The History of Economic Thought: From Adam Smith to Today

Name: The History of Economic Thought: From Adam Smith to Today
Rating: 4.8 (569 reviews)

A Course Designed to Give You a Better Understanding of the World Around You--Perfect for University and Adult Learners!

Created byBrad Cartwright

Last updated 1/2026

English

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What you'll learn

A love of Economics that I hope is contagious!
This Course is an Ideal Companion to any Introductory Economics Class in the World!
An understanding of the Evolution of Economic Thought from the 1700s
An understanding of Classical Economics in the 18th Century
An understanding of Classical Economics in the 19th Century
An understanding of Neoclassical Economics in the 19th Century
An understanding of Karl Marx's Critique of Classical Economics
An understanding of Keynesian Economics in the 20th Century
An understanding of Monetarism (New Classical) Economics of the 20th Century
An understanding of Behavioral Economics of the 21st Century
An understanding of he Circular Economy and The Doughnut Economy of the 21st Century

Course content

1 section • 10 lectures • 1h 32m total length

Introduction to the Evolution of Economic Thinking3:30
Trace the evolution of economic thought from Adam Smith in 1776 to today, highlighting neoclassical, Keynesian, and behavioral economics perspectives that shape modern economic analysis.
Classical Economics - The 18th Century13:30
Trace the birth of classical economics from mercantilist roots to Adam Smith, showing wealth lies in produced goods and services, division of labor, the invisible hand, and free trade.
Classical Economics - The 19th Century7:01
Explore the 19th-century evolution of classical economics, highlighting David Ricardo's comparative advantage, Say's Law of Markets, and the shift from Smith's ideas toward international trade and division of labor.
Neoclassical Economics - 19th Century10:24
Trace the birth of neoclassical economics in the late 19th century, shifting value from costs to utility and emphasizing demand, marginal utility, and Marshall's supply–demand diagram.
Karl Marx's Critique of Classical Economics9:28
Explore Karl Marx's critique of neoclassical and classical economics, the idea that production would outpace consumption, urban misery, and the role of democracy in shaping worker protections.
Keynesian Economics - The 20th Century10:35
Trace the shift from neoclassical supply-driven thinking to Keynesian demand-side economics, showing how government spending and taxation, aided by monetary policy, manage aggregate demand.
Monetarism (New Classical) Economics - 20th Century10:49
Trace monetarism's rise in the 1960s and examine Milton Friedman’s focus on money supply and monetary policy to explain inflation and growth, contrasting with Keynesian demand-side theory.
Behavioral Economics - 21st Century10:06
Behavioral economics blends psychology with economics in the 21st century to show that rational choice often fails and decisions are nudged by social and environmental factors.
The Circular Economy and The Doughnut Economy - 21st Century15:23
Explore the shift from a linear 'take–make–waste' economy to a circular model that reuses and refurbishes resources, illustrated by Patagonia, and the doughnut economy framework by Kate Raworth.
Closing Remarks on the Evolution of Economic Thought1:50
Trace the evolution of economic thought from Adam Smith's classical model to Kate Raworth's doughnut economy, linking microeconomics, macroeconomics, and international economics on a global scale.

Requirements

Just a curious mind and an interest in the world around you!

Description

Hi, I'm Brad, and thank you for your interest in The History of Economic Thought!

This course is perfect for anyone curious about how economic ideas have evolved and how they continue to shape our world.

Economics is the study of human behavior and how we act in an economic setting. But beyond that, it’s a lens to better understand global politics, historical tensions, and the forces that shape societies.

This course includes engaging video lessons and downloadable notes, covering:

Introduction to The Evolution of Economic Thought
Classical Economics – The 18th and 19th Centuries
Karl Marx's Critique of Classical Economics
Keynesian Economics – The 20th Century
Monetarism (New Classical) Economics – The 20th Century
Behavioral Economics – The 21st Century
The Circular Economy and The Doughnut Economy – The 21st Century

And, of course, a love of Economics that I hope is contagious!

I teach economics because it fascinates me—it’s the study of human behavior, choices, and the systems we create. Economics isn’t just about data, graphs, or problem sets; it’s about people, their stories, and the societal forces that shape us. A deep understanding of economics allows us to better understand ourselves and the world we live in.

A Weekly Bonus

As a student in this course, you’ll also receive a subscription to my weekly newsletter, Just One Thing. Each Monday, I’ll send you a quick, two-minute breakdown of one key economic concept. It’s a simple, stress-free way to expand your understanding of the world, one idea at a time.

I’ve been fortunate to explore the world as a Peace Corps Volunteer, a graduate of Duke University, and someone who has traveled to over 55 countries. These experiences shape my approach to teaching Economics as a study of people—how we act, decide, and influence the world around us.

I’m thrilled to guide you through this journey into the history of economic thought.

Let’s explore these transformative ideas together!

Who this course is for:

All people of all ages interested learning about the Economics
IB Economics Students
University Students
AP Economics Students
A-Level Economics Students
And ESPECIALLY adults who had a horrible Economics teacher in university!