Fred Lee: Econ602 syllabus

A set essay of 3,000 words typed. It is due on September 21, 2005. It is worth 25% of your grade.
Mid-term examination worth 25% of your final grade on October 12, 2005.
A set essay of 5,000 words, typed. It is due on December 5, 2005. It is worth 25% of your grade.
Final exam worth 25% of your final grade – the exam is on Friday, December 16, 2005 from 8.00am – 10.00am.

Announcement:

No class on September 5 and November 23.
No class on November 9, 2005. Make-up will be on November 21 TBA.

Course Description:

The course covers heterodox microeconomic theory. It introduces the student to the historical background and methodology of the theory and then deals with the business enterprise, production and costs, pricing and prices, industry and market, reproduction of the business enterprise, consumer, industrial and government demand, market price and market governance, trade associations, price leadership, government regulation, and the microfoundations of heterodox macroeconomics. The course will also introduce the student to the heterodox disaggregated price-output model of the economy.

LECTURE AND READING OUTLINE

Preview of the Course:
Fred Lee, "Teaching Heterodox Microeconomics", Post Autistic Economic Review, issue No.31, May 16, 2005. [MS-Word version]

Detailed course outline (MS-Word)

Note to students: * denotes required reading. # means the link to the article through UMKC subscribing database. Students can download articles by way of UMKC computers.

I. Introduction to Heterodox Microeconomic Theory

A. History of Heterodox Economics

1. Keller, R. R. 1983. “Keynesian and Institutional Economics: Compatibility and Complementarity?” Journal of Economic Issues 17.4 (December): 1087 – 1095.#

2. Brazelton, W. R. 1981. “Post Keynesian Economics: An Institutional Compatibility?” Journal of Economic Issues 15.2 (June): 531 – 542.#

3. Fusfeld, D. R. 2000. “A Manifesto for Institutional Economics.” Journal of Economic Issues 34.2 (June): 257 – 265.#

4. Rutherford, M. 2000. “Institutionalism Between the Wars.” Journal of Economics Issues 34.2 (June): 291 – 303.#

*5. Samuels, W. J. 2000. “Institutional Economics after One Century.” Journal of Economic Issues 34.2 (June): 305 315.#

6. Hodgson, G. M. 2000. “What is the Essence of Institutional Economics?” Journal of Economic Issues 34.2 (June): 317 – 329.#

*7. O’Boyle, E. J. 1994. “Homo Socio-Economicus: Foundational to Social Economics and the Social Economy.” Review of Social Economy 52.3 (Fall): 286 – 313.

8. Roberts, B. and Feiner, S. (eds.) 1992. Radical Economics. Boston: Kluwer Academic Publishers, chs. 1 and 4.

9. Spencer, D. A. 2000. “The Demise of Radical Political Economics? An Essay on the Evolution of a Theory of Capitalist Production.” Cambridge Journal of Economics 24.5 (September): 543 – 564.#

*10. Lee, F. S. 2000. “The Organizational History of Post Keynesian Economics in America, 1971 – 1995.” Journal of Post Keynesian Economics 23.1 (Fall): 141 – 162.

*11. Lee, F. S. 2001. “Conference of Socialist Economists and the Emergence of Heterodox Economics in Post-War Britain.” Capital and Class 75 (Autumn): 15 – 39.

12. Lee, F. S. 2002. “Mutual Aid and the Making of Heterodox Economics in Postwar America: A Post Keynesian View.” History of Economics Review 35 (Winter): 45 – 62.

*13. Lee, F. S. 2004. “History and Identity: The Case of Radical Economics and Radical Economists, 1945 – 1970.” Review of Radical Political Economics 36.2 (Spring): 177 – 195.

14. O’Hara, P. A. 1995. “The Association for Evolutionary Economics and the Union for Radical Political Economics: General Issues of Continuity and Integration.” Journal of Economic Issues 29.1 (March): 137 – 159.#

15. O’Hara, P. A. (ed.) 1999. Encyclopedia of Political Economy. London: Routledge.

17. Lee, F. S. 2004. “To be a Heterodox Economist: The Contested Landscape of American Economics, 1960s and 70s.” Journal of Economic Issues, 38.3 (September): 747 – 763.

18. Lee, F. S. 2000. “On the Genesis of Post Keynesian Economics: Alfred S. Eichner, Joan Robinson and the Founding of Post Keynesian Economics.” In Research in the History of Economic Thought and Methodology: Twentieth-Century Economics, Vol. 18-C, pp. 1 – 258. Edited by W. Samuels. Amsterdam: JAI/Elsevier.

19. Lawson, Re-orienting Economics, chs. 5, 7, 8, and 9.

*20. Roncaglia, A. 1991. “The Sraffian Schools.” Review of Political Economy 3.2 (April): 187 – 219.

21. Aspromourgos, T. 2004. “Sraffian Research Programmes and Unorthodox Economics.” Review of Political Economy 16.2 (April): 179 – 206.

22. Lee, F. S. and Keen, S. 2004. “The Incoherent Emperor: A Heterodox Critique of Neoclassical Microeconomic Theory.” Review of Social Economy 62.2 (June): 169 – 199.

23. Lee, F. S. 2002. “The Association for Heterodox Economics: Past, Present, and Future.” Journal of Australian Political Economy 50 (December): 29 – 43.

24. Lee, F. S. 2005. “The Contested Landscape of American Economics, 1900 – 1970.” Unpublished.

25. Tymoigne, E. and Lee, F. S. 2003-04. “Post Keynesian Economics since 1936: a history of promise that bounced?” Journal of Post Keynesian Economics 26.2 (Winter): 273 – 288.

26. Lee, F. S. 2005. “The Contested Landscape of American Economics, 1900 – 1970.” Unpublished.

B. The Scope of Heterodox Microeconomics

*1. Bortis, H. 1997. Institutions, Behaviour and Economic Theory: A Contribution to Classical-Keynesian Political Economy. Cambridge: Cambridge University Press, chs. 1, 2, and 5.

*2. Dugger, W. M. 1996. “Redefining Economics: From Market Allocation to Social Provisioning.” In Political Economy for the 21^st Century, pp. 31– 43. Edited by C. Whalen. Armonk: M. E. Sharpe, Inc.

*3. Bortis, H. 1999. “Political Economy, Economics, and Social Sciences.” In The Current State of Economic Science Vol. 1, pp. 17 – 42. Edited by S. B. Dahiya. Spellbound Publications.

*4. Lee, Post Keynesian Price Theory, chs. 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10..

5. Fullbrook, E. (ed.) 2003. The Crisis in Economics: The Post-Autistic Economics Movement: The First 600 Days. London: Routledge, parts II and III.

C. The Methodology of Heterodox Microeconomics

1. Lawson, T. 1994. "The Nature of Post Keynesianism and its Links to other Traditions: a realist perspective." Journal of Post Keynesian Economics 16.4 (Summer): 503 - 538.#

2. Struss, A. and Corbin, J. 1998. “Grounded Theory Methodology: An Overview.” In Strategies of Qualitative Inquiry, pp. 158 – 183. Edited by N. K. Denzin and Y. S. Lincoln. Thousand Oaks: sage Publications.

*3. Wilber, C. K. and Harrison, R. S. 1978. "The Methodological Basis of Institutional Economics: Pattern Model, Storytelling, and Holism." Journal of Economic Issues 12 (March): 61 - 89.

*4. Downward, Applied Economics and the Critical Realist Critique, chs. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, and 14.

5. Holt, R. P. F. and Pressman, S. 2001. A New Guide to Post Keynesian Economics. London: Routledge, ch. 2.

*6. Bortis, H. 1997. Institutions, Behaviour and Economic Theory: A Contribution to Classical-Keynesian Political Economy. Cambridge: Cambridge University Press, chs. 3 and 5.

7. Finch, J. H. 2002. “ The Role of Grounded Theory in Developing Economic Theory.” Journal of Economic Methodology 9.2: 213 – 234.

8. Grounded Theory Institute: http://www.groundedtheory.com/

9. Austen, S., Jefferson, T., and Thein, V. 2003. “Gendered Social Indicators and Grounded Theory.” Feminist Economics 9.1: 1 – 18.

*10. Locke, Grounded Theory in Management Research, chs. 1, 2, 3, 4, 5, 6, and 7.

11. Goulding C. 2002. Grounded Theory. London: SAGE Publications.

12. Weintraub, E. R. 2002. How Economics Became a Mathematical Science. Durham: Duke University, chs. 1, 2, 3, 4, and 5.

13. Lawson, T. 1997. Economics & Reality. London: Routledge.

*14. Lawson, T. 2003. Reorienting Economics. London: Routledge, ch 1 (Four Theses on the state of modern economics and notes) , Ch. 2 (An Ontological Turn in Economics), Ch. 3 (What has realism got to do with it?), Ch. 4(Explanatory Method for Social Science), Ch. 6(Economics as a distinct social science?), and Ch. 10.

15. Lee, F. S. 2002. “Theory Creation and the Methodology Foundation of Post Keynesian Economics.” Cambridge Journal of Economics 26.6 (November): 789 – 804..#

16. Downward, P., Finch, J. H., and Ramsay, J. 2002. “Critical Realism, Empirical Methods and Inference: A Critical Discussion.” Cambridge Journal of Economics 26.4 (July): 481 – 500.#

17. Kaul, N. 2002. “A Critical ‘Post’ to Critical Realism.” Cambridge Journal of Economics 26.6 (November): 709 – 726.#

*18. Spiethoff, A. 1952. “The ‘Historical’ Character of Economic Theories.” The Journal of Economic History 12.2 (Spring): 131 – 139.

19. Levin-Rozalis, M. 2004. “Searching for the Unknowable: A Process of Detection – Abductive Research Generated by Projective Techniques.” International Journal of Qualitative Methods 3.2 (June).

20. Marion, M. 2005. “Sraffa and Wittgenstein: Physicalism and Constructivism.” Review of Political Economy 17.3 (July): 381 – 406./ earlier version of this paper, Cahiers D'Épistemologie, n◦ 2004-11. Départment de philosophie, Université due Quebec à Montréal.

21. Downward, P. and Mearman, A. 2005. “Triangulation in Economic Research: Reorienting Economics into Social Science.” Unpublished.

22. Pratten, S. 2005. “Ontological Interventions in Economics: Comparing Nancy Cartwright and Critical Realism.” Unpublished.

23. Denis, A. 2005. “Dialectics and the Austrian School? The Search for Common Ground in Heterodox Methodology.” Unpublished.

24. The Grounded Theory Review: An International Journal 4.2 (March, 2005).

25. Mearman, A. 2005. “Critical Realism in Economics and Open-Systems Ontology: A Critique.” Unpublished.

26. Mearman, A. 2005. “Open Systems and Economic Methodology.” Unpublished.

27. Brown, A. 2005. “Reorienting Critical Realism: the Actual Essensce of the Capitalist Economy.” Unpublished.

28. Dunn, S. P. and Mearman, A. 2004. “The Realist Approach of J. K. Galbraith.” Unpublished.

D. Structural Organization of Economic Activity: An Overview

1. Leontief, W. 1986. Input-Output Economics. New York: Oxford University Press, chapters 1-2.

2. Leontief, W. 1951. The Structure of American Economy, 1919 - 1939. White Plains: International Arts and Sciences Press, Inc.

3. Bureau of Economic Analysis. 1998. Benchmark Input-Output Accounts of the United States, 1992. Washington, D.C.: Government Printing Office, M-2 – M-30.

*4. Lawson, A. M. 1997. “Benchmark Input-Output Accounts for the U.S. Economy, 1992.” Survey of Current Business 77.11 (November): 36 – 82.

*5. Okubo, S. O., Lawson, A. M., and Planting, M. A. 2000. “Annual Input-Output Accounts of the U.S. Economy, 1996.” Survey of Current Business 80.1 (January): 37 – 86.

*6. Bortis, H. 1997. Institutions, Behaviour and Economic Theory: A Contribution to Classical-Keynesian Political Economy. Cambridge: Cambridge University Press, chs. 3 and 5.

*7. Bortis, H. 2003. “Keynes and the Classics: Notes on the Monetary Theory of Production.” In Modern Theories of Money, 411 – 474. Edited by L.-P. Rochon and S. Rossi. Cheltenham: Edward Elgar.

8. Earl, P. E. and Potts, J. “The Market for Preferences.” Unpublished.

9. Lavoie, M. 2003. “Post Keynesian Consumer Theory”. Unpublished.

*10. Zimmermann, E. W. 1951. World Resources and Industries. Revised Edition. New York: Harper and Brothers, Publishers, chs. 1 (Meaning and Nature of Resources) and 9 (Culture and Resources).

*11. De Gregori, T. R. 1987. “Resourses are Not; They Become: An Institutional Theory.” Journal of Economic Issues 21.3 (September): 1241 – 1263.#

12. Ranson, B. 1987. “The Institutionalist Theory of Capital Formation.” Journal of Economic Issues 21.3 (September): 1265 – 1278.#

*13. Lee, Post Keynesian Price Theory, chs. 11 and 12.

*14. Kurz and Salvadori, Theory of Production, chs. 3, 4, 10, and 13.

*15. Harris, D. J. 1974. "The Price Policy of Firms, the Level of Employment and Distribution of Income in the Short Run." Austrialian Economic Papers 13 (June): 144 - 151.

*16. Clark, D. 1984. "Confronting the Linear Imperialism of the Austrians." Eastern Economic Journal 10 (April-June): 107 - 127.

*17. Nurske, R. 1935. "The Schematic Representation of the Structure of Production," Review of Economic Studies 2 (June): 232 - 244..#

18. Lowe, A. 1952. "A Structural Model of Production," Social Research 19 (June): 135 - 176.

*19. Davis, J. B. 2003. The Theory of the Individual in Economics: Identity and Value. London: Routledge, chs. 1, 6, 7, 8, 9, and 10.

20. Potts, J. 2000. The New Evolutionary Microeconomics: Complexity, Competence and Adaptive Behaviour. Cheltenham: Edward Elgar, chs. 1, 2, 3, and 4.

21. Gehrke, C. 2003. “Alfred Kahler: A Pioneer of Input-Output Analysis.” Unpublished.

22. Hagemann, H. and Punzo, L. F. 2003. “On Robert Remak’s Superposed Price Systems.” Unpublished.

23. Matthaei, J. 1984. “Rethinking Scarcity: Neoclassicism, NeoMalthusianism, and NeoMarxism.” Review of Radical Political Economics 16.2/3 (Fall): 81 – 94.

24. Gehrke, C. and Kurz, H. D. 2004. “Say and Ricardo on Value and Distribution.” Unpublished.

25. Kurz, H. D. and Salvadori, N. 2004. “Production and Economic Theory: Reflections on Georgescu-Roegen’s Contribution.” Unpublished.

26. Kurz, H. D. and Salvadori, N. 2005. “Representing the Production and Circulation of Commodities in Material Terms: On Sraffa’s Objectivism.” Review of Political Economy 17.3 (July): 69 – 97.

[the input-output articles can be found at http://www.bea.doc.gov/ and then click on gross product and input-output data and/or articles.]

II. The Business Enterprise

A. Nature of the Business Enterprise

*1. Moss, S. 1981. An Economic Theory of Business Strategy. (ch.2. The Firm) New York: John Wiley and Sons, ch. 2.

*2. Herman, E. S. 1981. Corporate Control, Corporate Power. Cambridge: Cambridge University Press, chs. 1 (Corporate Control: Background and Issues) and 2 (Control and Strategic Position).

*3. Eichner, A. 1976. The Megacorp and Oligopoly. (ch.1. Introduction, ch.2. The Nature of the Megacorp) Cambridge: Cambridge University Press.

4. Chandler, A. D. 1988. The Essential Alfred Chandler: Essays Toward a Historical Theory of Big Business. Boston: Harvard Business School Press, chs. 2, 3, 8, 9, 14, 15, and 16.

5. Fligstein, N. 1990. The Transformation of Corporate Control. Cambridge: Harvard University Press.

B. Structure of Production and Costs of the Business Enterprise

*1. Eichner, A. S. 1976. The Megacorp and Oligopoly. Cambridge: Cambridge University Press, Ch.2. The Nature of the Megacorp

2. Dean, J. 1976. Statistical Cost Estimation. Bloomington: Indiana University Press, pp. 3 - 35 (Introduction).

*3. Gold, B. 1981. "Changing Perspectives on Size, Scale, and Returns," Journal of Economic Literature 19 (March): 5 - 33. #

*4. Lee, F. 1986. “Post Keynesian View of Average Direct Costs: A Critical Evaluation of the Theory and the Empirical Evidence." Journal of Post Keynesian Economics 8.3 (Spring): 400 - 424.

5. Puty, C. 2005. “Cost Curves and Capacity Utilization in the U.S. Manufacturing, 1958 – 1996.” Unpublished.

C. Costing, Pricing, and Prices

*1. Lee, Post Keynesian Price Theory, ch. 11.

2. Downward, P. 1999. Pricing Theory in Post Keynesian Economics: A Realist Approach, Cheltenham: Edward Elgar, chs. 3, 4, 5, 6, 7, and 8.

3. Lee, F. S. 1995. "From Post Keynesian to Historical Price Theory, Part II: Facts, Theory, and Empirically Grounded Pricing Model," Review of Political Economy 7 (January): 72 - 124.

*4. Hall, S, Walsh, M., and Yates, A. 2000. “Are UK Companies’ Prices Sticky?” Oxford Economic Papers 52.3 (July): 425 – 446.#

*5. Eichner, A. 1976. The Megacorp and Oligopoly. Cambridge: Cambridge University Press, ch. 3.(Pricing Decision)

6. Holt, R. P. F. and Pressman, S. 2001. A New Guide to Post Keynesian Economics. London: Routledge, ch. 3.

*7. Downward, P. 2001. “Price Stickiness: A Post Keynesian Microeconomic Perspective.” Eastern Economic Journal 27.2 (Spring): 165 – 182.#

*8. Downward, P. 2000. “A Realist Appraisal of Post Keynesian Pricing Theory.” Cambridge Journal of Economics 24.2 (March): 211 – 224.

9. Downward, P. 2003. “Post Keynesian Pricing Theory: Alternative Foundations and Prospects for Future Research.” Unpublished.

10. Lucas, M. R. 2003. “Pricing Decisions and the Neoclassical Theory of the Firm.” Management Accounting Research 14: 201 – 217.

D. Investment, Employment, and Production

*1. Moss, S. 1981. An Economic Theory of Business Strategy. New York: John Wiley and Sons, ch. 3 (Economic Determinants of Investment Strategies) and ch. 8.

*2. G. C. Harcourt and P. Kenyon, "Pricing and the Investment Decisions," Kyklos (1976): 449 - 477.

*3. Lavoie, M. 1992. Foundations of Post-Keynesian Economic Analysis. Aldershot: Edward Elgar, ch. 3 (Theory of Firm).

*4. Eichner, A. 1976. The Megacorp and Oligopoly. Cambridge: Cambridge University Press, ch. 3 (Pricing Decision).

5. Bewley, T. F. 1999. Why Wages Don’t Fall During a Recession. Cambridge: Harvard University Press.

*6. Baddeley, M. C. 2003. Investment: Theories and Analysis. Houndsmills: Palgrave.

7. Scheibl, F. and Wood, A. 2005. “Investment Sequencing in the Brick Industry: An Application of Grounded Theory.” Cambridge Journal of Economics 29.2 (March): 223 – 247.#

III. The Market and the Business Enterprise

A. Industry and Market

*1. Nightingale, J. 1978. "On the Definition of 'Industry' and 'Market'," Journal of Industrial Economics 27 (September): 31 - 40..#

*2. Moss, S. 1981. An Economic Theory of Business Strategy. New York: John Wiley and Sons, ch. 5 (Business Strategy and Market Institutions).

*3. G. B. Richardson, "Organization of Industry," The Economic Journal (1972).#

*4. Fligstein, N. 1996. "Markets as Politics: A Political-Cultural Approach to Market Institutions," American Sociological Review 61 (August): 656 - 673.#

*5. Granovetter, M. 1985. "Economic Action and Social Structure: The Problem of Embeddedness," American Journal of Sociology 91 (November): 481 - 510.

6. Smelser, N. J. and Swedberg, R. (eds.) The Handbook of Economic Sociology. Princeton: Princeton University Press, chs. 11 (Marketkes as Social Structures) and 15 (Network and Economic Life by Powell and Smith-Doerr).

*7. Fligstein, The Architecture of Markets, chs. 1, 2, 3, and 4.

B. Structure of Market Demand: Consumer, Industrial, and Government

*1. Fuller, C. G. 1996. "Elements of a Post Keynesian Alternative to 'Household Production'". Journal of Post Keynesian Economics 18 (Summer): 595 - 607. #

*2. Lavoie, M. 1994. "A Post Keynesian Approach to Consumer Choice." Journal of Post Keynesian Economics 16 (Summer): 539 - 562.#

*3. Lavoie, M. 1992. Foundations of Post-Keynesian Economic Analysis. Aldershot: Edward Elgar, ch. 2 (Theory of Choice)

*4. Lavoie, M. 2003. “Post Keynesian Consumer Theory”.

5. Devetag, M. G. 1999. “From Utilities to Mental Models: A Critical Survey on Decision Rules and Cognition in Consumer Choice.” Industrial and Corporate Change 8.2: 289 – 351.

C. Structure of Market Demand, the Business Enterprise, and the Market Price

1. Eiteman, W. J. 1949. Price Determination: Business Practice versus Economic Theory. Ann Arbor: University of Michigan, pp. 15 - 35. (ch.2 Economics of Enterprise)

*2. Robinson, R. 1961. "The Economics of Disequilibrium Price," Quarterly Journal of Economics 75 (May): 199 - 233.#

*3. Williams, J. B. 1967. "The Path to Equilibrium," Quarterly Journal of Economics 81 (May): 241 - 255.#

4. Lee, F. S. 1990-91. "Marginalist Controversy and Post Keynesian Price Theory," Journal of Post Keynesian Economics 13 (Winter): 252 - 263.

5. Lee, F. S. 1984. "Full Cost Pricing: A New Wine in a New Bottle," Australian Economic Papers 23 (June): 151 - 166.

IV. Competition, the Market Price, and Market Governance

A. Business Enterprise, Competition, and the Market Price

*1. Richardson, G. B. 1965. "The Theory of Restrictive Trade Practices," Oxford Economic Papers 17 (November): 432 - 449.#

*2. Moss, S. 1981. An Economic Theory of Business Strategy. New York: John Wiley and Sons, ch. 5 (Business Strategy and Market Institutions), 6, 7 (Uncertainty, Exchange and Integration), and 8( Market Power and Market Price)

*3. Clifton, J. A. 1987. "Competitive Market Process." In The New Palgrave Vol. I A to D, pp. 553 - 556. Edited by J. Eatwell, M. Milgate, and P. Newman. New York: Stockton Press.

4. Grabher, G. (ed.) 1993. The Embedded Firm. London: Routledge, ch. 1 (Rediscovering the Social in the Economcis of interfirm relations), ch. 2 (The Network as a Governance Structure).

*5. Campbell, J., Hollingsworth, J., and Lindberg, L. (eds.) 1991. Governance of the American Economy. Cambridge: Cambridge University Press, chs. 1, 2, 11, 12.

B. Market Governance and the Market Price: Trade Associations, Price Leadership, Government Regulation, and Laws

*1. Howe, M. 1972-73. "A Study of Trade Association Price Fixing." Journal of Industrial Economics 21: 236 - 256.

2. Maunder, P. 1972. "Price Leadership: an appraisal of its character in some British Industry." The Business Economist 4.3 (Autumn): 132 - 140.

3. Richardson, G. B. 1967. "Price Notification Schemes." Oxford Economic Papers 19: 359 - 369.#

4. Smelser, N. J. and Swedberg, R. (eds.) The Handbook of Economic Sociology. Princeton: Princeton University Press, ch. 18.(Business Groups by Mark Granovetter)

V. Microfoundations of Heterodox Macroeconomics

A. Disaggregated Price-Output Model of the Economy

*1. Lee, Post Keynesian Price Theory, ch. 12.

*2. Lee, F. S. 1996. "Pricing, the Pricing Model and Post-Keynesian Price Theory." Review of Political Economy 8 (January): 87 - 99.

*3. Bortis, H. 1997. Institutions, Behaviour and Economic Theory: A Contribution to Classical-Keynesian Political Economy. Cambridge: Cambridge University Press, ch. 4.

4. Eichner, A. 1976. The Megacorp and Oligopoly. Cambridge: Cambridge University Press, ch. 6. Micro and macro

*5. Bortis, H. 2003. “Keynes and the Classics: Notes on the Monetary Theory of Production.” In Modern Theories of Money, 411 – 474. Edited by L.-P. Rochon and S. Rossi. Cheltenham: Edward Elgar.

*6. Kurz and Salvadori, Theory of Production, chs. 4, 6, 7, 9, 10, and 11.

7. Pasinetti, L. L. 1977. Lectures on the Theory of Production. New York: Columbia University Press, chs. 2, 3, 4, and 5.

8. Trigg, A. B. and Lee, F. S. 2005. “Pasinetti, Keynes and the Multiplier.” Review of Political Economy 17.1 (January): 29 – 43.

9. Bellino, E. 1997. “Full-cost Pricing in the Classical Competitive Process: A Model of Convergence to Long-run Equilibrium.” Journal of Economics 65.1: 41 – 54.

B. Mark Ups, Investment, and Economic Activity

*1. Foster, J. B. and Szlajfer, H. (ed.) 1984. The Faltering Economy. New York: Monthly Review Press, pp. 23 - 56, 198 - 213, and 236 - 250.

2. Shapiro, N. 1988. "Market Structure and Economic Growth: Steindl's Contribution." Social Concept 4.2 (June): 72 - 83.

3. Levine, D. P. 1975. "The Theory of the Growth of the Capitalist Economy," Economic Development and Culture Change 23 (October): 47 - 74.

4. King, J. E. 2004. “Imperfectionism in Macroeconomics: Old Light on a New Controversy.” Unpublished.

C. Social Welfare and Corporate Capitalism

1. Eichner, A. 1976. The Megacorp and Oligopoly. Cambridge: Cambridge University Press, ch. 5 (The distribution of income), ch. 7 (Conventional Policy Instruments), and ch. 8 (Towards social control).

*2. Lutz, M. A. 1999. Economics for the Common Good: Two Centuries of Social Economic Thought in the Humanistic Tradition. London: Routledge, chs. 1, 5, 6, 7, 8, and 11.

3. O’Boyle, E. J. 1996. Social Economics: Premises, Findings and Policies. London: Routledge, chs. 1, 4, 5, 6, 7, 8, and 10.

*4. Bortis, H. 1997. Institutions, Behaviour and Economic Theory: A Contribution to Classical-Keynesian Political Economy. Cambridge: Cambridge University Press, chs. 6 and 7.

5. Fitzsimons, V. G. 2004. “Redefining the Social: Re-opening the Debate on Institutions in Economics.” Unpublished.

For a List of heterodox economic journals, see "Informational Directory for Heterodox Economists (pdf)"

Set essay readings
    - Readings on "Production as a Circular Process"
    - Readings on "Pricing"
    - Readings on "Investment"

Additional Readings

Heterodox Economics on the Web (more links can be found on "Informational Directory for Heterodox Economists" and UMKC Economics Department link page)

Association for Economic and Social Analysis http://www.nd.edu/%7Eremax/ases/main.html
Association for Evolutionary Economics http://www.orgs.bucknell.edu/afee
Association for Heterodox Economics http://www.hetecon.com
Association for Institutional Thought http://www.afit.cba.nau.edu/
Association for Social Economics http://www.socialeconomics.org
Cambridge Social Ontology Group http://www.csog.group.cam.ac.uk/index.htm
Conference of Socialist Economists http://www.cse.web.org.uk/
Congress of Political Economists http://www.copeintl.org/
European Association for Evolutionary Political Economy http://ww.eaepe.org
Heterodox Economics Web http://www.orgs.bucknell.edu/afee/hetecon.htm
International Association for Feminist Economics http://www.facstaff.bucknell.edu/jshackel/iaffe
International Confederation of Associations for Pluralism in Economics http://ww.econ.tcu.edu/econ/icare/main.html
International Society for Ecological Economics http://ww.ecologicaleconomics.org/
International Working Group on Value Theory http://www.iwgvt.org
Japan Association for Evolutionary Economics http://www.econ.kyoto-u.ac.jp/%7Eevoeco/
Japan Society of Political Economy http://www.soc.nii.ac.jp/jspe/en/index.html
Monthly Review http://www.monthlyreview.org
Political and Ethical Knowledge on Economic Activities http://ww.pekea.org
Post-Autistic Economics Network http://ww.paecon.net/
Post Keynesian Thought Internet Archive http://csf.colorado.edu/pkt/
Science and Society http://www.scienceandsociety.com
Society for the Advancement of Behavioral Economics http://www.usask.ca/economics/SABE/
Society for the Advancement of Socio-Economics http://www.sase.org/homepage.html
Union for Radical Political Economics http://www.urpe.org
US Society for Ecological Economics http://www.ussee.org/

The articles marked by an * can be found on JSTOR that can be found at: http://www.jstor.org/cgi-bin/jstor/listjournal

JSTOR includes the following economic journals:

Updated: 3/27/07 - MJM

Department of Economics, 211 Haag Hall, University of Missouri-Kansas City 5100 Rockhill Road, Kansas City, Missouri 64110 U.S.A
Phone: (816) 235-1314 Fax: (816) 235-2834, E-mail: economics@umkc.edu

B. The Scope of Heterodox Microeconomics

International Working Group on Value Theory http://www.iwgvt.org

Japan Association for Evolutionary Economics http://www.econ.kyoto-u.ac.jp/%7Eevoeco/

Japan Society of Political Economy http://www.soc.nii.ac.jp/jspe/en/index.html

Monthly Review http://www.monthlyreview.org