2026 (Current Year) Faculty Courses Liberal arts and basic science courses Humanities and social science courses
Economics C
- Academic unit or major
- Humanities and social science courses
- Instructor(s)
- Kengo Kogure
- Class Format
- Lecture
- Media-enhanced courses
- -
- Day of week/Period
(Classrooms) - Class
- -
- Course Code
- LAH.S310
- Number of credits
- 200
- Course offered
- 2026
- Offered quarter
- 4Q
- Syllabus updated
- Mar 5, 2026
- Language
- Japanese
Syllabus
Course overview and goals
This course begins with the basic relationship between the two main actors in a capitalist economy: capitalists and workers. It looks at how this relationship appears in production, distribution, and exchange in the marketplace. It focuses not only on the mechanisms of transactions and pricing mechanisms, but also the power relations, institutions, and historical background that shape them. In addition to using tools from microeconomics and macroeconomics, the course explores how the capitalist system as a whole works, how it develops, and why it sometimes becomes unstable. In particular, while “Economics B” focuses on microeconomic perspectives, this course builds upon that foundation by focusing on macroeconomic perspectives. Therefore, we strongly recommend taking this course after completing “Economics B.”
The aim of the course is to help students see capitalism not just as a “natural environment,” but as an economic system created by history and society. By doing so, students will strengthen their ability to analyze economic issues, gain sharper perspectives and deeper insights into today’s social problems, and learn to form their own judgments. The course also aims to prepare students to apply this knowledge both in academic research and in solving real-world problems.
Course description and aims
At the end of this course, students will be able to:
1) Learn the fundamentals of economics in a systematic way and understand the characteristics of the capitalist economic system (its essence and its phenomena).
2) Critically evaluate both the benefits and the drawbacks that capitalism has brought to the world economy from multiple perspectives.
3) Develop their own views on the challenges faced by contemporary society, based on the knowledge and concepts learned in this course.
Keywords
Capitalism Analysis, Marx, Political Economy, Labor, Critical Thinking
Competencies
- Specialist skills
- Intercultural skills
- Communication skills
- Critical thinking skills
- Practical and/or problem-solving skills
Class flow
The lecture will be conducted using slides and handouts. Students are required to submit a comment paper for each class, and questions or comments will be addressed at the beginning of the following class. Some video materials will also be used. Depending on the number of participants and their level of understanding, active learning methods such as group work may be introduced. In addition, several short report assignments will be given as coursework. Details will be announced in the first class.
The textbook will be used for report assignments. Classes will be based on reference books, and students are encouraged to purchase any that they find of particular interest.
Course schedule/Objectives
| Course schedule | Objectives | |
|---|---|---|
| Class 1 | Introduction (Course description, class flow, assessment methods, etc.; “What is Economics?”) |
Understand the tutorial of the course and gain an overview of economics as a whole. |
| Class 2 | Market mechanisms and Macroeconomic variables |
Explain the mechanisms of the market and the characteristics of macroeconomic variables. |
| Class 3 | Production function |
Explain the production function in supply. |
| Class 4 | Profit maximization |
Explain the optimization behavior of firms and its characteristics. |
| Class 5 | Consumption function 1: Keynesian Consumption Function |
Explain the consumption function in demand (Keynesian consumption function). |
| Class 6 | Consumption function 2: Permanent Income Hypothesis |
Explain the permanent income hypothesis in demand. |
| Class 7 | Labor market and Inflation 1: Fundamentals |
Explain the characteristics of the labor market and the mechanism of inflation. |
| Class 8 | Labor markets and Inflation 2: Applications |
Based on statistical data concerning the labor market and inflation, explain macroeconomics. |
| Class 9 | Economic Growth Theory 1: Mainstream Models |
Systematically explain mainstream economic growth theory. |
| Class 10 | Economic Growth Theory 2: The Kaleckian Model |
Explain the characteristics and mechanisms of the Kaleckian model. |
| Class 11 | Economic Growth Theory 3: The Harrod Model |
Explains the characteristics and mechanisms of the Harrod model. |
| Class 12 | Business Cycle Theory 1: Mainstream theories |
Systematically explain mainstream business cycle theory. |
| Class 13 | Business Cycle Theory 2: Goodwin, Minsky |
Explain the differences between Goodwin and Minsky's theories of business cycles. |
| Class 14 | Final examination and summary (“Learning Political Economy”) |
Take the final examination and re-evaluate contemporary socio-economic issues from new perspectives gained in the course. |
Study advice (preparation and review)
To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to course material.
Textbook(s)
Kei Ehara. (2025). Shihonshugi ha naze genkai nanoka: datsuseicho no keizaigaku [Why Capitalism Has Reached Its Limits: The Economics of Degrowth]. Tokyo: Chikuma Shobo. ISBN 9784480077141
＊The textbook will be used for report assignments. Classes will be based on reference books, and students are encouraged to purchase any that they find of particular interest.
Reference books, course materials, etc.
Abe, T., Osaka, H., Ohno, T., Sato, T., Sato, Y., Nakatani, T., Ninomiya, K., & Ban, H. (2019). Shihonshugi ga wakaru keizaigaku [Economics for Understanding Capitalism]. Tokyo: Otsuki Shoten. ISBN 9784272111244
CORE Team. (2017). The economy: Economics for a changing world. Oxford: Oxford University Press. ISBN 9780198810247
Evaluation methods and criteria
Comment papers (10%), short report assignments (20%), final examination (70%).
Related courses
- LAH.S109 ： Economics A
- LAH.S209 ： Economics B
- LAH.S407 ： Essence of Humanities and Social Sciences7:Economics
Prerequisites
High-level Japanese literacy.
While not a prerequisite, it is strongly recommended that you take this course after completing "Economics B". Basic understanding of elementary mathematics.