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Basic Course 4: Basic Course in Economics

Semester
F2025
Subject
International Bachelor Study Programme in Social Science
Activity type
Basic course
Teaching language
English
Registration

Students at SIB 2nd semester will be registered for the course automatically

Detailed description of content

The course introduces the students to economics through investigating fundamental concepts, theories and facts. The course is structured to give the students a broad general culture in economics. It is suited for both students who will specialize in other social sciences and students who will specialize in socio-economics. The course is based on a pluralistic approach to economics and therefore gives a good overview of the kind of reflective economics education one can get at RUC. The course use a blended approach between history of ideas (Smith, Marx, Veblen, neoclassical and non-neoclassical approaches to economics) and specific topics (financialization, inequalities, ecological crisis, etc)

The course consists of 11 lectures.

Introduction 1/ Economics, value and prosperity

PART 1: Wealth and Value. The Birth of Economics 2/ Adam Smith and the Rise of Capitalism 3/ The Industrial Revolution and the Gilded Age: Marx, Veblen, and the Critique of Capitalism

PART 2: The Marginalist Revolution and the Rise of Macroeconomics 4/ The Marginalist Revolution and the critique of utilitarianism 5/ The Depression and the Invention of Modern Macroeconomics

PART 3: Economic Growth and Inequality 6/ Stagflation, Monetarism and Inequality 7/ The Rediscovery of Economic Inequality

PART 4: Financialisation and Regulation 8/ Financialisation and Financial Crises 9/ Money and Banks, Credit and Regulation

PART 5: Climate Crisis and Green Economy 10/ Market Failures and Environmental Economics 11/ Planetary Boundaries and Ecological Economics

Conclusion Let a Thousand Flowers Grow: Pluralism in Economics

Expected work effort (ECTS-declaration)

Teaching = 44 hours (group work is integrated into the lectures and do not require specific preparation) Preparation for lectures, i.e. reading = 81 hours Exam preparation= 10 hours Total = 135 hours

Course material and Reading list

The main text for the course is Schneider G. 2021, Economic principles and problems. A pluralist introduction, Routledge.

This book is supplemented by selected articles and chapters made available on Moodle.

Evaluation- and feedback forms

If the final exam if an essay, students have the opportunity to write a mid-term non-graded essay on which the teacher provides individual written or oral feedbacks.

Additionally, the students can get feedback on their final exam upon request to the teacher.

Administration of exams
SIB Registration & Exams (sib-exams@ruc.dk)
Responsible for the activity
Louison Cahen-Fourot (lcahenfo@ruc.dk)
ECTS
5
Learning outcomes and assessment criteria
  • The main objective is teach students micro- and macro-economics in a pluralist manner that engages with mainstream neo-classical economics as well as heterodox theoretical approaches.

  • Students will be able to explain how different theoretical perspectives shape what can be observed and learned.

  • Through providing a pluralist approach to markets and how they work, students will be able to understand and analyse the complex behaviors of consumers, firms and government officials as well as the likely impact of a variety of economic events and policies.

  • Students will gain an understanding of basic macroeconomic measurements and tools and apply these tools to understand selected macroeconomic issues, with a focus on international and European contexts.

Overall content

Economics is the study of how people manage their resources to meet their needs and enhance their well-being. The study of economics within the interdisciplinary social science bachelor degree helps students to better understand many of the policies and outcomes they observe with relation to economic growth, income, inflation, unemployment, quality of the environment, leisure time, perceptions of fairness and justice. With this understanding, students are better able to think about ways that we might be able to improve things, and to participate in current economic and political debates on topics such as economic inequality, the environment, taxes and globalization.

The course is taught in a pluralist manner, covering mainstream Neo-classical economics but also exposing students to other theoretical approaches including Institutional, Evolutionary, Post-Keynesian, and Ecological economics, among others. It also teaches students how to put these multiple theoretical approaches in historical context, and understand the important ideas of key economic thinkers.

Teaching and working methods

The course consists of both lectures and seminars. As part of the course, the students will participate in group work.

Type of activity

Mandatory course

Form of examination
The exam is an individual sit in exam that consists of two parts.

The first part is a multiple-choice test and the second part is a written assignment(s) or questions given by the lecturer.

The assessment is an overall assessment of both parts.

The character limit of the individual written assignment is maximum 2,400 characters including spaces.
The character limit includes the cover, table of contents, bibliography, figures and other illustrations, but exclude any appendices.

The duration of the exam: 3 hours.

Permitted support and preparation materials for the exam: None.

Assessment: 7-point grading scale.
Form of Re-examination
Samme som ordinær eksamen / same form as ordinary exam
Exam code(s)
Exam code(s) : U27158
Last changed 09/10/2024

lecture list: