75904 - History of Economic Analysis

Learning outcomes

The course discusses the main approaches that have characterized the development of economic thought. At the end of the course the student is expected to have a solid grasp of economic theories in historical perspective.

Course contents

The course consists of two separate modules with different contents.

Module 1

Prof. Michele Alacevich

Monographic part

Economic development, democracy and markets: Albert O. Hirschman and the history of twentieth-century economic thought

The life and work of the great economist and social scientist Albert O. Hirschman will be the starting points for the discussion of a number of developments in 20th century economic theory, on issues such as the problem of economic development, the relationship between economic growth and democracy, the role of the welfare state in modern societies, the crisis and recovery processes in liberal market democracies, as well as the relationship between ethics and economics.

Course outline:

Week 1

Introduction

National power and international trade

International Political Economy

Week 2

Conflicts and economic growth

Development economics

Week 3

Economic growth and democracy

Economics and political science

Week 4

Wrap-up

 

Module 2

Prof. Salvatore Drago

Institutional part

Economic thought in historical perspective

Classes will discuss the main eras of economic thought, showing how economic theories have changed over time and how they are part of the broader cultural landscape of different historical periods. Fundamental theories and perspectives will be discussed, including ancient and scholastic economic thought, the principles and contradictions of mercantilism and physiocracy, the classical theory of Adam Smith, David Ricardo and Karl Marx, the tradition of civil economy in the eighteenth century European, the marginalist revolution, the thought of John Maynard Keynes and more recent developments.

Readings/Bibliography

MANDATORY READINGS

Michele Alacevich, Albert O. Hirschman. An Intellectual Biography, New York: Columbia University Press, 2021

Michele Alacevich e Anna Soci, Breve storia della disuguaglianza, Roma: Laterza, 2019

Michele Alacevich e Daniela Parisi, Economia politica. Un'introduzione Storica, Bologna: Il Mulino, 2009

ATTENTION: YOU MUST IN POSSESSION OF THE TEXTS BEFORE THE START OF LESSONS. WE DISCOURAGE THE USE OF ELECTRONIC VERSIONS

Other readings may be assigned depending on teaching needs.

Teaching methods

Frontal lectures and class discussions.

Assessment methods

At the end of each module you will take a written exam on the program of the module just completed. The average of the two exams will be recorded as the final grade.

The exams following the final at the end of Module 2 will be oral and will focus on the program of both modules.

Office hours

See the website of Michele Alacevich

See the website of Salvatore Drago