ECO2004H1S The History of Economic ThoughtThis course will focus on the evolution of economics in the first six decades of the twentieth century, a period after which many of the newly developed methods of analysis are still often in use and hardly history. After an introduction, it will begin with lectures on economics after the diffusion of the so-called marginal revolution - the economics of Alfred Marshall, Knut Wicksell and Irving Fisher. It will continue discussing topics/problems arising from this corpus - e.g. increasing returns and the imperfect competition 'revolution' in microeconomics; the Keynesian 'revolution' in macroeconomics; capital theory and business cycle theory in the interwar period - and these deveolopments themselves - e.g. the neoclassical synthesis in the post-war period. Depending on student interests it will consider some of the 'applied' fields - international economics, econometrics. The economists covered will include Allyn Young, Joan Robinson, E.M. Chamberlin, A.C. Pigou, D.H. Robertson, J.M. Keynes, Friedrich Hayek, Lionel Robbins, J.R. Hicks, Abba Lerner, James Meade, Nicholas Kaldor, Roy Harrod, Evsey Domar, Paul Samuelson, Milton Friedman, Don Patinkin.
Section L0101, Winter 2007–08Instructor: Allan Hynes
Delivery Method & Instructions: In Person Location: TC 24