AØKK08341U Seminar: Study a Classical Writer - cancelled

In economics we often refer to specific writers when characterizing economic theory i.e. ”this is a model where Ricardian equivalence applies”, ”typically Austrian”, and “Nash equilibrium”, “Piketty is a typical Marxist” or “Keynesian model”.

For some this may make things clear. D oing History of Economic Thought or diving into the writings of famous, sometimes late economists may not be strictly necessary. One can certainly become an excellent economist without knowing what Ricardo himself thoughts about debt vs tax financed public expenditure or whether Keynes, himself was “Keynesian” in the sense of modern textbooks.

However, when you learn how the ideas were construed, you may obtain a better and deeper understanding of the concepts. You can of course learn what “external effects” are by reading a text of public or environmental economics, however when you see how Marshall and Pigou struggled, you get something extra. Sometimes you even learn something of surprising relevance as when Keynes 1919 analyzed the Peace Treaty after World War I.

In the course on “History of Economic Thought” we read (a very good) text on the development of economic ideas. In this seminar, we do the opposite – you select a writer (typically pre 1970) and/or a text and write a seminar about your findings. “Why do we have unemployment in Keynes’ model?” or “why did Marx believe that capitalists would destruct themselves?”

You are welcome to consult all kinds of texts but it is essential that you try to get to grips with the original stuff.