UNIVERSITY OF SCIENCE AND ARTS OF OKLAHOMA
ECONOMICS 3653

HISTORY OF ECONOMIC THOUGHT

FALL SEMESTER 2009 SYLLABUS

Course Information

Instructor: Dr. Erik Guzik     

Contact: eguzik@usao.edu

Office: 312 Troutt Hall   Phone: 574-1269     

Course Description

Within this course, we seek to explore the growth, development, and impact of economic thought.  We will treat the process of economic understanding as dynamic--a process defined in part by evolution and change.  We will understand economic ideas and concepts to be shaped by the societies in which they appear, necessarily moving in new, interesting, and often conflicting ways.  We will also examine how different (and at times competing) bodies of economic thought come into contact, interact, and react--influencing and pushing one another along long and complicated paths of growth and development.  

In short, we seek to study how new economic positions and outlooks (our understandings of economic processes) arise in reaction to particular economic and social conditions, including past products of human thought.  And of some importance, we seek to explore how the development of economic ideas, as much as any other process, contributes to conditions of social change.  We thus seek to understand from where current economic ideas come, and where they take us--and in so doing, develop the means to contribute in new ways to the further evolution and development of original economic thinking. 

Texts and Readings              

Readings of original texts and other works are available online via this syllabus.  You are encouraged--but certainly not required--to purchase an official text to accompany your readings.  In this spirit, the following works are suggested as possible texts to assist you in your intellectual efforts, the first two of which are available for purchase at the USAO Bookstore.  

Suggestions:

Teachings from the Worldly Philosophy, Robert Heilbroner.  Inexpensive text that contains an excellent selection of important readings, as well as insightful commentary from Heilbroner.   Highly recommended.

The Worldly Philosophers,  Robert Heilbroner, Seventh Edition.  A classic discussion of the great economic thinkers beginning with Adam Smith.  Highly recommended.

Other Excellent Possibilities:

History of Economic Thought, Harry Landreth and David Colander, Fourth Edition.  Good overview of major economic thinkers. 

A History of Economic Thought, Eric Roll.  Available through library reserve. 

Course Requirements

Readings and Class Discussion.  Assigned readings should be completed in preparation for class. 

Exams.  There will be two exams during the semester and a final exam during finals week.  Exams will consist of 3-4 essay questions on material presented and discussed in class and the readings.   

Presentation.  An in-class presentation on a school of economic thought of your choice, on a topic you find of interest.  A 2-3 page written description of your presentation is also required.

Course Grading

Class Discussion................15%

2 Midterm Exams…….........40%

Presentation and Paper...…20%

Final Exam……........…....…25%          

Course Outline

↓  Material Covered So Far   ↓

	Introduction
Introduction	The Importance and Impact of Economic Theory in Contemporary Society
	Absolutist and Relativist Positions
	Orthodox and Heterodox Thought

Part One	Pre-Modern Economic Thought
Ancient	The Earliest Known Economic Writings: The Code of Hammurabi (skim for discussion of economic activitities) Introduction to the Ancient Greek Thinkers: The Ancients Plato: The Republic, excerpts Aristotle: Politics, Book 1, Sec. II-X. Heilbroner's Analysis: Earliest Economic Thought (pp.1-10: read esp. for Heilbroner's introduction and comments)
The Scholastics and Other Pre-Moderns	Intro: The Scholastics Ibn Khaldun, An Introduction to History:  Attributes of Man Thomas Aquinas: The Summa Theologica, Questions 77 and 78. Heilbroner's Analysis: St. Thomas Aquinas (pp. 11-14) Martin Luther: Twenty-Seven Articles Respecting The Reformation Of The Christian Estate (excerpt)

Study Questions for Part 1

Study Questions for Part 2

                                                                                       Study Questions for Part 3

                                                                                    Study Questions for First Exam