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History of Economic Thought

Code 12424
Year 1
Semester S2
ECTS Credits 6
Workload OT(15H)/TP(30H)
Scientific area Economics
Entry requirements No applied.
Mode of delivery The learning process combines lectures and debate-oriented sessions based on assigned readings, with independent study, individually or in group. Students will be required to attend the scheduled lectures and debate-oriented sessions. Readings should be completed before class. Everyone will be expected to be prepared to actively participate in the discussion and to answer questions about the readings or lectures. The learning process is supported by e-learning activities and online resources, as well as a close contact with instructor.
Learning outcomes 1. Understand the importance of the study of the History of Economic Thought and the economic problem as a distinct object of study and its methods;
2. Understand the emergence and the evolution of alternative schools of economic thought, in particular classical, marginalist, neo-classical and Keynesian perspectives;
3. Discuss the relationships between economic thought and current societal challenges, confronting the premises and the arguments of alternative theories;
5. Demonstrate capacity to problematize, produce well-informed arguments and critical thinking;
6. Work independently and cooperatively, demonstrating initiative, self-organization and time-management;
7. Communicate effectively both in written and speaking.
Syllabus 1. Pre-Classical Economics
2. Classical Economics
3. Marx and the Socialists
4. The Marginalist Revolution
5. Keynes and Reactions to Keynes
6. Is Economics a Moral Science?
7. Mathematisation of Economics: Developments and limitations
8. The Clash in Modern Economics: Keynes, Hayek and Business Cycles
9. Environment in History of Economic Thought
10. Inequality and Poverty in History of Economic Thought
11. Economics, Science and Power
Main Bibliography Compulsory reading
SANDELIN, TRAUTWEIN and WUNDRAK, 2015. A Short History of Economic Thought, 3 ed.,
Complementary readings
KURZ, Heinz D., 2016. Economic Thought: A Brief History, New York, Columbia University Press,
BACKHOUSE, Roger. 2002. The Penguin History of Economics, London, Penguin Books. DGE
Library (EG-5.3.1/14): Prologue: 1-8 and Chapters: 4-14.
The History of Economic Thought Website:
A reading list of texts announced in the course scheduling and description made available on Moodle.
Teaching Methodologies and Assessment Criteria The module uses various forms of assessment to evaluate different skills and abilities. The Critical Review and Seminar aim at involving students to research practices, in particular to evaluate their capacity to organise work, readings skills and perform under acute time and resource constraints. These forms of assessment and the Test also permit to evaluate students’ capacity to grasp concepts, to apply theories, to structure logical answers, to mount reasoned and critical arguments, to draw conclusions and economic policy implications, and communicate effectively in writing.
Language Portuguese. Tutorial support is available in English.
Last updated on: 2022-06-15

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