Steve Gardner 
Spring 2002 

• Buchholz, Todd G. New Ideas from Dead Economists: An Introduction to Modern Economic Thought. Revised Edition, Plume, 1999.
• Keynes, J.M., The General Theory of Employment, Interest, and Money , Prometheus Books, 1997 [originally published in 1935].
• Marshall, Alfred.  Principles of Economics. 8th Edition. Prometheus Books, 1997 [1st edition originally published in 1890; 8th edition in 1920].
• Mill, John Stuart. Principles of Political Economy . 7th edition, Books II, III, IV and V and Chapters on Socialism. Oxford University Press, 1994 [1st edition originally published in 1848; 7th edition in 1871].
• Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations .Two Volumes. Reprint of the Oxford University Press edition by Liberty Press, 1981 [originally published in 1776].
• Tucker, Robert C., editor. The Marx-Engels Reader. 2nd. Edition. Norton, 1978 [selections originally published between 1843 and 1894].

• Abbott, Leonard Dalton, ed., Masterworks of Economics , McGraw-Hill, 1973.
• Spiegel, Henry William. The Growth of Economic Thought . Duke University Press, 1971.
• Sweezy, Paul. The Theory of Capitalist Development. Oxford University Press, 1942.

• Akamac E-Texts 
• Classics of Economics 
• Great Economists and Their Times 
• History of Economic Thought Society 
• Library of Economics and Liberty 
• Noted Economists 
• On-Line Texts: Social Sciences 
• Pictures of Economists Since Keynes 
• Resources for Economists on the Internet 

Semester grades will be based on your performance on three examinations, each accounting for one-third of the course grade. Unless you are told otherwise, each test will include a combination of multiple choice and essay questions. 

If you have a "comparative advantage" in research and writing, or if there is a particular topic you would like to explore in depth, you may wish to write an optional term paper for this course.  In this case, the term paper and each of the three examinations will be worth 25%.  The term paper should be 5-10 pages long, and it should be a historical survey of economic theories or philosophies on a particular topic.  Topics that you may find interesting would include population growth, environmental protection, determination of wages (or rent or profits), effects of colonialism, arguments for protectionism, economics of health or education, philosophies of taxation, etc.  These are only a few of the possibilities.  If you wish to pursue this option, you will need to discuss it with me very soon, and present a one-page prospectus by February 14.  The paper will be due no later than April 16.

In keeping with University regulations, students who miss over 25% of class meetings (in this case, 8 or more sessions) will automatically fail the course. On the other hand, three points will be added to your semester average if you have perfect attendance; two points will be added if you have one absence; one point will be added if you have two absences. If you arrive late for class, you will be recorded absent unless you have the roll changed after class. Preparation and participation may also be taken into account when course grades are determined.

Tentative Course Schedule
(Please read the required assignments before each class)

Methodology and Philosophy of Science-January 17

• Lecture Notes 
• William Trochim, "Positivism and Post-Positivism" 
• William Trochim, "Deductive and Inductive Thinking"  
• Roger Jones, "Philosophy of Science"  
• Milton Friedman, "The Methodology of Positive Economics," 1953 
• Ernest Nagel, "Assumptions in Economic Theory, The American Economic Review, Vol. 53, No. 2, May, 1963
• Paul Samuelson, "Discussion," The American Economic Review, Vol. 53, No. 2, May, 1963, pp. 231-234.
• Fritz Machlup, "Professor Samuelson on Theory and Realism," The American Economic Review, Vol. 54, No. 5, Sep., 1964. 
• Paul A. Samuelson, "Theory and Realism: A Reply," The American Economic Review, Vol. 54, No. 5, Sep., 1964. 
• George Soros, "The Capitalist Threat," Atlantic Monthly, February 1997 

Recommended: 

• Thomas Kuhn, "The Structure of Scientific Revolutions," 1962 
• Mauro Murzi, "Logical Positivism" 
• Karl Popper, Main Works in English 

• Class Notes 1/22/02 
• Class Notes 1/24/02 
• Buchholz, pp. 1-6.
• Keynes, pp. 351-353.
• The Bible 

Exodus 20:8-11, 22:12, and 23:10-11; Leviticus 25:1-55; Numbers 27:1-11; Deuteronomy 15:1-15 and 23:19-20; II Kings 6:25 and 7:1; Ecclesiastes 4:8 and 5:18; Matthew 6:28-34 and 25:14-30; Luke 6:34-35 and 10:38-41; Acts 4:32-37; and II Thessalonians 3:7-12.

Recommended: 

• Spiegel, Chapters 1 and 2.
• Thomas Aquinas, Summa Theologica 
• Aristotle, Nichomachean Ethics 
• Aristotle, Politics --Book I, Chapters 4, 5, 9, and 10; Book II, Chapters 4 and 5; Book VII, Chapters 4 and 9.

• Class Notes 1/29/02 
• Class Notes 1/31/02 
• Buchholz, 6-9. 
• Smith, pp. 429-438, 446-447, 452-459, 463-465, 471-472, 660-662.
• Keynes, pp. 333-351.

Recommended:

• Spiegel, Chapter 5.
• Thomas Mun, England's Treasure by Foreign Trade, 1664 (In Abbott, Vol. 1, pp. 6-27).
• David Hume, Of Money, 1752 
• Richard Cantillon, An Essay on Commerce in General, 1755 

• Class Notes 2/5/02 
• Class Notes 2/7/02 
• Buchholz, pp. 16-18.
• Smith, pp. 663-688.

Recommended:

• Spiegel, Chapter 8
• A.R.J. Turgot, Reflections on the Formation and Distribution of Wealth , 1766 (In Abbott, Vol. 1, pp. 29-51)

• Class Notes 2/12/02 
• Class Notes 2/14/02   
• Class Notes 2/19/02 
• Buchholz, pp. 10-16, 19-41.
• Smith (skip the editor's general introduction), pp. 10-36, 44-53, 65-89, 105-106, 113-115, 152-153, 160-162, 337-342.

Recommended:

• Spiegel, Chapter 11.

Thomas Malthus--February 26

• Class Notes 2/26/02 
• Buchholz, Chapter 3.
• Malthus, An Essay on the Principle of Population, 1st Edition (1798) , Preface and Chapter 1
• Malthus, An Essay on the Principle of Population, 6th Edition (1826) ,Preface;  I.I;  I.II;  IV.VIII;  IV.XIV
• Keynes, pp. 362-364.

Recommended:

• Spiegel, Chapter 12.

• Class Notes 2/28/02 
• Buchholz, Chapter 4.
• Mill, Book IV, Chapter 3 (pp. 83-99).

Recommended:

• Ricardo, Principles of Political Economy and Taxation, 1817 (In Abbott, Vol. 2, pp. 6-65)
• Thomas Malthus, The Corn Laws, 1814 
• Thomas Malthus, Grounds for an Opinion on the Policy of Restricting the Importation of Foreign Corn, 1815 
• Thomas Malthus, The Nature of Rent, 1815 
• Spiegel, Chapter 14.

• Class Notes 3/14/02 
• Class Notes 3/19/02 
• Class Notes 3/21/02 
• Buchholz, Chapter 5. 
• Mill , Book II, Chapter 1 (pp. 5-24); Book IV, Chapters 6 and 7 (pp. 124-158); Book V, Chapters 1, 2, and 11 (pp. 159-189 and 324-367); and Chapters on Socialism, pp. 379-386,  413-423, and 431-436.

Recommended:

• Jeremy Bentham, Defense of Usury, 1787 
• Spiegel, Chapter 16.

• Class Notes, 3/26/02 and 3/28/02 
• Class Notes, 4/2/02 
• Buchholz, Chapter 6. 
• Tucker, pp. 203-217, 336-340, 355-358, 436-438, 485, 490-491, 522-524, 529-531, 538, 698-701, 716-717.

Recommended:

• Karl Marx, Capital, Vol. 1, 1865 
• Spiegel, Chapter 20.
• Sweezy, passim.

Alfred Marshall--April 9, 16, 18, and 23    DIADELOSO--APRIL 11

• Class Notes 4/9/02 and 4/16/02   
• Class Notes 4/23/02 
• Marshall , Prefaces; Book I, Chapters 1 and 4; Book II, Chapter 3, §1; Book III, Chapters 3, 4, and 6; and Book V, Chapters 3, 5, 12, and 13.
• Buchholz, Chapter 7.

Recommended:

• William Stanley Jevons, A General Mathematical Theory of Political Economy , 1862 
• Spiegel, Chapters 22 and 25.

• Buchholz, Chapter 9.
• Keynes, pp. v-viii, 3-22, 27-28, 165-172, 245-54, 372-84.
• Keynes, "The World 's Economic Outlook," Atlantic Monthly, May 1932 

Recommended:

• Spiegel, Chapter 26.

• Buchholz, Chapter 10.
• Friedman, Milton. "A Theoretical Framework for Monetary Analysis ," The Journal of Political Economy, Vol. 78, No. 2. (Mar. - Apr., 1970), pp. 193-238.
• Friedman, Milton. "Nobel Lecture: Inflation and Unemployment ," The Journal of Political Economy, Vol. 85, No. 3. (Jun., 1977), pp. 451-472.

THIRD EXAMINATION--MAY 9, 8-10 PM

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