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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Schumpeter's purpose is to describe where ________ originate. (fill in the blank)

2. During the Victorian period, economics became the province of __________. (fill in the blank)

3. The society that Marx believed would follow capitalism would be _________. (fill in the blank)

4. How old was Veblen when he got his first paying job?

5. Who presented his theory of economics in Calculus of Pleasure and Pain?

Short Essay Questions

1. What were Veblen's views on capitalism in The Theory of Business Enterprise?

2. Why was John A. Hobson labeled at heretic?

3. What was the premise of The Communist Manifesto?

4. Which of Marx's concepts turned out to be true?

5. What was the basic focus of Marx's Capital?

6. What was the background of Thorstein Veblen?

7. What was the surplus value theory?

8. What was the economic situation in the early 1900's in America?

9. How did Frederic Bastiat ridicule economics?

10. What is Joseph Schumpeter's background?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

How did Marx teach us "not just to look at, but through, history"? What aspects of Marx's theories are still valid today?

Essay Topic 2

How successful were the worldly philosophers in determining how the role of order and meaning functions within the context of social history? Support your answer with evidence and examples.

Essay Topic 3

Both Malthus and Ricardo painted dreary pictures of the economic situation of their times. Discuss their individual theories and how they differed, as well as how the men themselves differed. Use specific evidence from the book to support your analysis.

(see the answer keys)

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