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Econ 415: History of Economic Thought

Texas A&M University

Description:

While it important to know what is happening in the world of economy during the present day it is also important to know how we arrived to it. For this the thought process of economics in historic times must be read. As the basics of economics are enclosed in such historic strands of thoughts they must be professed to you to ensure a holistic learning of the subject of economics.

In courseware ECON 415 the following topics have been covered:

Survey of main strands of economic thinking from medieval times through the 20th century; Classical- Classical economics is considered the first modern school of economic thought. It was conceived around the 2nd half of the 17th century and lasted till the 2nd half of 18th century and. The end of Classical school of thinkers was marked with the beginning of the Neo-classical thought leaders.

1. Socialist- Socialist economics refers to the theories, hypothesis, methods laid by socialist economic thinkers. It is marked by produce developed by publicly owned manufacture centers.
2. Neoclassical- Neoclassical economics is marked by Micro-economics. It orients around topics like price structure of goods and services, income, output, distribution in markets via2 important factors supply and demand.,
3. Modern thinkers and the doctrine of the eras.