Basic Information

Course Code:

ECON 2114

Course Name:

History of Economic Thought

Language of Instruction:

English

Course Type:

Class

Course Level:

Bachelor

ECTS:

5.00

Instructor:

Prof. Dr. Mehmet Ufuk TUTAN

Course Objectives

The aim of this course is to enable students to understand the historical development of economic thought and the major economic approaches that emerged in different periods. By examining schools of thought ranging from classical economics to Marxist, neoclassical, institutional, and heterodox approaches within their historical context, the course aims to develop students’ ability to evaluate the conditions under which economic theories emerged, their main assumptions, and their implications for economic policy. It also seeks to help students analyze the similarities and differences among economic ideas from a comparative perspective.

Course Content

This course covers the basic concepts and major schools in the history of economic thought. The course includes classical economics, Adam Smith, David Ricardo, Thomas R. Malthus, Karl Marx, neoclassical economics and marginalism, modern macroeconomic and microeconomic thought, institutionalism, and heterodox economic approaches. It also examines key topics such as value theory, trade theory, distribution theory, price theory, population theory, labor theory of value, profit theory, economic crises, general and partial equilibrium, the Keynesian approach, monetarism, and the Chicago school within their historical development.

Prerequisites / Corequisites

None.

Course Books / Materials / Recommended Resources

Course Book:Landreth, H., & Colander, D. (2001). History of Economic Thought (4th ed.). South-Western College Publishing.Course Materials:Instructor guidance, in-class discussions, and topic-based presentation materials will be used throughout the course.Recommended References:Hunt, E. K. (2011). A History of Economic Thought: A Critical Perspective. M.E. Sharpe.Ekelund, R., & Hebert, R. (2014). A History of Economic Theory and Method (6th ed.). Waveland Press.

Learning Outcomes

Code	Description
LO1	Define the basic concepts, periods, and major schools in the history of economic thought.
LO2	Explain the main assumptions and contributions of classical, Marxist, neoclassical, institutional, and heterodox economic approaches.
LO3	Analyze the historical development of economic thought within the social and economic conditions in which it emerged.
LO4	Compare different schools of economic thought in terms of their main arguments, similarities, and differences.
LO5	Present a topic related to the history of economic thought in written and oral form in accordance with academic standards.

Weekly Course Content

Week	Content
1	Introduction to the history of economic thought
2	Adam Smith, David Ricardo, and Thomas R. Malthus
3	Classical economics
4	Classical economics
5	Classical utopians
6	Classical economics and Karl Marx
7	Classical economics and Karl Marx
8	Midterm Exam
9	Neoclassical economics and marginalism
10	Neoclassical economics and marginalism / Student presentations
11	Modern macroeconomic and microeconomic thought / Student presentations
12	Modern macroeconomic and microeconomic thought / Student presentations
13	Institutionalism / Student presentations
14	Heterodox economic thought
15	General evaluation and comparative analysis of schools of economic thought

Workload Calculation

Activity	Count	Duration (Hours)	Total
Attendance	14	3.00	42.00
Pre-Class Individual Study	14	3.00	42.00
Midterm Exam/Preparation	1	16.00	16.00
Final Exam/Preparation	1	30.00	30.00
Homework	1	8.00	8.00
Research Presentation	1	12.00	12.00
Total Workload (Hours)			150
ECTS Credit (Workload / 25)			5

Assessment

#	Assessment Type	Contribution (%)
1	Midterm Exam	%30
2	Project	%20
3	Final Exam	%50
TOTAL		%100

PO - LO Matrix

PO \ LO	LO1	LO2	LO3	LO4	LO5
PO-1
PO-2
PO-3
PO-4
PO-5
PO-6
PO-7
PO-8
PO-9
PO-10
PO-11
PO-12

1

Low Contribution

2

Medium Contribution

3

High Contribution

Teaching and Learning Methods

#	Method Name	Description	Tools
1	Lecture (expository teaching), interactive discussion	Listening and taking notes.	Standard classroom technologies, multimedia tools (projector, computer, digital presentations)
2	Controversial Course	Listening and comprehension, critical thinking	Standard classroom technologies, multimedia tools, projector, computer, overhead projector
3	Small Group Discussion	Listening and comprehension, processing observations/situations, critical thinking, question development	Standard classroom technologies, multimedia tools, projector, computer, overhead projector
4	Group Work	Students determine the slope and cross-sectional geometric characteristics of a parabolic irrigation canal on campus, plot the flow rate curve at different sections of the canal, and submit a report.	Land surveying instruments
5	Homework	Solving and analyzing homework questions using a computer and Excel.	Computer

Academic Integrity and Artificial Intelligence

Academic integrity is essential in this course. Students are required to produce original, properly referenced, and ethically prepared work in all course-related tasks. Plagiarism, cheating, improper citation, and presenting someone else’s work as one’s own are considered academic violations. Artificial intelligence tools may be used only to the extent permitted by the instructor and only for supportive purposes. However, the content, accuracy, and academic responsibility of all submitted work remain entirely with the student.

Sustainable Development Goals