316-311 Development of Classical and Neoclassical Economics

Note

Students may not obtain credit for this subject and the subject 316-311 Marxian and Post Keynesian Economics or 316-425 Development of Neoclassical Economics.

Availability

Coordinator

Prerequisites

316-201 Intermediate Macroeconomics and 316-202 Intermediate Microeconomics.

Contact

Subject Description

The unifying themes of classical political economy; the surplus approach; the classical approach to value, distribution and growth, emphasising the work of Smith, Malthus, Ricardo and Marx. A consideration of the relevance of these ideas today. The development of neoclassical theory emphasising the work of Jevons, Walras, Wicksell, Marshall and Edgeworth. The subject will be concerned with looking at modern economic theory from an historical perspective. Students will be expected to read original works as well as secondary literature.

Assessment

One 2-hour examination at the end of the semester (80%) plus one essay of approximately 2000 words.