EXAM 2 ? SMITH, MACPHERSON, MARX
PHL/MGT 248: Business Ethics
DUE Feb. 10 by midnight
Instruction: Respond to both questions below. Please note that this exam you will have to respond
to one short answer question (150-300 words, worth 10 points) and one long answer question (300600 words, worth 20 points). Your exam should be written in Times New Roman or comparable
font in 12 pt. Upload your response as a word.doc or PDF to the appropriate submission folder by
midnight February 27.
As you answer both of the questions below, you are to cite a reading in the sentence in which it is
referenced using the format (Author_Last_Name, Page_Number). An example would be (Smith,
16).
When you cite, you are telling the reader ?what I am saying I got from this page.? Well-supported
writing has three types of citations: (a) citations without quotes (as mentioned) that are all in your
own words, (b) citations that have 3-5 word quotes where the quoted writer just nailed your point,
and (c) citations with longer 5-10 word quotes. Due to space requirements, you should probably
utilize a good amount of the second kind and some of the first. You should avoid the third kind.
Your task is to reconstruct the arguments from the text, by presenting the steps of the argument in a
logical sequence and taking care to carefully explain all terms and concepts used.
Short answer (150-300 words / 10 points):
1. Why, according to Smith, does division of labor lead to higher productivity? (Smith, Wealth of
Nations, Bk 1, ch. 1)
Long answer (300-600 words / 20 points):
2. Reconstruct Marx?s argument that profit is made by selling a commodity at its value. (Marx,
?Value, Price, and Profit,? VII-X)
GRADING
A: Exceeds expectations. The student carefully reconstructs the different steps of the arguments in a
logical sequence. The student explains all the concepts and terms used, and exhibits a clear and
informed understanding of the text. Exams are properly documented, grammatically sound,
stylistically successful, well argued, and include appropriate citations.
B: Meets expectations. The student adequately reconstructs the argument of the text. The short
answers are well written and well presented, and are based on a serious attempt to engage the text.
Some, but not all terms and concepts are adequately explained.
C: Does not meet expectations. The student exhibits a level of competence, but their short answers
might suffer from one or more of the following problems: few terms and concepts are explained,
unclear argument or inadequate presentation, inaccurate or insufficient documentation, failure to
address grammatical or stylistic problems.
D: Far below expectations. The student does not always answer the question, or show evidence of
having understood the issues. Short answers are unfocused, unclear, poorly argued, structurally
unsound, and/or grammatically unsound, such that it is difficult to tell what the author has read or
understands.
F: Fails. Failure to respond to the prompt in a meaningful way. There is no or little engagement with
the primary text, the student exhibits little or no understanding of the arguments they attempt to
reconstruct, and the writing is confused.
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