ECTS - History of Economic Thought

History of Economic Thought (ECON316) Course Detail

Course Name Course Code Season Lecture Hours Application Hours Lab Hours Credit ECTS
History of Economic Thought ECON316 3 0 0 3 4
Pre-requisite Course(s)
Course Language English
Course Type N/A
Course Level Bachelor’s Degree (First Cycle)
Mode of Delivery Face To Face
Learning and Teaching Strategies Lecture, Discussion, Question and Answer.
Course Coordinator
Course Lecturer(s)
  • Asst. Prof. Dr. M. Gürsan Şenalp
Course Assistants
Course Objectives The course is directed mainly to understand the nature of the capitalist economic system. The ideas and approaches of selected scolars on the functioning of the capitalist mode of production shall be focused comparatively.
Course Learning Outcomes The students who succeeded in this course;
  • To understand the basic principles of capitalism
  • To use the required analytical tools to evaluate and comment the capitalist mode of production
  • To compare the labor theory of Value and Utilitarion theory of value
  • To understand the present world by discussing the path of evolution of the capitalist mode of production
Course Content Mercantalism, capitalist development, the development of the classical and the neoclassical theories, the analysis of socialism and the modern economic theories ; Malthusian theories; Ricardian economics; utilitarianism; Karl Marx and the critics of political economics; marginal revolution; Jevons, Menger, Walras, Marshall and Clark and Keynes.

Weekly Subjects and Releated Preparation Studies

Week Subjects Preparation
1 Rationalistic Subjectivism: The economics of Bentham, Say, and Senior Hunt, pp , 110-134
2 The Ideas of William Thompson and Thomas Hodgskin Hunt, pp, 134-153
3 Utilitarianism : Bastiat and Mill Hunt, 154-179
4 Karl Marx : Critique of Classical Economics Hunt, 180-189
5 Karl Marx: Critique of Classical Economics Hunt, 189-198
6 Karl Marx: Critique of Classical Economics Hunt, 198-211
7 Midterm
8 Triumpth of Utilitarianism: Economics of Jevons, Walras and Menger Hunt, 247-50
9 Jevons Hunt, 250-6
10 Menger Hunt, 256-64
11 Walras Hunt, 265-75
12 Neoclassical Theories of the Firm and Income Distribution: Marshall, Clarke and Böhm-Bawerk Hunt, 286-315
13 Thorstein Veblen Hunt, 316-46
14 Theories of Imperialism: Hobson, Luxemburg and Lenin Hunt, 347-70
15 General Review
16 Final Exam


Course Book 1. Hunt, E.K. (1979), İktisadi Düşünceler Tarihi, Ankara: Dost Kitabevi, 2005.
Other Sources 2. Adam Smith. Ulusların Zenginliği, çev. H. Derin, Türkiye İş Bankası Kültür Yayınları, 2006
3. Eric Hobsbawm. Sanayi ve İmparatorluk, Dost: Ankara, 2005

Evaluation System

Requirements Number Percentage of Grade
Attendance/Participation - -
Laboratory - -
Application - -
Field Work - -
Special Course Internship - -
Quizzes/Studio Critics - -
Homework Assignments - -
Presentation 1 15
Project 1 15
Report - -
Seminar - -
Midterms Exams/Midterms Jury 2 20
Final Exam/Final Jury 1 50
Toplam 5 100
Percentage of Semester Work 50
Percentage of Final Work 50
Total 100

Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

The Relation Between Course Learning Competencies and Program Qualifications

# Program Qualifications / Competencies Level of Contribution
1 2 3 4 5
1 Acquiring the skills of understanding, explaining, and using the fundamental concepts and methods of economics X
2 Acquiring the skills of macro level economic analysis X
3 Acquiring the skills of micro level economic analysis X
4 Understanding the formulation and implementation of economic policies at the local, national, regional, and/or global level X
5 Learning different approaches on economic and related issues X
6 Acquiring the quantitative and/or qualitative techniques in economic analysis X
7 Improving the ability to use the modern software, hardware and/or technological devices X
8 Developing intra-disciplinary and inter-disciplinary team work skills X
9 Acquiring an open-minded behavior through encouraging critical analysis, discussions, and/or life-long learning X
10 Adopting work ethic and social responsibility X
11 Developing the skills of communication. X
12 Improving the ability to effectively implement the knowledge and skills in at least one of the following areas: economic policy, public policy, international economic relations, industrial relations, monetary and financial affairs. X

ECTS/Workload Table

Activities Number Duration (Hours) Total Workload
Course Hours (Including Exam Week: 16 x Total Hours) 16 3 48
Special Course Internship
Field Work
Study Hours Out of Class 14 2 28
Presentation/Seminar Prepration
Homework Assignments
Quizzes/Studio Critics
Prepration of Midterm Exams/Midterm Jury 2 15 30
Prepration of Final Exams/Final Jury
Total Workload 106