Introduction to the educational material

The history of economic thought encapsulates the intellectual journey of economic ideas throughout human history. From the foundational economic philosophies of ancient civilizations, such as those found in the works of Aristotle and Plato, to the mercantilist doctrines of the Age of Exploration, and the revolutionary theories of classical economists like Adam Smith, the narrative unfolds across centuries. The Marginalist Revolution challenged classical orthodoxy, leading to neoclassical economics, while the 20th century saw the emergence of Keynesianism, monetarism, and various heterodox schools. This historical trajectory not only mirrors the evolution of economic theories but also reflects societal changes, shaping the diverse perspectives that underpin modern economic thought and policy. Understanding this historical continuum provides essential context for analyzing contemporary economic challenges and the ongoing dialogue within the field.