10 Haziran 2013 Pazartesi

Study Questions for ECO 422

1- Some figures of a capitalist firm for the year 2011 are as follows: 
Raw Materials: 125
Intermediate Goods: 325
Lighting Expenses: 50
Machines: 550 (obtained at the beginning of 2011)
Depreciation Rate: 50%
Labor Costs:350
Rate of Surplus Value:150%

According to information above calculate the following amounts for 2011:

a)      surplus value.
b)      Cost price or cost of production
c)      Value
d)      rate of profit for this firm
e)      Price of  Production (average rate of profit in the economy is given as 40% )
f)        Deviation of price of production from value
g)      Organic composition of capital

2- According to Marx, how does tendency for the rate of profit to fall operate in a capitalist economy? What are the counteracting influences?

3- What is primitive accumulation? What is the role of primitive accumulation in the development of conceptual framework of classical political economy?

4-What are the main differences between classical/marxian and so called neoclassical schools in terms of value and price theory?

5- In his Theory of Capital, Jevon’s main purpose was to refute Ricardo’s claim that wages are inversely related with profits. Explain and evaluate Jevon’s views on this issue. 

6- Imagine an roundtable discussion between John Bates Clark and Karl Marx on collective bargaining between unions and corporations.
Clark says: Unions are not necesssary for workers. Because wages.......

Marx replies: ......

7-According to Marx, why the organic composition of capital must rise with accumulation?

8- According to same bearded man, what is the relationship between capital accumulation and economic concentration?

9-What are the institutional factors of general equilibrium theory of Walras? How did Walras defend these assumptions?

10-Explain the problem that Clark faced in developing his theory of capital and Böhm-Bawerk’s solution proposal to it. How does Böhm-Bawerk’s solution relate to marginal utility?

11-What are the similarities and differences between Walras’ Law and Say’s Law?

12-Explain Veblen’s views on social evolution, and his criticism against Marxists and neoclassical economists. Also explain the role of social instincts on social evolution.

12-Why is the role of entrepreneur in neoclassical school identified with the myth of Sisyphus?

13 What is the importance of Methodenstreit in the development of neoclasscial approach?

14- Explain the concepts below:
Absentee ownership
Consumerism

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