This course will increase the student’s understanding and appreciation of the development, and progression of the discipline of economics. It highlights the contributions of leading economists and the relevance of their theories to later periods. This course is structured around this central questions:
How have different schools of thought in economics analyzed market as the institution of resource allocation? How the views about market and state as two major institutions for resource allocation have changed throughout the history of economics? And more importantly, how a theory in economics is related to the situation in the contemporary world?