Courses

History of Economic Theories

General

Course Contents

  1. Introduction.
  2. Beginnings of Economic Theory.
  3. The Wealth of Nations by Adam Smith.
  4. David Ricardo’s Principles of Political Economy.
  5. Marx’s Capital.
  6. The Structure of Classical Theory.
  7. The Structure of Neoclassical Theory.
  8. The General Theory of J. M. Keynes.
  9. Keynesian Economics.
  10. The Monetarism of M. Friedman.
  11. The New Classical approach.
  12. The Real Business Cycles Approach.
  13. The New Keynesian Approach.

Educational Goals

The purpose of the course is the presentation, analysis and critical evaluation of the various schools of economic thought starting with the mercantilists and the physiocrats and continuing with Smith and Ricardo. Also, Marx’s economics, classical approach and neoclassical economics, as well as Keynesian Economics and Monetarism of M. Friedman.

Upon successful completion of the course students will be able to:

  • Know the schools of economic thought in their historical path and dimension.
  • Understand the issues related to neoclassical economics, Keynesian Economics and M. Friedman’s monetarism.
  • Analyze and interpret the theories of mercantilists, naturalists, Smith and Ricardo.
  • Interpret the basic models of economic theories.
  • Evaluate and compose reports and analyzes that refer to topics in the history of economic thought.
  • Acquire the necessary skills to support and compare past and modern economic theories.
  • Develop the necessary knowledge and skills for further studies at postgraduate level.

General Skills

  • Working independently.
  • Team work.
  • Decision making.
  • Production of free, creative and inductive thinking.

Teaching Methods

  • In the classroom, face to face.

Use of ICT means

  • Basic software (windows, word, power point, the web, etc.).
  • Support of learning process through the electronic platform / e-class.

Teaching Organization

ActivitySemester workload
Lectures26
Practice Works13
Assignement (Essay writing)20
Independent Study66
Total125

Students Evaluation

Written final exams (60%) that may include:

  • Judgemental questions.
  • Short answer questions.
  • Comparative evaluation of theory elements.
  • True/False and Multiple Choice questions.
  • Applications exercises.

In each question, corresponding evaluation points are specified.
Optional assignment (Essay writing and presentation) corresponds to 40% of the final grade.

Recommended Bibliography

  1. RUBIN IL’JIC ISSAK, ΙΣΤΟΡΙΑ ΟΙΚΟΝΟΜΙΚΩΝ ΘΕΩΡΙΩΝ, Εκδόσεις Κριτική.
  2. ΧΟΥΜΑΝΙΔΗΣ Θ. ΛΑΖΑΡΟΣ, ΙΣΤΟΡΙΑ ΟΙΚΟΝΟΜΙΚΩΝ ΘΕΩΡΙΩΝ ΑΠΟ ΤΩΝ ΑΡΧΑΙΩΝ ΧΡΟΝΩΝ ΜΕΧΡΙ ΤΩΝ ΗΜΕΡΩΝ ΜΑΣ, Σύγχρονη Εκδοτική.