Universität Wien

040130 UK Classical Value Theory from a Modern Viewpoint (BA) (2024W)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 50 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

  • Wednesday 02.10. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 09.10. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 16.10. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 23.10. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 30.10. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 06.11. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 13.11. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 20.11. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 27.11. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 04.12. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 11.12. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 08.01. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 15.01. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 22.01. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 29.01. 11:30 - 13:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock

Information

Aims, contents and method of the course

Content: The Classical Theory of Value (Adam Smith, Ricardo, Marx) has been formalized in modern economic theory in the framework of a Linear Model of Production. This makes it possible to give clear definitions of concepts like labor values, production prices, the rate of explotation, the rate of profit, etc., and to clarify the relationships between these and other important concepts (growth, wages and profits, choice of technique, etc.).
This course presents the classical theory with the help of this mathematical model, and also explains its relationship with the modern theory of value (General Equilibrium Theory).

Aim: To understand the content described above.

Prerequisites: Elementary Linear Algebra.

Additional Information: http://homepage.univie.ac.at/manfred.nermuth/

Assessment and permitted materials

Exam: written homeworks, oral final exam.

Minimum requirements and assessment criteria

For a positive grade you must:
- hand in all homeworks on time
- achieve at least 50% of the possible points (in all homeworks combined)
- pass the final exam

Examination topics

Content of the course

Reading list

W. Reiss (2007): Mikroökonomische Theorie. Historisch fundierte Einführung, insbesonder Kap. 3.3.
M. Nermuth (1984): The Linear Model of Production, Working Paper 8401, Dept. of Economics, Univ. of Vienna.

Association in the course directory

Last modified: Mo 27.07.2026 10:53