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Durham University

Faculty Handbook 2022-2023

Module Description

Please ensure you check the module availability box for each module outline, as not all modules will run each academic year.

Department: Economics and Finance

ECON3051: HISTORY OF ECONOMIC THOUGHT

Type Open Level 3 Credits 20 Availability Available in 2022/23 Module Cap Location Durham

Prerequisites

  • Macroeconomics (ECON2011) AND Microeconomics (ECON2021) OR Economic Theory (ECON****)

Corequisites

  • None.

Excluded Combination of Modules

  • None.

Aims

  • To develop knowledge of the schools of thought in the history of economics since Classical Economics, and to examine the methodological criteria by which analytical or scientific advances in the discipline may be determined. The module also provides students with the opportunity to participate in student-centred learning drawing on recent research. This module builds on the knowledge and understanding gained in Level 2 core modules.

Content

  • The module focuses on Classical economics, covering the literature from Smith to Cairnes and including such topics as value, distribution, money, trade, economic growth and public finance as well as economic policy issues.
  • After this the module turns to the writing of particular individual economists: Marx, Jevons, Menger, Wakas, Wieser, Bohm-Bawerk, Keynes .
  • The module concludes with a discussion of theories of the history of science and their applications to economics.

Learning Outcomes

Subject-specific Knowledge:
  • understanding the historical development of analytical techniques in economics
Subject-specific Skills:
  • using the history of ideas as an essential part of economic reasoning
Key Skills:
  • Reasoning abilities
  • Skills in assessing alternative ideas, and the criteria used in accepting or rejecting economic arguments, theories or theoretical systems
  • Mathematical skills will be enhanced by examination of the gradual refinement of mathematical techniques in economics.
  • Students' skills in writing and presenting their economic knowledge

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lectures and tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of one piece of written work. Summative assessment is by means of a written examination and a written assignment.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 22 1 per week 1 hour 22
Tutorials 8 Fortnightly 1 hour 8
Preparation and Reading 170
Total 200

Summative Assessment

Component: Examination Component Weighting: 60%
Element Length / duration Element Weighting Resit Opportunity
One written examination 2 hours 100%
Component: Assignment Component Weighting: 40%
Element Length / duration Element Weighting Resit Opportunity
One written assignment 2500 words max 100%

Formative Assessment:

One piece of written work of not more than 1500 words.


Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University



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