316-311 Development of Neoclassical Economics

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

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.

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