Teaching plan for the course unit

 

 

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General information

 

Course unit name: History of Economic Thought and Economic Policy

Course unit code: 366729

Academic year: 2025-2026

Coordinator: Francisco Javier San Julian Arrupe

Department: Department of Economic History, Institutions and Policy and World Economy

Credits: 6

Single program: S

 

 

Estimated learning time

Total number of hours 150

 

Face-to-face and/or online activities

60

 

-  Lecture with practical component

Face-to-face

 

45

 

-  Seminar

Face-to-face

 

15

Supervised project

40

Independent learning

50

 

 

Recommendations

 

  • World Economic History
  • Microeconomics
  • Macroeconomics
  • Economic Policy

 

 

Competences / Learning outcomes to be gained during study

 

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Capacity for learning and responsibility (capacity for analysis, synthesis, to adopt global perspectives and to apply knowledge in practice, and capacity to take decisions and adapt to new situations).

   -

Communication skills (capacity to understand and produce spoken and written Catalan, Spanish and a third language, including the comprehension and use of specialized terminology, and capacity to research, use and integrate information in these languages).

   -

Capacity to prepare, analyse and interpret economic information.

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Understanding of the history and development of economic ideas and of current economic realities in different territorial settings.

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  • Ability to prepare, analyse and interpret economic information. This competency includes: ability to obtain, process and analyse data leading to the presentation of economic information, both internal and external, from public and private entities. Ability to interpret an economic report from an economic organisation. Ability to correctly interpret charts, economic indices and their derived representations, and to produce both written and oral reports. Ability to interpret, analyse and carry out financial and investment operations.
  • Ability to appreciate the history and development of economic ideas, as well as current economic realities in different territorial contexts. This competency includes: knowledge of the various economic doctrines used by economists, past and present, and an understanding of their analytical foundations. Knowledge and understanding of relevant economic events from a historical perspective in order to explain the processes that have led to the present situation. Knowledge of the current economic realities of Catalonia, Spain and the wider world, and the ability to analyse them.
  • Ability to use physical and digital bibliographic resources.
  • Ability to apply acquired knowledge and analytical skills to problem-solving in academic and professional contexts.
  • Ethical commitment (capacity for critical and self-critical thinking/capacity to demonstrate attitudes consistent with ethical and professional principles).
  • Learning and responsibility (capacity for analysis, synthesis, global perspectives, and the application of knowledge in practice/capacity for decision-making and adaptation to new situations).
  • Sustainability (capacity to assess the social and environmental impact of actions within one’s field/ capacity to express integrated and systemic perspectives).
  • Ability to operate in globalised environments. This competency includes: ability to analyse international markets and organisations. Ability to assess the importance and implications of the development of functional areas and internationalisation strategies of organisations. Ability to identify and evaluate public and private actions aimed at facilitating the integration of entities into a globalised environment. Understanding of the implications of government policies designed to promote business competitiveness and internationalisation.
  • Ability to interpret complexity, diversity and pluralism as the foundation of inclusive and democratic societies.
  • Ability to interpret economic phenomena from the perspective of political economy, including the ability to identify and understand economic institutions and their functioning within specific historical, ideological and political contexts, recognising the underlying dynamics of power.

 

 

Learning objectives

 

Referring to knowledge

  • Acquire a comprehensive understanding of the history of economic thought and of the main schools of economic analysis.
  • Analyse the influence of the various schools of economic thought on economic policy measures adopted throughout history, on subsequent stages of economic thinking, and, most importantly, on contemporary economic thought.
  • Identify the origins of economic theory covered in the Economics degree, describe the characteristics of the dominant paradigms (hypotheses, concepts, and worldviews), and present the most relevant heterodox alternatives.
  • Develop the ability to critically reflect on the major challenges of economic policy and the tools available to address them.


Skills
  • Apply the language, reasoning, and analytical tools of economics to the study of economic ideas across history.
  • Identify and distinguish between different economic schools of thought and recognize the continuity of ideas over time.
  • Acquire the tools necessary for the critical assessment of economic policies, both in their design and implementation.
  • Use and interpret information and data sources relevant to the analysis of government policies, understanding their structure and presentation at different levels of public decision-making.
  • Communicate economic ideas effectively, reporting and debating policy issues with confidence.
  • Strengthen oral communication and teamwork skills through class participation and collaborative work.
  • Apply acquired knowledge and skills to solve applied economic problems, particularly those involving public intervention.


Attitudes, values and norms
  • Cultivate a responsible attitude toward learning and continuous academic development.
  • Understand that economic policy involves managing the economic dimension of political and social conflict.
  • Recognize that economic policy decisions are inherently linked to ethical principles and value judgements.
  • Acknowledge that the objectives of economic policy must align with environmental sustainability.
  • Evaluate the design and implementation of economic policies from a gender perspective.

 

 

Teaching blocks

 

1. Introduction

1.1. Relevance of the history of economic thought. Approaches to the history of economic thought: rational and historical reconstructions

1.2. Fundamentals of economic policy decisions. Conflict management and complexity in economic policy

2. Pre-scientific economic knowledge and the origins of economic policy

2.1. Scholastic thought. Property, fair price and interest

2.2. Mercantilism. Trade policy of nation states

2.3. Pre-classical political economy. Physiocracy and the doctrine of laissez-faire

3. The Classical school and economic policy in the industrial era

3.1. Adam Smith. The State agenda and economic growth policies

3.2. The Malthusian theory of population growth. The distributive policy of the poor laws

3.3. Theories of value, distribution and Ricardian international trade. The nineteenth-century debate between free trade and protectionism

3.4. Marx and Marxism

4. The construction of modern economics

4.1. The marginal revolution and the birth of neoclassical economics. Efficient market allocation

4.2. Alternative schools of though: historicism and institutionalism. Normative economics and state intervention

4.3. The Austrian school Schumpeter: economic cycles and innovation

5. Keynes and economic policy in the interwar years

5.1. The interwar period. Economic policy of the Soviet Union. Alternative approaches

5.2. The 1929 stock market crash and the New Deal

5.3. Keynes’s General Theory and government intervention. Full employment as an objective

6. Keynesianism and economic policy after the Second World War

6.1. The Keynesian revolution and the neoclassical synthesis

6.2. Direct government intervention: fiscal policy, the welfare state, redistribution and new trade policy

6.3. The crisis of Keynesian policies

7. Liberal reaction and economic policy of the late twentieth century

7.1. Monetarism. The 1970s energy crisis and the neoliberal turn in economic policy

7.2. The Washington Consensus and the expansion of the neoliberal agenda. New classical economics and imperialism in neoclassical economics

7.3. The role of economic policy in the era of globalization and financialization

8. The post-Keynesian school and its influence on economic policy in the 21st century

8.1. Main characteristics of the post-Keynesian school

8.2. Expansionary policies in 2008 and 2020. The role of the deficit, the limits of monetary policy and modern monetary theory

8.3. The crisis of the mainstream and the rise of new heterodoxies: ecological economics and feminist economics

 

 

Teaching methods and general organization

 

Teaching methodology

  • Theoretical explanations: emphasis on active student participation.
  • Pluralist approach.
  • Comprehensive reading of academic texts and current economic news.
  • Debates aimed at gaining in-depth understanding of texts, promoting collective learning and critical thinking, and improving communication skills.
  • Encouragement of equal participation, taking into account diversity among students.
  • Teamwork.
  • Promotion of self-awareness in the learning process.
  • Gradual consolidation of understanding as means of avoiding rote learning. 
  • Flexibility so as to allow students to adapt their work according to their interest in the subject.
  • Innovative teaching methods: role-play, problem-based learning linked to practical and real economic contexts. 


On-campus activities

The methodology of on-campus activities combines lectures and practical sessions.
  • Lectures: analysis of the main theoretical concepts (45 hours).
  • Practical sessions: presentation and discussion of texts, analysis of economic problems and continuous assessment activities (15 hours).


Off-campus activities
  • Independent learning activities and assimilation of course content (50 hours).
  • Directed work in preparation for class discussion of reading material, problem analysis and other activities, and study for the continuous assessment and final exams (40 hours).


As part of the Teaching Quality Improvement Project implemented in the Faculty of Economics and Business (promoted by the Research, Innovation and Teaching and Learning Improvement [RIMDA] unit and the Office of the Vice-Rector for Teaching and Academic Planning), the teaching methodology used in some groups may differ slightly from that described above. Details of any such variations will be published on the Virtual Campus at the beginning of the semester.

 

 

Official assessment of learning outcomes

 

Continuous assessment

Continuous assessment consists of the following activities:

— Continuous assessment activities, worth 50% of the final grade.

— A final exam, worth 50% of the final grade. A minimum mark of 4 in this exam is required to pass the subject.

Repeat assessment adheres to the same procedure and criteria as the final examination for the continuous mode of assessment. In this case, the exam is worth 100% of the final grade.

 

Examination-based assessment

Students who do not wish to follow the continuous mode of assessment system may opt for single assessment. Single assessment consists of a compulsory final examination, graded on a 10-point scale and worth 100% of the final grade.

Repeat assessment is offered in accordance with Faculty regulations, on the date established by the Academic Board.

 

 

Reading and study resources

Check availability in Cercabib

Book

RONCAGLIA, Alessandro. La riqueza de las ideas: una historia del pensamiento económico. Zaragoza: Prensas Universitarias de Zaragoza, 2016.

  Course reference textbook

Catāleg UB  Enllaç

FACCARELLO, Gilbert; KURZ, Heinz D. Schools of Thought in Economics. Handbook on the History of Economic Analysis. Cheltenham: Edward Elgar Publishing Ltd, 2016

Catāleg UB  Enllaç

BARBÉ, Lluís. Curs d’introducció a l’ economia. 2a ed. Barcelona: Publicacions de la Universitat Autònoma de Barcelona, 1993

Catāleg UB  Enllaç

BLAUG, Mark. Teoría económica en retrospección. México, D.F.: Fondo de Cultura Económica, 2001

Catāleg UB  Enllaç

DE VROEY, Michel. A History of Macroeconomics from Keynes to Lucas and Beyond. New York, NY: Cambridge University Press, 2015

Catāleg UB  Enllaç

LANDRETH, Harry; COLANDER, David C. Historia del pensamiento económico. 4a ed. Madrid : McGraw-Hill, 2006

Catāleg UB  Enllaç

RONCAGLIA, Alessandro. Breve historia del pensamiento económico. Zaragoza : Prensas Universitarias de Zaragoza, 2017

Catāleg UB  Enllaç

SCHUMPETER, Joseph A. Historia del análisis económico. Barcelona: Ariel, 2012. Reimpressió 2019

Catāleg UB  Enllaç

SNOWDON, Barry; VANE, Howard R. Modern Macroeconomics: its Origins, Development and Current State. Cheltenham: Edward Elgar, 2005

Catāleg UB  Enllaç

RONCAGLIA, Alessandro. La era de la disgregación. Historia del pensamiento económico contemporáneo. Zaragoza, Prensas Universitarias de Zaragoza, 2019

Catāleg UB  Enllaç
http://Versiķ en línia (2019)  Enllaç

ANTUÑANO, Isidro; SÁNCHEZ, Antonio. Política económica. Elaboración y políticas coyunturales. Valencia, Tirant lo Blanch, 2009

CUADRADO, Juan.  Política económica: elaboración, objetivos e instrumentos. 5ª ed. Madrid: McGraw-Hill, DL, 2015.

OCHANDO, Carlos. Políticas económicas coyunturales: objetivos e instrumentos. Valencia: Tirant lo Blanch, 2021.

SÁNCHEZ, Antonio. Introducción a la política económica: concepto, estructura y formación. Valencia: Tirant lo Blanch, 2021

SÁNCHEZ, Antonio. Reflexiones para una teoría de la política económica. La Laguna: Publicaciones Universidad de la Laguna, 2023.

GARCÍA, Andrés; SÁNCHEZ, Antonio. Políticas económicas estructurales y de competitividad. Valencia: Tirant lo Blanch, 2016

PAMPILLÓN, Rafael. Cuando los votantes pierden la paciencia. Casos radicales de política económica. Aravaca: McGraw Hill, 2022

LAVOIE, Marc. Economía Postkeynesiana, Icaria - Antrazyt, 2005