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Seminar in Economics and Commerce A (ECON10002)

Undergraduate level 1Points: 12.5On Campus (Parkville)

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Year of offer2018
Subject levelUndergraduate Level 1
Subject codeECON10002
Availability(Quotas apply)
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

Classical Political Economy and Economic Liberalism

The focus of the subject will be on Classical Political Economy and the inter-play of political and economic ideas. The central figures of this school, Adam Smith, Thomas Robert Malthus, David Ricardo, and Karl Marx, are studied with the purpose of uncovering these ideas and assessing their relevance for the modern world. Particular emphasis is placed on relating the methods, concepts, and conclusions of the classical economists to those of modern mainstream economic theory and contemporary views on the role of the State in economic affairs. Students will be expected to read original works as well as secondary literature.

Intended learning outcomes

On completion of this subject students should be able to:

  • read and understand the primary sources referred to in the subject
  • critically evaluate the ideas of the writers referred to in the subject
  • see that economic ideas and social philosophy are inter-related
  • see contemporary economic and political ideas in historical perspective

Generic skills

  • High level of development: oral communication; written communication; problem solving; interpretation and analysis; critical thinking; evaluation of data and other information; receptiveness to alternative ideas.

  • Moderate level of development: collaborative learning; team work.

  • Some level of development: statistical reasoning; application of theory to practice; sysnthesis of data and other information; use of computer software; accessing data and other information from a range of sources.

Last updated: 11 January 2018