Capital and Employment

Master seminar

An organisational meeting and introduction to the topic takes place on 25. April 2017, 10 a.m. in RuW 4.202.

The seminar will take place from 09. to 15. July 2017 in Riezlern (Kleinwalsertal, Austria, Haus Bergkranz).

  seminar overview

  registration form

We are aware of the COLLISION WITH THE THESIS SEMINAR and will find a suitable solution together with Professor Entorf. Therefore, do not hesitate to register for this course! - We hope that the mandatory thesis seminar will be moved, with the consent of all participating students, to another week.

The number of participants is restricted to 20 due to the number of beds. Registration will take place at the organisational meeting.

You can pre-register at the chair, by submitting the signed registration form (which you can find on our homepage) until the 25. April 2017 to Anastasia Biermann by email. Please hand in the original printed version at the organisational meeting. Your decision on the preferred topics can be added after the introduction and elaboration at the organisational meeting. 

If the number of interested students exceeds the number of beds, the first come first serve rule applies.

In the period from 13th to 26th of April 2017 students have to officially register for the examination by personally signing an exam registration list. This will be possible at the organisational meeting on April 25th and for special reasons by contacting Mrs. Biermann within the deadline. The original signed registration form will be needed at the organisational meeting.

Withdrawal is possible only until the 26th of April 2017.

The assignment of topics will take place on Tuesday, May 3rd, via email. Please contact your supervisor afterwards to discuss your topic.

Deadline for term paper:   26.06.17, 10 a.m.
Deadline for presentation and handout:   06.07.17, 10 a.m.

You will find some instructions for your term paper HERE.


The theory of employment is connected with capital theory in two ways: The investment function determines effective demand in the short run and the structure of the capital stock, transformed through technical progress, determines employment in the process of growth. As the Cambridge debates on capital theory have recently been revived, these connections shall be taken up again in a seminar that will focus on prices, distribution and the valuation of capital as well as on different theories of growth and employment so as to discuss and develop alternatives to the neoclassical paradigm. Conclusions for employment policies will follow.

  List of topics

General reading list

  •  (will follow)

General literature

  • Aghion, P. & Howitt, P. (2008). The Economics of Growth. Cambridge Mass.: The MIT Press.
  • Blaug, M. (1999). Economic Theory in Retrospect (5th ed.). Cambridge: Cambridge University Press.
  • Dobb, M. (1973). Theories of Value and Distribution since Adam Smith. Cambridge: Cambridge University Press.
  • Foley, D. K., & Michl, T. R. (1999). Growth and Distribution. Cambridge Mass.: Harvard University Press.
  • Garegnani, P. (1984). Value and Distribution in the Classical Economists and Marx. Oxford Economic Papers, 36, pp. 291–325.
  • Roncaglia, A. (2005). The wealth of ideas: a history of economic thought. Cambridge: Univ. Press.
  • Schefold, B. (1997). Normal Prices, Technical Change and Accumulation. London: MacMillan.
  • Shaikh, A. (2016). Capitalism - Competition, Conflict, Crises. Oxford: Univ. Press.

  Literature by topic


  • 60% term paper
  • 40% presentation & participation

Each partial requirement needs to be passed with a grade of 4.0 or better.

Formal requirements

  • A term paper consists of a title page, a table of contents, numbered pages of text and a list of references. All together this should be no less than 15 pages and no more than 20 pages of text.
  • There should be a page margin of 2,5 cm to allow notes and a line spacing of 1,5. Please be advised to use a font size of 12 with fonts such as Arial or Times New Roman.
  • You should base your argumentation on relevant literature, which has to be quoted as explicit as possible (correct and full reference and page, if applicable).
  • You will be required to present the results of your seminar paper at the block week in Riezlern. Please discuss the main focus of your talk with your supervisor.