history of Economics doctrine

Study Guide (Malthus & Ricardo): 5060/6060-070: HOET Spring 17

Question 1] Explain Malthus’ theory of population in detail, how does it differ from previously held notions of population growth and other theories of population during Malthus’ times. [Make sure you reference theories of Townshend, Godwin and Smith’s views on population] [Difficulty à Easy] [Type: Short Answer] Question 2] What was the rationale behind imposing a sliding import duty on the import of corn in the early 1800’s [the corn laws had existed in the UK since 1649]? Do you think this rationale would have been acceptable to Adam Smith? Alternatively would it be fair to say that this rationale was embedded in mercantilism? Justify your answer. [Difficulty à moderate] [Type: Short answer] Question 3] Explain in detail the Ricardian theory of Rent, how does Ricardo’s definition of rent differ from the modern economic theory/ definition of rent? [Make sure you draw all relevant diagrams] [Difficulty à moderate] [Type: essay] Question 4] What is Ricardo’s primary objection against the corn laws? [Difficulty à Easy] [Type: Short answer] Question 5] Compare and contrast the views of the Physiocrats, Malthus and Ricardo on agriculture (specifically the role of the rentier class) in an economy. [Difficulty à moderate] [Type: Essay] Question 6] In The Worldly Philosophers Heilbroner states, “ Society to Adam Smith was a great family; to Ricardo it was an internally divided camp.” Explain in detail. [Difficulty à Difficult] [Type: Essay] Question 7] Briefly explain how Malthus’ views on population form the bedrock of his opposition to the Corn Laws [Difficulty à Moderate] [Type: Short Answer] Question 8] In his book titled ‘On the Principles of Political Economy and taxation’, Ricardo states “Corn is not high because a rent is paid, but a rent is paid because corn is high”. Explain in detail what Ricardo means by the above statement. [Difficulty à Difficult] [Type: Essay]