Economics 210 - History of Economic Thought I

Institution:

Bard College

Subject:

Description:

GIS, STS A survey of the early history of the still-young science of economics, including Hume, Locke, Petty, and the age of mercantilism; the Physiocrats of 18th-century France, inventors of the first circular-flow analysis of the macroeconomy; the revolutionary work of philosopher Adam Smith in 1776; and the century of classical political economy that followed him in the Englishspeaking world, including the work of Thomas Malthus, John Stuart Mill, David Ricardo, and others who studied the virtues and vices of the market system and debated the relations of land, labor, and capital. At its maturity, the classical school gave rise to two very different attacks on existing politico-economic institutions: the socialist critique of Karl Marx in continental Europe and the Lockean critique of Henry George in the United States and England. This course focuses on the period up to the late 19th century, when classical political economy gave way to the "marginal revolution," which, applying themathematical insights of calculus to economic questions, focused more on subjective choice and less on political issues and institutions. Prerequisite: one economics course.

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.bard.edu

Phone Number:

(845) 758-6822

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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