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Assignment
This is my stock question at the beginning of each Economics' course: Aside from the fact that you need the credits for this course to achieve a degree--what other factors come to mind that help you realize that at least a fundamental knowledge of Macro and Microeconomics is necessary for a fuller, richer life?
Do you think in light of what has happened to our nation over the past 10 years (the Great Recession) that having a key awareness of Economic issues is that much more important vs. turning a blind eye as some of us may have in the past? Pick a topic to briefly discuss here in this week's forum, which will encourage others' input as well. Some topics to consider would be: the national unemployment rate (is it still possible to achieve the "American Dream"; global market concerns... what is your opinion regarding all the controversy surrounding the results of our 2016 election; your thoughts regarding the repeal of Obamacare (its success/failures), etc. Do you feel economic conditions will now improve?
Shout out on any one/specific issue of your concern and please elaborate briefly for us, especially if you or your family have been affected/impacted negatively as a result of economic conditions and if you feel these conditions will now improve.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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