Problem 1. According to Marx, capitalism was doomed. Describe why. Why does capitalism still exist?

Problem 2. How and why did Soviet households and firms participate in the second economy? With what consequences?

Problem 3. is China a market-socialist economy? Describe.

Problem 4. In principle and in practice, how were shortages resolved by planners and by managers in materialbalance planning? With what consequences?

Problem 5. Why is Soviet economy explained as having a sellers' market? How did planners and managers contribute to this condition? With what consequences?

Problem 6. Explain the Soviet Rapid Development Model adopted by China in early 1950s, and its subsequent modifications in the 1960s and 1970s.

Problem 7. According to Polyani, how is distribution/production organized in tradition-oriented economies?

Problem 8. Use principal-agent model to explain how Soviet economy operates. With what consequences?

Problem 9. How does planning substitute for market allocation, in theory and in practice? Does it matter if planning is directive or indicative?

Problem 10. How does the caste system, legally abolished in late 1940s, survive in India? In what ways does impede/itenhance economic development? According to Rosser and Rosser, does the caste system describe why India remains a ‘poor' country? Why India is not able to escape poverty?

Problem 11. Is socialism feasible? Viable? Who contributed to this debate, and how does the debate square with reality?

Problem 12. What characteristics of Islamic religion - Islamic economics tend to influence production/distribution?

You will want to consider/discuss the three principles underlying Islamic economics and practices that tend to occur in Islamic economies. Are these principles and practices evident/practiced in to thesame extent in Iran, Azerbaijan and Kyrgyzstan? Why or why not?