Andrew Parkes' History of Economic Ideas Assignments Page

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Course Assignments:

Week 16

May 16, 2007    FINAL EXAM - ALL CHAPTERS COVERED

Week 15

May 7, 2007    Chapter 16: Monetary Economics

• John Gustav Knut Wicksell
  • Price Level Changes
  • Implications for Policy
  • Imperfect Competition

May 9, 2007    Chapter 16:  Monetary Economics continued

• Irving Fisher
  • Theory of Interest
  • Quantity Theory of Money
• Ralph George Hawtrey - Discretionary Monetary Policy

May 11, 2007    Chapter 17:  Imperfect Competition

• Chamberlin and Robinson - Monopolistic Competitition and Monopsony

Week 14

April 30, 2007     Catch-up Day

May 2, 2007    Chapter 15:  Alfred Marshall

• Partial Equilibrium Analysis
• Ceteris Paribus assumption created!
• Law of Demand
  • Ratio of the Marginal Utilities per dollar
  • Substitution and Income Effect

May 4, 2007    Chapter 15:  Alfred Marshall - Final handed out

• Consumer Surplus
• Elasticity of Demand
• Supply: Immediate, Short Run and Long Run
• Equilibrium
• Distribution of Income
  • Wages
  • Interest
  • Profits, Rent, Quasi-Rent
• Increasing Cost, Decreasing Cost and Constant Cost Industries

Week 13

April 23, 2007  Chapter 13:  Marginalist School - Part Deux

• Carl Menger
  • Value Theory
  • The Theory of Imputation
• Friedrich von Wieser
  • Exchange Value versus Natural Value
  • Opportunity Costs
• Euren von Bohm-Bawerk
  • Theory of Interest
  • Other Views

April 25, 2007    Chapter 14:  The Marginalist School - Edgeworth

• Francis Y. Edgeworth
  • Indifference Curves and Exchange
  • Duopoly Theory
  • Marginal versus Average Product
• Jacob Viner - Cost Curves

April 27, 2007    Chapter 15:  Alfred Marshall

• John Bates Clark
  • Marginal Productivity Theory of Distribution
  • Ethical Implications
• Alfred Marshall
• Life and Method
• Utility and Demand

Week 12

April 16, 2007  Chapter 13:  Marginalist School - Part Deux

• Test Corrections

April 18, 2007    Chapter 13:  Marginalist School - Part Deux

• William Stanley Jevons
  • Gambling and Expected Values
  • Expected Utility

April 20, 2007    Chapter 13:  Marginalist School - Part Deux

• William Stanley Jevons
  • Expected Utility
  • The Equimarginal Rule
  • Theory of Exchange
  • Jevon's on Labor
  • Other Topics

Week 11

April 9, 2007  Chapter 12:  Marginalist School - Forerunners

• The Tenets, Lasting Contributions, etc.
• Antoine Augustin Cournot
  • Cournot's Theory of Monopoly
  • The Cournot Duopoly

April 11, 2007    Chapter 12:  Marginalist School - Forerunners

• Antoine Augustin Cournot - continued
  • Cournot's Theory of Monopoly
  • The Cournot Duopoly
• Jules Dupuit
  • Marginal Utility and Demand
  • Consumer Surplus
  • Monopoly Price Discrimination
• Johann Heinrich Von Thunen
  • Location Theory 
  • Marginal Productivity

April 13, 2007    Chapter 13:  Marginalist School - Part Deux

• William Stanley Jevons
  • Value Theory
  • Other Topics and Public Policy
• Carl Menger
  • Value Theory
  • The Theory of Imputation

Week 10

April 2, 2007  Chapter 10:  Marxian Socialism

• Chapter 10:  Marxian Socialism
• Biographical Details

April 4, 2007    Chapter 10:  Marxian Socialism

• Chapter 10:  Marxian Socialism

April 6, 2007    Test III: Chapters 7 - 10

Week 9

March 26, 2007  Chapter 8: John Stuart Mill

• John Stuart Mill - his Dad, James
• Production
• Distribution 
• Mill on the Wages Fund
• Exchange
• The Law of International Value

March 28, 2007  Chapter 9:  The Rise of Socialist Thought

• John Stuart Mill continued
• Mill on the Wages Fund - revisited
• Model of Joint Products
• For Reading: Dynamics of the Economy
• On Government
• Final Remarks on Mill
• Chapter 9: Historical Background
• Types of Socialism: Utopian, State, Christian, Anarchism, Marxian, Revisionism, Syndicalism, Guild Socialism and Communism,

March 30, 2007  Chapter 9:  The Rise of Socialist Thought continued

• Types of Socialism (continued): Utopian, State, Christian, Anarchism, Marxian, Revisionism, Syndicalism, Guild Socialism and Communism,
• Commonalities of Socialism, Whom did socialism seek to benefit?
• Valid in its Time, Tenets that became lasting contributions
• Henri Saint-Simon
• Charles Fourier
• Simonde De Sismondi
• Robert Owen
• Louis Blanc
• Charles Kingsley

Week 8

March 19, 2007  Finish Chapter 7: David Ricardo and Begin Chapter 8: Jeremy Bentham

• Chapter 7: David Ricardo
• Policy Implications
  • The Theory of Comparative Costs
• Ricardo on Unemployment
• Assessment
• Norman Borlaug - More recently

March 21, 2007  Chapter 8: Bentham and Say 

• Chapter 8: Jeremy Bentham
• Utilitarianism
• Diminishing Marginal Utility
• Implications of Bentham's Ideas, Criticisms and Legacy
• Jean-Baptiste Say
• Value Theory, Costs of Monopoly and Entrepreneurship
• Say's Law of Markets

March 23, 2007  Chapter 8: Nassau William Senior and John Stuart Mill

• Free Quiz Day
• Senior: Positive Economics
• Senior's Four Propositions
• Abstinence
• Productive Labor
• Policy Positions
• John Stuart Mill
• Life and Influences

MARCH 12 - 16, 2007     SPRING BREAK - ENJOY!!!

Week 7

March 5, 2007  Chapter 7: David Ricardo

• Chapter 7: David Ricardo
• Biographical Details
• The Currency Question
• The Theory of Diminishing Returns and Rent - begun

 March 7, 2007  Chapter 7: David Ricardo

• Chapter 7: David Ricardo
• The Theory of Diminishing Returns and Rent
  • Rent at the Extensive Margin of Cultivation
  • Rent at the Intensive Margin of Cultivation
• Quiz on Rent - Due March 9 for 5 pts.
• The Theory of Exchange Value and Relative Prices
  • Exchange Value
    • Differing Capital-Labor Ratios
    • Differences in Labor Quality
    • Wages, Profits, and rents
  • Relative Prices

March 9, 2007  Chapter 7: David Ricardo

• Chapter 7: David Ricardo
• The Distribution of Income
  • Ricardian Equivalence Theorem
  • Wages
  • Profits
  • Rents
  • Contemporary Representation
• Policy Implications

Week 6

February 26, 2007  Chapter 5: Adam Smith

• Chapter 5:  Adam Smith
• The Economic Laws of a Competitive Economy
  • Market Price
  • Wages (and Efficiency Wages)
  • Profit
  • Rent
  • The Role of Money and Debt
  • Economic Development

 February 28, 2007  Chapter 6: Thomas Robert Malthus, continued

• Chapter 6:  Thomas Robert Malthus
• Historical and Intellectual Setting
• Malthus' Population Theory
  • Preventive Checks to Population
  • Positive Checks to Population

March 2, 2007  Test II:  Chapters 4, 5 and 6

• Malthus' Population Theory (continued
• Policy Implication: Poor Laws
• The Theory of Market Gluts
• The Need for Unproductive Consumption
• Policy Implications
• Assessment of Malthus's Contributions

Week 5

February 19, 2007  WINTER BREAK - Enjoy! 

February 21, 2007  Chapter 5: Adam Smith, continued

• Chapter 5:  Adam Smith - The Theory of Moral Sentiments
• The Wealth of Nations
• The Division of Labor

February 23, 2007  Chapter 5: Adam Smith continued

• Chapter 5:  Adam Smith
• The Harmony of Interests and Limited Government
• The Economic Laws of a Competitive Economy
  • Value
  • Market Price

Week 4

February 12, 2007  Chapter 4: The Classical School - Forerunners

• Chapter 4:  The Classical School - An Introduction
• An Introduction
• The Scientific Revolution
• The Industrial Revolution
• A little Supply and Demand - Wage ceilings ended (1762)

February 14, 2007  Chapter 4: Tenets of the Classical School

• Test Corrections and Optional Assignment Due
• Tenets, Beneficiaries, Lasting Contributions
• Sir Dudley North

February 16, 2007  Finish Chapter 4 and begin Chapter 5:  Adam Smith

• Richard Cantillion
• David Hume
• Adam Smith - Influences and Bio
• Friday Chapter 4 Mini-Paper is due

Week 3

February 5, 2007  Chapter 3: The Physiocratic School continued

• Chapter 3:  The Physiocratic School
• Overview - Five Questions
• The Spanish School

February 7, 2007  Chapter 3: Concepts and the Spanish School

• Francois Quesnay
• Anne Robert Jacques Turgot
• The Circular Flow Diagram
• Review for the test

February 9, 2007  Test I:  Chapters 1 - 3

• Friday Mini-Paper is due

Week 2

January 29, 2007  Chapter 2: The Mercantilist School - Mini-Paper 1 is due

• Overview - Historical setting
• Five Questions
  • Major Tenets
  • Who did the Mercantilist School Benefit?

January 31, 2007  Chapter 2 continued

• Five Questions
  • Mercantilist validity at the time
  • Mercantilist Tenets that become lasting contributions
• Lingering Mercantilism - potential test question
• Thomas Mun

February 2, 2007  Mercantilist Authors and Chapter 3: The Physiocratic School

• Gerard Malynes
• Charles Davenant
• Jean Baptiste Colbert
• Sir William Petty
• Bernard Mandeville
• Friday Mini-Paper is due

Week 1

January 22, 2007     Introduction to the course

• Syllabus and Outline discussion
• Assign Chapter 1 and Landreth and Colander's "Chapter 2: Early Preclassical Economic Thought" for Wednesday and Friday.

January 24, 2007     Chapter 1: 

• Read Chapter 1.
• Discuss the Five Major Questions
• Read Chapter 2 - Early Preclassical Economic Thought
• Discuss Broad Generalizations of Pre-1500 (pre-Mercantilist) thought
• Who was Guan Zhong and what did he provide to economic thought?

January 26, 2007     Chapter 2: Early Preclassical Economic Thought continued

• The Greeks:
  • Hesiod and Xenophon
  • Plato and Aristotle 
• Arab-Islamic Thought
  • al-Ghazali
  • Ibn Khaldun
• The Scholastics
  • The Feudal Foundation
  • St. Thomas Aquinas

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email: drew (at) drewparkes.com
Last Update: May 11, 2007
By Andrew L. H. Parkes, Ph. D.