AØKA08030U History of Economic Thought
MSc in Economics
The course gives students an opportunity to familiarize themselves with the development of economic theory from Adam Smith to the 1970s. Obviously, only the major writers and the most controversial issues will be taken into account.
The basic philosophy of this courses stems from the selected textbook – that economics is an emerging science, where evolution happens continuously. We see how the major concepts have been suggested, constructed, and further developed.
The textbook will be the frame of the course. It will be read by participating students and discussed at the lectures. This will approx. take up half of the available time. The other half will be spend on participating students writing and presenting papers. These papers will be based on independent research of relevant literature (the expositions can be focusing on writers – i.e. Wicksell – or themes – i.e. the evolution of the idea of external effects). Projects can the written and presented individually or in small groups of participating students, normal seminar rules apply.
An approved project is a condition for standing for the exam.
Qualifications achieved: Participating students should become capable of recognizing and stating the position of basic key economic concepts and reasoning within the history of economics. Students should also become capable of demonstrating knowledge of the major theorists and their main texts in the history of economic thought. It is expected that students achieve the capacity to (1) work with issues in the history of economic thought based on knowledge of basic economic theory, (2) read and digest selected works in the history of economic thought and (3) put historically given economic ideas and theories into a contemporary theoretical context.Highest marks are obtained for examination papers that demonstrate independent and analytic comprehension, without essential errors, of selected problems in economic theory including a discussion of the theories' positions in the academic food chain. In addition, papers with the highest marks must demonstrate a capacity to draft and present key problems in the history of economic thought in a clear manner.
Agnar Sandmo: Economics Evolving: A History of Economic Thought, Princeton University Press, 2010
- 7,5 ECTS
- Type of assessment
- Written assignment, 3 hours under invigilation3 hours written at Peter Bangsvej.
- Exam registration requirements
- It is a condition for standing for the exam that a paper has been presented and accepted.
- Without aids
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
- Exam period
- Will be updated before the start of the semester
- Same as ordinary. But if only a few students have registered for the re-exam, the exam might change to an oral exams with a synopsis to be handed in. This means that the examination date also will change.
Criteria for exam assesment