Frank Roosevelt

Required Books (available in the SLC Bookstore):

Frank Mastrianna and Tomas Hailstones, Basic Economics (14th edition)

Samuel Bowles, Richard Edwards, and Frank Roosevelt, Understanding Capitalism: Competition, Command, and Change (3rd edition)

Gordon Harvey, Writing with Sources: A Guide for Students

Course Requirements: There will be two class papers, six short quizzes, and a "worksheet essay" at the end of the semester. There will also be writing (10 pages minimum) based on conference work. Prompt attendance is required at all classes, and participation in class discussion is expected.

COURSE OUTLINE

A.  Alternative perspectives in contemporary economics  (approx. 4 weeks)

(1)  Mainstream economics
Mastrianna and Hailstones, Basic Economics (hereafter “MH”), Chs. 1, 2, and 8
Video:  Milton Friedman, “Free to Choose: The Power of the Market ”
Friedman, Milton, Capitalism and Freedom, Chs. I and II (on reserve)
Hahnel, Robin, The ABCs of Political Economy, Ch. 10  (on reserve)
1st quiz

(2)  Radical economics: a three-dimensional approach
Bowles, Edwards, Roosevelt, Understanding Capitalism (hereafter “BER”), Chs. 1 through 6
2nd quiz

B.  American capitalism: profit-seeking, accumulation, and the role of government   (approx. 2 weeks)

MH, Chs. 3 and 9
Economic Report of the President-2005 (available at http://gpoaccess.gov/eop/download.html), Ch. 5, pp. 117-127
BER, Chs. 7, 10, and 19

First writing assignment  (5-7 pages, typed, double-spaced, due ___ ):

Either: Write an imaginary dialogue between Samuel Bowles et al. (“Sam”), on the one hand, and Frank Mastrianna and his coauthor (“Frank”), on the other, on what the study of an economy involves.

Or:  Compare and contrast the ways in which Bowles et al., on the one hand, and Mastrianna and Hailstones, on the other, do economics.

MH, Ch. 4
BER, Chs. 8 and 9

D.  Microeconomics: firms, consumers, and workers  (approx. 5 weeks)

(1)  The mainstream theory of the firm
MH, Chs. 5 and 6
Video:  “The Firm: How Can It Keep Costs Down?” (from the “Economics USA” series)
3rd quiz

(2)  The three-dimensional theory of the firm
BER, Chs. 12 and 13
Video: “The Corporation” - by Achbar, Abbott, and Bakan
4th quiz

Second writing assignment (5-7 pages, typed, double-spaced, due  ___ ):

Compare and contrast the mainstream and three-dimensional approaches to representing and analyzing the operations of a capitalist firm (corporation).

(3) “Imperfect competition”
MH, Ch. 7
BER, Ch. 11
Baran, Paul, “A Marxist View of Consumer Sovereignty” (on reserve)

(4)  The distribution of income and wealth
Friedman, Milton, Capitalism and Freedom, Ch. X (on reserve)
MH, Ch. 14
BER, Chs. 14 and 15

E.  Macroeconomics: employment, inflation, and growth  (approx. 3 weeks)

(1)  Mainstream macroeconomics
BER, Ch. 4, pp. 80-83 (review)
Video: “J. M. Keynes: What Did We Learn from the Great Depression?” (from the “Economics USA” series)
MH, Chs. 12 and 13
5th quiz

(2)  Three-dimensional macroeconomics
BER, Chs. 16, 17, and 18
6th quiz

FINAL ASSIGNMENT (3-5 pages, typed, double-spaced, due in last class):

Write a worksheet essay, to be attached to your student worksheet (to be provided by the instructor), reviewing, summarizing and reflecting on what you have learned in this course this semester.

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