In this Master’s-level course in Heterodox Economics, we will study various dimensions of defining and understanding economics as an academic discipline. Moreover, we will study economic thinking and analysis in terms of various schools of thought and cover the main ideas of a number of different approaches to understanding economics and the economy.

Along with addressing core conceptual issues in defining heterodox economics, we will cover in some detail four heterodox traditions in economics: Marxian Economics, Post-Keynesian Economics, Feminist Economics and Ecological Economics. In the first classes, we discuss the structure and goals of the course, as well as the expectations and requirements from the students. As an introduction, 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 four 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 will have e thorough understanding of heterodox economics, as well as on the four schools of thought we will cover. They will develop their critical thinking skills, and will be able to identify the strengths and weaknesses of all discussed schools of thought, as well as those of contemporary mainstream economics.

You may miss two classes without penalty, but each additional class missed will result in the loss of five points.

There are three portions to students’ grades:

• class participation (35%),
• response papers (30%), and
• a team seminar paper (35%).

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A general understanding of the history of economic thought is of advantage.