wmboal.com    Principles of Microeconomics

Quote

"Every individual ... neither intends to promote the public interest, nor knows how much he is promoting it ...He intends only his own gain, and he is in this ... led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for society that it was no part of it. By pursuing his own interest he frequently promotes that of society more effectually than when he really intends to promote it."

--Adam Smith, The Wealth of Nations (1776)

Old Exams

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Fall 2016

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Spring 2012