ECC3800 History of economic thought
Faculty of Business and Economics
ECC3800 History of economic thought is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2026 in Semester 1 at Clayton. It has no prerequisites.
- Credit points
- 6
- Offered in 2026
- Semester 1
- Clayton
- Assessment
- No exam
- 2 tasks
- Workload
- 144 hours
- per semester
This is the 2026 handbook entry. See the 2027 entry.
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Overview
This unit involves the study of a series of thinkers whose ideas helped to develop the approaches and tools that make up modern economics: Adam Smith, David Ricardo, Karl Marx, Alfred Marshall, Irving Fisher, John Maynard Keynes, Joseph Schumpeter, Friedrich Hayek, Joan Robinson, Milton Friedman, Douglass North, and Robert Solow. Reference will also be made to the ideas of influential female economists: Mary Paley, Deidre McCloskey, Jane Jacobs, and Elinor Ostrom. In considering the history of these ideas, you will develop informed views about the relative roles of the state and markets in economic life, with particular reference to ongoing challenges such as sustainability, income inequality, intergenerational disadvantage, globalisation and trade. These ideas provide insight into how society can build economies that are resilient, flexible, and less vulnerable to economic fluctuations.
Offerings in 2026
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
Assessment
- Quiz / Test60%
- Exercise40%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
discuss critically how different economists in the past understood and analysed the economic problem
- 2
compare the work on founders of economics such as Adam Smith, David Ricardo, Thomas Malthus, Stanley Jevons, Karl Marx, Alfred Marshall, and others
- 3
discuss critically diverse theories of value, growth, rent, and decline of economic society
- 4
be familiar with primary sources relating to the major writings that shaped the evolution of economic analysis.
Workload and teaching
- Workshops36 hours
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
Yueh, Linda. The Great Economists: How Their Ideas Can Help Us Today. Penguin Books (2018).
Where it fits
ECC3800 is part of 3 areas of study in the 2026 handbook.
Contacts
- Chief Examiners
- Associate Professor Lionel Frost
Common questions
What are the prerequisites for ECC3800?
ECC3800 has no prerequisites.
When is ECC3800 offered?
In 2026, ECC3800 runs in Semester 1 at Clayton.
How much work is ECC3800?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECC3800 have an exam?
No. ECC3800 has 2 assessment tasks and no exam.
Which majors and minors include ECC3800?
ECC3800 is part of Economic analysis; Economics; and Economics and economic policy.