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Master of Commerce (M.Com.) History of Economic Thought Syllabus - Mumbai University

History of Economic Thought Syllabus.pdf
Mandatory course · Semester 1 · M.Com. Business Economics · 2 credits

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Syllabus for History of Economic Thought

Mandatory course · Semester 1 · M.Com. Business Economics · 2 credits

Module I: Ancient to Classical Economic Thoughts (1

  • Credit)
  • Unit 1 Ancient and Classical Economic Thought Introduction to the History of Economic Thought, Meaning, importance and scope - Economic Thought in Ancient Civilizations - Economic ideas in ancient Mesopotamia, Egypt, and India. - The contribution of Hammurabi's Code and Arthashastra. Greek and Roman Economic Thought, Economic ideas of Aristotle, and Plato. Adam Smith - division of labour, theory of values, capital accumulation, distribution. David Ricardo- value, theory of rent, distribution. Karl Marx - dynamics of social changes, theory of values, surplus value, profit and crisis of capitalism and contemporary Relevance.

Module II: Neoclassical to Modern Schools of Thought (1 Credit)

  • Unit 2 Neoclassical, Keynesian and Modern Schools of Thought The Marginalist Revolution - The emergence of marginal utility theory, Pigou: welfare economics, Schumpeter: role of entrepreneur and innovation. Keynesian Economics and the Great Depression and the General Theory, The Keynesian revolution and its impact on economic policy. Milton Friedman and the monetarist school of thought. Nobel Prize Winners in Economics: A. K. Sen (1998), Joseph Stiglitz (2001), Paul Krugman (2008), Jean Tirole (2014), Angus Deaton (2015), Richard Thaler (2017).

References

  • 1 Heilbroner, R. L., & William, M. (2008). The Worldly Philosophers: The Lives, Times, and Ideas of the Great Economic Thinkers. Simon & Schuster.
  • 2 Blaug, M. (1997). Economic Theory in Retrospect. Cambridge University Press.
  • 3 Roll, E. (2011). A History of Economic Thought. Prentice Hall.
  • 4 Bhattacharya, S. (2006). Economic Thought in Ancient India. Routledge.
  • 5 Ray, B. (2012). An Introduction to the History of Economic Thought: From Ancient Greece to the Present. Pearson Education India.
  • 6 Bapuji, H. (2014). Economic Thought in Early India. Cambridge University Press India.
  • 7 Ghosh, A. (2017). Economic Thought and Policy in Less Developed India. Cambridge University Press India.
  • 8 Ghosh and Ghosh: Concise History of Economic Thought, Himalaya Publishers.
  • 9 Bagchi, A. K. (2012). Economic Thought in Modern India: In the Light of our National Experience. SAGE Publications India Pvt Ltd.

Reproduced from the University of Mumbai syllabus for M.Com. (Business Economics) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its specialisation. Open a document here if you want the whole thing rather than a single subject.

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