SP15 Exam3Rev
Economics 4130
SP15 Exam 3 Review
The exam will have 5, 10-point questions on it from the questions below.
1. (3 pts) What are the basic principles of Mercantilism?(3 pts) Contrast mercantilism with principles of mercantilism with that of neoclassical economics. (4 pts) List and briefly explain 4 mercantilist policies typical of pre-modern governments.
2. (6 pts) In what 3 ways was the establishment of oversees colonies consistent with the trade goals of Mercantilism? (4 pts) Explain the trade triangles that developed between the British and the Dutch and their colonies in the New World.
3. (3 pts)Explain debt repudiation as practiced by the Spanish monarchy in the premodern era. (2 pts)Why was excessive borrowing bad for their economy? (3 pts) Which 3 groups were expelled by the Spanish Crown? (2 pts)What was the Edict of Nantes?
4. (6 pts)Provide a brief history of the limits placed on the British monarchy. (4 pts)Explain how these limits as well as the establishment of the Bank of England were important to Britain’s early industrialization.
5. (3 pts)What was the Cokayne project? (2 pts) What was the College of the Fishery? (2 pts)What was the New Husbandry? (3 pts)List 3 other innovations in agriculture that lead to the breakdown of the Malthusian Trap.
6. (3 pts) Why was the development of insurance important for economic growth? (3 pts) Why did diffusion double-entry bookkeeping facilitate the birth of modern industry? (4 pts)Explain the connection between the Scientific Revolution and the Industrial Revolution in Great Britain.
7. (4 pts)Why are the views of Renaissance Christianity (as contrasted with Classical beliefs) thought to have fostered economic growth in the West? (2 pts each)Provide 3 explanations as to how the Protestant Reformation also increased economic growth.
8. (1/2 point for correctly identifying each school, rounded up; 2 points each for the details) Provide details on each of the four schools of thought
SP15 Exam 3 Review
The exam will have 5, 10-point questions on it from the questions below.
1. (3 pts) What are the basic principles of Mercantilism?(3 pts) Contrast mercantilism with principles of mercantilism with that of neoclassical economics. (4 pts) List and briefly explain 4 mercantilist policies typical of pre-modern governments.
2. (6 pts) In what 3 ways was the establishment of oversees colonies consistent with the trade goals of Mercantilism? (4 pts) Explain the trade triangles that developed between the British and the Dutch and their colonies in the New World.
3. (3 pts)Explain debt repudiation as practiced by the Spanish monarchy in the premodern era. (2 pts)Why was excessive borrowing bad for their economy? (3 pts) Which 3 groups were expelled by the Spanish Crown? (2 pts)What was the Edict of Nantes?
4. (6 pts)Provide a brief history of the limits placed on the British monarchy. (4 pts)Explain how these limits as well as the establishment of the Bank of England were important to Britain’s early industrialization.
5. (3 pts)What was the Cokayne project? (2 pts) What was the College of the Fishery? (2 pts)What was the New Husbandry? (3 pts)List 3 other innovations in agriculture that lead to the breakdown of the Malthusian Trap.
6. (3 pts) Why was the development of insurance important for economic growth? (3 pts) Why did diffusion double-entry bookkeeping facilitate the birth of modern industry? (4 pts)Explain the connection between the Scientific Revolution and the Industrial Revolution in Great Britain.
7. (4 pts)Why are the views of Renaissance Christianity (as contrasted with Classical beliefs) thought to have fostered economic growth in the West? (2 pts each)Provide 3 explanations as to how the Protestant Reformation also increased economic growth.
8. (1/2 point for correctly identifying each school, rounded up; 2 points each for the details) Provide details on each of the four schools of thought