ECONOMIC THEORY INTRODUCTION TO ECONOMIC THEORY OUTLINE

ECONOMIC THEORY INTRODUCTION TO ECONOMIC THEORY

OUTLINE • Subject and Method of Economic Theory • Bases of public production

Contents • History, structure of discipline. • Interrelation of “Economic Theory”, “Political Economy”, “Economics”. • Subject of Economic Theory. • General economic categories: needs, economic welfares, scarcity of resources, opportunity costs, production possibility curve. • Method of Economic Theory: formal logics, materialistic dialectics, economic models and experiments. Economic categories and laws. • Positive and normative economics. • Functions of economic theory: cognitive, practical, growing up. Economic theory and economic policy. •

Terms and categories • • Needs. Wants. Economic welfares. Scarcity of resources. Opportunity costs. Production possibility curve. Political Economy. Economics.

Themes of course work (papers). • Al -Farabi and economic thought in Orient. • Origin of economic thought development. • Economic thought in Kazakhstan

History, structure of discipline • • Xenophon (430 - 354 BC) Aristotle (384 -322 BC) Plato (427 -347 BC) Al-Farabi-“ Aristotle of Orient ” , The Second Teacher (c. 872 in Fārāb – between 14 December, 950 and 12 January, 951)

Mercantilism and “physiocrats”. • David Hume (1711 -1776) • Philipp Wilhelm von Hornick (1640 -1712) • Anne-Robert-Jacques Turgot, Baron de Laune (1727 – 1781) • Franзois Quesnay (1694– 1774).

Classical political economy • Adam Smith (1723 – 1790) • David Ricardo (1772 – 1823)

The Marxist school of economic thought • German economist Karl Marx (1818 – 1883)

Neoclassical economics • • William Stanley Jevons Carl Menger Leon Walras Alfred Marshall

Keynesian and New-Keynesian economics • John Maynard Keynes • Joan Robinson • N. Gregory Mankiw • David Romer • Michael Woodford's

Assignment: • • Write synopsis on ancient economic thoughts and representatives. • Write synopsis on classical political economy’s nature, representatives and economic thoughts. • Write synopsis on neo classical economics’ nature, representatives and economic thoughts. • Be ready to participate in discussion on origins and development of economic thought.

Development of Economic Thought and Economic Theory in Kazakhstan • Baishev Saktagan Baishevich (1909 -1982) • Ashimbaev Tuimebai Ashimbaevich (1918 -1995) • Nazarbayev Noursultan Abishevich • Aubakirov Yahiya Aubakirovich (1925 -2008) • Amanzhol Koshanovichu Koshanov • Sagadiev Kezhegali Abenovich

Казахстанцы счастливее россиян • World Happiness Report в своем новом докладе заявил о том, что Казахстан поднялся на две строчки по сравнению с прошлым годом и занял 57 место в рейтинге самых счастливых стран мира, уступив Парагваю, Перу и Малайзии.

The Institute of Economics of the Ministry of Education and Science of Republic Kazakhstan

Assignment: • Write synopsis on Kazakhstani economic thought before soviet time. • Write synopsis on Kazakhstani economic thought in the sovereign Kazakhstan. • Be ready to participate in discussion on Kazakhstani economic thought development.