ECON 399 Outline 2009/10 Winter

COURSE NUMBER:

ECON 399

COURSE TITLE:

Special Topics in Economics - 2009/10 Winter - Behind the Market: Property, Value, Exchange

NAME OF INSTRUCTOR:

Michael DeMoor

CREDIT WEIGHT AND WEEKLY TIME DISTRIBUTION:

credits 3(hrs lect 3 - hrs sem 0 - hrs lab 0)

COURSE DESCRIPTION:

A course on a topic of figure of special interest to a member of the economics faculty and offered on a non-recurring basis.

Prerequisites: ECON 203

2009/10 Winter

This course explores different understandings of the nature of and possibilities for wisely using markets by examining different approaches to some of its fundamental structures, viz. private property, value and exchange. In particular, this course seeks to “get behind” the taken-for-granted meanings of these phenomena and to question their constitutive and normative bases. It will ask such questions as: what does it mean to own something? What is the foundation of value? How do exchange relations relate to other human activities and comportments (such as moral valuation and judgment, political citizenship, interactions with the natural world, religious commitment)? The aim is to develop a critical and Christian view of the constitutive and normative foundations of the market. To achieve this, the course will begin by investigating how earlier thinking about property, value and exchange developed, particularly in the work of some “classical economists”. It will then turn to contemporary considerations, particularly to attempts to (re)think property and exchange relations in the light of contemporary issues such as global poverty, social cohesion and environmental degradation.

REQUIRED TEXTS:

Reader (possibly 2) including selections from Adam Smith’s Wealth of Nations, Marx’s Capital, Vol. 1, Polanyi’s The Great Transformation; and various selections from more recent economic thinkers.

MARK DISTRIBUTION IN PERCENT:

Course Participation	10%
Presentation	10%
Paper 1 (6-8 pages)	30%
Paper 2 (6-8 pages)	30%
Final Examination	20%

	100%

COURSE OBJECTIVES:

Familiarity with the key ideas and themes of classical economic thought
Developing an understanding of the continuing relevance of these themes for understanding and evaluating the workings of modern market economies.
Beginning to critically and Christianly engage economic thought, using it to illuminate the proper place and role of markets in a well ordered, just society.

COURSE OUTLINE:

Jan 5, 7 Intro and Overview
Jan 12, 14 Smith
Jan 19, 21 Smith and IDS
Jan 26, 28 Marx
Feb 2, 4 Marx
Feb 9, 11 Polanyi
Mar 2, 4 Ideal Markets and Market failures
Mar 9, 11 Distributing Justice
Mar 16, 18 Morality and Markets
Mar 23, 25 Markets and Citizenship
Mar 30, Apr 1 Markets and Environment
April 6, 8 Markets and Christianity
April 13, 15 Presentations and Wrap-up

Required texts, assignments, and grade distributions may vary from one offering of this course to the next. Please consult the course instructor for up to date details.