2. Economic thought in Ancient Greece
This module explores the contribution to economic thought of Aristotle and Plato.
3. Indian economic thought from Kautilya to Gandhi
This module explores the contribution to Indian economic thought of Kautilya, Ranade and Gandhi.
4. Chinese economic thought
This module explores Chinese economic thought with respect to Confucianism, Taoism, Moists and the Legalists.
5. Adam Smith, David Ricardo and classical European economic thought
This module explores the classical European economic thought especially with regards to the elucidation of a theory of value and a labour theory of value. The focus of classical European economic thought is on the accumulation of wealth and the economic mechanisms by which this occurs.
6. The economic thought of Karl Marx
The focus of analysis in this module is the economic thought of Karl Marx with an emphasis on the relationship between Capitalism and the worker.
7. Rise of neoclassical economics
This module evaluates the shift of economic thought from a qualitative perspective to a quantitative one. The emphasis is no longer the accumulation of wealth by society but a shift of focus to the individual.
8. Keynes and the Keynesian revolution
This module focuses on Keynes contribution to economic thought. Keynes challenged the orthodoxy of the day for its failure to adequately account for the mass unemployment which Keynes encountered in the 1930's.
9. Milton Friedman and Monetarism
The Golden Age from 1945 to 1973 during which Keynesian economic policies led to high levels of economic growth and low levels of inflation and unemployment in many countries failed abruptly in the mid to late 1970's with stagflation. This was rising inflation coupled with low levels of economic growth. Policymakers turned their attention to Friedman and Monetarism.
10. Alternative approaches to economic thought
Neo-Classical economics with its Mathematics and Physics background has dominated European economic thought for 100 years. However, now the focus of research is shifting towards the biological aspects of economic activity.