FINAL EXAM REVIEW FOR POSC 340
The final has three sections: Author identification, multiple choice, and short answer.
Section I: Author Identification
You need to be able to match authors with their contribution to political economy. For example, “Who developed the concept of rent-seeking?” [Answer: George Stigler]
We have studied the following authors in class:
Adam Smith
David Ricardo
John Keynes
F.A. Hayek
Milton Freidman
Mancur Olson
George Stigler
Arthur Laffer
Section II: Multiple Choice
There will be 10 multiple choice questions covering such topics as:
Asymmetries of incentives
The Public Choice school of economics
Fiscal and monetary policy
Price floors and ceilings
Keynesianism and Supply-Side economics
Section III: Essays
There are six essay topics. You will be required to answer three of the six questions. The essays will focus on the following topics:
Subsidy policies and effects
Comparing European economic policy
(primarily
Economic inequality (causes and consequences)
The “pathologies of politics” and the effects of “lump sum purchasing” or “collective choice”
Comparing Keynesianism with Supply-Side economics
Trade, comparative advantage, and outsourcing