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ECON3051: HISTORY OF ECONOMIC THOUGHT

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Type Open
Level 3
Credits 20
Availability Not available in 2023/24
Module Cap
Location Durham
Department Economics

Prerequisites

  • Macroeconomics (ECON2011) AND Microeconomics (ECON2021) OR Economic Theory (ECON****)

Corequisites

  • None.

Excluded Combinations of Modules

  • None.

Aims

  • To develop knowledge of the schools of thought in the history of economics since Classical Economics, and to examine the methodological criteria by which analytical or scientific advances in the discipline may be determined. The module also provides students with the opportunity to participate in student-centred learning drawing on recent research. This module builds on the knowledge and understanding gained in Level 2 core modules.

Content

  • The module focuses on Classical economics, covering the literature from Smith to Cairnes and including such topics as value, distribution, money, trade, economic growth and public finance as well as economic policy issues.
  • After this the module turns to the writing of particular individual economists: Marx, Jevons, Menger, Wakas, Wieser, Bohm-Bawerk, Keynes .
  • The module concludes with a discussion of theories of the history of science and their applications to economics.

Learning Outcomes

Subject-specific Knowledge:

  • understanding the historical development of analytical techniques in economics

Subject-specific Skills:

  • using the history of ideas as an essential part of economic reasoning

Key Skills:

  • Reasoning abilities
  • Skills in assessing alternative ideas, and the criteria used in accepting or rejecting economic arguments, theories or theoretical systems
  • Mathematical skills will be enhanced by examination of the gradual refinement of mathematical techniques in economics.
  • Students' skills in writing and presenting their economic knowledge

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lectures and tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of one piece of written work. Summative assessment is by means of a written examination and a written assignment.

Teaching Methods and Learning Hours

ActivityNumberFrequencyDurationTotalMonitored
Lectures221 per week1 hour22 
Tutorials8Fortnightly1 hour8Yes
Preparation and Reading170 
Total200 

Summative Assessment

Component: ExaminationComponent Weighting: 60%
ElementLength / DurationElement WeightingResit Opportunity
One written examination2 hours100 
Component: AssignmentComponent Weighting: 40%
ElementLength / DurationElement WeightingResit Opportunity
One written assignment2500 words max100 

Formative Assessment

One piece of written work of not more than 1500 words.

More information

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