Introduction to Economic Thought 7.5 credits

The aim of the course is to provide an introduction to economic thought. The overall objective of the course is to understand the origins of economic theories and their development, as well as their connection with other fields such as political science and philosophy. The course will also focus on the important interplay between economic theories and society. The course will include the ideas and theories of classical economists – such as Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and Joseph Schumpeter – as well as the contributions of Nobel Memorial Prize laureates in Economics. **Connection to Research and Practice** The course offers a direct connection to research in all areas of economics as students are asked to summarize and evaluate the scientific contributions of classical economists and Nobel laureates, including but not limited to research in JIBS’ focus areas of entrepreneurship, renewal, and ownership (e.g., Marx’ critique of political economy, Schumpeter’s theory of economic development). Exposure to this research helps students understand how economists think. The course encourages students to apply economic concepts and findings to current real-world problems, and evaluate the significance of these concepts and findings for society at large.