ES32017: History of economic thought
[Page last updated: 22 April 2025]
| Academic Year: | 2025/26 |
| Owning Department/School: | Department of Economics |
| Credits: | 10 [equivalent to 20 CATS credits] |
| Notional Study Hours: | 200 |
| Level: | Honours (FHEQ level 6) |
| Period: |
- Semester 2
|
| Assessment Summary: | EXCB 100% |
| Assessment Detail: |
- Unseen Examination (EXCB 100%)
|
| Supplementary Assessment: |
- Like-for-like reassessment (where allowed by programme regulations)
|
| Requisites: |
In taking this module you cannot take ES20022
Before taking this module you must ( take ES12001 AND take ES12002 ) OR take ES12011 OR ( take ES10001 AND take ES10002 ) OR take ES10010
|
| Learning Outcomes: |
On completion of the module you should be able to demonstrate:
- An understanding of the economic models and contributions to policy of a number of economists since Adam Smith;
- Knowledge of key debates in the development of economic ideas;
- Ability to identify the approaches and methodologies characterising different schools of thought;
- Ability to evaluate the significance and relevance of these contributions; and
- An appreciation of the historical contexts of some of the key economic ideas studied during your degree course.
|
| Synopsis: | Explore the major areas in the history of economic thought, such as Classical Economics, Neoclassical Economics, Austrian Economics and Keynesianism. You will focus on both key theoretical advances and policy implications for each area.
|
| Content: | The first part will survey the development of economic ideas, in a chronological order:
a. Pre-classical and Classical Political Economy
b. Marxian Critique
c. Marginalism and Neoclassical Economics
d. Keynesian Revolution
e. Hayek and the Austrian School
f. Monetarism
g. Rational Expectations Revolution
The second part will discuss some of the economic ideas/concepts, tracing the historical route of developments. These may include (i) theories of value and distribution (ii) equilibrium analysis (iii) utility and welfare, (iv) national income, fluctuations and crises, (v) imperfect competition, (vi) technology and growth. It will also cover some of the recent developments/ debates in economics.
|
| Course availability: |
ES32017 is Compulsory on the following courses:
Department of Politics, Languages and International Studies
- UHPL-AFB54 : BSc(Hons) Politics with Economics (Year 3)
- UHPL-AAB10 : BSc(Hons) Politics with Economics with Study year abroad (Year 4)
- UHPL-AKB10 : BSc(Hons) Politics with Economics with Year long work placement (Year 4)
ES32017 is Optional on the following courses:
Department of Economics
- UHES-AFB10 : BSc(Hons) Economics (Year 3)
- UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 4)
- UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 4)
- UHES-AFB12 : BSc(Hons) Economics and Mathematics (Year 3)
- UHES-AAB04 : BSc(Hons) Economics and Mathematics with Study year abroad (Year 4)
- UHES-AKB04 : BSc(Hons) Economics and Mathematics with Year long work placement (Year 4)
- UHES-ACB04 : BSc(Hons) Economics and Mathematics with Combined Placement and Study Abroad (Year 4)
- UHES-AAB01 : BSc(Hons) Economics and Politics with Study year abroad (Year 4)
- UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 4)
- UHES-ACB01 : BSc(Hons) Economics and Politics with Combined Placement and Study Abroad (Year 4)
- UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 4)
- UHES-AFB11 : BSc(Hons) Economics with Politics (Year 3)
Department of Social & Policy Sciences
- UHSP-AFB31 : BSc(Hons) International Development with Economics (Year 3)
- UHSP-AKB21 : BSc(Hons) International Development with Economics with Year long work placement (Year 4)
|
Notes: - This unit catalogue is applicable for the 2025/26 academic year only. Students continuing their studies into 2026/27 and beyond should not assume that this unit will be available in future years in the format displayed here for 2025/26.
- 好色tv and units are subject to change in accordance with normal University procedures.
- Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
- Find out more about these and other important University terms and conditions here.
|
