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Слайды и текст к этой презентации:

№1 слайд
Synopsis of Adam Smith and
Содержание слайда: Synopsis of Adam Smith and John Maynard Keynes By Emma Shanley

№2 слайд
Adam Smith Scottish Economist
Содержание слайда: Adam Smith Scottish Economist 1723-1790 Born in Kirkcaldy, Scotland 5 June 1723 School in Kirkcaldy 1737—University of Glasgow Studied at Oxford University 1740-1747 Lectured in Edinburgh and Glasgow University between 1748 to 1763. Author of The Publication “The Wealth of the Nations”

№3 слайд
The Power of the Invisible
Содержание слайда: The Power of the Invisible Hand Pursue individual interest Result: Benefit society in general E.g. set up business for profit and create employment for people at the same time.

№4 слайд
Laissez-Faire Promote free
Содержание слайда: Laissez-Faire Promote free trade Build up the infrastructure of the country Provide a legal system Defend the country

№5 слайд
Productive and Non-productive
Содержание слайда: Productive and Non-productive Labour Productive Produced goods for sale Making money to reinvest E.g. Baker

№6 слайд
The Labour Theory of Value
Содержание слайда: The Labour Theory of Value Distinguished between value in use and value in exchange. See my example below.

№7 слайд
The Canons of Taxation
Содержание слайда: The Canons of Taxation Equality– Tax payments should be proportional to income Certainty– Tax liabilities should be clear and certain Convenience: Taxes should be collected in a manner convenient for taxpayer Economy – Taxes should not be expensive to collect and should not discourage business.

№8 слайд
The Division of Labour
Содержание слайда: The Division of Labour Improve the productiveness of labour. For instance, the making of a single pin involves eighteen separate operations, which are entrusted to eighteen separate workmen; and the result is, that whereas one man working alone could make perhaps only twenty pins in a day, several men working together, on the principle of division of labour, can make several thousands of pins per man in one day.

№9 слайд
Exam Questions Examples
Содержание слайда: Exam Questions Examples

№10 слайд
John Maynard Keynes British
Содержание слайда: John Maynard Keynes British Economist 1883 - 1946 Born in Cambridge, England Son of John Neville Keynes Professor of Economics at Cambridge Won a scholarship to Eton and later to Kings College Cambridge Lectured at Kings College from 1908

№11 слайд
Publications A Treatise on
Содержание слайда: Publications A Treatise on Money – 1930 Bestseller The General Theory of Employment, Interest and Money - 1936

№12 слайд
Fiscal Policy
Содержание слайда: Fiscal Policy

№13 слайд
The Theory of the Multiplier
Содержание слайда: The Theory of the Multiplier Injection of money into a business. Creates more income than the amount invested. The formula for the Multiplier is as follows: 1 1 – MPC + MPM + MPT

№14 слайд
The Liquidity Preference
Содержание слайда: The Liquidity Preference Theory of Interest Rates

№15 слайд
Saving and Investments
Содержание слайда: Saving and Investments Savings and Investments were not equal to each other. Savings were greater than the amount that entrepreneurs are willing to invest. Causes underemployment in the economy.

№16 слайд
Exam Question Examples
Содержание слайда: Exam Question Examples

№17 слайд
The End
Содержание слайда: The End

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