ECON 355 – History of Economic Analysis

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ECON 355 – History of Economic Analysis

Final Exam (100 points)

 

Directions: 

 

You are only allowed to use your textbook.  Your answers should be approximately one-half to one page in length, typed, and double-spaced.

 

Citation of sources is required, though the citation could be as simple as (Brue and Grant, Chapter 1, p. 4).

 

Date and Time Due:  Monday, December 11, 12:15 p.m. Turn in your exam via the Moodle link.

 

Late policy:  you will lose one letter grade for each day that the exam is late.  The exam will not be accepted after 12:00 p.m. on Friday, December 15.

 

Short Answer (20 points each, 100 points total)ECON 355 – History of Economic Analysis

 

  1. Why, according to Sismondi, are economic crises and imperialism inherent to capitalism? What role do bankers play in this?

 

  1. What are the major tenets of marginalist thought and determine which of them apply to the writings of Cournot.

 

  1. Contrast Marshall’s distinctions between: (a) supplementary and prime costs; (b) immediate present, short run, and long run; (c) increasing and decreasing cost industries; and (d) internal and external economies

 

  1. Proponents of limited government often look to the classical school for intellectual support. What is one way the classical school supports their view? What is one way it perhaps calls for more government than the proponents of limited government would like?

 

  1. Name two economists researched by your fellow classmates and list one thing about each economist that you found particularly interesting and explain why.

ECON 355 – History of Economic Analysis

Final Exam (100 points)

 

Directions: 

 

You are only allowed to use your textbook.  Your answers should be approximately one-half to one page in length, typed, and double-spaced.

 

Citation of sources is required, though the citation could be as simple as (Brue and Grant, Chapter 1, p. 4).

 

Date and Time Due:  Monday, December 11, 12:15 p.m. Turn in your exam via the Moodle link.

 

Late policy:  you will lose one letter grade for each day that the exam is late.  The exam will not be accepted after 12:00 p.m. on Friday, December 15.

 

Short Answer (20 points each, 100 points total)

 

  1. Why, according to Sismondi, are economic crises and imperialism inherent to capitalism? What role do bankers play in this?

 

  1. What are the major tenets of marginalist thought and determine which of them apply to the writings of Cournot.

 

  1. Contrast Marshall’s distinctions between: (a) supplementary and prime costs; (b) immediate present, short run, and long run; (c) increasing and decreasing cost industries; and (d) internal and external economies

 

  1. Proponents of limited government often look to the classical school for intellectual support. What is one way the classical school supports their view? What is one way it perhaps calls for more government than the proponents of limited government would like?

 

  1. Name two economists researched by your fellow classmates and list one thing about each economist that you found particularly interesting and explain why.