The question (15 marks)
Trace the development of the definition of economics from the wealth definitions to the modern growth definitions, explaining what objection each stage answers. Which definition would you adopt, and why does the choice matter to a student of law? (15 marks)
Standing MU question on Module 1 head 1. Built from chapter 01 and quick reference sheet 1.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 1 · Foundation of Economics of Economics.
Authorities you will need
- Adam Smith, J. S. Mill and F. A. Walker on wealth
- Alfred Marshall, Principles of Economics (1890)
- Lionel Robbins, Nature and Significance of Economic Science (1932)
- F. Benham and Paul Samuelson
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.