political
ECONOMICS 442
HISTORY OF ECONOMIC THOUGHT
PROFESSOR KARSTENSSON
TOPIC 2 EXAM REVIEW
THE CLASSICAL SCHOOL (1776-1873)
You should be prepared to write on the following items and questions on the pertinent examination.
On the Short Answer Items you should be able to
correctly identify the item and comment on its importance in the history of economic ideas.
On the Essay Questions you should be able to write an
organized and defensible short essay on the point(s) of the question asked.
This review includes items and questions on the following:
2.0
2.1
2.2
2.3
2.4
Topic Items and Questions
Adam Smith (1723-1790)
Thomas Malthus (1766-1834)
David Ricardo (1772-1823)
John Stuart Mill (1806-1873)
2.0 Topic Items and Questions
Short Answer Items:
The Enlightenment
Essay Questions:
1.
The structure of a discipline can perhaps be expressed in terms of its composition. The principal components of economics today would certainly include microeconomics (price theory), macroeconomics
(national income theory), and quantitative economics (mathematical economics and econometrics). What would you say was the structure of classical economics? What were its principal components? How is modern economics related to its classical predecessor?
2.
Compare and contrast the views of Smith, Ricardo, and J. S. Mill on value. 3.
Compare and contrast the views of Smith, Ricardo, and J. S. Mill on production. 4.
Compare and contrast the views of Smith, Ricardo, and J. S. Mill on distribution. 5.
Summarize the contributions of Smith, Ricardo, and J. S. Mill to the theory of international trade.
6.
Compare and contrast the positions of Malthus, Ricardo, and J. S. Mill on the possibility of gluts in the economy.
7.
Compare and contrast the positions of Malthus and Ricardo on the Poor
Law and the Corn Laws.
2.1 Adam Smith (1723-1790)
Short Answer Items:
Adam Smith
Francis Hutcheson
David Hume
The Theory
HISTORY OF ECONOMIC THOUGHT
PROFESSOR KARSTENSSON
TOPIC 2 EXAM REVIEW
THE CLASSICAL SCHOOL (1776-1873)
You should be prepared to write on the following items and questions on the pertinent examination.
On the Short Answer Items you should be able to
correctly identify the item and comment on its importance in the history of economic ideas.
On the Essay Questions you should be able to write an
organized and defensible short essay on the point(s) of the question asked.
This review includes items and questions on the following:
2.0
2.1
2.2
2.3
2.4
Topic Items and Questions
Adam Smith (1723-1790)
Thomas Malthus (1766-1834)
David Ricardo (1772-1823)
John Stuart Mill (1806-1873)
2.0 Topic Items and Questions
Short Answer Items:
The Enlightenment
Essay Questions:
1.
The structure of a discipline can perhaps be expressed in terms of its composition. The principal components of economics today would certainly include microeconomics (price theory), macroeconomics
(national income theory), and quantitative economics (mathematical economics and econometrics). What would you say was the structure of classical economics? What were its principal components? How is modern economics related to its classical predecessor?
2.
Compare and contrast the views of Smith, Ricardo, and J. S. Mill on value. 3.
Compare and contrast the views of Smith, Ricardo, and J. S. Mill on production. 4.
Compare and contrast the views of Smith, Ricardo, and J. S. Mill on distribution. 5.
Summarize the contributions of Smith, Ricardo, and J. S. Mill to the theory of international trade.
6.
Compare and contrast the positions of Malthus, Ricardo, and J. S. Mill on the possibility of gluts in the economy.
7.
Compare and contrast the positions of Malthus and Ricardo on the Poor
Law and the Corn Laws.
2.1 Adam Smith (1723-1790)
Short Answer Items:
Adam Smith
Francis Hutcheson
David Hume
The Theory