History of Economic Thought

Course Code :1201TEWKOO
Study domain:Economic Sciences
Academic year:2019-2020
Semester:2nd semester
Sequentiality:The student must have obtained a credit for the following course:

- 'Inleiding tot de algemene economie' of 'Economie'
Contact hours:45
Credits:6
Study load (hours):168
Contract restrictions: No contract restriction
Language of instruction:Dutch
Exam period:exam in the 2nd semester
Lecturer(s)Guido Erreygers

3. Course contents *

The course offers a broad overview of evolutions in economic thought and a detailed discussion of contributions by various economists, the concepts they apply and the coherence of their mental frameworks. The introduction outlines the principal sources for the history of economic thought. Part I deals with the ‘Pre-Classical’ period, with special focus on such authors as Petty, Mandeville and Cantillon, and the physiocrats. Part II deals with the ‘Classical’ period, with discussions of the work of Adam Smith, Thomas Robert Malthus, David Ricardo, John Stuart Mill and Karl Marx.  Attention is also devoted to  the insights of Jeremy Bentham and the early socialists (Saint-Simon, Fourier, Owen, …). In Part III, the focus is on the ‘Neo-Classical’ period. Here, we consider such Neo-Classical pioneers as (Cournot, Dupuit, Gossen), the Neo-Classical revolution (Jevons, Menger, Walras), the Historical School, the emergence of welfare economics, the theory of general economic equilibrium, etc. The work of John Maynard Keynes in the inter-war years is also discussed. Where appropriate, reference shall also be made to the more recent history of economic thought.