Midterm Learnings

 a. What you have collectively learned during the Midterm in this Course;

        As a student of this course, History of Economic Thought, the first term of this semester has taught me and allowed me to explore the lives and works of four classical economists, naming Adam Smith, Thomas Malthus, David Ricardo, and John Stuart Mill, and how their ideas have shaped the world we live in today. 

        Robert L. Heilbroner’s book, “The Worldly Philosophers”, provides a detailed account of the evolution of modern economic philosophy. The book not only offers a straightforward and complete elucidation of the ideas put forth by great economists but also provides valuable insight into their personal lives and the historical backdrop of economics. The book introduces the great economists, who have left a significant mark on society and shared a common belief and interests in understanding the human pursuit of worldly wealth. In addition, the book addresses the economic revolution and the various challenges that humanity has faced since the earliest days of civilization. I learned the emphasis on the paramount importance of labor and collaboration for the survival and prosperity of society. Wide range of topics were also mentioned, including the origin and usage of money, international trade, landlords, the clergy, royalty, and farming. I also gained numerous insights into the lives and theories of Parson Malthus and David Ricardo. Their ideas explored in chapter 4 continue to hold relevance in contemporary economics, especially in the context of international trade and population growth. The belief in true freedom by Mill was an empowerment for individuals to develop themselves both intellectually and morally. His impact spans across a wide range of fields, including not only economics but also metaphysics, social and political philosophy, and other areas of intellectual pursuit.

    Through learning the contributions and lasting impact made by these classical economists, I gained a comprehensive comprehension of the intellectual legacy that has influenced modern economics. This new found knowledge will undoubtedly provide a strong basis for delving deeper into my study of economic theories in the subsequent phases of our course.

b. Explain briefly your uploaded Learning Evidences.

        My uploaded Learning Evidences tackled the four classical economists that have shared their thoughts and ideas on their views of how society can function through the validated hypothesis of the theory they formulated. Each of them have their differences but with one goal, to help society. The four classical economists predicted the future problems that would occur in the economy and also provided solutions that could help solve them. As our economy continue to grow, learning the basics and the theories of Adam Smith, Thomas Malthus, David Ricardo, and John Stuart Mill will truly help one to understand how and why the economy can function through the methods that the economists has provided the society.