problem 1: According to Marx, capitalism was doomed. describe why. Why does capitalism still exist?

problem 2: How and why did Soviet firms and households participate in the second economy (informal economy)? With what consequences?

problem 3: Is China a market-socialist economy? describe.

problem 4: In principle and in practice, how were shortages resolved by planners and by managers in materialbalance planning? With what consequences?

problem 5: Why is Soviet economy described as having a seller's market? How did planners and managers contribute to this condition? With what consequences?

problem 6: Describe the Soviet Rapid Development Model adopted by China in early 1950s, and its subsequent modifications in the 1960s and 1970s.

problem 7: According to Polyani, how is production/distribution organized in tradition-oriented (pre-market) economies?

problem 8: Use principal-agent model to describe how Soviet economy operates. With what consequences?

problem 9: How does planning substitute for market allocation, in theory and in practice? Does it matter if planning is directive or indicative?

problem 10: How does the caste system, legally abolished in late 1940s, survive in India? In what ways does itenhance/impede economic development? According to Rosser and Rosser, does the caste system describewhy India remains a ‘poor’ country? Why India is not able to escape poverty?

problem 11: Is socialism feasible? Viable? Who contributed to this debate (include at least 5 participants), and how does the debate square with reality?

problem 12: What characteristics of Islamic religion/Islamic economics tend to influence production/distribution?

You will want to consider/discuss the 3 principles underlying Islamic economics and the 5-7 practices that tend to occur in Islamic economies. Are these principles and practices evident/practiced in to thesame extent in Iran, Azerbaijan and Kyrgyzstan? Why or why not?