"As civilized human beings, we are the inheritors, neither of an inquiry about ourselves and the world, nor of an accumulating body of information, but of a conversation, begun in the primeval forests and extended and made more articulate in the course of centuries. . . . Education, properly speaking, is an initiation . . . in which we acquire the intellectual and moral habits appropriate to conversation."

Michael Oakeshott, The Voice of Poetry in the Conversation of Mankind: An Essay (1959)

"The true task of economics...is to make the logic of things heard in the midst of the passions and interests of public life, to bring to light inconvenient facts and relationships, to weigh everything and assign it its due place, to prick bubbles and expose illusions and confusions, and to counter political enthusiasm and its possible aberrations with economic reason and demagoguery with truth."

Wilhelm Röpke, A Humane Economy (1960)


ECON 3500: Moral and Ethical Aspects of a Market Economy
Fall 2021 - CRN 17071

Class meetings for CRN 17071 are held from 9:30 a.m. until 10:45 a.m.
Here is the university listing of online only, Monday attendees, and Wednesday attendees.


Monday and Wednesday in Lee Hall 172
Professor: Bradley K. Hobbs, Ph.D.

E-mail: hobbs4@clemson.edu

Home Page

Office: 309A The Wilbur O. and Ann Powers College of Business

Office Hours: Zoom by appointment   

A course syllabus is your primary reference for any course. It tells you what the professor expects from you and from himself or herself. If you have a question concerning the workings of the course, turn to this reference first. It represents the "rules of the game" so to speak. If you want clarification or have a question which you feel is not adequately addressed - by all means ask now! By virtue of remaining in this course you have provided implicit agreement with the policies and procedures laid out in this syllabus.

Clemson University Course Description:
ECON 3500 - Moral and Ethical Aspects of a Market Economy - 3 credits
Can a market system produce results that are fundamentally just? Is justice possible without voluntary exchange? Applies both economic and philosophical analyses to these questions. Emphasizes the causes, consequences, and morality of the distribution of wealth and income in a free-market system.
Prerequisite(s): ECON 314 or consent of the instructor.

You'll need to bring your book to class when we are covering it. We will refer to the text directly in class meetings and you may be called upon to read passages. There are numerous articles linked in the syllabus. Please bring these to class on the day we discuss them. You can use a tablet or laptop in this course unless you abuse this privilege by using it for anything other than this course.

NOTE: Buy these specific editions or your pagination will be wrong. You are welcome to buy used copies of the correct edition. Book costs in this course are low. Please purchase the correct books.

1) Kendall, David L. Morality and Capitalism CreateSpace Independent Publishing Platform; First Edition, 2014. ISBN-10: 1503233243     ISBN-13: 978-1503233249

2) Mises, Ludwig von. Liberalism: The Classical Tradition. Liberty Fund, Inc. 2005.ISBN-13: 978-0-86597-585-6       NOTE: (1) There are a several editions floating around on the web. USE ONLY THE LIBERTY FUND EDITION. Liberty Fund offers multiple formats including ebook, pdf, and html: http://oll.libertyfund.org/titles/mises-liberalism-the-classical-tradition-1927-lf-ed

3) Hayek, Friedrich A. The Fatal Conceit: The Errors of Socialism. University of Chicago Press. 1991. ISBN-10: 0226320669      ISBN-13: 978-0226320663

4) Brennan, Jason. Why Not Capitalism? Routledge Press, 2014.  ISBN-10: 0415732972 ISBN-13: 978-0415732970

5) Cohen, G.A. Why Not Socialism? Princeton University Press, 2009.  ISBN-10: 0691143617 ISBN-13: 978-0691143613

6) Rand, Ayn. Atlas Shrugged. 50th Anniversary Edition. Signet, Penguin Group (USA). 1996. ISBN-10: 0451191145 ISBN-13: 978-0451191144  (BUY USED on Amazon or there are plenty of copies floating around.)

7) Bastiat, Frederic, The Law - The .pdf file of The Law is made available here on-line by the Foundation for Economic Education (FEE)

Spring 2021 - IMPORTANT DATES:
Clemson University Academic Calendar for the Spring 2021 Semester

Classes, examinations, and other events will all be listed below in the Course Syllabus and in the Calendar on Canvas.

There MAY also be "Special Events" that can earn you points that count toward your final grade. I have a deep aversion to "extra credit" but being engaged in the academic life of the university is important. Events like these define the academic milieu of a university. For instance, one regular event is the John W. Pope Lecture Series conducted by the Clemson Institute for the Study of Capitalism. I will add any relevant speakers as they are scheduled. There will only be a couple of these events each semester and they are listed as I become aware of them.

Special Events

being engaged with the academic life
of a fine and honest university

Who What When Where


Grading Policies

Clemson University Grading System:


Indicates work of a very high character, the highest grade given.

A range is 100.0% to 90.0%


Indicates work that is definitely above average, though not of the highest quality. B range is 89.9% to 80.0%


Indicates work of average or medium character. C range is 79.9% to 70.0%


Indicates work below average and unsatisfactory, the lowest passing grade. D range is 69.9% to 60.0%


Indicates that the student knows so little of the subject that it must be repeated in order that credit may be received. B range is anything below 59.9%
I--Incomplete Indicates that a relatively small part of the semester's work remains undone. Grade I is not given a student who made a grade F on his/her daily work. Students are allowed thirty days after the beginning of the next scheduled session, excluding summers and regardless of the student's enrollment status, to remove the incomplete grade. Normally, only one extension for each I may be granted, and this under unusual circumstances. The extension must be approved in writing by the instructor of the course and the chair of the department in which the course was taken. The extension will indicate the nature and amount of work to be completed and the time limit. (Students under this policy are prohibited from removing the I by repeating the course.) A letter grade of I converts to F unless the incomplete is removed within the time specified
W--Withdrew Indicates that the student withdrew from the course or was withdrawn by the instructor after the first two weeks of class work and prior to the last seven weeks of classes, not including the examination period. Proportionate time periods apply during summer and other shortened sessions. Each undergraduate student is allowed to withdraw or be withdrawn with a grade of W from no more than 17 hours of course work during the entire academic career at Clemson University. Transfer students may withdraw from no more than 12 percent of the total work remaining to be done in the chosen undergraduate curriculum at the time of transfer to Clemson University up to a total of 17 hours of course work, whichever is fewer. Partial credit for courses cannot be dropped. A student who exceeds these limits of hours or who is enrolled during any part of the last seven weeks of classes shall have final grades recorded. A student may withdraw from the University subject to the restrictions above. Additionally, pending approval from the provost or the provost's designee, students may withdraw from Clemson University one time only during their academic careers prior to the final seven weeks of classes (proportionate time periods apply during summer and other shortened sessions), without reduction from their allotted W hours. Any variance from these restrictions must be approved by the provost or the provost's designee and must be requested within 90 calendar days (exclusive of summer vacation) of the date of the last exam for the term. The student must document the circumstances supporting the request. For financial aid purposes, enrollment is defined and satisfactory academic progress levels are established as of the last day to register or add classes. Withdrawal can negatively impact financial aid eligibility if a student does not complete a sufficient number of hours. Details are available in the publication Financing Your Clemson University Education.

Course Schedule (15 Weeks) :

How to prepare each week's assignments

After Week 1, I expect that you complete the week's assignments prior to the first class meeting with the exception of Atlas Shrugged. Our standard practice will be to discuss the reading assignments in class meetings. Atlas Shrugged will be discussed in the last 15 minutes of the last class meeting of each week.

To prepare for each class you will be required, at the beginning of class, to submit a hard copy of a typed-page with two questions (for M,W,F classes); three questions (for T,Th or M,W classes); or five questions across all assigned readings for the week if the class meets once a week. Questions are not required for pod casts, videos, or Atlas Shrugged - only the readings. These questions can be about clarification, about content, about connections to other readings, a question that further probes the author's ideas, among others.

Your question sets will: (1) be used for class discussion, (2) document your daily attendance, and (3) contribute to your class participation grade. Question sets may be given over to a student at any time to have them conduct the discussion of the readings. At the top of each page include this information: Your Name, class date, the reading(s) covered. If we cover more than one reading in a day indicate at the question level which reading your question pertains to. Maintain all questions in a cumulative Word file. Indicate the reading covered and the date at the start of each page. This cumulative file of all of your questions is due at the end of the semester.

The assigned readings below are by class meeting and indicate the day's question set.

Note - All readings are subject to revision by prerogative of the instructor.



Read and sign if you agree to the conditions of the contract.  Upload the signed contract to Canvas.


General Course Preparation

The Socratic Seminar

If you have never taken a Socratic Seminar or have any questions about your responsibilities in a Socratic Seminar, take the time to watch the videos to the right, by Michael Strong.

In the vein of this Socratic approach go ahead and prepare for Week 1 (below.) We will start into Week 1 materials on the first day of the course.

NOTE: CM = Class Meeting

Required Information
Socratic Seminar - Student Responsibilities
Socratic Seminar - Large Class Size


Additional Information: Videos on Socratic Seminars
Michael Strong - The Habit of Thought Chapter One: On Socratic Seminar
or this You Tube link:
Chapter 1 - http://www.youtube.com/watch?v=6KZvxm0OAkQ

Michael Strong - The Habit of Thought Chapter Two: On Socratic Seminar
or this You Tube link:
Chapter 2 - http://www.youtube.com/watch?v=eu_L-HuQDes

Michael Strong - The Habit of Thought Chapter Three: On Socratic Seminar or this You Tube link: Chapter 3 - http://www.youtube.com/watch?v=Taz4u4oDL60

Michael Strong - The Habit of Thought Chapter Four: On Socratic Seminar
or this You Tube link:
Chapter 4 http://www.youtube.com/watch?v=vO9TVPs78PU

CM 1

Jan 6

Theme: Introduction, Syllabus, Overview

Cover In-Class:
Course Syllabus
Class Contract
Socratic Seminar - Student Responsibilities,
Socratic Seminar - Large Class Size.

Watch In-Class:
Business As A Moral Endeavor

Listen after class:
ECONTALK with Russ Roberts and John Allison, CEO of BB&T Bank on Strategy, Profits, and Self-Interest

I will give you a copy of this book today: Rand, Ayn. Atlas Shrugged.  Watch this short video: https://www.youtube.com/watch?v=0HfJ7km_SxU

Read Chapters 1-4 for our next class meeting and we will discuss them at the end of class.

 Look it up.

CM 2

Jan 11

Theme: What is Capitalism?

(1) Ayn Rand, Capitalism: The Unknown Ideal, Chapter 1 - What is Capitalism?
Source: Signet Books
* Here is a Study Guide for this reading.

Rand, Ayn. Atlas Shrugged, Part I, Chapters 1-4

CM 3

Jan 13


NOTE: NO CLASS MEETING Monday Jan 18 due to MLK Day

Theme: Morality and Capitalism

1. Read and Discuss: Kendall, David L. Morality and Capitalism CreateSpace Independent Publishing Platform; First Edition, 2014. Chapters 1-4

2. https://www.diffen.com/difference/Ethics_vs_Morals

Rand, Ayn. Atlas Shrugged, Part I, Chapters 5 - 6


CM 4

Jan 20

Theme: Morality and Capitalism

(1) Kendall, David L. Morality and Capitalism CreateSpace Independent Publishing Platform; First Edition, 2014 Chapters 5 - end of the book.

Rand, Ayn. Atlas Shrugged, Part I, Chapters 7 - 8

CM 5

Jan 25

Theme: Historical Foundations
(1) Hobbes, Thomas. The Leviathan, 1660.
Chapter XI - Of the Difference of Manners
Chapter XIII - Of the Natural Condition of Mankind as Concerning their Felicity and Misery

(2) Locke, John. Of Civil Government - Second Treatise, 1662.
Ch. IV - On Slavery
Ch. V - On Property

Three-Minute Philosophy: John Locke



CM 6

Jan 27


Theme: What is Classical Liberalism?


(1) Liberalism: The Classical Tradition by Ludwig von Mises, pp. 1-75

Rand, Ayn. Atlas Shrugged, Part I, Chapters 9-10


CM 7

Feb 1

Theme: What is Classical Liberalism?


(1) Liberalism: The Classical Tradition by Ludwig von Mises, pp. 76-151


What is Classical Liberalism?  Emily Chamblee-Wright Video







CM 8

Feb 3


Theme: Institutions and Law

Information about our author this week: Frédéric Bastiat 

(1) Bastiat, Frédéric. Economic Sophisms. First Series, Chapter 7. A Petition The Foundation for Economic Education, Inc. 1996. Trans. and Ed. Arthur Goddard. Library of Economics and Liberty. 1 August 2007.

(2) Bastiat, Frédéric. Economic Sophisms. First Series, Chapter 17, A Negative Railroad The Foundation for Economic Education, Inc. 1996. Trans. and Ed. Arthur Goddard. Library of Economics and Liberty. 1 August 2007.

(3 ) Bastiat, Frédéric. Selected Essays on Political Economy. What is Seen and What is Not Seen The Foundation for Economic Education, Inc. 1995. Trans. Seymour Cain. Ed. George B. de Huszar. Library of Economics and Liberty. 1 August 2007.

Watch: The Broken Window Fallacy


Rand, Ayn. Atlas Shrugged, Part II, Chapters 1-2

CM 9

Monday Feb 8

Theme: Institutions and Law

(1) Bastiat, Frédéric. The Law, pp. 1-45.


CM 10

Feb 10


Theme: Institutions and Law
(1) Bastiat, Frédéric. The Law, pp. 46-82.

Rand, Ayn. Atlas Shrugged, Part II, Chapters 3-4

CM 11
Feb 15


Theme: Institutions and Law

(1) Friedman,Milton. (2002). Capitalism and Freedom. Chapter 1- "The Relation Between Economic Freedom and Political Freedom". Chicago: University of Chicago Press, 1962, pp. 7-17
* Here is a Study Guide for this reading.

ECONTALK with Russ Roberts and Milton Friedman on Capitalism and Freedom


CM 12
Feb 17

Theme: Institutions and Law

(1) Nozick, Robert "Chapter 7, Distributive Justice, Section 1" Anarchy, State, and Utopia. Basic Books, 2013: 149-182; 344-345.

The Philosophy of Liberty

Rand, Ayn. Atlas Shrugged, Part II, Chapters 5-6

CM 13 Monday Feb 22

Hayek: The Knowledge Problem

(1) Author: Hayek, F. A., 1899-1992.
Title: "The Use of Knowledge in Society"
Hayek, F. A., "The Use of Knowledge in Society". American Economic Review . XXXV, No. 4; pp. 519-30. September, 1945. Library of Economics and Liberty. 1 August 2007. <http://www.econlib.org/library/Essays/hykKnw1.html>.
* Here is a Study Guide for this reading.

CM 14

Feb 24

Midterm Examination

Covering all assigned materials thus far including Atlas Shrugged

Guidelines for taking essay examinations.

Writing under pressure - Harcourt College Handbook

CM 15

March 1

Lecture on Marxism: Dr. Hobbs

John Stuart Mill in On Liberty:

"He who knows only his own side of the case knows little of that. His reasons may be good, and no one may have been able to refute them. But if he is equally unable to refute the reasons on the opposite side, if he does not so much as know what they are, he has no ground for preferring either opinion...."



CM 16

March 3



Theme: The Global Socialism of Marx & Engels

Engels, Frederick. “The Principles of Communism,” 1847



Rand, Ayn. Atlas Shrugged, Part II, Chapters 7-8


CM 17

March 8


Theme: American Central Planning under FDR

(1) Rexford G. Tugwell "The Principle of Planning and the Institution of Laissez Faire"

ECONTALK with Russ Roberts and Eric Rauschway on The Great Depression and the New Deal



CM 18

March 10

Spring break. No class  meetings March 15 or 17

Schumpeter: Capitalism's Bleak Future?
(1) Schumpeter, Joseph. (1952) Selection from Capitalism, Socialism and Democracy

ECONTALK with Russ Roberts and Thomas McGraw on Schumpeter, Innovation, and Creative Destruction

Watch: The Make-Work Bias


Rand, Ayn. Atlas Shrugged, Part II, Chapters 9-10

CM 19

March 22



Stage I - Term Paper due March 23

(1) Hard-copy turned by class.
(2) Submitted to Turnitin by 11:55 p.m.

Socialism's Legacy: Lest We Forget by Alan Charles Kors

Class Viewing


CM 20

March 24

Theme: Cohen vs. Brennan

(1) Cohen, G.A. “Why Not Socialism?” 2009


 Rand, Ayn. Atlas Shrugged, Part III, Chapters 1-2




CM 21

March 29

Theme: Cohen v. Brennan

(1) Cohen, G.A. “Why Not Socialism?” 2009

(2)  Brennan, Jason. "Why Not Capitalism?" 2014


CM 22

March 31

(1) Brennan, Jason. "Why Not Capitalism?" 2014

Rand, Ayn. Atlas Shrugged, Part III, Chapters 3-4


CM 23

April 5

Theme: Smoke or Mirrors? Our Leaders and Ourselves

"The American people will never knowingly adopt socialism, but under the name of liberalism they will adopt every fragment of the socialist program until one day America will be a socialist nation without ever knowing how it happened."
Norman Thomas. Six-time Socialist Party presidential candidate and one of the founders of the ACLU.

(1) Haight, Jonathan. The Wall Street Journal. "Jonathan Haidt on the Cultural Roots of Campus Rage, April 1, 2017.

(2) Pluckrose, Helen. AREO Magazine "How French 'Intellectuals' Ruined the West: Post-modernism and its impact, explained"

(3) Lehmann, Clairre. Quillette.  "Camille Paglia: It’s Time for a New Map of the Gender World," November 10, 2018

(4)  https://www.tandfonline.com/doi/full/10.1080/0966369X.2018.1475346

Watch: Anti-PC Writers Tricked Seven Academic Journals Into Accepting Hoax Papers on Dog Rape, Fat Phobia, and More


Want to know more?
Recommended but not required

Read or listen:
Lindsey, Helen and James A. Lindsay. AREO Magazine "A Manifesto Against the Enemies of Modernity"

Watch: (Note: This interview is 1.5 hours long but is far-reaching and complete.)
Postmodernism: History and Diagnosis  Jordan Peterson interviewing Stephen Hicks


CM 24

April 7


Hayek, F.A.
The Fatal Conceit: The Errors of Socialism
Introduction and Chapters 1 and 2

Rand, Ayn. Atlas Shrugged, Part III, Chapters 5-6

CM 25

April 12

Dr. Hobbs is out of town for a clown conference.


Stage II - Term Paper due April 12

(1) Hard-copy turned by class.
(2) Submitted to Turnitin by 11:55 p.m.


Your assignment is to Watch the following two films.

1. Masters Of Money | Part 3 | Karl Marx

2. Masters Of Money | Part 2 | Friedrich Hayek

Creepy Clown Convention

CM 26

April 14

Hayek, F.A.
The Fatal Conceit: The Errors of Socialism
Chapters 3, 4 and 5





Rand, Ayn. Atlas Shrugged, Part III, Chapters 7-8

CM 27 Monday
April 19

Hayek, F.A.
The Fatal Conceit: The Errors of Socialism
Chapters 6, 7 8 and 9



CM 28 Wednesday
April 21

Last Day of Class

Theme: Smoke or Mirrors? Our Leaders and Ourselves

"And we alone shall feed them in Thy name, declaring falsely that it is in Thy name. Oh, never, never can they feed themselves without us! No science will give them bread so long as they remain free. In the end they will lay their freedom at our feet, and say to us, "Make us your slaves, but feed us." They will understand themselves, at last, that freedom and bread enough for all are inconceivable together, for never, never will they be able to share between them!"

The Grand Inquisitor by Fyodo Dostoevsky

(1) Buchanan, James M. (2005) "Afraid to be free: Dependency as desideratum". Public Choice, (124): 19-31.

Rand, Ayn. Atlas Shrugged, Part III, Chapters 9-10

Graded Assignments Percent of Final Grade Coverage Date Due

Class Participation:
This course is a seminar course where you have a deep responsibility to engage in informed discussion. You can only do this by reading and coming to class prepared to discuss the materials that are assigned. Each class meeting be prepared to pose your questions to the seminar participants.


Attendance and
Submissions of Class Meeting
Discussion Question Sets



In-class Contributions to the Discussion
Subjective grade by Dr. Hobbs






Attendance and Submissions of Class Meeting
Discussion Question Sets

To prepare for each class discussion you will be required to submit three (3) questions to propose to the group from the day's reading(s), The questions can be about clarification, about content, about connections to other readings, a question that further probes the author's ideas, among others. Be prepared to pose your questions to the group and to conduct the discussion of your question.

Questions sets must be posted to Canvas by 11:59 p.m. the night prior to the class meeting. Canvas submissions are organized by Class Meeting (CM). If we cover more than one reading in a day indicate at the question level to which reading the question pertains. I will randomly  grade a few of these to give you some quick feedback and also to form your CLASS PARTICIPATION I grade.

Formatting Guidelines At the top of each page format as follows:

Roster number: First Name Last Name
ECON 3500 – Semester YEAR – CRN XXXXX

5, John Doe
January 19, 2020
Bastiat – A Petition, The Negative Railroad, What is Seen and What is Not Seen
ECON 3500 – Spring 2017 – CRN 19775


In-class Contributions

I will assign a subjective class participation grade based upon your individual contributions to the discussions in this course. This is a seminar or seminar-like course (depending upon number of students) and your engagement is crucial to its success. To engage you must be present physically and mentally.

For what is considered good class participation see the class participation guidelines at this link

Maintain all questions in a cumulative Word file for your records. This cumulative file njeeds to be handed in at the end of the semester.

Random In-Class Reading Quizzes may be given periodically at the beginning of class. They will consist of one to three questions. They will factor into your Class Participation grade.


Over the entire course
Celebration of Learning #1 (Midterm Examination) 25%

In class covering all course materials assigned thus far.

Guidelines for taking essay examinations.

Class Meeting 14
Wednesday, February 24

Midterm Examination


Term Paper 30%

See Term Paper Assignment below for important details.

(1) Stage I - Thesis Statement and Bibliography is worth 5% of your final grade.
(2) Stage II - Term Paper is worth 25% of your final grade.

Late assignments are penalized as outlined below.


Stage I: Thesis Statement and Bibliography due Monday, March 22

Stage II: Term Paper due Monday, April 12


Celebration of Learning #2 ( Final Examination)

Your Final Examination has two components: (1) Take-Home Component (20%), and (2) an In-class Component given during our scheduled final examination period during finals week (10%).

NOTE:  Under COVID the entire examination is takehome and counts 30%.



Late Take Home Component loses 10% or one letter grade each day

Guidelines for taking essay examinations.



Final Examination: Take Home Component due Class Meeting 28
Wednesday, April 21

Final Examination: In Class Component 




Term Paper Assignment
The Term Paper is developed in a two-stage process. You need to: (1) hand in a hard copy during the class meeting, and (2) submit each stage in Canvas.

The due date for Stage I and Stage II are above.

  1. The Thesis Statement, Outline, and Bibliography - 5%
    Here are two websites that explain what a thesis statement is, how to construct one, and its purpose. http://writingcenter.unc.edu/handouts/thesis-statements/ and https://owl.english.purdue.edu/owl/resource/545/01/
    Here is a website on how to construct an Outline:https://owl.english.purdue.edu/owl/resource/544/03/
    Here is the rubric I use for grading Stage I: Thesis Statement, Outline, and Bibliography Grading Rubric
    Late papers are penalized 10% or one letter grade per day.

  2. The Term Paper - 25%
    Here is the rubric I use for grading Stage II: Term Paper Rubric.
    Late papers are penalized 10% or one letter grade per day.

CRUCIAL DETAILS on the Term Paper

  1. THE TOPIC MUST BE DIRECTLY CONNECTED TO THE MORALITY OF CAPITALISM. DRAWING UPON SOME TOPIC WE COVERED IN CLASS THAT PIQUED YOUR INTEREST IS THE BEST ROAD TO TRAVEL. It need not support any particular issue we discussed, but it must deal with that contention in an academic way. It must reference at least some portion of the course readings. It needs to be an original paper of your choosing with the topic approved by your professor in the Thesis Statement and Bibliography. Work that has been turned in for credit for a previous course is unacceptable.

  2. There is an annual Atlas Shrugged Essay Contest sponsored by The Ayn Rand Institute and if you wish to use that contest submission for your paper, you may. Follow the Atlas Shrugged Essay Contest paper length guidelines if you choose that option and send me the email acknowledging your submission to the contest.

  3. The crucial part of writing is to be clear and concise. Unless you are a Noble prize winner in economics, the strict word count limit for the paper is 1600 words excluding the Title Page and Bibliography. I will stop reading at end of the 7th page of text, regardless (once again, this excludes the title page and bibliography.)  If you choose to write past the word count I will not read the additional materials but I will assign a grade reflecting the incomplete nature of your paper.  
  4. All papers must be typed, and double-spaced with the pages numbered. The paper must follow APA Style. There are excellent web sources the APA style. If you have grammatical questions I suggest Grammar Girl or this web site or No Red Ink as good on-line sources. I am stunned that some students do not proof read what they hand in to me. That is just a sign of intellectual laziness and it will be a costly mistake for you.

  5. All papers must be run through Turnitin.com a site that checks your work against all work on the web and all papers in their data base for plagiarism. When asked to "Submit Title" label the paper thus: "Last Name, First Name - Title of your Paper". For example, if I wrote a paper titled "Libertarian Themes in South Park" my paper would be submitted as "Hobbs, Brad - Libertarian Themes in South Park". Log into Canvas and click on Assignments in the left-hand column.  Scroll down to the "Thesis Statement, Outline, and Bibliography" and click on it.  Turnitin should open up. Please use your name in the title "Your Name - Thesis Statement Outline and Bibliography" In the unlikely event that you are asked for an Enrollment Password use the CRN number for this course.

    Students agree that by taking this course all required papers may be subject to submission for textual similarity review to Turnitin for the detection of plagiarism. All submitted papers will be included as source documents in the Turnitin.com reference database solely for the purpose of detecting plagiarism of such papers. Use of the Turnitin.com service is subject to the Terms and Conditions of Use posted on the Turnitin.com site.

  6. This is the Term Paper Rubric and here are the proofreading marks I use.

  7. Thesis Statement, Outline, and Bibliography - You are to have a concise thesis and a bibliography that is sufficient to support the topic you are choosing. In your subsequent work I might expect to see some changes to the bibliography but no substantive changes in your thesis statement. If you want examples and suggestions concerning a proper thesis statement look here or here. I grade it using the Thesis Statement, Outline, and Bibliography Grading Rubric . You are not allowed to hand in a paper that has not fulfilled the necessary requirement of an approved Thesis Statement, Oultine, and Bibliography. Any paper without an approved Thesis Statement and Bibliography (i.e. a grade) earns a score of 0/250 for the paper in addition to the 0/50 grade earned for not conmpleting the Thesis Statement and Bibliography.  This is 30% of your grade.

  8. Finally, top original papers should be targeted for publishing in an undergraduate research journal. Here is an example of an excellent paper that earned a high "A".

Missed Examinations or Assignments: Upper-level Courses:
A student must complete the exams at the scheduled times on the scheduled dates or provide written documentation of an Authorized Absence or Excused Absence (Per the Clemson Clog p.39). An Authorized Absence is due to participation in a sponsored activity that has been approved in advance by the program director and the appropriate student affairs officer. An Excused Absence is due to other causes, such as illness, family emergency, death in the family, or religious holiday. A student seeking an Excused Absence must obtain documentation such as a physician's statement, accident report, or obituary.

If you miss an examination due to an Anticipated Absence (as defined in Undergraduate Announcements "no later than one week before the date of any assignment or exam") the points for the missed examination will be calculated as the average of your other examination scores. In the case of an Unanticipated Absence (as defined in Undergraduate Announcements on page 28) I will follow the protocols of the university. In the case of an Unanticipated Absence I must have a email or phone call before or during the assessment event: Simply not showing up earns a grade of "0" on on any examination or assignment. My email is hobbs4@clemson.edu and my phone number is (864) 656-1115 where voice messaging is available at all times. Where I have been notified as explained above, the points for the missed examination will be calculated as the average of your other examination scores.

A missed Final Examination will: (1) lead to an assigned grade of "incomplete" so long as I am contacted prior to the examination as noted above and, (2) require you to take a makeup examination and complete the examination prior to the university's deadline for making up an incomplete. It is your responsibility to contact me and coordinate the process of the makeup examination and the grade change. All incomplete examinations not completed by the university's deadline automatically become an "F".

NOTE:  Quoting from the Provost's Office:  "Final Examinations: At their own discretion, instructors may excuse from the final examination, all students having the grade A on the coursework prior to the final examination. For all other students, examinations are required in all subjects at the end of each semester, except in courses in which final examinations are not deemed necessary as approved by the department faculty.

Final examinations must be given (or due) on the dates and at the times designated in the final examination schedule, except in laboratory and one-credit-hour courses where the final exam will be given at the last class meeting. All courses that do not specify a standard day of the week and meeting time are not assigned a final exam date and time, and the final exam must be given during the examination week at a date and time announced by the instructor. This time must be stipulated in the syllabus at the beginning of the term.

Circumventing the designated date/time for a final examination via consenting signatures from students for a different date/time, though freely agreed to, is a violation of the final examination policy."

If I need to further interpret this for youL You must take your final examination at the assigned time and final examinations are required by the university.


Assignments other than in-class examinations (e.g., take-home examinations, papers, and presentations) lose 10% or one letter grade per day. If a group presentation is required your failure to participate in the group presentation earns you an automatic "0" for the presentation portion of that assignment.

Late quizzes or homeworks (e.g., in-class quizzes or any homework assignment such as LaunchPad, Sapling or Aplia) earn a score of "0".

Examination Grade Challenge Policy:
When an exam is handed back we will go over it in class and you will hand it back in during class. Once the examination is handed back to you there is a one-week cooling-off period. Then you can make an appointment with me to come by during office hours and challenge my grading but be prepared. At two weeks after the examination is returned to you, grades on all examinations and assignments are finalized.

Electronics in the Classroom:
One must focus to do university-level work in this field of study. You may use a tablet or laptop unless I catch you using it for anything else but the class work. Then you will lose the privilege.  USING ANY OTHER ELECTRONIC DEVICE INCLUDING PHONES IS PROHIBITED DURING CLASS MEETINGS. Failure to comply with this rule has the following consequence: any infraction will lead to you being identified as the person responsible for the Pop Quiz that the entire class will take as a result of your action. These quizzes will be included in your homework grade.




"As members of the Clemson University community, we have inherited Thomas Green Clemson's vision of this institution as a high seminary of learning. Fundamental to this vision is a mutual commitment to truthfulness, honor, and responsibility, without which we cannot earn the trust and respect of others. Furthermore, we recognize that academic dishonesty detracts from the value of a Clemson degree. Therefore, we shall not tolerate lying, cheating, or stealing in any form."

Academic Honesty is your moral duty yet cheating is a rampant problem on college and university campuses today. As a social scientist, I think it says something quite interesting about our current culture -- or perhaps Glaucon, Adeimantus and Thrasymachus were right (see The Republic of Plato, Part II "Justice in the State and in the Individual", Chapter V, "The Problem Stated".)

My attitude concerning academic dishonesty is simple: Cheating is not worth the potential consequences of getting caught nor the self-degradation which it involves whether you are caught or not.

If you are caught in an act of academic dishonesty I am charged - by the university - to "make a formal written charge of academic dishonesty... and report this to the Associate Dean of Undergraduate Studies." If I were you, I'd plan for Dr. Hobbs to defend his career-long practice which has been to assign an "F" for the entire course.

These guidelines pertain to all work done in this class including take-home assignments and graded homework. (You do have explicit permission to engage in group homework under the conditions outlined above.)

So that plagiarism does not cause you to fail this course read the two following web sites:
A Statement on Plagiarism
Plagiarism: What It is and How to Recognize and Avoid It



Attendance Policy:

"The discipline of colleges and universities is in general contrived, not for the benefit of the students, but for the interest, or more properly speaking, for the ease of the masters. Its object is, in all cases, to maintain the authority of the master, and whether he neglects or performs his duty, to oblige the students in all cases to behave to him as if he performed with the greatest diligence and ability. It seems to presume perfect wisdom and virtue in the one order, and the greatest weakness and folly in the other. Where the masters, however, really perform their duty, there are no examples, I believe, that the greater part of the students ever neglect theirs. No discipline is ever requisite to force attendance upon lectures which are really worth attending…”

An Inquiry into the Nature and Causes of the Wealth of Nations, Book V, Chapter 1, Part f, Paragraph 15
Adam Smith

Here is Clemson University's attendance policy: "The academic resources of Clemson University are provided for the intellectual growth and development of students. Class attendance is critical to the educational process; therefore, students should attend scheduled courses regularly if they are to attain their academic goals." While I concur wholeheartedly, my attendance policy is laissez-faire. The translation from French is roughly "to allow to act". In other words, you are allowed to do whatever you want to do with regard to attendance: after all, only you can decide what your opportunity cost is. Whatever your proclivities for attendance are, you are responsible for all course materials.

My reason for this laissez-faire policy is two-fold.

First, I am "old school" in this sense. I truly believe that institutions of higher education ought to be focused on one, primary, strategic mission: Education. My focus is on those students who are attending this university to better themselves and learn economics. I have an obligation, and perhaps a duty, to protect them from a despoliation of our learning space. If you do not want to be here, know that I abhor coercion of any kind. I consider coercion to be the universal mark of the tyrant.

Second, I respect individual decisions and embrace the learning processes that emanate from both good decisions (e.g., taking college seriously as the glorious and rare opportunity it is) and bad decisions (e.g., extending adolescent debauchery with a 70% state subsidy.) Not that I have anything against debauchery. I just don't care to aid and abet yours (nor, I suspect, do federal and state taxpayers.)

Learning is a shared responsibility. Class lectures are, but, one way to learn. There are many things covered in class that are assessed in this course so you should definitely obtain a copy of class notes, handouts, cases, etc. from a fellow student should you decide to not attend a class session. Know that I won't be using valuable office hours to redeliver the lecture because you chose not to come to class.

Finally, I should note that for nearly all students there is a high and positive correlation between class attendance and grades. Given the nature of this class your chosen course attendance policy and engagement are graded explicitly. I encourage you to be responsible by fully participating in your education. I do take class role for administrative purposes because it is required by "Coach" and the federal government for students who are getting federal loans, grants, or subsidies. The only other use of an attendance log might be to explain to you why you are not doing so well in this course.


Assigned Readings:
There may be assigned readings in this course. In order to have an effective class discussion you must: (1) read the article prior to the class meeting, (2) be prepared to both ask and answer questions on the reading, and (3) bring your copy of the article and your notes on it the class meeting.

Group Work:
Research in the area of learning has substantiated the positive effects of group study. When carried out with serious effort the returns to group study can be great for all members of the group. I would strongly encourage you to form study groups and set a weekly meeting time to discuss this course. I would ask that you assist each other; treating the study group as a cooperative experience rather than a competitive one. I have no problem with groups working together on the homework assignments.

Unless explicit permission is given (such as homework assignments above), all work handed in must be done alone.  You are welcome to discuss and work together but when you "put pencil to paper" it must be your own work.  To do otherwise will be regarded as an act of academic dishonesty.

There are no extra credit assignments.

Graduation, scholarships, work, financial aid, personal plans, etc. have nothing to do with grades in this course. Grades are based on performance (see the University Catalog.)

When you e-mail me please:
1) Use hobbs4@clemson.edu
2) In the Subject Line of your e-mail include the course and CRN number (e.g., ECON 3500 - 12345). I get lots of e-mail and those from students are class specific so I need to know which class you are in.

Studying for university-level courses


I expect students to spend 2-3 hours of work outside of class for every hour you are in class. This means attending class plus spending 6-9 hours on course work including readings, assignment and studying. For a 15-hour load this means 30-45 hours a week on your courses. A 2007 study by the National Survey of Student Engagement found that full time students self reported (thus, probably an exaggerated report) spending about 13-14 hours per week (for a 15-hour load). As I told my college-enrolled kids, "This may sound like a lot but this is the easiest 30 hour a week job you'll ever have!" Their subsequent reports from the world of work have confirmed by prediction.

According to this study, I am swimming upstream. But, swim, I must. Economics is intellectually challenging and rigorous.

On the upside, Stinebrickner & Stinebrickner in 2007 find that studying an extra hour per week has the same effect on student achievement as a 5-point increase in your ACT scores.



Sources :
National Survey of Student Engagement. Experiences That Matter: Enhancing Student Learning and Success. Bloomington, IN: Center for Postsecondary Research, 2007.

Stinebrickner, T. & Stinebrickner, R. "The Causal Effect of Studying on Academic Performance." Working Paper W13341. Cambridge, MA: National Bureau of Economic Research, Aug. 2007.

(Thanks to Professor Linda Ray for these tidbits of truth.)

State-Mandated and University-Required Regulatory and Control Statements

 "Clemson University, like all higher education institutions, is governed by an extensive and complicated collection of laws, rules, and regulations—a collection often referred to as the “regulatory landscape.”  from Clemson University's Office of University Compliance. Housed in some prime real estate at One North Main Street, Suite 722, Greenville, SC 29601.

"The bureaucrat begins, perhaps, by doing only what he conceives to be his sworn duty, but unless there are very efficient four-wheel brakes upon him he soon adds a multitude of inventions of his own, all of them born of his professional virtuosity and designed to lather and caress his sense of power."
H.L. Mencken,
On Politics: A Carnival of Buncombe (Baltimore: The Johns Hopkins Press, 1996 [1956]), pp. 278-279.

Most of the materials below are copied verbatim, though I alphabetized it. Assume [sic].
If you want to know more about this phenomenon Google "rise in college administration"

 Academic Advising

Academic advising (Links to an external site.)Links to an external site. is an ongoing educational process that connects the student to the University. Academic advising supports the University's mission of preparing the student for learning beyond the confines of the academy. Academic advisors represent and interpret University policies and procedures to the student and help the student navigate the academic and organizational paths of the institution.

 Academic Grievances

The next person in the chain of command is our Department Chair: Dr. Scott Baier. Dr. Bair will provide information for further channels of complaint and grievance if he is unable to solve your issue. If you are not comfortable talking to your professor or the Department Chair students are advised to visit the Ombudsman Office. They state "This assistance is an alternate [sic] to formal administrative channels, supplementing them but not replacing them."

 Academic Success Center

The Academic Success Center provides free services, including tutoring, academic coaching, and academic skills workshops, for all Clemson students. Visit the Academic Success Center website (Links to an external site.)Links to an external site.for more information on their services and workshops.

 Cooper Library

Reference librarians are available in person and via text, phone, email, and chat to answer your research questions. Visit Ask a Librarian (Links to an external site.)Links to an external site.for more information or to get in touch with a librarian.


 All materials found in this course are strictly for the use of students enrolled in this course and for purposes associated with this course; they may not be retained or further disseminated. Clemson students, faculty, and staff are expected to comply fully with institutional copyright policy as well as all other copyright laws.


Clemson University is committed to providing a higher education environment that is free from sexual discrimination. Therefore, if you believe you or someone else that is part of the Clemson University community has been discriminated against based on sex, or if you have questions about Title IX, please contact the Title IX Coordinator, Alesia Smith, who also serves as the Executive Director of Equity Compliance, at 110 Holtzendorff Hall, 864-656-3181 (voice) or 864-656-0899 (TDD). The Title IX Coordinator is the person designated by Clemson University to oversee its Title IX compliance efforts. Please consult the University's Title IX policy (Links to an external site.)Links to an external site.for full details.

 Privacy Policy

 Include your course privacy policy here. Feel free to adopt/adapt the following statement:This course is designed with your privacy in mind. If, however, you feel that an assignment or technology tool undermines your right to privacy, please contact me immediately. We will work together to determine an alternative assignment that will help you achieve the course learning outcomes.


 The Registrar's office (Links to an external site.)Links to an external site.provides information about important deadlines, degree and program requirements, and other key information, including use of iROAR to add, drop, or withdraw from courses.

 Student Accessibility Services

Clemson University values the diversity of our student body as a strength and a critical component of our dynamic community. Students with disabilities or temporary injuries/conditions may require accommodations due to barriers in the structure of facilities, course design, technology used for curricular purposes, or other campus resources. Students who experience a barrier to full access to this class should let the professor know, and make an appointment to meet with a staff member in Student Accessibility Services as soon as possible. You can make an appointment by calling 864-656-6848, by emailing studentaccess@lists.clemson.edu, or by visiting Suite 239 in the Academic Success Center building. Appointments are strongly encouraged – drop-ins will be seen if at all possible, but there could be a significant wait due to scheduled appointments. Students who receive Academic Access Letters are strongly encouraged to request, obtain and present these to their professors as early in the semester as possible so that accommodations can be made in a timely manner. It is the student’s responsibility to follow this process each semester. You can access further information at the Student Accessibility Services Website and the Office of Access and Equity Website.

 Technical Support

 If you are having hardware or software problems, CCIT's Service Desk may be able to help you. Contact them at ITHELP@clemson.eduwith a detailed description of your problem.

 Title IX

 Clemson University Title IX (Sexual Harassment) statement must be included: Clemson University is committed to a policy of equal opportunity for all persons and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender, pregnancy, national origin, age, disability, veteran's status, genetic information or protected activity in employment, educational programs and activities, admissions and financial aid. This includes a prohibition against sexual harassment and sexual violence as mandated by Title IX of the Education Amendments of 1972. This policy is located at http://www.clemson.edu/campus-life/campus-services/access/title-ix/. Mr. Jerry Knighton is the Clemson University Title IX Coordinator. He also is the Director of Access and Equity. His office is located at 110 Holtzendorff Hall, 864.656.3184 (voice) or 864.656.0899 (TDD).

Writing Center

 Clemson University’s Writing Center offers free one-on-one tutoring for all Clemson students. Visit the Writing Center's website (Links to an external site.)Links to an external site.for more information about their services or to make an appointment.