Description

Taken as a whole, contemporary economics contains an exciting diversity of approaches. This unit explores the main schools of thought in current economics to provide an overview of the whole field of economic thinking, an appreciation of the wide range of approaches, and an understanding of what each approach has to offer. The schools of thought to be discussed will be drawn from a set including neoclassical economics, Austrian economics, Post Keynesian economics, institutional economics, behavioural economics and radical economics. Each perspective will be examined in relation to its conceptual foundations, methodologies, primary characteristics and strengths and weaknesses. The unit seeks to broaden and deepen understanding of the nature and tools of economics and to keep students abreast of major intellectual developments in the field.