History of Economic Thought

University of Cape Town

Course Description

  • Course Name

    History of Economic Thought

  • Host University

    University of Cape Town

  • Location

    Cape Town, South Africa

  • Area of Study


  • Language Level

    Taught In English

  • Prerequisites

    ECO1010F/S/H/X Microeconomics and ECO1011F/S Macroeconomics; either ECO2003F Microeconomics II and ECO2004S Macroeconomics II (recommended) or two 2nd year level courses in either Philosophy, Politics or History.

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Host University Units

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
    4 - 5
  • Overview

    This course provides an overview of the historical development of economic thought and thereby places the theory learned in mainstream economics courses within a broader perspective. It consists of a sampling of the theories of prominent individual economic thinkers as well as schools of economic thought. Topics include the
    following: a brief review of pre-modern economic thought; Mercantilism; Physiocracy; the classical political economy of Smith, Malthus and Ricardo; socialist economic thought and Marx; utilitarianism, marginalism and the rise of neoclassical economics; the German historical school: Keynes and Keynesian economics; and an
    introduction of heterodox schools of thought, such as evolutionary, institutionalist, post-modern and ecological approaches.

    DP requirements: All class tests and assignments/essays/projects to be completed. A weighted average mark
    of 40% for tests, tutorials, essays and assignments. Only students who have obtained DP certificates may write the final examination.

    Assessment: Classwork (tests, tutorials and assignments/essays/projects) 40% June examination 60%. The course outline will detail the breakdown for submission weightings and variation for exemptions and absences.

Course Disclaimer

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.


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