Question

Outline the core elements of the classical approaches to value theory and contrast them with Marx's approach and subjective approaches. Which of these do you find most convincing and why? Advice: i. You can draw insights from lectures and the associated readings. Although you may have dealt with some of the scholars participating in these debates in year 1 (like Smith, Ricardo and Marx), the aim of this essay is different. The focus is NOT on personalities per se, instead, the emphasis will be on the idea of value specifically and theories about it. 2. Make sure you answer all parts of the question and that your answers contain clearly articulated, consistent arguments and ground them in primary sources and readings, as much as possible. 3. You are expected to have engaged with essential and recommended readings at the very least and evidence this in your essay with appropriate references. 4. Essays that simply reproduce from micro economics books.

          Outline the core elements of the classical approaches to value theory and contrast them with Marx's approach and subjective approaches. Which of these do you find most convincing and why? 

Advice: i. You can draw insights from lectures and the associated readings. Although you may have dealt with some of the scholars participating in these debates in year 1 (like Smith, Ricardo and Marx), the aim of this essay is different. The focus is NOT on personalities per se, instead, the emphasis will be on the idea of value specifically and theories about it. 
2. Make sure you answer all parts of the question and that your answers contain clearly articulated, consistent arguments and ground them in primary sources and readings, as much as possible. 
3. You are expected to have engaged with essential and recommended readings at the very least and evidence this in your essay with appropriate references. 
4. Essays that simply reproduce from micro economics books.

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