| Indian Statistical Institute, Delhi |
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| Economics 294, History of Economic Thought |
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| Professor E. Somanathan |
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| Class no. |
Date |
Readings |
Remarks |
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| 1 |
10/01/12 |
Overview |
RH:
Robert Heilbroner, The Worldly Philosophers. |
| 2 |
12/01/12 |
RH,
Ch 3. Smith Book 1, Ch 1-3. |
Adam
Smith, The Wealth of Nations |
| 3 |
17/01/12 |
Smith
Book 4, Ch 2. Blaug Ch 2, Sec 19 (pp. 59-63). |
Mark
Blaug, Economic Theory in Retrospect. |
| 4 |
19/01/12 |
RH,
Ch 4 (upto p 94 on Malthus). Malthus Ch 1 & Ch 2 (pp. 4-11). |
Malthus |
| 5 |
24/01/12 |
RH,
Ch 4. (pp 95-104 on Ricardo), Blaug pp. 85-93. |
Ricardo |
| 6 |
31/01/12 |
RH,
Ch 6. Marx & Engels, The Communist Manifesto, Part 1, and the 10-point
program. Blaug Ch 7, Sec 46 (pp. 274-275). |
Marx |
| 7 |
02/02/12 |
Blaug,
Ch 8, Sections 1-3. J.R. Hicks, Value and Capital, Ch 1 (pp 11-25). |
The
beginning of neoclassical economics |
| 8 |
07/02/12 |
Hicks
Ch 2 pp 26-41. Hayek. Weintraub pp 113-115. |
Demand
theory (Slutsky). Informational role of prices. General Equilibrium. |
| 10 |
09/02/12 |
S.
Bowles, Microeconomics: Behavior, Institutions, Evolution Ch 6, pp 205-232 |
Welfare
Theorems and Coase |
| 11 |
11/02/12 |
Sen. |
Welfare
Economics |
| 12 |
16/02/12 |
Akerlof,
The Market for Lemons |
Information. |
| 13 |
23/02/12 |
J.
Stiglitz, Whither Socialism? Ch 3, pp. 27-44. |
Information-based
criticque of 1st Welfare Thm. |
| 14 |
06/03/12 |
Somanathan
EPW. Bagwell & Wolinsky |
Modern
Economic Theory. Game theory. |
| 15 |
13/03/12 |
Stiglitz, Ch 7, pp. 109-138. |
Competition. Industrial Organisation. |
| 16 |
15/03/12 |
RH Ch 10.
Stiglitz, Ch 8, pp. 139-152. |
Schumpeter,
Innovation |
| 17 |
16/03/12 |
RH
Ch 9. Keynes, The Great Slump of 1930. The General Theory Ch 3, Sections II
and III. |
Keynes |
| 18 |
27/03/12 |
Hicks:
Mr Keynes and the Classics. Keynes: The General Theory, Ch 12. |
Macroeconomics |
| 19 |
29/03/12 |
Mankiw, JEP 1990 |
Macroeconomics |
| 20 |
03/04/12 |
Akerlof,
Nobel Lecture 2001 |
Macroeconomics |
| 21 |
10/04/12 |
Andrei
Shleifer, Inefficient Markets, Ch 1, pp. 1-27. Krugman-NYT-Sept2009. |
Financial
markets, the troubles of macroeconomics |
| 22 |
12/04/12 |
Angrist
and Pischke, Scheiber, Rogeberg & Meltberg |
Econometrics,
Is economics a science? |
| 23 |
17/04/12 |
Clark
et al pp. 95-111 (to the end of Section 3.3). J.K. Galbraith, The Affluent
Society, Ch 11 pp 152-160, Ch 18 pp 251-269. Tibor Scitovsky, Human Desire
and Economic Satisfaction pp. 117-127 |
Endogenous
preferences |
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