|Course code module||FTEBAK3030|
|Study load (hours)||168|
|Language of instruction:||Dutch|
|Semester exam information:||semester exam in June|
|Contract restriction information:|
- basic knowledge of microeconomics
- basic knowledge of macroeconomics
2. Objectives (expected learning outcomes)
- knowledge of the main movements in the history of economic thought
- insight into the work of the principal economists
- ability to connect developments in economic thought with the broader societal and scientific context
3. Course content
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.
4. Teaching method
Direct contact: Lectures
Personal work: Exercises
5. Assessment method
Exam: Written, without oral presentationClosed bookOpen questions
6. Compulsory reading – study material
Guido ERREYGERS, Ontwikkeling van het Economisch Denken [Cursustekst], Leuven, Acco, 2006.
Guido ERREYGERS (Ed.), Ontwikkeling van het Economisch Denken. Tekstenbundel, Leuven, Acco, 2006.
7. Recommended reading - study material