8/12/2019 ECO429 2013 14 FW Outline (2)

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UNIVERSITY OF TORONTO

Department of Economics

ECO429Y: Fall!inter" 2#$%$4&istor' of Economic T(o)*(t

Kieran Furlong, +,f)rlon*-)toronto,caOffice Hours. GE344: Tuesdays, 12:00 – 1:0 !"

Te#$%oo&s:'da( )(i$*, The Wealth of Nations +aid, -icardo, Principles of Political Economy Karl, "ar#, Capital (Oxford: Abridged Edition, !!"# "ars*all, 'lfred, Principles of Economics !ro(e$*eus /oo&s, e or&, 1 #Keynes, 5o*n "aynard. $eneral Theory of Employment, %nterest, and &oney

 "ic*ael 6eis, The 'eal Price of Eerything , )$erling, 2007, *as $*e co(8le$e )(i$* and-icardo 8lus o$*er au$*ors in *ard coer for a%ou$ 940, an un*eard of 8rice

)econdary )ources:Hollander, )a(uel. Classical Economics. Toron$o

/laug, "ar& Economic Theory in 'etrospect , 2000+eanne, !*yllis. The Eol)tion of Economic %deas, 17+o%%s, "orris. Theories of *al)e and +istrib)tion since Adam mith , 13Gra(, H. and ;. <als*. Classical and Neoclassical Theories of $eneral E-)ilibri)m, 170)c*u(8e$er, 5ose8*.  .istory of Economic Analysis =a(%ridge, 14

Ealua$ion 1 !age =lass !resen$a$ion Firs$ Ter( 4>  )e(inar !ar$ici8a$ion Firs$ Ter( ?>  1 !age =lass !resen$a$ion )econd Ter( 4>  )e(inar !ar$ici8a$ion )econd Ter( ?>  1 8age essay due "arc* 12 20>

  "id$er( E#a( 2 *ours o. 2 :10 – 12:00'" 20>Final E#a( 3 *ours Final E#a( !eriod 40>

T*e (id$er( and final e#a(s are a co(%ina$ion of s*or$@anser and essay $y8e Aues$ionsi$* so(e c*oice in Aues$ions ansered. )$uden$s *o (iss $*e (id$er( e#a( due $o adocu(en$ed a%sence e.g., doc$orBs no$e (us$ ri$e $*e (a&e@u8 e#a(, *ic* ill occur 2ee&s la$er. !lease no$e $*a$ $*ere is no c*oice on $*e (a&e@u8 e#a(.

T*e 1 8age essay i.e., 1 dou%le s8ace 8ages i$* nor(al (argins and 12 8oin$ $y8e, no$including %i%liogra8*y ill analyCe 8ri(ary and secondary sources s8ecified %y (e on an as8ec$of $*e $*eories of one of $*e au$*ors discussed in $*e course. D ill only acce8$ la$e essays duringlec$ures or (y office *ours and $*ere are no e#$ensions. T*e 8enal$y for la$eness is > on "arc*20, 10> on "arc* 2, and 1> on '8ril 3.. 6a$e ssays are no$ eligi%le for re(ar&ing. 'lls$uden$s (us$ *and in $o co8ies of $*e essay. ou (us$ also %e 8re8ared $o gie (e a digi$alco8y for su%(ission $o Turni$in u8on (y reAues$.

!resen$a$ion (ar&s are gien for a 1 8age 8resen$a$ion 12 8oin$, dou%le@s8aced, nor(al(argins gien $o (e %efore $*e 8resen$a$ion on designa$ed 8ages fro( an au$*or during onese(inar 8eriod for a 8o$en$ial 4 (ar&s and t(e ri*(t to *et one participation mar+ for a

comment or .)estion per seminar *ic* $a&e 8lace %e$een :10 and 10:00 '" in $*eclassroo( 8rior $o $*e lec$ure u8 $o a (a#i(u( of ? (ar&s for si# se(inars. )$uden$s ill sign

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8/12/2019 ECO429 2013 14 FW Outline (2)

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ECO429Y: Fall!inter" 2#$%$4

u8 for $*eir 8resen$a$ion day 8er $er( in $*e firs$ class of eac* $er(. Df you (iss your 8resen$a$ion, you (us$ 8roide docu(en$a$ion of a legi$i(a$e reason, su%(i$ your original 8resen$a$ion, and do a re8lace(en$ 8resen$a$ion $*a$ D ill assign.

0ect)re an1 Rea1in* Sc(e1)le

)e8$. 11 Dn$roduc$ion and $*e Gree&s: 'ris$o$le Politics, /oo& D and DD E$*ics, /oo& ;)e8$. 17 T. "un, England/s Treas)re, =*. DD@ <. !e$$y, A Treatise of Taxes, =*. DDD@;)e8$. 2 !*ysiocra$s: Francois uesnay, Tablea) 0conomi-)e, and '.-.5. Turgo$, 'eflections.Oc$. 2 'da( )(i$*: +iision of 6a%our and ;alue. Wealth of Nations, /oo& D, =*. 1@.Oc$. )(i$*: !rice, +is$ri%u$ion, and Gro$*. Wealth of Nations, /oo& D, =*. ?@Oc$. 1? "al$*us: 'n Essay on $*e !rinci8le of !o8ula$ion, =*. 1 @ DDOc$. 23 +aid -icardo: ;alue and !rice . Principles, ;ol. D, =*. 1, )ec$ions D @ ;DDOc$. 30 -icardo: -en$ and Gro$*. Principles, =*. 2, 3, ?, 21 o ? Karl "ar#: = ; ). Capital  .1, !ar$ DD, =*. 4 @  o 13 "ar#: '%solu$e and -ela$ie )ur8lus ;alue. Capital  .1, !ar$ D;, =*. 12 !ar$ , =*.1? o 20 "ar#: =a8i$alis$ I !ri(i$ie 'ccu(ula$ion.Capital .1, !ar$ ,=*.2 !ar$ 7, =*.2? @ 2

 o. 2 "id@$er( E#a(5an. 7 <.). 5eons: "arginal J$ili$y and ;alue. Theory of Political Economy, =*s. D@D;5an. 1 =arl "enger: "arginal J$ili$y and ;alue. Principles of Economics, =*s. DDD@D;5an. 22 6eon <alras: General EAuili%riu(. Elements o f P)re Economics, !reface, 6esson ?5an. 2 'lfred "ars*all: J$ili$y and +e(and.  Principles, /oo& DDD, =*a8$ers 1@4, ?Fe%. 'lfred "ars*all: Fac$or !rices and )u88ly.  Principles, /oo& ;, =*a8$ers D – ;D and ;Fe%. 12 Eugene /o*(@/aer&  Positie Theory of %nterest : =a8i$al and Dn$eres$Fe%. 2? Dring Fis*er The 'ate of %nterest : =a8i$al and Dn$eres$"arc* 5.". Keynes: =lassical =ri$iAue, $eneral Theory, =*a8$ers 1@3, @10, 14"arc* 12 5.". Keynes: T*e General T*eory, $eneral Theory, =*a8$ers 7@ 11, 13, 17, 24"arc* 1 ". Fried(an: !er(anen$ , !*illi8s =ure, o%el 6ec$ureL, 5!E 5une, 1, 41@2

"arc* 2? "il$on Fried(an: "one$aris(. T*e -ole of "one$ary !olicyL, AE' 1?7, 1 @ 1'8ril 2 -eie

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ECO429Y: Fall!inter" 2#$%$4

Seminar Sc(e1)le:

)e8$. 17 'ris$o$le. Politics, /oo& D and DD, Nichomachean Ethics, /oo& ;.)e8$. 2 T. "un, England/s Treas)re, =*. DD@ <. !e$$y, A Treatise of Taxes, =*. DDD@;Oc$. 2 Francois uesnay, Tablea) 0conomi-)e '.-.5. Turgo$, 'eflections, !oin$s 1@34Oc$. 'da( )(i$*,: +iision of 6a%our: Wealth of Nations, /oo& D, Dn$roduc$ion, =*. D@D;Oc$. 1? 'da( )(i$*: ;alue. Wealth of Nations, /oo& D, =*. ;@;DDOc$. 23 "al$*us: An Essay on the Principle of Pop)lation, !reface, =*. 1 @ DDOc$. 30 +aid -icardo: 6a%our ;alue. Principles, =*a8$er D, )ec$ions D @ ;DD o ? +aid -icardo: <ages, e$c... Principles, =*a8$er DD @ ; o 13 Karl "ar#: +egree of E#8loi$a$ion. Capital  ;.1, =*. ;DDD @ D o. 20 "ar#: 'ccu(ula$ion.Capital .1, !ar$ ,=*.2 !ar$ 7, =*.2? @ 25an. 1 5eons: =*a8$er DDD, 3?@?15an.. 22 "enger: =*a8$er DDD, 11@1415an. 2 <alras. !reface $o $*e 4$* Edi$ion, 40@4? 6esson ?, 2@10Fe%. "ars*all. +e(and: /oo& DDD, =*. DDD. Elas$ici$y: /oo& DDD, =*. D;.Fe%. 12 "ars*all. )u88ly: /oo& ;, =*. DDD. =os$: /oo& ;, =*. D;

Fe%. 2? /o*(@/aer&: DD, 1@23: ;, 23 – 271"arc* Fis*er: ;: ?1@?3 @ 112"arc* 12 Keynes: =*. 2, 4 – 22 =*. , 4@7"arc* 1 Keynes: =*. 14, 1 – 17 =*. 17, 24 @ 24"arc* 2? Fried(an: Mo%el 6ec$ureB T*e -ole of "one$ary !olicyL

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