ECON 4530 - History of Economic Thought

(3) Credit Hours

To what extent is current economic theory based on the accumulated historical inquiry of previous economists? The history of economic thought is the study of philosophies of different thinkers and theories throughout history in subjects that later became economics. Students will learn how great thinkers of past grappled with some of the central social and economic issues of their times and, in the process, enhanced our understanding of how economic systems function. This course examines major themes that have preoccupied economic thinkers throughout history including value and distribution, price determination and the principles of a competitive market system, monetary theory and banking, international trade, income distribution, business cycle theory, and the appropriate role for government in an economy. Spring semester. Prerequisites: ECON 1010 or ECON 1020 with minimum grades of C or department head approval. Junior Standing. Differential course fee will be assessed.