Foundation course:
Economics
Katarzyna Krajniewska and
Derek Gibson
FP0002
2013
This guide was prepared for the University of London International Programmes by:
K. Krajniewska, The London School of Economics and Political Science
D. Gibson, The London School of Economics and Political Science
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ECONOMICS
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Contents
Introduction to the course............................................................................1
Unit 1: The nature and scope of economics
Introduction to Unit 1......................................................................................................................7
Section 1.1: A brief history of economic thought..........................................................9
Section 1.2: The basic economic problem and how different societies have attempted to solve it........................................................................................................14
Section
References: Kuran, T. Islam and Mammon. (Princeton: Princton Univesity Press, 2005) [ISBN 97806911262996]. The Economist Pocket world in figures. (London: Economist Books, 2012) [ISBN 9781846684739] Unit 1: The nature and scope of economics undue value upon his own ideas’ (Pattison, 1885, p.78). It is no secret that the British economist John Maynard Keynes, who is considered to be one of the most influential economists of Aristotle, 1948, p.27 Until the 18th century, this was the most concise piece of writing describing the function of