This Assignment Requires You To Write A 6-10 Page Paper, Inc

This assignment requires you to write a 6-10 page paper, including bibliography and references

This assignment requires you to write a 6-10 page paper, including bibliography and references, on a topic in the history of economic thought. The proposal (a typed outline that includes the sources you propose to consult) earns you up to five points and is due by 6 PM on Tuesday, October 15. The paper itself earns up to twenty points and is due by 6 PM on Thursday, November 14. Together, the proposal and the paper are worth 25% of the final grade.

The proposal should not be a summary of the paper; it should be an outline and list of sources. The chosen topic must relate to some aspect of the history of economic thought, such as the life and work of an economist prior to 1939, a school of thought in a particular country, the development of economics in a country or over a period, the evolution of a concept, or how a topic or event has been discussed by economists over time. Topics should be narrow and focused.

Research can be conducted using recommended resources including Alessandro Roncaglia’s A Brief History of Economic Thought, the New Palgrave Dictionary of Economics, and library or online sources accessible through university or public libraries. Web sources may be used thoughtfully and cited properly.

The paper must be typed in Times New Roman 12-point font, double-spaced, with one-inch margins. It should be between 5 and 8 pages of content (excluding bibliography and cover page). The full name and word count should appear on the cover sheet. Diagrams may be included as appropriate. The final submission must be in PDF or Word format and submitted through the designated platform by the deadline.

Deadlines are October 15 for the proposal, October 31 for a draft, and November 14 for the final paper. Late submissions will incur penalties. Students are expected to adhere to academic integrity policies.

Paper For Above instruction

The chosen topic for the paper is the "Monetary and Trade Cycle Theory," with a focus on how the existence and functioning of money influences economic activity and people's lives. This investigation will include a detailed explanation and analysis of monetary and trade cycles, with particular emphasis on Friedrich Hayek's theories. Hayek's contributions will be contrasted with those of John Maynard Keynes to highlight differing perspectives on economic fluctuations.

The paper will begin with an introduction providing background information on Friedrich Hayek, emphasizing his role and influence in economic thought. It will then proceed to explain and analyze the concepts of monetary cycles and trade cycles, drawing on relevant theories and literature such as Daniel Liberto's "What is Monetary Theory," Kirti Shailes's "Trade Cycle: Meaning, Features and Theories," and Roger W. Garrison's "Hayekian Trade Cycle Theory: A Reappraisal." The discussion will include historical context and key features of these cycles.

Next, the paper will examine Hayek's theories on the trade cycle, elaborating on his Austrian business cycle theory which emphasizes the role of monetary policy, credit expansion, and misallocation of resources. This section will analyze how Hayek believed monetary disturbances lead to economic fluctuations, and how his view compares to traditional Keynesian explanations that focus on aggregate demand and government intervention.

The contrast between Hayek and Keynes will be a central theme, highlighting their differing assumptions about market function, the role of government, and the cyclical nature of economic activity. While Hayek emphasizes spontaneous order and market corrections, Keynes advocates for active policy measures to stabilize the economy.

The conclusion will synthesize key insights from both theories, discuss their implications for understanding current economic cycles, and reflect on the relevance of these theories in contemporary economic policy debates. The paper will utilize the selected references and incorporate critical analysis to offer a nuanced understanding of monetary and trade cycle theories through the lens of Hayek and Keynes.

References

• Liberto, D. (Year). What is Monetary Theory.
• Shailes, K. (Year). Trade Cycle: Meaning, Features and Theories.
• Garrison, R. W. (Year). Hayekian Trade Cycle Theory: A Reappraisal.
• S. M. (Year). Keynes’s Theory of Business Cycle, Economics.
• Additional scholarly articles and books on Hayek, Keynes, and business cycle theories to be included as research progresses.