PECO-401

• History of Economic Thought → How economics as a science evolved over a period of time (Plato, Mercantilist, Physiocracy | classical, marginalism, neo-classical, new-classical)
  • Mercantilist → Non-agro products, more exports, dominance over other economics → Autocracy
  • Physiocracy → leave everything to nature, you need basic food → focus on agriculture (they started with limitations and revolts against Mercantilists) → They believed in GOD.