1. Write an essay on the causes of the American Civil War. What were the economic factors that led to this conflict? What were the competing economic philosophies that fueled the conflict? Why was the conflict settled militarily rather than legislatively? How was the US economy transformed as a result of the Civil War?
2. Write an essay on Adam Smith and Karl Marx. In what ways did the two economists agree? What were their differences? What were their views on the Labor Theory of Value? What did Smith and Marx say about the relationship of wages and prices? How did these two economists enrich our understanding of political economy?