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History of Economic Theory

History of Economic Theory. Instructor: Dr. S. S. Sivakumar, Department of Humanities and Social Science, IIT Madras. This course provides a study of the History of Economic Theory from a perspective of the history of economy, society and ideas. The course outlines the relationship between the two central issues of scarcity and uncertainty, with different forms of socio economic organization, such as hunting-gathering, pastoral and agrarian socio economic organization. The next historical epoch consists of decline of feudalism, the emergence of the nation state, the mercantile revolution, the Reformation of the Church, the new philosophy and the birth of reason as a driving force in human thought. The economic ideas of Adam Smith and the concept of the invisible hand as an economic variant of natural order are discussed. Then the discussion on the positions of Ricardo and Malthus on the political economy of the market economy is followed. This course looks at the developments in economics subsequent to classical political economy. Socialism and the works of Marx constitute the chronological and logical sequel to Classical political economy. (from nptel.ac.in)

Lecture 09 - The Age of Faith: Europe until the Crusades


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Lecture 01 - The Socio-Economic Role of Scarcity and Uncertainty
Lecture 02 - The Process of Construction of Knowledge
Lecture 03 - The Role of Faith and Experience
Lecture 04 - From Orphism to the Milesians in Ancient Greece
Lecture 05 - Pythagoras and Heraclitus
Lecture 06 - From Parmenides to the Atomists
Lecture 07 - From the Ancient Greece to the Emergence Of Feudalism
Lecture 08 - Feudalism and the Growth of the Church
Lecture 09 - The Age of Faith: Europe until the Crusades
Lecture 10 - The Beginnings of Modernity
Lecture 11 - Scholasticism and St. Thomas
Lecture 12 - Transformation of Europe towards Modernity
Lecture 13 - Birth of Political Economy: Mercantilism
Lecture 14 - The Debate over Mercantilism: Hume and Cantillon
Lecture 15 - A Postscript to Mercantilism: Hume and James Stewart
Lecture 16 - Natural Order and the Market: Quesney and Galiani
Lecture 17 - Adam Smith: The Invisible Hand
Lecture 18 - Adam Smith: Growth Theory, Long Run Equilibrium and Institutions
Lecture 19 - Ricardo-Malthus Debate
Lecture 20 - Ricardian Economics and More
Lecture 21 - Equilibrium of the Market: from Say to Walras
Lecture 22 - More on Equilibrium: Cournot, Dupuit, Gossen, von Thunen
Lecture 23 - Socialists and Karl Marx
Lecture 24 - The Economics of Marx
Lecture 25 - Marx as an Ideologue of Revolution
Lecture 26 - Arrival of Modern Universals in Economics: Neo Classical School
Lecture 27 - Economic Theory at the Time Arrival of John Maynard Keynes
Lecture 28 - The Centrality of the Idea of Efficiency in the Study of Market
Lecture 29 - Keynesian Revolution: Macroeconomics
Lecture 30 - Keynesian Economics
Lecture 31 - Economics of Institutions
Lecture 32 - Transaction Cost and Economic Anthropology Approaches
Lecture 33 - Evolutionary Economics: the Idea of Change as Evolution
Lecture 34 - From Joseph Schumpeter to Neo Schumpeterian Evolutionism
Lecture 35 - The Social Construction of knowledge: Case of Economics
Lecture 36 - The Social Construction of knowledge: Adaptation and Revolution