Course Description
This course provides an introduction to the history of economic thought. The course will begin with a brief survey of pre-capitalist economic thought, then cover the evolution of economic thinking from the mid-18th century around the time that Adam Smith was writing and continue through to the present day.
Course Outcomes
By the end of the semester you should be able to:
- understand the main
ideas of the major schools of economic thought;
- recognize the
historical context behind different contributions to economic thought;
- develop an
appreciation for the evolution of capitalist institutions, economic thinking,
and the nature of economies;
- understand the
difference between “Political Economy” and “Economics” and “orthodox” and
“heterodox” economics;
- develop a broader set
of tools with which to think about and solve real world economic problems
Course Content
- Origins
of Modern Economic Thought Introduction:
- Classical
Political Economy
- The
Critique of Capitalism and Classical Political Economy
- The
Rise of Neo-Classical Economics
- The
Keynesian Intervention
- Dependency
Theory and Third World Reactions
- New
Classicals, Monetarists, and Supply-Siders
- Other Current Radical Approaches
Compulsory Reading Materials
- Teachings from the Worldly Philosophy (1997) Heilbroner,
Robert L. ISBN: 978-0393316070
- Landreth,
H. and Colander, D. (1994) History of Economic Thought, Third Edition, Boston:
Houghton-Mifflin.
- Ekelund
R.B. and Herbert, R.F. (1997) A History of Economic Theory and Method, New
York: McGraw Hill, Fourth Edition.
Optional Reading Materials
- Blaug,
M. (1986) Economic Theory in Retrospect, London: Cambridge University Press,
Fourth Edition.
- Niehans,
J. (1990) A History of Economic Theory: Classic Contributions, 1720-1980, Johns
Hopkins University Press.
- Understanding Capitalism: Critical Analysis from Karl Marx to
Amartya Sen (2002) Dowd, Douglas ISBN: 978-0745317823
- Facilitator: Sarah Anang
Course Description
This course introduces students to the basic concepts, principles and theories of microeconomics. It discusses the rational economic behavior of the consumer which gives rise to the nature of demand and supply curves. It also analyses the equilibrium of the firm as well as the behavior of the different types of markets in allocating scarce resources as a whole. The course offers students an understanding of the fundamental operations of the markets in which individuals, businesses, and governments transact daily activities. It also introduces students to theories of production, utility, cost and revenue and how factors of production can be used to maximize firm revenue and cost.
Learning Outcomes
At the end of the course, students will:
- Explain the two main branches of economics
- Explain the changes in demand/supply and changes in quantity demanded/supplied.
- Compute and measure the price elasticity of demand and supply, cross-price elasticity of demand and income elasticity of demand.
- Distinguish between the theory of production and cost in both the short run and the long run.
Course Content
- Nature and Scope of Economics
- Demand and Supply Analysis
- Concepts of Elasticity of Demand and Supply
- Theory of Consumer Behaviour
- Production Theory: Short Run and Long Run Analysis
- Cost Theory: Short Run and Long Run Analysis
- Market structures
- Factor Market and Rewards
Compulsory Reading Materials
- Appiah-Kubi, K. (2007). Principles of microeconomics, ISSER, Legon
Optional Reading Materials
- Colander, D. C. (2004). Microeconomics, (5thed.). McGraw-Hill
- Frank, R. H. & Bernanke, B. S. (2001). Principles of economics, McGraw-Hil
- Mankiw, G. N. (2001). Principles of Macroeconomics, (2nded.). Thomson-Western
- Ofori-Atta, J. (1998). Introduction to microeconomics, IEA Woeli Pub, Services
Course Description
This course introduces students to the basic concepts, principles and theories of microeconomics. It discusses the rational economic behavior of the consumer which gives rise to the nature of demand and supply curves. It also analyses the equilibrium of the firm as well as the behavior of the different types of markets in allocating scarce resources as a whole. The course offers students an understanding of the fundamental operations of the markets in which individuals, businesses, and governments transact daily activities. It also introduces students to theories of production, utility, cost and revenue and how factors of production can be used to maximize firm revenue and cost.
Learning Outcomes
At the end of the course, students will:
- Explain the two main branches of economics
- Explain the changes in demand/supply and changes in quantity demanded/supplied.
- Compute and measure the price elasticity of demand and supply, cross-price elasticity of demand and income elasticity of demand.
- Distinguish between the theory of production and cost in both the short run and the long run.
Course Content
- Nature and Scope of Economics
- Demand and Supply Analysis
- Concepts of Elasticity of Demand and Supply
- Theory of Consumer Behaviour
- Production Theory: Short Run and Long Run Analysis
- Cost Theory: Short Run and Long Run Analysis
- Market structures
- Factor Market and Rewards
Compulsory Reading Materials
- Appiah-Kubi, K. (2007). Principles of microeconomics, ISSER, Legon
Optional Reading Materials
- Colander, D. C. (2004). Microeconomics, (5thed.). McGraw-Hill
- Frank, R. H. & Bernanke, B. S. (2001). Principles of economics, McGraw-Hil
- Mankiw, G. N. (2001). Principles of Macroeconomics, (2nded.). Thomson-Western
- Ofori-Atta, J. (1998). Introduction to microeconomics, IEA Woeli Pub, Services