Economic Research Paper on GNP GDP and GDP per capita

Essay Organisation(8-10 pages long).


   1-2 paragraphs.  Preferably one paragraph with a thesis statement. If two paragraphs, do make the second paragraph larger and contain a thesis statement.

  1. Primary Source Section(3-4/4-5 paragraphs)

    Paragraph sample:  Explain data in a World Trade Organisation graph. 3-4 sentences. Then close with a few sentences containing your thoughts. Also, feel free to include two physical graphs or charts in the primary source section. You may break the paragraph in two and place the chart or graph in the middle of the page.

  1. Secondary Source Section(5-8 paragraphs/8-10 paragraphs).

   Paragraph sample:

  A few sentences giving  Joseph Stiglitz’s views on present world economic growth.  A few sentences explaining Thomas Piketty’s arguments. A few sentences from the Wall Street JournalThe Economist, etc. A few bits from the Oatley text.  Lastly, close with your own comments in a few sentences.

III. Comparative Analysis(5-8/8-10 paragraphs).

 Argue and defend why your primary source data add on or weakens the arguments of the scholars whose works you use(Joseph Stiglitz, Paul Krugman, etc).

  1.  Synthesis:

      3-4 paragraphs giving your future insights about the topic.

  1. Basic Terminology: Do incorporate as many of the listed financial historical terms into each of the two essays as needed. **Remember to consult the required Hubbard and Kane text, the recommended Backhouse text as well as class lecture notes and other suggested scholarly books, journals, and document sources to assist in the research.**


The Convergence Theory

Adam Smith

Political Arithmetick


Simon Kuznets

GNP, GDP, and GDP per capita



Angus Maddison, James Fallows, Paul Kennedy, and Matt Ridley

“Perfect Competition.”


“Bounded Rationality.”

The Endowment Effect


Loss Aversion and Prospect Theory

“Great Power Imbalance”

Roman Hardware and Software

Institutional Software

Internal Economic Stagnation-Economic Imbalance

King Croessus

The House of Egibi

Currency Debasing


Zheng He, Kublai Khan, and Zhu Di

Estate Management

Plato’s “Ideal State”

“Justice and Exchange” as well as “Acquisition of Wealth” by Aristotle


Nicole Oresme

The School of Salamanca

Sir Thomas Smith

The Balance of Trade Doctrine

Rate of Interest and Case for Free Trade

The Recoinage Crisis of the 1690s

John Law




For the basic terminology please choose some words that are related to the topic and include them in the essay.

Required Texts:

Hubbard, Glen and Kane, Tim BalanceThe Economics of Great Powers from Ancient Rome to Modern America. (2013).