Economic History: History of Economic Thought, 7.5 credits

About the course

The purpose of the course is to give you an understanding of how economic theories were established and developed from the 18th century onwards. The course also gives you the ability to analyse the relationship between different economic theories and to view their development in a social context.

The course has its starting point in the liberal thinkers of the 18th century such as Adam Smith, David Ricardo and Robert Malthus. Among other things, how the contribution of these theorists developed in interaction with the development of the industrial society will be discussed. Another topic of discussion is how the transformation of the industrial society has contributed to the emergence of new economic theories by among others Karl Marx and Joseph Schumpeter. The marginalist revolution introduced by economists such as W .S. Jevons, Carl Menger and Leon Walras with many followers, as well as the institutional school and more recent economic thinkers such as J .M. Keynes will also be dealt with.