How rational are economic agents? Answer with reference to neoclassical economics and its critics.

Task Instructions
Please ensure you have read and understood all information on this task sheet.
Assignment Details
You are required to submit a 1000-WORD ESSAY on ONE of the following questions.
You MUST combine economic theory and practical/real world examples in answering your
chosen question.
1. How rational are economic agents? Answer with reference to neoclassical
economics and its critics.
2. Under what circumstances should government intervene in markets? Answer with
reference to at least two distinct types of market failure.
3. To what extent is economic inequality an inevitable and defensible feature of a
modern market-based economy?