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 | Use and develop skillfully economic concepts and theories, analyse economic behaviour and events by conceptualizing and evaluating via scientific methods (Has skills regarding theory and analysis) | ✔ | |||
| 2 | Evaluate how economic policies affect economic performance and how economic interest, relationship and interaction affect policy decisions (Knowledgeable about economic policies) | ✔ | |||
| 3 | Design and carry out studies regarding data collection, analysis and evaluation, that can be used in decision processes at every level (individual, firm, government, etc.)(Knowledgeable about quantitative and qualitative methods) | ✔ | |||
| 4 | Evaluate systematically and compare economic knowledge, phenomena and methodology; Develop critical, creative/innovative approaches to these (Critical, creative, innovative) | ✔ | |||
| 5 | Understand current economic phenomena and relevant political developments using information and data from various resources and provide multifaceted explanations (Concerned about current events) | ✔ | |||
| 6 | Follow developments in economic theory and methods; Be open to continuous learning (Open to continuous learning) | ✔ | |||
| 7 | Have skills to work independently and in a team (Individual and teamwork) | ✔ | |||
| 8 | Approach critically to economic and societal events and problems while being sensitive to social problems; Produce solutions to these problems by scientific approach; Share own thoughts (Sensitive to social problems) | ✔ | |||
| 9 | Communicate clearly, effectively and fluently (in English and Turkish) verbally and in writing, utilizing new technologies (Has effective communication skills) | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution