USC Economics Discussion

Choose 1 topic to write a 6 paper essay on. Must use relevant sources (preferably using “An Outline of the History of Economic Thought” ). Must use correct MLA citation.

1. What is monetarism? What was the desired outcome, and what was the key tool to achieve that outcome?

2. Distinguish between Friedman’s monetarism and Lucas’. What did they share? How did they differ?

3. What are the key assumptions that allow the Arrow-Debreu conclusion that a position of general equilibrium in an economy is possible?

4. Defend the following claim: It is ironic that the Arrow-Debreu conclusion was finalized just as the economics profession turned in the late 1950s and early 1960s to widespread economic planning.

5. What is the core message of the Coase Theorem and how has impacted law and economics?

6. What is the core message of Arrow’s Impossibility Theorem and how has it impacted economics?

7. Compare and contrast two different theories of justice described in Screpanti/Zamagni, ch. 10.