ECON 4960                                                                           Name ________________ 
Senior Seminar                                                                        
Final Exam  

Answer question four (4) and two (2) of the previous three (3):  

1.        Johnson suggests a number of things have gone wrong in promoting economic development.  Do these same 
conditions exist today?  Is there any evidence we are learning from the past?  In the past there were intellectuals 
who believed the Great Depression showed the inadequacy of the Capitalist System.  More recently others have 
claimed the Socialist/planned economic system approach to economic activity has proved a failure.  What do 
you see as evidence in the twentieth century?  Has the picture of conditions and trends identified by Johnson  
remained relevant and hopeful?  What relevant trends/conditions do you see as continuing?

2.      Reich sees significant changes in the American and global economies.  What are they?  From a critical 
perspective, why have these changed?  What implications does Reich see?  How does what Reich says 
about the global web contrast with Johnson ’s view of international trade?  How do you weigh the evidence 
and why?

3.      What issues does Johnson see in the environment?  What economic concepts are relevant in this situation?  
Given that this article was published 30 years ago, is it still relevant?  Explain.  Are there new issues or problems 
that you see?  Do they relate to what you have seen the past?

4.         No special preparation required only general knowledge and application. Choose A or B.

                a.  In retrospect, I see the importance of my degree in the following way.  I see my weaknesses as         
                    ___________.

                b.  Key factors in education have been __________________.  

                    Explain.  I see my weaknesses as ___________.