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Assignment is belong to a economic history course
Assignment
Reading guide for the Marginalists p. 250-261 p. 264-273• Take note on Jevono Utility theory from Benthamo In contrast to our labor theory of value?o Total utility VS final degree of utilityo Marginal?o Explain relative price equationo Is everyone of us has the same preferences?o Jevon's capital theory against Ricardo's• Take note on Mengero Explain Menger's tableo What are the differences between Menger's table and Jevon's equation?- Neglect price- Supply and demando Explain supply and demand concept that is different than Smith, Ricardo, and Marxo Capital- Good of higher order?o Take note on Walras- Supply and demand?- Why do the marginalists need general equilibrium?- How many sides there are in Walras' system?- Explain- Why does the system need stability?- A crier?
Textbook:- History of Economic Thought A CRITICAL PERSPECTIVE THIRD EDITION by E.K. Hunt and Mark Lautzenheiser
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Jeevon's and Menger's economic thoughts are presented in the report. Focus on the relations of the prices with the supply and demand aspects. General equilibrium consideration. The difference of the specific postulations and equations from the classical theories makes up the discussion of the report.
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This assignment is belong to a economic history course, there is no history Econ subject make sure expert can handle it before take it. Please read the guide carefully and remember no citation please, thank you.
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