Standard economic analysis treats capitalism as simply the most general form of market economy and, consequently, bases its normative assessment of that economic system on the efficiency properties of markets. This course considers the alternative position that capitalism must be understood as both a political and an economic system and evaluated accordingly. Toward this end, new developments in the economic analysis of information, strategic behavior, and collective choice are applied in studying the central features of capitalist economies. Topics include wealth and class, division of labor and the nature of firms, capital accumulation and unemployment, the role of the state, and possible alternatives to capitalism.
COURSE FORMAT: Discussion Lecture
Level: UG Credit: 1.00 Gen Ed Area & Dept: SBS ECON
Prerequisites: ECON111 and ECON112 or ECON105
Last Updated on MAR-22-1999
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