Syllabus
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Course Code: CC-11 IN-ECO-503 Course Name: History of Economic Thought |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | (i-a) Classical economics- Adam Smith: Growth, distribution and value; David Ricardo: Distribution theory and views on International trade (i-b) Malthus: Theory of population; Reaction against classicals- Karl Marx: Theory of Capital Exploitation and Surplus value. |
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| 2 | (ii-a) Neo-classical- Marshall: Views on Elasticity, Consumer’s and Producer’s Surplus, Time Element in determination of Prices, Quasi Rent; Keynesian Economics: Underemployment Equilibrium, MEC, Investment Multiplier and Liquidity Preference, (ii-b) Development economists – Hicks: Consumer’s surplus, Super Multiplier; Samuelson theory of trade cycle. |
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| 3 | (iii-a) Cambridge School of economists, Chicago school of economists (iii-b) Mathematical School of economics: Jevons, Walras and Pareto. |
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| 4 | (iv-a) Indian economic Thought- Kautilya: wealth, Divisions of economics, Production, Agriculture, Trade, Public Finance and Economic Functions of State; M.K.Gandhi: Economic Philosophy and ideas, Socialism, The Sarvodaya Plan (iv-b) VKRV Rao: Economic Planning and their economic thoughts; Amartya Sen: Social Welfare and economic justice, poverty Index. |
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