This presentation summarizes key concepts from Adam Smith's work, including the division of labor, the invisible hand, and laissez-faire. It will cover Smith's analysis of the industrial revolution, how specialization increases productivity, and how free markets can benefit society through individuals pursuing self-interest. The presentation was created by three students for a fall 2017 microeconomics course on the founder of modern economics.

1. Welcome to the Presentation
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2. A presentation on The Founder of
Modern Economics “Smith”.
Name of the course: Microeconomics
Course code: ECO 1132
Semester: Fall 2017
Program: BBA
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Submitted By
Name ID Sce
Rahul Roy 2017010000146 09(I)
Mohin uddin 2017010000302 09(I)
Anika Suhana 2015210000174 09(I)

3. The Industrial Revolution
BREAKING DOWN 'Industrial Revolution'
Increased Employment and Innovation
Pitfalls of the Industrial Revolution
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4. The Division of Labor
Meaning of Division of Labor
Advantages of division of labor
Disadvantages of division of labor
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5. Invisible Hand
The unobservable market force that helps the demand
and supply of goods in a free market to reach
equilibrium automatically is the invisible hand.
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6. The principle of Laissez fair
History
Facts
Features
Expert Insight
Misconceptions
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7. Relevance for Today
Smith believed society can benefit through the
pursuit of enlightened self-interest. Smith
proposed a very democratic notion of the
purpose of the market. He believed that
capitalism will favor consumers rather than
producers.
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