9-7-09 - Economics Class Notes 9/7/09 He graded these...

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Economics – Class Notes – 9/7/09 He graded these papers. Examples of problems in the papers: o “Adam Smith thinks that firms can reduce the amount of workers by hiring more capital” Should be: “Adam Smith thinks that firms can reduce the NUMBER of workers by hiring more capital” One uses the word amount to refer to the quantity of something that is measured as a whole – not by its individual… When a weaver constantly travels between their field and their loom, they lose a considerable amount of time” o “They vs. He/She” – The firm uses their resources to help workers become more productive o The firm is singular Maintain a parallel structure within a list of items. When using a word that alludes to a period of time (like Before), be sure to specifiy the exact time. WATCH FOR THE FOLLOWING MISTAKES: its =/ it’s Then =/ than Effect =/affect ASSIGNMENT : CORRECT YOUR GRAMMER ON THE PAPER. Friedrich Hayek (1945) “The Use of Knowledge in Society” Greatest proponent for free markets He did not agree with centralization or large government 1899 – 1992 o Awarded the nobel prize in monetary economics o Rationalizing the economic system Most famous book – “The Road to Serfdom” This book was written in 1994 “The use of knowledge in Society” 1945
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Alfred Marshall founded Neoclassical Economics Neoclassical Economics or Marginalist School of Economics
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This note was uploaded on 01/07/2010 for the course ECON 448 taught by Professor Nonnenmacher during the Fall '07 term at Allegheny.

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9-7-09 - Economics Class Notes 9/7/09 He graded these...

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