History of Economic Thought

Recommended Prerequisites

A good knowledge of economic theory (micro and macro) at the undergraduate level is strongly recommended. Competence of reading in English is indispensable.

Teaching Methods

Presentations of each topic by the lecturer; oral presentations by students; debate (in small groups and/or in the context of the class as a whole).

In order to enhance the involvement and participation of students in the teaching-learning process, the assessment of students’ achievements is exclusively based on a system of continuous assessment.

Learning Outcomes

Objectives

The aim of this course is to familiarize students with the formation of the economic theories, concepts and methods that have shaped economic science as we know it today. More specifically, the goal is to foster a reflection on the major “visions” and analytical constructs that moulded contemporary economics by means of the study of important milestones in the evolution of economic thought as a systematic discourse since the eighteenth century to the present and by showing the complex and plural nature of economics, a discipline characterized by important debates and controversies over time.

Competencies

Apart from the acquisition of fundamental knowledge about the evolution of economic science, it is expected that students develop capacity for analysis and synthesis, written communication and ability to work autonomously and in group; exercise critical thinking and develop research, presentation and argumentative abilities.

Work Placement(s)

No

Syllabus

1. Introduction. Why and how to study the HET?
2. From Moral Philosophy to Political Economy: the genesis of modern economics
3. Classical Political Economy
4. The marginalist revolution and the consolidation of the neoclassical school
5. Other approaches: Institutionalism and the Austrian school

6. Keynes and the keynesian revolution. The Keynes-Hayek controversy. More recent macroeconomic developments

7. The mathematization and professionalization of economics

8. Welfare economics, public choice and the analysis of the role of the government

9. The return of ethics: from Robbins to Amartya Sen

10. The economic science in Portugal.

Assessment Methods

Assessment
Class participation: 20.0%
A paper with presentations in class: 30.0%
Test: 50.0%

Bibliography

BACKHOUSE, Roger E. - The Penguin History of Economics. Penguin Books, 2002.

 

BACKHOUSE, Roger E. - A History of Modern Economic Analysis. Basil Blackwell, 1985 (parcialmente disponível em http://www.socscistaff.bham.ac.uk/backhouse/homepage/hmea/contents.html)

 

RONCAGLIA, Alessandro – The Wealth of Ideas: A History of Economic Thought. Cambridge University Press, 2005.

 

Para cada tópico serão dadas indicações bibliográficas específicas, em particular artigos.