stanley Brue and Randy Grant carry on the legacy of Jacob Oser, the book's creator, by offering a scholarly and timely presentation of the history of economic thought.
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Educational Philosophy: My educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, internet, videos, web sites and writings. I will engage each learner in what is referred to as disputatious learning to encourage the lively exploration of ideas, issues and contradictions.
Learning Outcomes: Core Learning Outcomes
Write a paper that evaluates the impact of an economy guided by the institutions embodied in a socialistic form of economic organization andone guided by the institutions embodied in a capitalistic form of economicorganization. After examining the components of each approach contrast and compare the two types of systems in terms of their impact on economicdevelopment and specific economic outcomes. Propose your own solutions to anyweaknesses in the two systems and explain how your system might promote economic development and economic outcomes more effectively.
Link to Class RubricClass Assessment: Homework
The work you do in this class is valued as follows:
Total Points Possible
The following percentages will be used to assign course grades:
90% - 100% = 900 - 1000 points = A
80% - 89% = 800 - 899 points = B
70% - 79% = 700 - 799 points = C
60% - 69% = 600 - 699 points = D
Below 60% = 599 points or less = F
The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.
All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.
Classroom Rules of Conduct: In this course, some people may have different opinions which you do not agree with. Be objective and respectful when responding to different points of view. Working online may make communication more difficult since you don't see each other's body language.
Our course follows the general schedule in the table below. You will want to follow the specific weekly instructions in each weekly module to ensure that you meet all of the weekly requirements.
See the Grading Rubrics button below for the breakdown of course points and the weight for each activity.
Text: Chapter 1: Introduction and Overview, Appendix not required
Text: Chapter 2: The Mercantilist School (Pages 13-23, 27-30)
Text: Chapter 3: The Physiocratic School (Pages 33-41)
Homework, Quiz, Discussion, Term Paper Topic Selection
Text: Chapter 4: The Classical School - Forerunners (Pages 45-49)
Text: Chapter 5 (Pages 61-82)
Internet: David Hume: "David Hume." The Concise Encyclopedia of Economics. 2008. Library of Economics and Liberty. Retrieved June 26, 2009 from the World Wide Web: http://econlib.org/library/Enc/bios/Hume.html
Homework, Quiz, Discussion
Text: Chapter 6: The Classical School - Thomas Robert Malthus
Text: Chapter 8: The Classical School - Bentham, Say, Senior, and Mill
Internet: "David Ricardo" The Concise Encyclopedia of Economics. 2008. Library of Economics and Liberty." http://econlib.org/library/Enc/bios/Ricardo.html
Homework, Quiz, Discussion, Term Paper Proposal
Text: Chapter 10: Marxian Socialism
Text: Chapter 12: The Marginalist School – Forerunners (211-215)
Text: Chapter 13: The Marginalist School – Jevons, Menger, von Wieser, and von Bohm-Bawerk (231-244)
Text: Chapter 14: The Marginalist School – Edgeworth and Clark (262-273)
Homework, Quiz, Discussion, Initial Term Paper
Text: Chapter 15: The Neoclassical School: Alfred Marshall
Text: Chapter 16: The Neoclassical School: Monetary Economics (Pages 308-311)
Text: Chapter 17: The Neoclassical School (pages 325-330)
Internet: Edwin H. Chamberlin: http://www.unc.edu/depts/econ/byrns_web/EC434/HET/Notables/chamberlin.htm
Source: ©2008 EconomicsInteractive.com Author: Ralph Byrns (If this website is unavailable, refer to the lecture material on Chamberlin.)
Internet: Joan Robinson: http://www.unc.edu/depts/econ/byrns_web/EC434/HET/Notables/robinson.htm
Source: ©2008 EconomicsInteractive.com Author: Ralph Byrns (If this website is unavailable, refer to the lecture material on Robinson.)
Text: Chapter 19: The Institutionalist School (369-374), Wesley Clair Mitchell (384-388), John Kenneth Galbraith, (388-392)
Text: Chapter 20: Welfare Economics, Arthur Cecil Pigou, (401-407)
Homework, Quiz, Discussion, Term Paper Final
Text: Chapter 21: The Keynesian School – John Maynard Keynes, 427-433
Text: Chapter 22: The Keynesian School – Developments Since Keynes, pages 456-457, Past as Prologue
Internet: Keynesian Economics by Alan S. Blinder. Alan S. Blinder. "Keynesian Economics." The Concise Encyclopedia of Economics. 2008. Library of Economics and Liberty. Retrieved June 20, 2009 from the World Wide Web: http://www.econlib.org/library/Enc/KeynesianEconomics.html
Internet: Milton Friedman. "Milton Friedman." The Concise Encyclopedia of Economics. 2008. Library of Economics and Liberty. Retrieved June 20, 2009 from the World Wide Web: http://www.econlib.org/library/Enc/bios/Friedman.html
Podcast from NPR:
"Obama Gives Keynes His First Real-World Test" by Adam Davidson and Alex Blumberg" http://www.npr.org/templates/story/story.php?storyId=100018973
... "The Obama Administation is trusting Keynes"
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Last Updated:12/18/2011 4:57:55 PM