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Introduction
Evaluation
Class Schedule
Cast of Characters
Selected Web Resources
HET Economists is a series of links done as a past group HET project. Robert Cissel and Kate Lyden were involved in this project.
The New School for Social Research offers good coverage and many links to other sites.
The Dead Economists Society site by Professor John McGinnis at Penn State focusses on classical liberal (free market) economists.
The Marshal Studies Bulletin focusses on Alfred Marshall.
Adam Smith once met Voltaire.. Read abput it here.
Searches using Google, Excite, Lycos and other engines will help you find specific sites dealing with individual economists. Make an effort to assess the quality of the site - who has developed and maintains it, where is it located, how comprehensive is it, etc.
Introduction: During the semester you will have the opportunity to immerse yourself in the character of a significant figure in the history of economic thought and, through that character, engage in a dialogue with other historical figures, addressing the central issues in the development of economic ideas. The understanding of your character will involve you not just with his ideas but also with the historical and cultural milieu within which he lived and wrote.
In addition, you will also come to have an appreciation of the central contributions of other key individuals in the history of economic ideas and develop an understanding of the chronology of economic thought.
The role playing environment we will create provides challenge and responsibility for you. The challenge is to develop an understanding of your character to such an extent that you will be able to effectively represent his views in a wide variety of discussions. The responsibility is to be adequately clear in the articulation of your figure's ideas so others in the seminar gain a solid understanding all the issues at hand.
In addition to the involvement with your own character, you will read the over view text for the course. Oser and Brue's The Evolution of Economic Thought is a general text that is arranged according to the schools of economic thought. This is a reasonable place to start with your character but you will want to go to other sources for additional background. We will generally pace the reading of the text over the semester and while it might not always tie directly to the class discussions, it will hopefully enhance the quality of the discussions over the semester.
You will also have the opportunity to serve as a discussion facilitator.
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Attendance and participation. Since this whole approach will work only if everyone makes a conscientious commitment to the class, attendance is key. Attendance involves two things; being there and actively participating in the class. (45% of the final grade.)
Two closed book exams based on material presented in class. The need to take the second exam will be based on class attendance. Three absences will earn you the obligation to take the second exam. We will schedule the first exam for Week 8. The second exam will be the end of the semester. (25% of the final grade.)
Three writing assignments (30% of the final grade).
1) A critical evaluation of the contributions of your character, set in a historical context; due March 4.
2) A jointly written paper with one or two other students addressing one of the thematic threads of the course; e.g.. a dialogue between your characters about trade, money, the role of technology in economic development, alternative views of human nature, etc.; due April 8.
3) Wild card assignment - your choice, due May 4. Students have used this opportunity to continue to write joint papers, submit original art, make videos, write and perform music and take other creative approaches to the assignment.
Final exam - optional, assuming good attendance and participation during the semester.
I am open to alternative weighting schemes if you suggest a rationale early in the semester and alternative assignments, if they are challenging and developmental for you.
Even though this is not a lecture based class you are expected to keep good class notes, based on the discussions. Exam questions will be based, in part, on class notes.
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Week 1: 2/1 Introduction to the course (one class)
Your assignment - visit the Eckerd library and see what primary and secondary sources there are covering your character. Begin to development a bibliography. Begin to read about your character if you have not already done so. You'll want to find biographical material. In addition to books, encyclopedia articles are a reasonable starting point. What is his primary writing? You should be able to get it from our library. In addition, do a web search to identify what resources are available to support your efforts during the semester.
Basic sources include:
Ref E. 176. P 55 Dictionary of American Biography
Ref DA 28. D 47 Dictionary of National Biography (British and European)
Ref HB 61. E 26 Economics Encyclopedia
Ref H 40. A 2 I 5 International Encyclopedia of the Social Sciences
Week 2: 2/5 Introduce each of the cast of characters
You'll want to prepare a brief (15 minute) first person presentation about your class persona. You should be prepared to answer general questions and to ask general questions of other people. Try to approach this introductory presentation in a way that engages others in your persona. We will videotape your introduction and you will have the opportunity to view it and receive feedback on your presentation.
** You should also prepare a one page fact sheet to hand out to each person in the class. This will help with note taking. You will prepare an appropriate fact sheet for each topic discussed during the semester.
2/8 Intro to HET, Text chapter 1. Introductions continue.
Week 3: 2/12 What is the source of wealth in a society, or what contributes to the wealth of nations. Different figures had very different ideas about this and those ideas changed significantly over time. Some people had very little to say about this in a direct way. If your persona did not directly address the idea, you should try to figure out the position that he would have held, based on the time, country and school of thought he associated with. This general approach applies to all questions.
Key figures here are going to be early mercantilists and classical economists. Others, such as Marx, the historicists and institutionalist dealt with wealth related issues. The first class this week can focus on the changing ideas associated with sources of national wealth and the second class can focus on wealth related issues you wish to raise. You should be prepared at the first class to identify these wealth related issues so every one knows the likely parameters of the Thursday class.
All characters/chronologically: even if your character is not directly involved in addressing wealth ideas you should be prepared to join in the discussion.
2/15 Text, chapter 2
Week 4: 2/19 What determines value and price? This is a central question in economic thought. Value can be determined by the usefulness of an item to the producer or possessor, or reflected only as a result of exchange. Some have argued value is determined by such specifics as the cost of production alone, others as reflecting the interaction of market forces. While initially value and price had distinct meanings, by the end of the 19th C they come to be used more interchangeably.
All characters, especially Adam Smith, the classical economists, marginalists and synthesizers. There are a number of useful secondary sources on this topic in the library. So as to spread the library resources, I'd appreciate it if you would limit yourself to three secondary sources checked out at a time. Of course, you should find all the primary sources on your persona that are available.
Critique of AS's ideas: The ideas on value determination changed over time and there are important contributions from all schools of thought. The marginalists and Alfred Marshall make important contributions. All the classical economists, including Marx, grappled with this issue.
2/22 Text, chapters 4,5,6
Week 5:2/26 What is the role of money in society and how does it influence price levels?
All characters/chronological: political economists have been concerned with the role, sources, uses and limitations of money from the time of their earliest writings. Money is often tied to determination of the price level. A central focus is the evolution of the quantity theory of money.
3/1 Text, chapters 7,8,15
Week 6: 3/5 What determines the distribution of output in a society? Distribution can reflect several things. Today we might focus on the size distribution of income as well as the functional distribution of income. Earlier in economic thought the emphasis was on the factor share distribution of income.
All characters/ Ricardo and Marx key.
3/8 Text, chapter 3
Week 7: 3/12 What role does trade play in economic relations? Here the emphasis is on international, rather than internal or domestic trade.
All characters from the mercantilists onward.
3/15 Text, chapter 12
Week 8: 3/19 How do we learn about economic affairs? What is the proper methodological approach to the study of economics? How did each of the economists we are studying come to the conclusions they did? What was their general analytical approach?
Methodological debate - historicists versus the classicists leading to the methodological synthesis of the 20th Century. We will ask Max Weber and Wm. Jevons to take a lead here. Even though they were not directly involved in the controversy, figures in their school were.
3/22 Text, chapter 11
Week 9: Spring Break (class optional)
Week 10: 4/5 Marx suggests the source of change is located in the productive force. Evaluate this argument. Marx is key. We will have to explore his theory of history and the ideal of dialectic materialism.
Text, chapters 9,10
Week 11: 4/11 Critically evaluate the idea that a harmony of interest underlies economic relationships. Classical versus socialists are central, although there is opportunity for all to enter, when we think of the concept of harmony of interest in an international and institutionalist context.
4/12 Text, chapters 13,14
Week 12: 4/16 What is the relationship between institutional and economic forces? Can economics be understood in the abstract or does it have to be understood in an institutional context. Institutionalists (Veblen) and Max Weber are central here. The historicists also enter this discussion in a key way.
4/19 Text, chapter 19. Continuation of previous discussion or on a contemporary political topic..
Week 13: 4/23 What causes the rise and fall of schools of thought? All characters.
4/26 What do you think of the Constitution of the United States?
Week 14: 4/30 How would you like to be remembered? Or presentations.
5/3 Continuation with remembrances
Week 15 5/7 Summary and review
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You can return to the economics home page. Comments about the course can be sent to Tom Oberhofer at oberhot@eckerd,edu
