Questions and Answers of Economics For Healthcare Managers

Have most development models been tested? Why or why not? If so what results were found?
Many say that economic globalization is a two-edged sword with positive and negative aspects. What are some of the positive aspects? Negative?
What does “development mean”? What are some of the groups that encourage development today? (I am meaning government foreign aid, NGOs, and local investors.)
What has been the relation between imperialism and foreign trade?
What was the “spice route”? What replaced, in part, its function? Can you give an energy argument for that?
What early economist might be especially interested in seeing the degree of globalization that has taken place?
Why do you think the world economy has been so globalized?
How might biophysical limits affect economic performance as we enter the second half of the age of oil?
How much did debt expand in the first decade of the twenty-first century? What were the economic outcomes?
How did the Clinton Administration carry on the neoliberal agenda? How did low oil prices during the 1990s affect US economic performance?
To what degree was the neoliberal program of the Reagan era successful? What were the economics and social costs of this success?
What are the major tenants of the conservative growth agenda, also known as neoliberalism?
Why was the “New Economics” unsuccessful in eliminating stagflation?
What other factors led to the erosion of the pillars of postwar prosperity?
What is stagflation? What was the role of peak oil in bringing about stagflation in the United States?
Why was the “New Economics” of the 1960s successful in stimulating economic growth?
Why could the period from the end of the Second World War be characterized as the era of economic growth?
How did the world oil industry, and the US role in it, change in the years after the Second World War?
What was the role of the Second World War in transforming the US economy?
What was the New Deal? What problems did it try to address, and what was its major legislative accomplishments? How successful was the New Deal in restoring American prosperity?
What were the four “pillars of postwar prosperity?” Explain how each helped set the stage for the long economic expansion of the 1950s and 1960s.
What was the “Treaty of Detroit?” How did it impact postwar labor relations in the United States?
How might the end of cheap oil change the way that our industrial economy operates?
A general problem of industrial capitalism is that the economy is usually unable to absorb all that is produced by the very productive fossil-fueled economy. What were some of the approaches used in
“The ideology that markets would find their own efficient equilibria was dealt a near fatal blow by the depth of the 1930s depression. The New Deal and the General Theory of Employment, Interest,
Do you think the basic business conditions of the early 1900s were very different from those of today? Why or why not?
What was the objective of the Sherman Antitrust Act in 1890?
Can you give several perspectives on the role of competition in the economy?
What was the relation of the rise of coal to skilled labor?
What is an epoch-making innovation?Can you give three examples and tell how each is related to energy, and do you believe there are any happening now?
What was Henry Ford’s idea about guaranteeing sales for his Ford automobiles?
Why didn’t the end of the kerosene age mean the end of Standard Oil?
We see kerosene replacing whale oil, and electricity replacing petroleum, both fairly rapidly. What do you think will replace electricity, if anything?
What is horizontal integration? How was it accomplished by Standard Oil?
What is vertical integration?
What was the first large-scale use of petroleum? What resource was it replacing?Why?
What is an oligopoly?
How did the emergence of the fossil fuel age result in a concentration of political and economic power?
With many alternatives, why do you think that we have continued to rely so much on oil and other hydrocarbons?
What does “cheap oil” mean relative to the remaining oil we might be able to extract from the Earth?
How is natural gas related to oil?
If there are huge amounts of oil left in the Earth, does this imply adequate supplies for the foreseeable future? Why or why not?
What were Hubbert’s basic ideas?
What does EUR mean? How is it related to peak oil?
Is peak oil a fact or a concept? Defend your view.
We have been told that we live in an“information age.” Argue for or against that statement.
What are energy-dense materials?
What is meant by the phrase “the first half of the age of oil”?
Why was Spindletop an event of great economic importance for the United States?
Although energy is barely discussed in physiocratic, classical, or neoclassical economics, explain how each of these schools of economic thought focuses on the dominant energy flows of their time.
What factors are likely to influence your own economic success in life?
What does the word biophysical mean?How does it relate to economics? With what word(s) would you contrast it with?
What does surplus energy mean to civilizations?
Name at least two important legacies of the reign of Ferdinand and Isabella.
Many former dominant human cultures have collapsed. Can you give an example and the reasons thought likely for that happening?
What was the relation of agricultural surplus to human specialization?
The human use of fire assisted in opening a huge new food resources of agriculture for humans. Can you explain what the connection might be?
How does agriculture concentrate energy for humans? How does this process support a larger population?
How are spear points related to energy?
Discuss several examples of how preagricultural humans exploited solar energy and the relation of the energy they obtained to their own personal energy investments.
What does sustainability usually mean within conventional economics? What might be some problems with that definition?
Why does theory matter in economics?
Why have neoclassical economists attempted to generate a “value neutral”approach to economics? To what degree have they succeeded, in your opinion?
Does an increase in income of, say, 1000 dollars have the same meaning for a wealthy person as for a poor person? How does that relate to the usual economist’s position on Pareto optimality?
Do you think that having greater amounts of money to spend will make you happier? Why or why not? Do you think wealthier people that you know are happier than poorer people?
What are thought to be (within conventional economics) the main characteristics of homo economicus (or“economic man”)?
What does validation mean? Why is this often difficult for economic models?
What, in your opinion, should be the proper boundaries to be used in economic analysis? Can you draw a picture of how you would represent these boundaries?
Economic productivity in neoclassical economics is usually represented as a function of capital and labor. Do you agree with that perspective? Why or why not?
Nicholas Georgescu-Roegen and his student Herman Daly are economists.Why are they such critics of conventional economics?
Why is the circular flow model of the economy inconsistent with the laws of thermodynamics? Is that possible?
What are some of the “myths” of neoclassical economics? Do you agree that these are myths? Why or why not?
What earlier economist probably had the largest impact on what is taught today in basic economics courses?
What are the main two views as to whether economies can balance supply and demand?
What important factor did the Cobb-Douglass production function leave out?
Did Mill think about the distribution of wealth?
Was Karl Marx principally interested in communism?
What is the “best first principle?”
Discuss comparative advantage.
What did classical political economy have to say about the distribution of wealth?
How did Keynes think we could diminish the large swings in the capitalist economy?
What was the “diamonds vs. water”paradox? How was it resolved?
Give one of the great economic ideas derived by David Ricardo.
What was the “Wealth of Nations?” How does that relate to the title of this book?
What is the source of wealth for a physiocrat? A classical economist? A neoclassical economist? Yourself?
What is natural capital?
List four major schools of economics over time and one idea associated with each
Discuss one of the four main economic questions.
What are Heinberg’s “five strategies for obtaining energy?”
What is economic surplus?
Define relative vs. absolute scarcity.
Where did the early group of economists known as the physiocrats believe that wealth came from?
Why do you think economists have tended to ignore energy in their basic equations? Were they justified in doing that?
Can you think of a “peak oil” situation that occurred 150 years ago? Does that have any relevance today?
What ideas did you get in this chapter from earlier economists that you think might be important for understanding our current situation?
How is a city like a natural ecosystem?How is it different?
Do you think that combining natural science and economics is a good idea?Why or why not?
present a case for the importance of writing well.
recognize the value of attentive listening, and
identify the components of communication (sender, receiver, and message),

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