D.   Essay Question from Whole Course (40 points; 40 minutes)

Economic growth is one theme that runs through U.S. economic history.  Studying history can provide a new perspective on recent patterns of growth and on the potential for economic growth in the 21st century.

(A)  Present and explain the aggregate production function that can be used to discuss issues of growth in contemporary and historical contexts. Show the relationship between output per capita (Y/P) and the determining factors.  Based on the equation, what are the theoretical sources of growth?

(B)  Choose three examples of events that contributed to economic growth. There are three time periods: pre-1860, 1860-1930, and 1930-2000.  Choose your examples in such a way that each example addresses one of the  three time periods.

For each example, describe the change.  What changed?  Why?  How?  Did the government play a role? Using the equations in part (A), explain how the change you describe contributed to economic growth.  The more specific and complete your example, the more coherent your writing, and the more appropriate your example to  a discussion of American economic growth, the better your grade.

(C)  As we enter the 21st century, are the sources of economic growth fundamentally different than in the past?  Is the potential for growth fundamentally different?  Defend your answers.
 
 
Return to top

E.  Essay Question from Whole Course
Choose one of the following two questions to answer.  Write your answer on the following one to two pages.

(1) Economic growth is one theme that runs through U.S. economic history.  Studying history can provide a new perspective on recent patterns of growth and on the potential for economic growth in the 21st century.

 To study growth, we can use the equation Y = A F(K_p, K_g, K_h, L, T).  This equation can be transformed to one in which output per capita (Y/P) is a function of a number of factors.

 Choose two different factors of growth.  For each factor, describe its significance in fueling economic growth in a particular time period .  The two time periods (one for each factor) must not be in the same century.  Provide specific historical examples.

 Conclude your essay by explaining how these examples from history can provide a new perspective on the potential for economic growth in the 21st century.
 

(2) Changes in the structure of the economy is a theme that runs through U.S. economic history.  Studying history can provide a new perspective on recent patterns of structural change and on the potential for further change in the 21st century.

 The structure of the economy can be described by what we produce (output of goods, services, or structures),  for whom we produce (households, businesses, government, or the rest of the world), or how we produce (with inputs from the primary sector, secondary (goods) sector, or tertiary sector).

 Choose two different time periods, each from a different century.  Describe the structure of the economy in that period: what was being produced, in what sectors workers were employed.  Discuss what changes evolved, what the forces for change were, and who was directly affected.  Discuss the reaction to structural change.

 Conclude your essay by explaining how these examples from history can provide a new perspective on recent patterns of structural change or on the potential for further change in the 21st century.
 
 
Return to top

D.  Essay Question from Whole Course 

Choose one of the following two questions to answer.  Write your answer on the following one to two pages.  

(1) Your classmate (who has not taken economic history) expresses worry and concern over the prospects for the U.S. banking industry in the 21st century.  "It's never been this way before!  Banking is changing so fast."

 You offer your classmate reassurance by drawing on examples from economic history.  Choose two different time periods from before 1970, each from a different century.  Describe for your classmate what the banking system was like in that period.  Discuss what changes evolved, and what the forces for change were.

 Conclude your reassurance by explaining how these examples from history can provide insight into the ongoing evolution of the banking industry in the 21st century.
 

(2) Your classmate (who has not taken economic history) expresses worry and concern over the treatment of immigrants in the U.S. in the 21st century.  "It's never been this way before!  Immigrants have  always been welcomed into the U.S."

 You offer your classmate reassurance by drawing on examples from economic history.  Choose two different time periods from before 1965, each from a different century.  Describe for your classmate who immigrated during that period:  where were the immigrants from, what were their occupations, where did they settle.  Discuss the treatment of immigrants by native-born peoples in that period (immigration legislation is one possible area you can discuss).

 Conclude your reassurance by explaining how these examples from history can provide insight into the treatment of immigrants in the 21st century.

Return to top

V. Comprehensive Essay Question 

At the recent Volunteerism Summit in Philadelphia, President Bill Clinton announced, "The era of big government is over."  His announcement followed two decades of agitation for a massive scale-back of federal government intervention and regulation, based on a presumption of harmful economic effects of federal government policy.  Write an essay in which you agree or disagree with the following statement:

 If the U.S. economy is going to prosper in the 21st century, federal government intervention in the economy must be limited.

As evidence in support of your argument, provide one example from each of the following four periods:  (1) pre-1860; (2) Civil War to WWI; (3) Interwar (1920-41); (4) post-WWII.  In each example, provide an illustration of either (a) government intervention, its aims, and its effects; or (b) a group within the U.S. that called for intervention, what they hoped to achieve, and why.

Your argument (pro or con) should be clear.  You should write a well-organized, cogent, and thoughtful essay.  Your essay should reflect a thorough understanding of and appreciation for the historical episodes that you recount, as well as an understanding of the trends, themes, patterns, and relationships that occur in and throughout history.  Pick examples that clearly support your argument.

Return to top