Assignment 1

Economics: Making Sense beyond Common Sense

Word Limit: 700 to 800-words.

Instructions

This assignment, asks you to prepare a short-essay response (approximately 700-800 words or two to three, typed/word-processed pages) to one of the three questions presented below. Do not answer all three.

You must use an appropriate citation style (such as APA Style) when quoting or making references to these sources in your responses.

Short-Essay Questions

1.1 Unit 1 distinguishes between the concepts of "common sense," "social science," "ideology," and "knowledge." What impact does "common sense" have on the way ordinary people think about economics? Does "common sense" also have an impact on the way professional economists think and write about economics? Substantiate your answer using the concepts of "ideology" and "knowledge."

1.2 What is the subject matter of economics? What role does the "division of labour" play in defining this subject matter?

1.3 Unit 1 distinguishes between "mainstream" and "critical" perspectives on economic issues. What are the fundamental differences between the "Mainstream" and the "Critical" perspective?