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Unit outline_

ECON6907: Topics in History of Economic Thought

Semester 1, 2022 [Normal day] - Camperdown/Darlington, Sydney

This unit of study revolves around the intensive study of key elements of selected classic works in the development of economic thought. This course of lectures and seminars is not intended to be of purely historical or antiquarian interest; it is animated by the belief that such classic works remain highly relevant, in a fundamental way, for contemporary theoretical and policy debates. In particular, the aim is to: (i) demonstrate the evolutionary and temporal nature of current economic theory, (ii) indicate the attitudes which have developed in the field of policy, and how these are related to past theory, environment, and action; and (iii) make the student aware of the literary, philosophical and cultural elements underlying economic knowledge and practice. Another aim of this unit of study is to enable students to achieve a critical command of conceptual machineries of thought and analysis.

Unit details and rules

Academic unit Economics
Credit points 6
Prerequisites
? 
(ECON6001 or ECON6701) and (ECON6002 or ECON6702)
Corequisites
? 
None
Prohibitions
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Graham White, g.white@sydney.edu.au
Type Description Weight Due Length
Final exam (Open book) Type C final exam Final exam
Final Exam
50% Formal exam period 2 hours
Outcomes assessed: LO1 LO2
Assignment Seminar paper
n/a
50% Multiple weeks 2500 words
Outcomes assessed: LO1
Type C final exam = Type C final exam ?

Assessment summary

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High distinction indicates work of an exceptional standard, a Distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

 

Distinction

75 - 84

 

Credit

65 - 74

 

Pass

50 - 64

 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 The formation of classical economics to 1776 Lecture (3 hr) LO1 LO2
Week 02 Adam Smith: life & thought Lecture (3 hr) LO1 LO2
Week 03 Wealth of Nations: prices and income distribution Seminar (3 hr) LO1 LO2
Week 04 Wealth of Nations: capital accumulation & growth Seminar (3 hr) LO1 LO2
Week 05 Wealth of Nations: economic policy and the state Seminar (3 hr) LO1 LO2
Week 06 Classical economics after Smith and modern economics Lecture (3 hr) LO1 LO2
Week 07 The rise of marginalism and dissenting undercurrents to 1936 Lecture (3 hr) LO1 LO2
Week 08 John Maynard Keynes: life and thought Lecture (3 hr) LO1 LO2
Week 09 GT: the principle of effective demand and the multiplier Seminar (3 hr) LO1 LO2
Week 10 GT: investment and the theory of interest Seminar (3 hr) LO1 LO2
Week 11 GT: economic policy and the state Seminar (3 hr) LO1 LO2
Week 12 Keynes and modern economics Lecture (3 hr) LO1 LO2
Week 13 Q & A with Matthew and Graham Tutorial (3 hr) LO1 LO2

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
  • Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
  • Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

A detailed list of lecture and seminar topics together with the required readings is provided in the Canvas site for this unit.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. apply and continuing to develop expertise in the graduate's chosen discipline or disciplines.
  • LO2. increase the impact of expertise, and to learn and respond effectively and creatively to novel problems and opportunities.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.