1
What is/are the main argument(s) of neoliberalism?
The main arguments of neoliberalism are as follows:
- Market is efficient regardless of its form
- State is inefficient regardless of its form
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2
Which concept describes the process of increasing movement of goods, information, capital, and financial instruments from one place to another?
- Globalization
3
What are the three principles put forward by Dani Rodrik, a Turkish-American economist that only two of them can be achieved in today's world?
The three principles put forward by Dani Rodrik are as follows:
- Full international economic integratio (globalization),
- Democratic policies,
- Maintenance of nation-states
4
Which theory suggests that human history follows a linear and progressive line towards ever-better life conditions?
- Modernization theory
5
What are the principles on which mainstream economics was built?
The principles on which the mainstream economics was built:
- Reliance on rational agent,
- A substantial value theory,
- An equilibrium approach to study the social
- An optimistic metanarrative of the human history.
6
What are the most prominent issues put emphasis by the French economist Thomas Piketty, the author of Capital in the Twenty-First Century?
- Inequality and climate change are the most prominent issues put emphasis by the French economist Thomas Piketty.
7
What are the main purposes of mathematics used in economics?
The main purposes of mathematics used in economics are as follows:
- It is used as a tool for theoretical research. Algebra, geometry, and numerical examples help to reach conclusions that are otherwise difficult to reach. Quesnay, Ricardo, and Marx are known to have resorted to numerical examples in their works.
- It is used as a tool in empirical research to generalize observations and test theories using real-world evidence.
8
Which development provided the use of more sophisticated techniques possible?
- Developments in information technology, i.e laboratory and fieldwork experiments
9
What is/are the turning point(s) in the development of contemporary economic methodology?
- Game theoretical, econometric, and experimental methods are the three turning points in the development of contemporary economic methodology.
10
Which concept characterizes the use of mathematical methods to verify or falsify economic theories?
Econometrics
11
Who introduced the probability approach to the scientific literature?
- Trygve Haavelmo (1911-1999) is known as the person who introduced the probabilistic approach to scientific literature.
12
Which methods are used to analyze the economic problems, that are essentially related to the functioning of markets rather than human behavior?
- Experimental methods
13
Which influential work demonstrates the uncertainty caused by a lack of information that could lead to market failure?
- The Market for Lemons (1970) by George Akerlof
14
What is/are the most common aspect(s) in the work of Adam Smith, John Stuart Mill, and Karl Marx?
They did not isolate the economy from its social, cultural, and historical context.
15
In the 1950s, which economic approach emerged with the notable contributions of Gary Becker?
- Economics Imperialism
16
What is the main element of Becker’s approach?
The main element of Becker’s approach was that any kind of human behavior can be explained by rationality
17
What differentiates economics from other social sciences, according to Becker?
According to Becker, what differentiates economics from other social sciences is its methodology, not its subject matter
18
What is the main criticism of cliometrics?
- The main criticism of cliometrics is its use of history as a laboratory to test economic theories.
19
In order to represent inequality, what do economists use?
- In order to represent inequality, economists use a measure called Gini Coefficient
20
What is the global problem that 141 countries agreed in 1997, Kyoto Protocol?
- Carbon Emissions.