Ch 60: MTEL History: Economic Theories

About This Chapter

Improve your understanding of the economic theories of Karl Marx, John Maynard Keynes, and other major theorists. If you are preparing for an exam or class discussion, these lessons and quizzes can help boost your confidence by testing your knowledge of the topics in advance.

Economic Theories - Chapter Summary

With this chapter on economic theories, you can review Milton Friedman's monetary policy, and compare the ideas of Adam Smith and Karl Marx concerning the economy and capitalism. By the end of the chapter, you should feel confident and prepared to:

  • Discuss theories of economists Adam Smith, David Ricardo, and Thomas Malthus
  • Explain Karl Marx's theory known as economic determinism
  • Compare the theories of Adam Smith and Karl Marx
  • Summarize John Maynard Keynes' economic theory
  • Explain how Milton Friedman contributed to the field of economics

The clear and easy-to-follow teaching style used by our educators can help you quickly get up to speed on economic theories. A brief quiz is available for each lesson to test your knowledge. Each of the video lesson includes a full written transcript that you can print and use to study on the go.

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Other Chapters

Other chapters within the MTEL History: Practice & Study Guide course