Economic theories development(History of economic thought)

Petr Wawosz

Some useful information about subject

What is usually the subject about

• The subject is about history of economic thought, how economic thinking developed during time, from the beginning of the human existence to the present time.

• The subject gives list of economic theories, schools (people who have similar opinion), famous economists.

Abbreviation

• ETH = Economic Theories Development• HET = History of Economic Thought

• Both titles mean the same subject! The term „HET“ is used more often (in English).

Why to study the subject that concerns history?

• If we do not understand the past times we are not able to understand the present times.

• It is not necessary to discover something what had already discovered.

• It is not necessary to develop theories and opinions that had already developed.

• A study of the history of opinion is a necessary preliminary to the emancipation of the mind.

• Past theories give us inspiration for future research. Our ideas (thinking) are very often influenced by previous ones.

• It can be funny fascinating and adventurous.

Lectures

• Every Monday, 14.00-15.130, E227• First lecture: 30th September 2013• Last lecture: 16th December 2013

Lectures

• Participation on the lectures is voluntary, there is no obligation to attend lectures, no presence list.

• I do not intend only to lecture bud I give you some tasks connected with final exams (reading some prepared text and answering question connected to the text).

Structure of lectures

• Presentations (usually Power-Point)• Videos (usually from Youtube)• Discussing economics texts – preparation for

the exam• I do not concentrate on the history but on the

principle of economic thought, important questions of economic thought and important issues that was discussed during long history of man.

Literature

• Sandmo, Agnar 2011. Economics Evolving: a History of Economic Thought. Princeton University Press.

• Taylor, Overton H. 2011. A History Of Economic Thought . Literary Licensing.

• These books can be borrowed from library.

Literature on the IS (in study materials)

• See IS: Study materials – Learning materials.

Selected web sites

• http://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/ (for finding the site: „Archive for the History of Economic Thought“)

• http://www.economicsnetwork.ac.uk/teaching/Online%20Text%20and%20Notes/History%20of%20Economic%20Thought (for finding the site: „Online Text and Notes in History of Economic Thought“)

• http://web1.boisestate.edu/econ/lreynol/web/Het.htm (for finding the site: „History of Economic Thought by by R. Larry Reynolds“ or „online economics textbooks“)

• http://www.encyclopedia.com/doc/1G2-3045000336.html (for finding the site: „International Encyclopedia of the Social Sciences“ and „economic thought“).

Selected other sources

• www.econlib.org• http://eh.net• http://www.economicthought.net• www.mises.org• http://economistsview.typepad.com/

economics493/• http://frank.mtsu.edu/~eaeff/566/hoth.htm

Finishing of the course

• The course is finished by exam.• Exam:

- written: you get some economic text and question connected to the text. You have to answer the questions in time devoted for the exam (probably 90 minutes).- The answers can be written to the computer or on the paper.

• Details to the exam will be given at the end of winter term.

Finishing of the course

• I evaluate your answers, write you mail and suggest a grade (including grade „fail“).

• If you do not agree with grade or you fail, we meet and I give you another text or we will discuss more about first text.

Finishing of the course

• The exam will be passed in exam period (in January).

• The terms of the exam will be published in IS.• It is necessary to apply for the exam.

Sense of the exam

• Exam is the proof you are able to:- understand an economic text- think about economic ideas

Contact:

• E-mail: petr.wawosz@centrum.cz

• Office hours from 30th September 2013 till end of December 2013:Wednesday: 14.00 - 15.00, Praha, Estonská E324Thursday, odd weeks: 15.00 - 15.30., Most M09

• It is necessary to write me before your coming, The different time is possible to arrange after agreement.