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5SSPP201: POLITICAL ECONOMY: APPROACHES, CONCEPTS, AND ISSUES

Examination Period 1 (January 2020)

TIME ALLOWED:  TWO HOURS

ANSWER TWO OUT OF THE FOLLOWING SEVEN QUESTIONS .

ANSWER EACH QUESTION ON A NEW PAGE OF YOUR ANSWER BOOK AND WRITE ITS NUMBER IN THE SPACE PROVIDED.

Answer TWO questions of your choice from the list below.

All questions carry equal marks.

1.     Is Max Weber’s view on the origin of capitalism correct?

2.     Does Keynesianism rest on realistic assumptions on human nature?

3.     Are ideas determined by material interest?

4.     What is the Tragedy of the Commons, and what are solutions to the Tragedy of the Commons?

5.     What is the relevance of political institutions for economic development?

6.     Are markets based on a planned or a spontaneous order?

7.     What are the implications of the collective action problem for the concepts of Karl Marx and Karl Polanyi?