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Economics Homework One - Model (view source)
Revision as of 19:09, September 13, 2009
, 19:09, September 13, 2009added one
4. What is the “invisible hand”? Discuss what it is, using an example (which could be from the story in the lecture about the making of a pencil).
4. What is the “invisible hand”? Discuss what it is, using an example (which could be from the story in the lecture about the making of a pencil).
:
:The Invisible hand is an unseen movement that guides and motivates people to work hard in order to benefit themselves and society. It is the force that guides people to do the work that is needed in order to improve society. The invisible hand represents all the social good incidentally caused by individuals pursuing their own self-interest. An example can be something as simple as a book. In order to make a book you have to have all the basic supplies, such as the paper, the ink, the author, and the publisher. What is a book if there is no writing in it? The author creates the story, then uses the ink and paper to write it down. A publisher then comes in and makes it possible for society to read it. Books are very important things, often times they teach us things we do not know. They are able to improve society through knowledge. (Amanda)
5. There are many parables by Jesus in the Gospels of Matthew and Luke (and one in Mark) which use familiar concepts of money and economics in order to teach a deeper, more profound spiritual point. Examples are at Matthew 13:18-23 and 44-46; Matthew 18:21-35; Matthew 20:1-16 and 21:33-46; Mark 12:41-44; Luke 7:36-50; Luke 12:13-21; Luke 14:15-24; Luke 15:8-10; Luke 16:1-13 and 19-31; Luke 18:9-14; and Luke 19:11-27. Pick one of these parables and explain both the economic point and the deeper spiritual point. Extra credit: why might the Gospel of Matthew have more economic parables than the Gospel of Mark does?
5. There are many parables by Jesus in the Gospels of Matthew and Luke (and one in Mark) which use familiar concepts of money and economics in order to teach a deeper, more profound spiritual point. Examples are at Matthew 13:18-23 and 44-46; Matthew 18:21-35; Matthew 20:1-16 and 21:33-46; Mark 12:41-44; Luke 7:36-50; Luke 12:13-21; Luke 14:15-24; Luke 15:8-10; Luke 16:1-13 and 19-31; Luke 18:9-14; and Luke 19:11-27. Pick one of these parables and explain both the economic point and the deeper spiritual point. Extra credit: why might the Gospel of Matthew have more economic parables than the Gospel of Mark does?