Economics 408

ECON 408: The History of Economic Thought

Prerequisite: ECON 205 and ECON 206

Credit Hours: (3)

Economic thought studied in relation to: the environment of the contributor, historical perspective of the contribution and the part the contribution played in shaping contemporary economic thought.


Detailed Description of Content of the Course

Topic Outline


1. Method and Scope of Course
2. Importance of Economic Thought
3. The Beginnings
4. Commercial Capitalism and Its Theory
5. The Founders of Political Economy
6. The Classical Economists
7. Marx
8. The Transition from Classicism
9. Modern Thought


Detailed Description of Conduct of the Course

The following teaching strategies will be employed:


Lecture, class discussions, oral presentations. Writing: Students keep a journal that records their perceptions/thoughts concerning the reading assignments and class discussion.


Goals and Objectives of the Course

1. Demonstrate knowledge of methodology and philosophy as they relate to economic thought.
2. Understand what constitutes "theoretical perspective" and "school of thought".
3. Demonstrate a knowledge of the major tenets of each school of thought and economist studied.
4. Explain how each school was influenced by the social, political, and economic conditions that preceded its emergence.
5. Compare and contrast the various theoretical perspectives discussed.
6. Improve oral and writing skills


Assessment Measures

  • Test I 20 Points
  • Test II 20 Points
  • Final 20 Points
  • Journal, Attendance, and Participation 40 Points


Other Course Information


Review and Approval

Date Action Reviewed by
December 2004 Made alterations to syllabus N. Hashemzadeh, Chair
Revised 4/13/09 Charles Vehorn
April 16, 2012 Revised