Philosophical Ideas in Economics

Catalog description

This seminar presents students with an introduction to economics by looking at the diversity of theories within this field. Reading primary texts of major economists, including more than a dozen Nobel laureates, students will learn about rational choice theory, public choice theory, Austrian economics, behavioral economics, and social choice theory. You will study competing definitions of what economics is and what methodology it should follow. Students will also learn about the philosophical origins of key ideas in economics, including utility, rationality, choice, and welfare. In addition, students will participate in a several case students and class debates in which you must apply the concepts learned to contemporary topics in society. No prior courses in economics are required. Reviewing the views expressed in these disagreements will allow students to form their own opinions on major topics in economics where the arguments are largely philosophical. The goal of the overall course is to help students develop a more critical understanding of the assumptions of economics as it is practiced as a social science.