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Language:Italian
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Textbooks:HARRY LANDRETH, DAVID C. COLANDER
History of Economic Thought, Bologna, Il Mulino (any edition) -
Learning objectives:The teaching aims at acquiring the logical tools deemed indispensable for understanding economic theory, also highlighting the pluralism of ideas in a context aimed at enhancing different visions.
EXPECTED LEARNING RESULTS
* KNOWLEDGE AND UNDERSTANDING:
At the end of the course, the student will be able to:
-recognize the peculiarities of the historical periods considered, identifying their schools of economic thought.
- refer to the aspects and particularities of the economic theories analyzed,
- use adequate and relevant terminology.
* ABILITY TO APPLY KNOWLEDGE AND UNDERSTANDING
At the end of the course, the student will be able to:
- identify the influences of economic theories in the historical development of modern and contemporary economic systems.
* COMMUNICATION SKILLS
At the end of the course the student will have acquired the communicative ability to expose and discuss, even critically, the thinking of economists and the theories of the major schools of thought analyzed.
*ABILITY TO LEARN
At the end of the course the student will have acquired autonomy in learning and in the development of knowledge to be used both for insertion in the working context and in the continuation of studies.
Learning skills are acquired and developed through participation, including interactive, in traditional classroom lessons.
*AUTONOMY OF JUDGMENT
At the end of the course the student will be able to formulate independent judgments with respect to what has been learned during the lessons.
The student will be able to understand economic theories, interpreting them in a critical key with respect to different historical moments.
The verification of these skills will be carried out during the exams. -
Prerequisite:Knowledge of the basic concepts of political economy is a prerequisite.
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Teaching methods:The teaching is divided into 48 hours of frontal teaching which will have for
subject theoretical topics developed by the teacher. -
Exam type:The verification of the students' preparation will take place through a
interview (oral exam) on the topics covered by the teaching. The evaluation will be expressed out of thirty.
The exam aims to ascertain the level of knowledge of the topics indicated in the exam program and verify that the student has acquired knowledge of the discipline, ability to make connections between historical periods and the corresponding economic thought, as well as clear and reasoned presentation skills.
The evaluation of the oral exam considers the following criteria:
• Failure to pass the exam: insufficient preparation;
• From 18 to 21: sufficient preparation in relation to learning the main fundamentals of the history of economic analysis. Sufficient ability to range in the connections between historical periods and economic schools of thought. Sufficient ability to identify the influences of economic theories in the historical development of modern and contemporary economic systems. Sufficient communication skills in exposing and discussing, even critically, the thinking of economists and the theories of the major schools of thought analyzed.Sufficient use of relevant terminology.
•From 22 to 24: fully sufficient preparation in relation to learning the main fundamentals of the history of economic analysis. The ability to range in the connections between historical periods and economic schools of thought is completely sufficient.
The ability to identify the influences of economic theories in the historical development of modern and contemporary economic systems is fully sufficient. The communicative ability in exposing and discussing, even critically, the thinking of economists and the theories of the major schools of thought analyzed is completely sufficient. Fully sufficient use of relevant terminology.
• From 25 to 26: good preparation in relation to learning the main fundamentals of the history of economic analysis.Good ability to range in the connections between historical periods and economic schools of thought. Good ability to identify the influences of economic theories in the historical development of modern and contemporary economic systems. Good communication skills in exposing and discussing, even critically, the thinking of economists and the theories of the major schools of thought analyzed. Good use of relevant terminology.
•From 27 to 29: very good preparation in relation to learning the main fundamentals of the history of economic analysis. The ability to range in the connections between historical periods and economic schools of thought is very good. The ability to identify the influences of economic theories in the historical development of modern and contemporary economic systems is very good. Very good communication skills in exposing and discussing the thinking of economists and the theories of the major schools of thought analyzed, even in a critical way. The use of the relevant terminology is very good.
•From 30 to 30 cum laude: excellent preparation in relation to learning the main fundamentals of the history of economic analysis. Excellent ability to range in the connections between historical periods and economic schools of thought. Excellent ability to identify the influences of economic theories in the historical development of modern and contemporary economic systems. Excellent communication skills in exposing and discussing, even critically, the thinking of economists and the theories of the major schools of thought analyzed.
Excellent use of relevant terminology.
Students will be able to access the exam sessions after registering online registration. -
Sostenibilità:The teaching of the history of economic analysis makes it possible to verify the economic value that has been attributed over time to natural resources and the environment.
This view has been influenced by economic theories and has taken on a different significance over the centuries.
The study of sustainability from the point of view of the history of economic analysis allows us to understand the cultural and social evolution of the community / man in the various eras. -
Further information:The teacher receives by appointment on Tuesdays from 11.00 to 13.00.
Write to: natascia.ridolfi@unich.it
to arrange an appointment, preferably a week in advance.
The teaching of the History of Economic Analysis analyzes the evolution of economic science from the pre-classical period up to the recent developments of the contemporary age.
The following themes will be addressed in more detail: pre-classical economics; classical and neoclassical economic thought; heterodox economic thought; recent developments in economic thought.
During the course the following topics will be addressed:
-Introduction to the history of economic thought. Economists and schools of thought considered. Methodological introduction. Why study the history of economic ideas? Correspondence between the "epochs" of theory and those of events.
- The pre-classical economy; Scholasticism, Mercantilism: bullionists and mercantilists, the role of precious metals, the doctrine of trade balance; aspects of mercantilist industrial policy; the "mechanism" of Hume.
- The origins. Birth of political economy as a project to transfer the research method of the exact sciences to the social sciences. The physiocratic school: Quesnay's Tableau économique and economic policy.
Classical economic thought. Adam Smith: the philosophical foundations of the Wealth of Nations; Compatibility of selfish interests: the role of the market and competition; the Smithian distinction between use value and exchange value, the theory of value as "commanded" labor; the division of labor and the accumulation of capital; theories of wages, rents, profits; a Smith growth model.
- J.B. Say, Smith's Interpretation and the Law of Outlets; Malthus and the Sage on the Population Principle; the theory of rent; the problem of the traffic of goods.
- David Ricardo: Essay on Profits; the theory of value; the problem of income distribution in a context of accumulation and growth.
- J. S. Mill and the decline of classical political economy.
- Karl Marx: capital as a social relationship; the theory of surplus value; the problem of the transformation from values to prices; the role of money; cyclical crises and the “trend laws” of the economic system.
- Panorama of economic thought up to the marginalists; the historical school; the "precursors": A. Cournot and J. Dupuit.
- The marginalists. S. Jevons, Theory of political economy, the subjective theory of value; consumer balance; first formulation of the first welfare economics theorem. Differences between Jevons' approach and that of the classics; C. Menger and the Austrian school.
- Léon Walras, Elements: Walras and the French liberal economic school; the model of general economic equilibrium in perfect competition: problems of existence, uniqueness, stability of equilibrium. Tatonnement as a process of convergence to equilibrium; hints to the contributions of applied and "social" economics.
- The neoclassical economy. Alfred Marshall Relationship with the classics; mathematics, historicism, evolutionism; the theory of value: a “Marshallian cross”, reconciliation of the classical and marginalist theory; business and industry; economies of scale and the role of competition; Sraffa's critique.
- Vilfredo Pareto and the new welfare economy: the ordinalist statute; the concept of Pareto optimum; the income curve; aspects of the sociological contribution.
- Keynes's General Theory; macroeconomics. A tract of monetary reform (1923). Consequences of the instability of the value of the currency. Treatise on money (1930) Critique of Say's law. General theory (1936) Critique of "classical" postulates. Role of economic policies.
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