Evolution of Economic Ideas

Macquarie University

Course Description

  • Course Name

    Evolution of Economic Ideas

  • Host University

    Macquarie University

  • Location

    Sydney, Australia

  • Area of Study


  • Language Level

    Taught In English

  • Prerequisites

    ECON110 and ECON111 and 6 credit points in Commerce

  • 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

  • Credit Points

  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    Why is economics the way it is? How are modern approaches to analysis related to past contributions? Has there been progress in economics, and how would we know? What is the place of the history of economic thought in the history of ideas more generally? The answer to these and many other fascinating questions are the focus of this unit. The history of economic thought is considered from a non-standard but enlightening perspective: rather than trace through the chronology of authors and schools we examine the evolution of theories and theoretical ideas from their origins (which in some cases stretch back to Greek philosophy) right through to their modern forms. This puts the economics you have already learned into context and allows for a greater appreciation of the historical, social and philosophical influences on the development of economic thought. Examples of the areas covered include the theory of value, the theory of distribution, the theory of growth, and the theory of cycles and fluctuations.

Course Disclaimer

Courses and course hours of instruction are subject to change.

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.