Syllabus (ECON 105)
7
HISTORY OF ECONOMIC THOUGHT ECON 105 SPRING 2013; 8-9:30 TTH Instructor: Joseph W.H. Lough CNN: 22525 Units/Credits: 4 Course Location: 390 HEARST MINING email: [email protected] Office phone: 510-219-6569 Office Hours: MW 9-12, 697 EVANS Course Description The university catalogue describes ECON 105 as “a survey of the theories of major economists from Adam Smith to Keynes.” This means that for most of the course we will be reading “classical” economists and economic theory. Yet, we shall also be interested in exploring both the origins and the issue of classical economics; in particular the Methodenstreit, or methods controversy, that arose between the German Historical School and the Austrian Marginal School in the 1890s and the wide range of economic thought representing neoclassical economics. We will conclude our course with Lord Keynes and his attempt to reintroduce historical, social and political, considerations into the lexicon of neoclassical economic thought. Learning Goals As part of Berkeley's Undergraduate Student Learning Initiative (USLI), the Economics Department has developed learning goals for the Economics major. (See http://econ.berkeley.edu/undergrad/home/learning-goals.) The specific learning goals which this course aims to achieve are: 1. To facilitate critical thinking by showing students how to compare arguments and identify and understand the role of assumptions. 2. To cultivate problem-solving skills to solve problems without clear solutions and to recognize when problems with clear solutions may help them address problems without clear solutions. 3. To show students how to recognize and reflect critically on the ways that historical processes shape economic theory and the ways that economic theory shapes historical processes. 4. To cultivate communication skills by helping students communicate clearly and effectively about economic issues, formulate and support written arguments, and present arguments orally. 5. To help students develop lifelong learning skills working with information databases, primary data sources, and understanding economic news. This Syllabus While students may rely upon this syllabus for all readings and assignments, they should also be aware that unforeseen contingencies may require that we alter the syllabus from time to time. Students are therefore encouraged to log onto and consult the syllabus on bSpace at regular intervals (at least three times weekly).
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Transcript of Syllabus (ECON 105)
HISTORY OF ECONOMIC THOUGHT
ECON 105
SPRING 2013; 8-9:30 TTH
Instructor: Joseph W.H. Lough CNN: 22525 Units/Credits: 4 Course Location: 390 HEARST MINING email: [email protected] Office phone: 510-219-6569 Office Hours: MW 9-12, 697 EVANS Course Description The university catalogue describes ECON 105 as “a survey of the theories of major economists from Adam Smith to Keynes.” This means that for most of the course we will be reading “classical” economists and economic theory. Yet, we shall also be interested in exploring both the origins and the issue of classical economics; in particular the Methodenstreit, or methods controversy, that arose between the German Historical School and the Austrian Marginal School in the 1890s and the wide range of economic thought representing neoclassical economics. We will conclude our course with Lord Keynes and his attempt to reintroduce historical, social and political, considerations into the lexicon of neoclassical economic thought. Learning Goals As part of Berkeley's Undergraduate Student Learning Initiative (USLI), the Economics Department has developed learning goals for the Economics major. (See http://econ.berkeley.edu/undergrad/home/learning-goals.) The specific learning goals which this course aims to achieve are:
1. To facilitate critical thinking by showing students how to compare arguments and identify and understand the role of assumptions.
2. To cultivate problem-solving skills to solve problems without clear solutions and to recognize when problems with clear solutions may help them address problems without clear solutions.
3. To show students how to recognize and reflect critically on the ways that historical processes shape economic theory and the ways that economic theory shapes historical processes.
4. To cultivate communication skills by helping students communicate clearly and effectively about economic issues, formulate and support written arguments, and present arguments orally.
5. To help students develop lifelong learning skills working with information databases, primary data sources, and understanding economic news.
This Syllabus While students may rely upon this syllabus for all readings and assignments, they should also be aware that unforeseen contingencies may require that we alter the syllabus from time to time. Students are therefore encouraged to log onto and consult the syllabus on bSpace at regular intervals (at least three times weekly).
ECON 105 History of Economic Thought (rev. 1 2013-01-25) LOUGH – Spring 2013 Page 2 Course Materials The following books are available for purchase at the usual outlets. Some of the following texts may be available on line, some of them for free. The remainder of the texts not listed below are available under resources on bSpace. Required Texts Medema, Steven G. and Warren J. Samuels, Editors. The History of Economic Thought: A Reader. London/New York: Routledge, 2003. ISBN-13:978-0-415-20551-1 Menger, C. Principles of Economics. Terra Libertas Limited. ISBN-13: 978-1908089083 Keynes, JM. General Theory. CreateSpace. ISBN-13: 978-1448673025 Arrighi, G. The Long Twentieth Century. Verso. ISBN-13-978-1-84467-304-9 Malthus, T. Essay on the Principle of Population. Oxford UP. ISBN-13: 978-0192837479 Hegel, GWF. Philosophy of Right. Cambridge UP. ISBN-13:0521348881 Marx, K. Capital. Volume 1. Penguin Classics. ISBN-13: 978-0140445688 Smith, A. Wealth of Nations. University of Chicago P. ISBN-13: 978-0226763743 Ricardo, D. Principles of Political Economy and Taxation. Dover. ISBN-13: 978-0486434612 Course Requirements Under the conviction that scholarship is a collective venture (even when we think we are conducting it alone), students will be expected to actively participate in discussions and presentations (whether or not they are the presenters). For our purposes, emailing, on-line chatting, and texting do not constitute active participation. More than two unexcused absences may invite being dropped from the course. Attendance is not optional. Students are expected to have read the assigned readings and to be ready to share questions, interpretations, challenges, alternatives, etc. to the positions presented by the authors. Electronic Media: Unless a student submits a written, signed and dated permission slip from a medical or learning specialist, students may not take notes on computing devices during lecture. Students who receive permission to use a computing device must turn off the device’s WiFi and Bluetooth technology. Students discovered using social media during lecture will be docked five points for each infraction. Written assignments (i.e., mid-term, presentation summary, final paper) must be type-written, appropriately formatted, with the course name, student name, date, and assignment clearly visible. Assignments must be submitted on bSpace electronically. Presentation: Before Midnight, January 25, students will select and rank their top three choices for presenting. Based on their selections, students will be broken down into teams of between 4 and 5 students. SHOULD STUDENTS OVERSUBSCRIBE OR UNDERSUBSCRIBE FOR A PRESENTATION, THEY WILL BE RANDOMLY ASSIGNED FOR THE UNDERSUBSCRIBED PRESENTATIONS. Prior to their presentation, presentation teams will meet with me during my office hours to discuss their project. ANY MEMBER OF THE TEAM NOT PRESENT WILL BE DOCKED 5% FROM HIS OR HER PRESENTATION GRADE. Team members will be responsible for collaborating together on a presentation, not to exceed fifteen minutes, during which they will (1) identify the problem the author(s) are addressing; (2) the position against which the author(s) is/are arguing; (3) the author(s) solution to the problem. PRESENTERS WILL
ECON 105 History of Economic Thought (rev. 1 2013-01-25) LOUGH – Spring 2013 Page 3 BE DOCKED 1% FOR EVERY MINUTE OVER 15 MINUTES. PRESENTERS MUST NOT SUMMARIZE THE AUTHOR(S) POSITION. PRESENTERS MUST PRESENT THEIR AUTHOR(S) “SOCRATICALLY,” I.E., BY IDENTIFYING THE QUESTION THE AUTHOR(S) ARE RAISING AND ENGAGING THEIR CLASSMATES OVER THIS PROBLEM. Each student must then submit his/her own 5-page paper: (1) identify the problem the author(s) are addressing; (2) the position against which the author(s) is/are arguing; (3) the author(s) solution to the problem. The paper must not summarize. Final: Students must visit me during office hours prior to the Spring Break to discuss the two economists they intend to focus on in their final paper. Students will present to their assigned Reader a bibliography of works they intend to use writing their final paper no later than week 14. In their final paper: (1) students will identify a problem common to both economists; (2) identify how this problem arose in response to historical changes; (3) critically reflect on how well (or poorly) the economists grasp and respond to these changes; and (4) identify the solutions that each economist settles upon to this problem; and (5) state how they would revise these solutions to make them more adequate. STUDENTS WHO FAIL TO SUBMIT A BIBLIOGRAPHY IN A TIMELY MANNER WILL LOSE 5% FROM THEIR BIBLIOGRAPHY GRADE. STUDENTS WHO DO NOT MEET AND DISCUSS THEIR FINAL PAPER WITH ME BEFORE SPRING BREAK WILL LOSE 5% FROM THEIR FINAL PAPER GRADE. STUDENTS WHO FAIL TO SUBMIT THEIR FINAL PAPER IN A TIMELY MANNER WILL LOSE 5% FROM THEIR FINAL PAPER GRADE. Plagiarism The University of California, Berkeley, its faculty and its students pride themselves on the standards of excellence we have set for ourselves and attempt daily to match up to. Among these standards of excellence are originality of scholarship and academic integrity. To help maintain these standards the students, administration, and faculty have established and continue to enforce severe penalties for students and faculty who represent someone else’s statements, research, or ideas as their own. If you are discovered to have plagiarized, you will receive a summary “F” for the assignment and will be referred for further investigation to Student Judicial Affairs. If you are unsure what constitutes plagiarism, please consult document “Tips for Avoiding Plagiarism” posted on the following address: http://students.berkeley.edu/files/osl/Student_Judicial_Affairs/TipsForAvoidingPlagiarism.pdf. The University of California, Berkeley, students, faculty, and administration also prohibit cheating, conveying false information, fabricating or altering information, alteration of University documents, and rude conduct toward other students, faculty, or administrators. Evaluation Criteria Attendance 20% Participation 10% Presentation 10% Presentation Paper 10% Bibliography 10% Take-Home Midterm 20% Final Paper 20%
ECON 105 History of Economic Thought (rev. 1 2013-01-25) LOUGH – Spring 2013 Page 4 Your final grade will be based on your cumulative points, not on a curve. The maximum number of points you can earn for the course is 100. I will be using the following conversion from number to letter grade: A 93 and> B- 80-82.9 D+ 67-69.9 A- 90-92.9 C+ 77-79.9 D 63-66.9 B+ 87-89.9 C 73-76.9 D- 60-62.9 B 83-86.9 C- 70-72.9 F below 60 Course Calendar
PART ONE: THE REVOLUTION
WEEK ONE: PRE-CLASSICAL THOUGHT
Date Title Assignment (completed by date)
January 22 Introduction; Gymnasium “on a Stick”
Read: Aristotle, Politics and Nichomachean Ethics in Medema and Samuels; Plato, Gorgias on bSpace; Plato, Republic on bSpace; Summa Theologica in Medema and Samuels; I Kant, Prolegomena on bSpace;
January 24 The Birth of Economic Rationality
Read: Lough, “Disembodiment and the sublime,” bSpace; Locke, Quesnay, and Mandeville in Medema and Samuels; PRESENTATION
WEEK TWO: THE GEOGRAPHY OF CAPITALISM: ITALY
Date Title Assignment (completed by date)
January 29 The Three Hegemonies of Historical Capitalism
Read: G Arrighi, Long Twentieth Century, chap. 1, The Three Hegemonies of Historical Capitalism; PRESENTATION
January 31 The Genoese Cycle Read: G Arrighi, Long Twentieth Century, chapter 2, pp. 86-129; PRESENTATION
WEEK THREE: THE GEOGRAPHY OF CAPITALISM: HOLLAND & GREAT BRITAIN
Date Title Assignment (completed by date)
February 5 The Dutch Cycle Read: G Arrighi, Long Twentieth Century, chapter 2, pp. 130-162; PRESENTATION
February 7 The British Cycle Read: G Arrighi, Long Twentieth Century, chapter 3, pp.
163-200; PRESENTATION
ECON 105 History of Economic Thought (rev. 1 2013-01-25) LOUGH – Spring 2013 Page 5
WEEK FOUR: “THE SOURCE OF ALL VALUE”
February 12 Productive Powers Read: A Smith, Wealth of Nations, Book 1, chaps. 1-5; PRESENTATION
February 14 The Source of all Value
Read: A Smith, Wealth of Nations, Book 1, chaps. 6-8; PRESENTATION
WEEK SEVEN: BEYOND NECESSITY
Date Title Assignment (completed by date)
March 12 Classical Political Economy
Read: K Marx, Capital, vol. I, chaps. 1-2; PRESENTATION
March 14 Civil Society Read: K Marx, Capital, vol. I, chaps. 3-4; PRESENTATION
MID-TERM ANSWERS MUST BE SUBMITTED VIA BSPACE MESSAGES TO YOUR READER NO LATER THAN 11:55 PM MARCH 15
WEEK FIVE: PRICE
Date Title Assignment (completed by date)
February 19 The Orders of Traditional Society
Read: D Ricardo, Principles, chaps 1-5: PRESENTATION
February 21 Early Contests Read: D Ricardo, Principles, chaps 24, 30-32; PRESENTATION
WEEK FIVE: POPULATION
Date Title Assignment (completed by date)
February 26 Containing Working Bodies
Read: T Malthus, Essay on the Principle of Population, chapters 1-6; PRESENTATION
February 28 The Ethics of Suffering Read: T Malthus, Essay on the Principle of Population, chapters 16-19; PRESENTATION
WEEK SIX: BEYOND MATERIALISM
Date Title Assignment (completed by date)
March 5 Measuring Value Read: J Bentham, J-B Say, and JS Mill in Medema and Samuels; PRESENTATION
March 7 A German Adam Smith
Read: GWF Hegel, Civil Society on bSpace; PRESENTATION
MID-TERM QUESTIONS POSTED ON BSPACE AT 11:55 PM MARCH 8
ECON 105 History of Economic Thought (rev. 1 2013-01-25) LOUGH – Spring 2013 Page 6
WEEK EIGHT: THE METHODENSTREIT
Date Title Assignment (completed by date)
March 19 A very complex set of conditions
Read: G v Schmoller, Class Conflicts in General on bSpace; PRESENTATION
March 21 Freedom and Necessity
Read: C Menger, Principles of Economics, chaps 1 and 2, part 1; PRESENTATION
WEEK TWELVE: THE END OF THE METHODENSTREIT
Date Title Assignment (completed by date)
April 2 The Historical School Read: M Weber, “Objectivity” in the Social Sciences, pp. 49-85 on bSpace; PRESENTATION
April 4 The Anti-Historical School
Read: M Weber, “Objectivity” in the Social Sciences, pp. 85-113 on bSpace; PRESENTATION
WEEK THIRTEEN: CAETERIS PARIBUS
Date Title Assignment (completed by date)
April 9 All Desires and Their Margins
Read: A Marshall, Principles of Economics, Bk. 5, chaps 1-3; PRESENTATION
April 11 Why Monopolies don’t monopolize
Read: A Marshall, Principles of Economics, Bk. 5, chaps 5, 14-15; PRESENTATION
SUBMIT BIBLIOGRAPHY TO YOUR READER ON BSPACE MESSAGES NO LATER THAN 11:55 PM APRIL 12
WEEK FOURTEEN: THE RETURN OF THE POLITICAL
Date Title Assignment (completed by date)
April 16 Where politics disappear
Read: Jevons, Walrus, and v Böhm-Bawerk in Medema and Samuels; PRESENTATION
April 18 The vengeance of the political
Read: C Schmitt, Concept of the Political on bSpace; PRESENTATION
WEEK FIFTEEN: ACKNOWLEDGING HISTORY
Date Title Assignment (completed by date)
April 23 Thinking Economically about the Political
Read: JM Keynes, General Theory, chaps. 1-3; 8-10; PRESENTATION
April 25 Is Democracy Necessary?
Read: JM Keynes, General Theory, chaps. 11-13,18; PRESENTATION
WEEK SIXTEEN: THE FUTURE OF ECONOMICS
Date Title Assignment (completed by date)
April 30 Revenge of the neoclassicals
Read: J Viner, Who Paid for the War on bSpace; PRESENTATION
ECON 105 History of Economic Thought (rev. 1 2013-01-25) LOUGH – Spring 2013 Page 7
May 2 Post-Democratic Economic Theory
Read: F Knight, Ethics and Economic Reform on bSpace; PRESENTATION
WEEK SIXTEEN: READING, REVIEW, AND RECITATION
TBA
WEEK SEVENTEEN: FINAL PAPER DUE WEDNESDAY, MAY 16, 2012 11:55P
