- Milton Friedman argued that the only relevant test of a theory is its ability to successfully predict outcomes, and therefore that the realism of assumptions is irrelevant. Do you agree? Answer with reference to the perfect competition model discussed in week 2 and example(s) of your choice.
- Is ‘nudging’ a desirable way for governments to go about public policy? Why/why not? Answer with reference to theoretical content from the module and example(s) of your choice.
- How effective is market competition in determining the size of companies? To answer, use theoretical knowledge gained from the module and example(s) from a sector or industry of your choice.
- Is the notion of ‘market failure’ enough to determine the appropriate level of state intervention in the economy in a given industry or sector? Use theoretical content from the module and example(s) of your choice to illustrate your argument.
- Critiques of the statistic GDP are now very widespread, but despite a plethora of alternative measures of progress and ‘beyond GDP’ policy initiatives having been developed, the pursuit of GDP remain central to economic policymaking. How can we explain that paradox? Use example(s) of your choice to illustrate.
- Should social reproduction be classed as an economic activity, and what are the implications of your answer to that question for economic policymaking? Answer with reference to theoretical content from the module and example(s) of your choice.
- Are states or markets more effective in driving economic growth? Answer with reference to theoretical content from the module and example(s) of your choice.
- Can the environmental damage caused by economic growth be adequately offset by the ability to substitute human capital for natural capital? Answer with reference to theoretical content from the module and example(s) of your choice.
- Which measure, or measures, of economic inequality are the most significant, and why? Answer with reference to theoretical content from the module and example(s) of your choice.
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