Students

ECON3056 – Evolution of Economic Ideas

2021 – Session 1, Special circumstances

Notice

As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group activities on campus, and most will keep an online version available to those students unable to return or those who choose to continue their studies online.

To check the availability of face-to-face and online activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Wylie Bradford
Credit points Credit points
10
Prerequisites Prerequisites
130cp at 1000 level or above including ((ECON110 or ECON111 or ECON1020) and 20cp at 2000 level or above)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

Why is economics the way it is? 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 form the focus of this unit. The unit considers history of economic thought from a non-standard and enlightening perspective. Rather than trace through the chronology of authors and schools of thought, the unit examines the evolution of theories and theoretical ideas from their origins (sometimes in antiquity), 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. Topics may include: theories of value; theories of distribution; theories of growth; theories of cycles and fluctuations.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://students.mq.edu.au/important-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Identify the distinguishing characteristics of key schools of thought and stages in the development of economic theory.
  • ULO3: Analyse and describe the important individual contributors to the development of economics.
  • ULO2: Evaluate the major theoretical approaches to the analysis of economic issues, the assumptions on which they are based, and their implications.
  • ULO4: Exhibit the ability to interpret economic reasoning as presented in varying literary forms at different points in time.
  • ULO5: Show a clear capacity to critically assess and compare current and historical approaches to the development of economics.

Assessment Tasks

Name Weighting Hurdle Due
Tutorial assignment 35% No Student-determined, beginning Week 3
Personal Reflective Blog 40% No Fortnightly, beginning Week 3
Discussion 25% No Weeks 8,12

Tutorial assignment

Assessment Type 1: Qualitative analysis task
Indicative Time on Task 2: 25 hours
Due: Student-determined, beginning Week 3
Weighting: 35%

Weekly study of major thinkers


On successful completion you will be able to:
  • Identify the distinguishing characteristics of key schools of thought and stages in the development of economic theory.
  • Analyse and describe the important individual contributors to the development of economics.
  • Exhibit the ability to interpret economic reasoning as presented in varying literary forms at different points in time.
  • Show a clear capacity to critically assess and compare current and historical approaches to the development of economics.

Personal Reflective Blog

Assessment Type 1: Reflective Writing
Indicative Time on Task 2: 30 hours
Due: Fortnightly, beginning Week 3
Weighting: 40%

Full details are available in the Unit Guide


On successful completion you will be able to:
  • Identify the distinguishing characteristics of key schools of thought and stages in the development of economic theory.
  • Analyse and describe the important individual contributors to the development of economics.
  • Evaluate the major theoretical approaches to the analysis of economic issues, the assumptions on which they are based, and their implications.
  • Exhibit the ability to interpret economic reasoning as presented in varying literary forms at different points in time.
  • Show a clear capacity to critically assess and compare current and historical approaches to the development of economics.

Discussion

Assessment Type 1: Debate
Indicative Time on Task 2: 15 hours
Due: Weeks 8,12
Weighting: 25%

Full details are available in the Unit Guide


On successful completion you will be able to:
  • Identify the distinguishing characteristics of key schools of thought and stages in the development of economic theory.
  • Evaluate the major theoretical approaches to the analysis of economic issues, the assumptions on which they are based, and their implications.
  • Show a clear capacity to critically assess and compare current and historical approaches to the development of economics.

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • the Learning Skills Unit for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation

Delivery and Resources

There is no set text. A guide to reading resources will be supplied on iLearn. Lecture content will provided and available weekly. Tutorials will be available in both Zoom and face-to-face formats.

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to help you improve your marks and take control of your study.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Enquiry Service

For all student enquiries, visit Student Connect at ask.mq.edu.au

If you are a Global MBA student contact globalmba.support@mq.edu.au

Equity Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

IT Help

For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.