ECON361 HISTORY OF ECONOMIC THOUGHT I
| Course Code: | 3110361 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 6.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Assist.Prof.Dr ÇINLA AKDERE |
| Offered Semester: | Fall Semesters. |
Course Objectives
This course is designed to introduce students to the history of economic thought. We focus on essential ideas of prominent economists and schools of economic thought relating them to real-world problems and when applicable to present-day problems. The course also brings to light the social and economic conditions associated with the emergence of different schools of economic thought. While exploring the economic thought of renowned economists, connections with philosophy and other disciplines will be spelled out. The dynamics of shifts from the prominence of one school of thought to another will also be explored. In this context, the rise and demise of classical political economy and the subsequent rise of marginalist approach will constitute the main axis of the course content. Major controversies over the definition of the objectives, scope, and methodology of economic theories will be surveyed. Various critical departures from the dominant theory will also be taken up.
Course Content
The evaluation and improvement of the tools of analysis of economic phenomena within a historical perspective; Mercantilism, Physiocrats; beginning of Classical School, Smith, Malthus, Ricardo, Mill and Marxian economics.
Course Learning Outcomes
Acquiring the ability to conncect old economic deabates to actual ones.
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | The aim of our program is to equip our students with the necessary skills and tools to have a firm understanding of economic theory and policymaking. Our graduates will be able to conceptualize economic problems, assess, analyze, and propose scientific solutions to them. | ✔ | |||
| 2 | Our students are expected to have interdisciplinary perspective to be able to follow and understand daily economic and political developments. | ✔ | |||
| 3 | Our program also trains students to be open to new ideas, be sensitive about social problems surrounding them and work towards providing solutions for these to share with their community. | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution