100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Schools in question: an elaborate summary of the course History of Economics (grade 9.5) CA$12.47   Add to cart
Quickly navigate to
Preview
  2.  
  3. Radboud Universiteit Nijmegen (RU)
  4.  
  5. History of Economics (MANBCU302)

Summary

Schools in question: an elaborate summary of the course History of Economics (grade 9.5)

7 reviews
 190 views  7 purchases
  • Course
  • History of Economics (MANBCU302)
  • Institution
  • Radboud Universiteit Nijmegen (RU)
  • Book
  • A History of Economic Thought

A complete summary of the course History of Economics. This document will tell you everything you need to know in preparation for the exam History of Economics. This document has been adjusted to include the answers to all of the possible exam questions as given by the lecturer. The document is div...

[Show more]
Last document update: 4 year ago

Preview 4 out of 83  pages

Document information

  • Yes
  • May 20, 2019
  • January 6, 2020
  • 83
  • 2019/2020
  • Summary

Subjects

  • history
  • history of economics
  • economics
  • history of economic thought

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • all schools in a table
  • All economists in a table
All for this textbook (3)

Written for

  • Radboud Universiteit Nijmegen (RU)
  • Economie en bedrijsfeconomie
  • History of Economics (MANBCU302)
All documents for this subject (9)

7  reviews

review-writer-avatar

By: evertdkz • 2 year ago

review-writer-avatar

By: aleyna_gungorer • 2 year ago

review-writer-avatar

By: thijmendeniet • 3 year ago

review-writer-avatar

By: ek99 • 4 year ago

review-writer-avatar

By: arthurramaekers • 4 year ago

review-writer-avatar

By: pepijnlansbergen • 4 year ago

review-writer-avatar

By: claurunner • 5 year ago

Seller

avatar-seller
bdenotter

Reviews received

Content preview

Schools in question: an elaborate
summary on the course History
of Economics
Author: Billy den Otter
Note: the order of schools can vary a bit chronologically speaking. This is because a few
schools occurred closely after or at the same time as each other. Similarly, not all economists
will be in their correct school as they fit well in multiple schools.


This document covers all lectures and group sessions from the course History of economics.
At the end of the document there are some smaller things that didn’t really fit into one
particular school or was significant enough to mention somewhere else as well. At the very
end there is also a small test version of how the exam will look like. You can use this to test
your current knowledge of the course and where you need to pay some more attention.




This document is an updated version of the 2018 course, fit for the 2019/2020 year. Because
of that, it might occur that some small things are still included in the document which are no
longer relevant. However, all things you need to know for the 2019/2020 course are present
in this document.

,Table of contents
Introduction to the History of Economics...................................................................................3
School in Question: Mercantilism...............................................................................................5
School in Question: Physiocrats..................................................................................................8
School in Question: Classical school.........................................................................................10
School in Question: Socialism...................................................................................................22
School in Question: German Historical school..........................................................................30
School in Question: Marginal School........................................................................................33
School in Question: Neoclassical school...................................................................................40
School in Question: Mathematical school / Econometrics.......................................................44
School in Question: Institutional school...................................................................................48
School in Question: Welfare economics...................................................................................52
School in Question: Keynesian school......................................................................................53
School in Question: Chicago school / new classicism...............................................................60
School in Question: Behavioural and Experimental economics...............................................65
Stuff that doesn’t belong to a particular school.......................................................................68
Different theories of value used over time...............................................................................75
Test yourself: a test version of the exam..................................................................................77

,Introduction to the History of Economics

Figure 1 shows the entire course




Figure 1: the entire course
I could end the summary here, but let’s go into a ‘bit’ more detail. History of economics also
means History of science, math, economics and in some cases social science and philosophy.
It is about telling a story, and that story includes the broader picture.
The history of economics is difficult because of a few reasons:
- people specialize, which leads to cognitive limitations. In order to get more out of
economy, they don’t study biology for example.
- Lack of historicity in standard economics
- interpretation difficulties: with which period do you compare?
- Mercantilists (we will see them later) are nothing compared with nowadays
economics, but how about for their time?
- in the more recent parts, it hasn’t been decided what goes in the history books yet.
- From normal big events, you can mostly identify whether they will hit the history
books or not. Think of the meeting between Kim Jong-Un and Donald Trump or, at
the time of writing this, the very recent verdict on Suriname’s president Bouterse.
- however, for economics that is more difficult. Whose theories will become the
mainstream economics in a hundred years? It is unknown yet.

, Joseph Schumpeter makes a distinction between the history of thought, which is history as
important for its own sake, and history of analysis, which is important only as anticipating
today’s knowledge. History of thought focusses on historical context and schools or
individuals, while history of analysis focusses on logic and concepts or problems.
Economic thoughts and theories can be found as early as Egyptian and Greek civilizations.
However, because of a limited timeframe we simply cannot discuss all that. We have to draw
a border somewhere, and so this course starts with Mercantilism.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller bdenotter. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$12.47. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

85443 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$12.47  7x  sold
  • (7)
  Add to cart