Review sheet Midterm

Review sheet Midterm - ECON 311 Midterm Review Summer 2011...

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Unformatted text preview: ECON 311 Midterm Review Summer 2011 Álvaro LA PARRA PÉREZ You should be familiar with all the material that we have covered on the reading list, and in the lectures. – The English origins of the colonies. The colonial charters, why they were issued, how they operated. The creation of property rights in land. Free and Common Socage. The importance of land in an agrarian economy. How increasing productivity in agriculture produced economic growth. The relative importance of agriculture and manufacturing in the early 19 th century. Relationship between land/labor ratio and productivity of land and productivity of labor. – The patterns of trade during the colonial period. You should know which products each region specialized. Comparative advantage and its relationship with economic growth. Difference between intensive and extensive economic growth. How did David find conjectural estimates for American economic growth between 1790 and 1840?...
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