ECON 101: History of Economic Thought

Instructor: Kace Chalmers

Contact Information: chalmers@csus.edu

Prerequisites: ECON 1A and ECON 1B.

Learning during a pandemic: Life absolutely sucks right now. None of us is really okay. We’re all just
pretending.

You most likely know people who have lost their jobs, have tested positive for COVID-19, have been
hospitalized, or perhaps have even died. You all have increased (or possibly decreased) work responsibilities
and increased family care responsibilities—you might be caring for extra people (young and/or old!) right now,
and you are likely facing uncertain job prospects (or have been laid off!).

If you tell me you’re having trouble, I will not judge you or think less of you. I hope you’ll extend me the same
grace.

You never owe me personal information about your health (mental or physical). You are always welcome to
talk to me about things that you’re going through, though. If I can’t help you, I usually know somebody who
can.

If you need extra help, or if you need more time with something, or if you feel like you’re behind or not
understanding everything, do not suffer in silence! Talk to me! I will work with you. I promise.

I want you to learn lots of things from this class, but I primarily want you to stay healthy, balanced, and
grounded during this crisis.

Course Modality: This course is being taught asynchronously with regularly scheduled online office hours. I
am available for consultation via Zoom on Mondays from 11am-12pm and by appointment. Please note that
you are NOT required, at any time, to use your webcam or live video to participate fully in this course
(although, on a personal note, it would be nice to see your faces because I miss seeing people other than my
own family!)

Student Hours: Mondays 11am-12pm and by appointment at Zoom address or at the URL: https://
csus.zoom.us

Student hours are set times dedicated to all of you (most professors call these “office hours”; I don’t1 ). This
means that I will be in my office at home (wistfully) waiting for you to come by talk to me remotely with
whatever questions you have. This is the best and easiest way to find me and the best chance for discussing
class material and concerns.

Perhaps this video explains it best: https://vimeo.com/270014784

Course Description: Beginning with ancient civilizations, this class will progress historically to the present
day, taking a broad view of what constitutes “economic thought,” (e.g., a mixture of institutional, philosophical,
policy-oriented and “purely” theoretical). We will put this thinking into a general historical context of human
affairs (political, religious, social, and scientific), noting major ideas and thinkers, emphasizing some thinkers
more than is common, and sometimes going off the beaten track.

Course Objectives:
By the end of this course, students will be able to...
1). trace the origins of economic thought in the ancient world and its influence on subsequent schools of
thought, including the scholastics and the emergence of early modern (classical) economics.
2). discuss the links between the evolution of Western economies and the emergence of economics as a distinct
discipline of study.
3). define and discuss the mercantilist, early institutionalist, and heterodox schools of economics, including
Marxian theory, which have challenged mainstream economics.
4). trace the development of neoclassical marginalism, and to identify the areas of agreement and disagreement
between the classical and neoclassical approaches in economics.
5). discuss the historical context and content of the Keynesian revolution, as well as the subsequent
developments and criticisms of Keynesianism.

Course Materials:
REQUIRED: Ekelund/Hebert. A History of Economic Theory and Method, 6e. Waveland Press. ISBN: 978-
1-4786-0638-3

RECOMMENDED: Heilbroner, The Worldly Philosophers. Backhouse, The Ordinary Business of Life.
Buchholz, New Ideas from Dead Economists

Attendance Policy: Because this course is being taught asynchronously, I will not be taking regular attendance
nor will you be penalized for not attending weekly office hours; however, your participation in office hours is
*highly* recommended if you want to do well in this course. If you become sick, then you must let me know
AS SOON AS POSSIBLE so that I can adjust deadlines for assignments as appropriate.

Grading Policy:
This class will be out of 200 points total. These points will be earned by your performance on a series of timed
reading comprehension quizzes administered through the Canvas website. You will only have ONE chance to
take each exam and I will NOT be sharing the correct answers if you missed a question in an attempt to keep
coordinated cheating to a minimum. Please be sure you have 10-15 uninterrupted minutes before you start
taking these exams so you do not miss your opportunity to take them.

There are 20 of these quizzes in total, one for each of the modules in the course. Each module will be worth 10
points for a total of 200 points.You will earn the corresponding percentage of those 10 possible points that you
scored on your individual reading exam. For example, if you scored 90% on the JB Say quiz, then you would
earn 90% of the 10 points that quiz was worth, or 9.0 points. At semester’s end, I will sum up your points from
those quizzes to determine your final grade out of 200 points.

Credit Hour Policy

ECON 101 is a 3-unit course, meaning that in a regular semester, you would be expected to spend 3 hours per
week in class on-campus. The University's Credit Hour Policy states that for an undergraduate course, the
expectation is that for every hour a student spends in class, it is expected that they are spending up to 2 hours
outside of class in activities related to their coursework (reading, completing assignments, etc). This means for
a 3-unit course, you are expected to spend up to 9 hours weekly in activities related to ECON 101. While we
are engaged in online instruction, this means that lecture some weeks may be longer than others. I encourage
you to plan accordingly.

Guide to Your Grade in this Course:

 Exemplary achievement of the course objectives. In addition to being clearly and significantly
A
above the requirements, work exhibited is of an independent, creative, contributory nature.
Superior achievement of the course objectives. The performance is clearly and significantly
B
above the satisfactory fulfillment of course requirements
Satisfactory achievement of the course objectives. The student is now prepared for advanced
C
work or study.
Unsatisfactory achievement of course objectives, yet achievement of a sufficient proportion of the
D objectives so that it is not necessary to repeat the course unless required to do so by the academic
department
Unsatisfactory achievement of course objectives to an extent that the student must repeat the
F
course to receive credit
Withdrawal Unauthorized indicates that an enrolled student did not withdraw from the course and
also failed to complete course requirements. It is used when, in the opinion of the instructor,
WU
completed assignments or course activities (or both), were insufficient to make normal evaluation
of academic performance possible.

Health & Safety Information: If you are sick, please stay home and notify me as soon as possible. Please
self-diagnose if you are experiencing any COVID-like symptoms (fever, cough, sore throat, muscle aches, loss
of smell or taste, nausea, diarrhea, or headache) or have had exposure to someone who has tested positive for
COVID. Contact Student Health and Counseling Services (SHCS) at 916-278-6461 to receive guidance and/or
medical care. You are asked to report any possible COVID related illnesses/exposures to SHCS via this link
(LINK). Expect a call from SHCS within 24 hours. The CDC provides a good source of information regarding
COVID-19 and a way to self-check symptoms, https://www.cdc.gov/coronavirus/2019-ncov/index.html

Zoom Netiquette: Online office hour Zoom links are posted in the course calendar on Canvas. You are NOT
required to use your webcam for this course, but if you choose to do so, please try to eliminate as much
background noise as possible for others' sake. I expect you to behave online as you would if you were attending
an in-person class which is to say, be fully dressed and to treat others consistent with the Hornet Honor Code.
https://www.csus.edu/student-affairs/_internal/_documents/hornet-honor-code.pdf

Campus Support:
Services to Students with Disabilities (SSWD) offers a wide range of accommodation services that ensure
students with disabilities have equal access and opportunity to pursue their education goals. If you have a
physical or learning disability that requires accommodation, please let me know as soon as possible and contact
Services to Students with Disabilities at (916) 278-6955 or https://www.csus.edu/student-affairs/centers-
programs/services-students-disabilities/ to get the proper documentation. Please note that legally, I cannot
provide you accommodation without this documentation.

Life at Sac State can be complicated and challenging (especially during a pandemic!). You might feel
overwhelmed, experience anxiety or depression, or struggle with relationships or family responsibilities.
Student Health and Counseling Services provides free, confidential support for students who are struggling
with mental health and emotional challenges. SHCS is staffed by professional psychologists who are attuned to
the needs of all types of college and professional students. Please do not hesitate to contact them for
assistance—getting help is a smart and courageous thing to do. Though many students may be away from
campus, most services are offered using secure remote technology. You can find more information here:
https://www.csus.edu/student-life/health-counseling/

If you have difficulty affording groceries or accessing sufficient food to eat every day, or if you lack a safe and
stable place to live, and you believe this may affect your performance in this course, please contact the CARES
Office. They provide case management support for any enrolled student. Email the CARES Office at
cares@csus.edu to speak with a case manager about the resources available to you. Additionally, please talk to
me if you are comfortable in doing so. This will enable me to provide any resources that I might possess.

College of Social Sciences and Interdisciplinary Studies (SSIS) Student Success Center has faculty and
college advisors to help with both general education and major-specific questions about progress to
degree. You can find more information about it here: https://www.csus.edu/college/social-sciences-
interdisciplinary-studies/student-success-center/

If you are struggling with access to resources to help you during this time of remote learning, you can check out
laptops, web cams, etc. from IRT and you can access Wi-Fi hotspots on campus. I have to assist you in
checking out a laptop, but you can read more about the process here: https://www.csus.edu/information-
resources-technology/teaching-learning/laptop-checkout.html

And here is where you can find Wi-Fi hotspots on campus: https://www.csus.edu/information-resources-
technology/networking-infrastructure/covid19-internet-resources.html

Other resources to help you feel connected during this time include:
https://www.csus.edu/student-affairs/centers-programs/mlk-scholars/
https://www.csus.edu/student-affairs/centers-programs/diversity-inclusion/multicultural-center.html
https://www.csus.edu/student-affairs/centers-programs/dreamer-resource-center/
https://www.csus.edu/college/health-human-services/student-success/
https://www.csus.edu/student-life/academic-advising/
https://www.csus.edu/student-affairs/centers-programs/peer-academic-resource/
https://www.csus.edu/undergraduate-studies/writing-program/reading-writing-center.html

Academic Policies you should know:

https://www.csus.edu/umanual/acad/umg05150.htm
https://catalog.csus.edu/academic-calendar/
https://www.csus.edu/student-affairs/_internal/_documents/hornet-honor-code.pdf
https://www.csus.edu/umanual/student/stu-0119.htm

Course Summary:
Date Details Due
Mon Aug 30, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Readings on Scientific Idea Transfer NOT IN
due by 11:59pm
YOUR TEXTBOOK!
Wed Sep 1, 2021 Assignment Ancient Greece textbook reading due by 11:59pm
Assignment Ekelund/Hebert CH 1 due by 11:59pm
Sun Sep 5, 2021 Assignment Intro Quiz due by 11:59pm
Wed Sep 8, 2021 Assignment Biblical Readings NOT IN YOUR
due by 11:59pm
TEXTBOOK!!
Sun Sep 12, 2021 Assignment Ancient Greece Quiz due by 11:59pm
Assignment Scientific Idea Transfer Quiz due by 11:59pm
Mon Sep 13, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Early Christian Church textbook reading due by 11:59pm
 Date Details Due
Wed Sep 15, 2021 Assignment Arab-Islamic textbook reading due by 11:59pm
Sun Sep 19, 2021 Assignment Ancient Israel Quiz due by 11:59pm
Mon Sep 20, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Scholastic textbook reading due by 11:59pm
Sun Sep 26, 2021 Assignment Arab-Islamic Quiz due by 11:59pm
Assignment Early Church Quiz due by 11:59pm
Mon Sep 27, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Mercantilism textbook readings due by 11:59pm
Sun Oct 3, 2021 Assignment Scholastics Quiz due by 11:59pm
Mon Oct 4, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Physiocrats textbook reading due by 11:59pm
Sun Oct 10, 2021 Assignment Mercantilist Quiz due by 11:59pm
Assignment Physiocrats Quiz due by 11:59pm
Mon Oct 11, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Adam Smith textbook reading due by 11:59pm
Mon Oct 18, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Sun Oct 24, 2021 Assignment Adam Smith Quiz due by 11:59pm
Mon Oct 25, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Jean Baptiste Say textbook reading due by 11:59pm
Wed Oct 27, 2021 Assignment Malthus textbook reading due by 11:59pm
Sun Oct 31, 2021 Assignment J.B. Say Quiz due by 11:59pm
Mon Nov 1, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment David Ricardo textbook reading due by 11:59pm
Wed Nov 3, 2021 Assignment Jeremy Bentham textbook reading due by 11:59pm
Assignment John Stuart Mill textbook reading due by 11:59pm
Sun Nov 7, 2021 Assignment Malthus Quiz due by 11:59pm
Assignment Ricardo Quiz due by 11:59pm
Mon Nov 8, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Karl Marx textbook reading due by 11:59pm
Sun Nov 14, 2021 Assignment Marx Quiz due by 11:59pm
Assignment Mill Quiz due by 11:59pm
Mon Nov 15, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Cournot & Dupuit textbook reading due by 11:59pm
Wed Nov 17, 2021 Assignment Early Austrian School textbook reading due by 11:59pm
 Date Details Due
Sun Nov 21, 2021 Assignment Cournot/Dupuit Quiz due by 11:59pm
Mon Nov 22, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Jevons & Clark textbook reading due by 11:59pm
Wed Nov 24, 2021 Assignment German Historicism textbook reading due by 11:59pm
Sun Nov 28, 2021 Assignment Austrian School Quiz due by 11:59pm
Assignment Jevons/Clark Quiz due by 11:59pm
Mon Nov 29, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment American Institutionalism textbook reading due by 11:59pm
Wed Dec 1, 2021 Assignment Alfred Marshall textbook reading due by 11:59pm
Sun Dec 5, 2021 Assignment Institutionalist Quiz due by 11:59pm
Assignment Keynes Quiz due by 11:59pm
Assignment Marshall Quiz due by 11:59pm
Mon Dec 6, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours
Assignment Keynes textbook reading due by 11:59pm
Mon Dec 13, 2021 Calendar Event ECON101 History Of Econ Thought
11am to 12pm
Weekly Online Office Hours