73504 - History of Economic Thought (6 Ects)

Learning outcomes

This course is designed to introduce students to the main schools of economic thought and the intellectual context in which each school thrived.

At the end of the course students will be able to:

-          understand the main schools of economic thought;

-          grasp the main theoretical issues debated;

-          connect economic theories, economic systems and economic policies.

Course contents

Part I - Birth and establishment of a new discipline: from the Scholastics to the classics
- From the Scolasticism to the Mercantilism
- Mercantilist commercial and monetary theories
- Forerunners of Classical Political Economy: W. Petty; D. North, B. Mandeville, P. Boisguillebert, R. Cantillon
- The laissez-faire Revolution : Quesnay and the physiocrats
- Galiani and the Italians
- Adam Smith: from the Theory of Moral Sentiments to the Wealth of the Nations and return
- Beyond Smith: J.B Say and J. Bentham
- T. Malthus and D. Ricardo: from the Theory of Rent to the Labour Theory of value

 Part II. - The development of economic thought during the 19th and 20th centuries
- Marx and the Critique of Political Economy

- J. Stuart Mill's Synthesis
- Forerunners of Marginalism in Englans, France and Germany
- The Triumph of Utilitarianism and the Marginalist Revolution: S. Jevons; C. Menger; L. Walras
- English Neoclassical Economists: A. Marshall and Pigou; Sraffa's criticism of the Marshallian theoretical system
- Neoclassical Theory in USA, Sweden and  Austria
- " The Years of High Theory": from J. Schumpeter to J.M Keynes
- After Keynes: Neo-Keynesians, Monetarists; Post-Keynesians.

Readings/Bibliography

E. Screpanti - S. Zamagni, Profilo di storia del pensiero economico. Terza edizione, Roma, Carocci, 2004

Part I: I volume: pp. 21-136.

Part II: I volume: pp. 150-161; 188-249; 253-269; 273-292; 299-303; 315-341; 365-370; II volume: pp. 28-39; 162-169; 175-199.

Slides provided by the teacher, included in the platform www.moodle.unibo.it

Teaching methods

Assessment methods

Written exam

Teaching tools

Office hours

See the website of Massimo Fornasari