This course introduces students to heterodox economics. Along with addressing core conceptual issues in defining heterodox economics, we will cover in some detail five heterodox traditions in economics: Marxian Economics, Institutional Economics, Post-Keynesian Economics, Feminist Economics, and Ecological Economics. In the first class meeting, we discuss the structure and goals of the course, as well as the expectations and requirements from the students. In addition, we will discuss the concept of heterodoxy in economics, along with the concepts and key issues in mainstream and neoclassical economics.
Each two of the following ten units are dedicated to one specific heterodox approach. For each of the five approaches, we will discuss the core theory and ideas of the approach in the first unit. For each approach, in the respective second unit we will discuss how this particular school of thought approaches or understands economic inequality. During these discussions, students are encouraged to compare each heterodox approach with the others, as well as with the contemporary mainstream.
By the end of the semester, students should have a clear idea about what heterodox economics is, as well as deeper knowledge on the five schools of thought we will cover. They should be able to identify the strengths and weaknesses of all discussed schools of thought, as well as those of contemporary mainstream economics.

•  Acquire a profound understanding of heterodox economics
•  Critical reflection of core economic concepts and themes
•  Discussion and presentation proficiency
•  Self-dependent learning
•  Contextualisation of economic approaches
•  Analysis of economic policies

Only two excused absences are tolerated.  Students submit an extra home assignment.

• Team presentations
• Group discussion
• Home assignments

There are three portions to students’ grades:

• class participation (35%),
• a team presentation (30%), and
• a team seminar paper (you get to choose!) (35%). 

General understanding of the history of economic thought.

andrea.grisold@wu.ac.at

vw3@wu.ac.at