|
|
Contending Economic Theories: Neoclassical, Keynesian and Marxian, by Richard D. Wolff, New School University, New York, USA.
A Professor of Economics at Yale University, the University of Massachusetts at Amherst, and now in New York, Richard also appears regularly on many radio and TV programs worldwide. He hosts his own weekly radio program, “Economic Update,” on over 40 stations in the US, Canada, and the UK. He co-authored Contending Economic Theories (Cambridge, MIT: 2012), one basis for this course. His work is available at www.rdwolff.com and democracyatwork.info.
|
Course content
This course aims to compare the three major alternative economic theories contesting in the world today: (1) mainstream neoclassical economics (taught most in universities and used most by politicians and journalists); (2) Keynesian economics (government intervention to prevent, shorten, or offset the recurring crises of capitalist economies); and (3) Marxian economics (a critical approach to capitalism that presumes society can do better than capitalism).
Students will learn how to apply the alternative theories to major global problems (economic development, income and wealth inequality, business cycles, etc.) and to grasp how societies change depending on which of the theories informs the thinking and actions of influential social groups.
Daily topics / activities
MONDAY
Topics: Introduction to the three Economic Theories; Short History of origins and evolution of classical/neo-classical economics, Keynesian economics and Marxian economics
Activities: Short introduction by instructor followed by class discussion.
TUESDAY
Topics: The core principles of neoclassical economics; the resulting policy prescriptions especially for economic development and crises (today’s “austerity” debate); and neoclassical theory’s political and ideological functions.
Activities: Short introduction by instructor followed by class discussion.
WEDNESDAY
Topics: The core principles of Keynesian economics; the resulting policy prescriptions for crises and development; Keynesian theory’s political and ideological functions applied to the 1930s New Deal and the European “austerity” debate since 2007.
Activities: Short introduction by instructor followed by class discussion.
THURSDAY
Topics: The core principles of Marxian economics; the resulting policy prescriptions; Marxian theory’s ideological and political functions applied to (a) brief historical analyses of the economies of the USSR and the People’s Republic of China and (b) new kinds of socialism emerging in the 21st century.
Activities: Short introduction by instructor followed by class discussion.
FRIDAY
Topics: What are the political stakes in the struggles among the theorists and the theories today, with examples drawn from the US, Germany, Greece, and China.
Activities: Short introduction by instructor followed by class discussion.
If you liked this course description find out about fees and pre-register/create an account with no obligation: your course is noted and you will receive an e-mail inviting you to return to the site to pay online.
CHECK THIS OUT: just for pre-registering you will find in the e-mail a link to a paper by Richard Wolff that will give you a flavor of the course and whet your appetite.
So why wait? Pre-register now and pay soon. Your place in the course is guaranteed only after you've paid the registration fee which starts at a low € 480. So hurry: places are limited and this early bird rate is only until May 31.
