You are only allowed to use the textbook ( The Evolution of Economic Thought, Eighth Edition

by Stanley L. Brue and Randy R. Grant) I can help you with book pages if you don’t have it!

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

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

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

3. 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.

4. Proponents of limited government often look to the classical school for intellectual support. In what way(s) does the classical school support their view? In what way(s) does it perhaps call for more government than the proponents of limited government would like?

5. Name two economists about whom you read this semester and list two things about each economist that you found particularly interesting and explain why.