ECOS3004: Semester 2, 2022

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Units ECOS3004 Semester 2 2022 [Normal day]

Unit of study_

ECOS3004: History of Economic Thought

Semester 2, 2022 [Normal day] - Remote

Overview

Where do the current beliefs - theories, doctrines, postulates and attitudes - of modern economics come from? If current theories and doctrines have a definite historical beginning, what schools of thought did they supplant? Are there alternative or dissident views which subsisted alongside mainstream economics in the twentieth century - and if so, what are they and where did they originate from? This unit seeks to answer these questions, as well as others. It provides an overview of the development of economic ideas from the seventeenth to the twentieth century, combined with a more intensive focus on the thought of certain key figures in that history. The particular topics covered include: the formation of economics to 1776; Adam Smith; classical economics from Smith to J.S. Mill; the rise of marginalist economics; John Maynard Keynes; and orthodox and heterodox currents in twentieth century economics.

Unit details and rules

Unit code	ECOS3004
Academic unit	Economics
Credit points	6
Prohibitions ?	None
Prerequisites ?	ECOS2001 or ECOS2901 or ECOS2002 or ECOS2902 or ECOP2011 or ECOP2001 or ECOP2012 or ECOP2002
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Matthew Smith, matthew.smith@sydney.edu.au
Lecturer(s)	Tony Aspromourgos, tony.aspromourgos@sydney.edu.au

Type	Description	Weight	Due	Length
Final exam (Open book)	Final exam Online via Canvas Essay exam	50%	Formal exam period	1.5 hours
Outcomes assessed:
In-semester test (Record+)	Mid-semester test Multiple choice, online via Canvas: Type B recorded using ProctorU Record+	30%	Week 08 Due date: 23 Sep 2022 at 10:00	30 minutes
Outcomes assessed:
Assignment	Essay n/a	20%	Week 09 Due date: 09 Oct 2022 at 11:59 Closing date: 20 Oct 2022	1000 words
Outcomes assessed:
= Type B in-semester exam ? = Type C final exam ?

Assessment summary

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High distinction indicates work of an exceptional standard, a Distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	Excellent work
Distinction	75 - 84	Very good work
Credit	65 - 74	Above average work
Pass	50 - 64	Average work
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	Formation of Economic Science	Lecture (3 hr)
Week 02	Formation of economic science/Classical Political Economy	Lecture (3 hr)
Week 03	Classical political economy	Lecture and tutorial (3 hr)
Week 04	Classical political economy	Lecture (3 hr)
Week 05	Classical political economy	Lecture and tutorial (3 hr)
Week 06	Classical political economy/ Marginalist Economics	Lecture (3 hr)
Week 07	Marginalist economics	Lecture and tutorial (3 hr)
Week 09	Marginalist economics	Lecture and tutorial (3 hr)
Week 10	Marginalist economics	Lecture (3 hr)
Week 11	Keynesian Economics	Lecture and tutorial (3 hr)
Week 12	Keynesian economics	Lecture and tutorial (3 hr)
Week 13	Aftermath	Lecture and tutorial (3 hr)

Attendance and class requirements

Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

See Lecture and Reading Guide, in the Canvas site. It provides a comprehenisve and detailed guide to unit content, teaching schedule and readings.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

LO1. use conceptual systems of thought for analysis and diagnosis
LO2. demonstrate skills for the appropriation of knowledge to one's self
LO3. achieve 'critical distance' to enable standing 'outside' such systems and critically test them
LO4. demonstrate critical command of conceptual machineries of thought and analysis.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Extensive feedback, both quantitative and qualitative, has been received from previous student cohorts undertaking this unit. The unit is reviewed and amended continuously in response to this feedback, as well as in light of other considerations.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

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