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JOHN CABOT UNIVERSITY

COURSE CODE: "EC 350"
COURSE NAME: "History of Economic Doctrines"
SEMESTER & YEAR: Fall Semester 2012
SYLLABUS

INSTRUCTOR: Micocci Andrea
EMAIL: [email protected]
HOURS: MW 11:30-12:45
TOTAL NO. OF CONTACT HOURS: 45
CREDITS:
PREREQUISITES: Prerequisites: EC 201, EC 202, EN 110 with a grade of C or above
OFFICE HOURS: MW 12.45 - 13.30

COURSE DESCRIPTION:
This course introduces the students to the historical development of economic thought, with particular attention to the way the ideas and the method of economics and political economomy have changed with time. The goal is to understand why in our days we find a "scientific" economics and a historical and multidisciplinary "political economy".
Also, we shall explore the thought of great economists and economic philosophers in order to understand how economic theories are bound to change in the next future. In fact, not only in our days we witness a worldwide economic crisis, but also an incapacity by economics and political economy to convincingly analyze it and overcome it.
SUMMARY OF COURSE CONTENT:
The course is composed of formal lectures and of class discussions of basic texts from the literature. The choice of the literature for discussion will be agreed with the students from the material proposed. Students are in fact strongly encouraged to interact with the teacher: this implies that the lectures will have to be prepared on a day-by-day basis. Students are also required to make formal presentations and take an active part in the discussion.
Here are the main lecture topics:
1. Introduction: what is economics, what is capitalism. Introduction to the philosophy and method of economics and political economy.
2. Mercantilism and the Physiocrats
3. Adam Smith
4. Thomas Robert Malthus
5. David ricardo
6. Bentham, Say, Senior, Thompson and Hodgskin
7. Bastiat and Mill
8. Karl Marx
9. Jevons, Menger and Walras
10. Marshall, Clark, Bohm-Bawerk
11. Thorstein Veblen
12. Hobson, Luxemburg and Lenin on Imperialism
13. Welfare Economics
14. John Maynard Keynes
15. Challenges to Economics: Sraffa, Lewis and Development Economics, Samuelson and Friedman. Marxist Political Economy and the Mainstream Heterodoxy
16. Neoliberal Ideas and the Present crisis
LEARNING OUTCOMES:
The main objective of this course is to give the students the means to think critically about economic theory and about its relationship with actual economic problems. The goal is to provide the student with a solid background for drawing personal critical conclusions in an informed and professional way.
Secondly, the course aims at helping the students orient themselves in the maze of alternative and competing theories we find in economics and political economy. At the end of the course the student should be able to recognize adn evaluate the various methodological aproaches, understanding the policy options entailed by each methodological stance.
In sum, the student must come out of the course being able to look at economic theories with a competent eye to gauge their merits and their limits, in order tobe able to make independent choices.
TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
History of Economic Thought A Critical PerspectiveHunt, E.K., Lautzenheiser, M.M.E.Sharpe978-0-7656-2599-1     
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Class discussionClass discussion might also imply the writing of short essays.10%
Final ExamThe exam consists in answering three questions from a given set in the form of brief essays.60%
mid-term paperThe main goal of the mid-term paper is not only to assess the progress of the student. It is also an occasion for a direct interaction between individual students and the teacher.30%

-ASSESSMENT CRITERIA:
Letter grades as defined by JCU.
-ATTENDANCE REQUIREMENTS:
Attendance is mandatory.
ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.
STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

To be decided together with the students. However, here is an indicative schedule on a week by week basis.
week 1: introduction to the course, Mercantilism, the Physiocrats
week 2: Adam Smith
week 3: Malthus
week 4: Ricardo
week 5: Bentham, Say, Senior, Thompson, Hodgskin, Bastiat, Mill
week 6: Marx
week 7: Jevons, Menger, Walras
week 8: Marshall, Clark, Bohm-Bawerk
week 9: Veblen, theories of imperialism
week 10: welfare economics
week 11: Keynes
week 12: challenges to the mainstream
week 13: Marxism and heterodox mainstream approaches
week 14: Neoliberal ideas and the present crisis
week 15: final considerations.