Major Figures in the Development of the Field of Economics


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Which of the following economists would acknowledge that government plays an important role in economics, but that the role is more related to government spending and monetary policy than the direct allocation of resources?

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1. Which of the following economists would be most likely to support employee unions and other ways to protect the rights of the working class?

2. Which of the following economists would be in favor of government having a very 'hands-off' approach when it comes to the economy?

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About This Quiz & Worksheet

Economics began when human beings monetized their relationship with other human beings, creating markets and engaging in trade. The study of economics possesses a rich history of dynamic thinkers with unique philosophies that span centuries in time and practice. To succeed on this quiz, you will need a good understanding of economic theory and history.

Quiz & Worksheet Goals

To gauge your understanding of the major historical figures of economics, you will be quizzed on the following:

  • Significant economists of the past three centuries
  • What each influential economist proposed philosophically
  • Key economic concepts discussed in The Wealth of Nations

Skills Practiced

  • Critical thinking - apply your knowledge of the major economists' philosophical principles to modern economic issues
  • Distinguishing differences - contrast and compare the theories of some of history's most influential economic theorists
  • Reading comprehension - ensure that you draw the most important information on each economic thinker and their contributions to the field of economics

Additional Learning

To learn more on this topic, please refer to the accompanying lesson entitled Major Figures in the Development of the Field of Economics. The lesson covers the following:

  • The philosophical contributions of major economic theorists
  • The unique assumptions of each economic theory
  • The comparative similarities and differences of these theories