Bob Cropf

Essay question #2

In 1, class stuff on February 21, 2009 at 7:43 AM

The answer to the second essay question is due on Wednesday March 11.

Essay Question #2

A key assumption underlying modern economic thought is that humanity behaves according to the rational actor model (e.g. homo economicus). Simply put, the term refers to economists’ theory that humanity is driven primarily by rational, self-interest (i.e., we respond to incentives and trade-offs). Use the rationality model to explain the causes of the current financial crisis.


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