Category: Economics

Please follow all directions and be sure to do the discussions correctly! Thank you so much! Please submit each discussion with a separate file!
M13: No readings, just use M13 lecture
M14: Chapter 18, “The Markets for the Factors of Production” 18-3b
M15: Chapter 3, “Interdependence and the Gains from Trade” 3-3b, Chapter 9, “Application: International Trade” Full chapter
Here is the link to the book:
https://zalamsyah.staff.unja.ac.id/wp-content/uploads/sites/286/2020/10/Principles-of-Microeconomics-8th-Ed.-GREGORY-MANKIW-1.pdf

Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.
Please write a essay reflecting on the movie Capitalism:  A Love Story.   Choose a country and write a comparative analysis contrasting the United States and your chosen country.  America has long touted it’s stance in the world as a capitalist society, even though it generates enormous wealth disparities and social inequalities.
The following are a list of questions you should answer in your essay:
Of your chosen country, are they communist, socialist, or capitalistic society?  Why does it work for your chosen country?  Or does it? (You can start by defining these terms)
How do we measure up to other industrialized countries? Or not? 
What are the economic factors that sustains your country?
Explain the philosophical ideas of capitalism.  
What is the role of government in a capitalist society? 
What does capitalism have to do with freedom? 
Is capitalism a just social system?
What is the effect of capitalism, socialism, and/or communism on our environment?
What is your country’s economic crutch?
Any geopolitical conflicts hindering your country?
Your written essay must be typed and a minimum of 750 – 1000 words double spaced, one-inch margins, in 12-point font; separate title page and references must be properly cited (APA Style); well written, clearly addressing the issues and validate your arguments and conclusions. For help with your citations, go to www.owl.purdue.edu.
Pictures/maps will enhance your assignments and contribute to your grade but are not included in the page count. All written assignments are due on or before the dates stated in the Course Outline. Assignments submitted after the due date will NOT be accepted unless you have spoken to me prior to due date.
Assignments must be turned in to the assignment tab in Brightspace. I will not accept emailed assignments. Please note, Al and ChatGPT is in existence and is NOT an acceptable substitution for written assignments. Your TURNITIN score should not exceed 15% for copywritten works and 0% for Al.

For this question, please answer the following:
What is the economic definition of GDP? for france
In your own words, what are some of the shortcomings of GDP? In your answer, please provide an explanation to some of the shortcomings you mention, and not just a list of these potential shortcomings. In other words, explain why these are shortcomings of GDP. If there are no shortcomings of GDP, please defend and explain your answer.
2-The planet of Tatooine is a dry desert. Times have been rough since the Rebellion began fighting against the Empire. The current planet demographics are as follows: 105,000 species are under the age of 16, 3,500,000 species are above the age of 16, there are currently 30,000 full-time students on the planet, and 75,000 incarcerated species. The galactic battles have ruined supply chains and resulted in many species losing their jobs. Currently 395,000 species are unemployed. Assume all of America’s definitions are used on Tatooine.
What is the full economic definition of unemployment? provide an incorrect answer
What is the size of Tatooine’s labor force? Show your reasoning (you may show your math or explain the process by which you determined the amount of the labor force. Answers which are just a number may not receive full credit. If you are unable to determine the amount of the labor force, please explain why). cal

Elasticity is the relationship between price and available quantity in an economic market.
Choose any three products. Then classify and describe their price elasticity of demand (relatively inelastic, relatively elastic, perfectly elastic, perfectly inelastic, unitary elastic). Be sure to include three different types of elasticity.
Discuss what happens to demand for each product when there is a price change. With customers in mind, which elasticity applies to your selected business? Explain why did you select this option.

Opportunity costs is a key concept in economics. Identify and describe two opportunity costs you might incur when making decisions for the business you selected in the discussion board. Keep in mind that these costs may be monetary or non-monetary.
Part 2:
Scarcity occurs because we have unlimited wants and limited resources. How do you see scarcity impacting your selected business?
Submit
Submit a Word document containing your assignment and the following requirements:
At least 3 well-developed paragraphs
APA Requirements
1” inch margins
Times New Roman 12 pt font
Double-Spaced
Title Page
Reference Page

1. What does he mean by “smart failure” and do you agree with him about how important it is? Why or why not? ( at least two sentences)
2. What are the three important changes we should understand for better productivity? 9at least two sentences)
3. What else should we consider when we thinking about productivity? What is missing? (at least 4 sentences)
source: https://www.ted.com/talks/eddie_obeng_smart_failure_for_a_fast_changing_world

Discuss the advantages and disadvantages of both free-market and command economic systems regarding the achievement of economic growth. You should use examples of countries in your answer. Use academically approved sources to research the ways that countries in transition, such as China and Russia, are managing any changes in their economies towards a different type of economy, and provide up-to-date economic data to support your findings.
You should also consider the reasons why countries such as China or Russia want to change their economic systems and how such a change is being managed.
Important issues for you to consider when building your argument:
• The definitions and characteristics of free market and command economies – compare and contrast • Economic growth as a major macroeconomic indicator of the performance of an economy
• Major factors influencing economic growth and their behaviour under different economic systems
• Interactions of major economic variables with economic growth under each economic system, such as unemployment, inflation, interest rates and balance of trade.
• Consider the reasons for any country (e.g. China and Russia) to want to change to a different economic system and what steps are being taken to achieve a successful transition.
Introduction: descriiption of issues/problems identified with the topic under discussion.
b. Discussion and Analysis: your analysis and answers to the questions raised in your discussion. These should be put into a coherent argument (you should try to break up this section using a few key subtitles where appropriate).
c. Conclusion: a short summary and your final evaluation that flows from your findings and analysis.
• References and Bibliography (apply the Harvard method of referencing).

INSTRUCTIONS FOR TERM PROJECT
Your term project is an integrative summary of seven short papers. 
Each paper that you read  must be at least three pages long.  For example, if you read a newspaper article that in only 2 pages long, it will not count as one of your papers. 
For each paper that you read, you must summarize the paper in approximately one page, but usually about 3/4 page. 
Each paper that you read must be preceded by a bibliographical citation.
After summarizing all the papers, you must write an Integrative Summary that ties all the papers together and demonstrate how they address a narrow topic. For example, How Pharmacies in England resisted resisted laws to limit the free distribution of addictive opium during the 19th Century.
These papers may be from the academic literature or current news on drug controls, the drug war, history of illicit or psychoactive drugs or drug policies from anywhere in the world. You may select articles from journal articles or working papers on Drug Policies, Economic Analysis, Economic Historical Analysis, Medical History, Scientific Analysis, International Diplomacy, and Social and Philosophical Analysis.
Finally, the documents you cite must include research papers, magazine articles, newspaper article or government policy documents published during the last 10 years. 
Your bibliography topic must be narrow and specific.  You cannot select papers that address the War on Drugs in general. An example of an acceptable topic could be “The Medellin Cartel: It’s Rise and Fall” or Comparing the Methods of Pablo Escobar and Other Drug Gangs or How the Dutch Profited from the Trade in Opium and Why and When they Ceased to Trade in Opium
The bibliographical selection may address topics from the examples listed below or other topics that you may select:
Comparative international policies
Historical analysis of policies in different countries
Socio-Economic analysis of drug policies
Social and Psychological Issues of Drug Use and Policies
The Politics and Economics the War on Drugs 
International Drug Cartels and their Activities / Violence and Corruption
European colonialism and the drug trade in history
Foreign Trade and the History of Drugs (Opium and Cocaine)

In this project the student chooses some economic variable that varies across locations in the US from www.nhgis.org, e.g., average income by county. They then use statistical software (R, Python, Stata, or others) to plot this variable on a map of the US. In addition, they write up to 400 words on a topic inspired by this map. For example, if you show average income you could write about income inequality across space and some of the reasons for income inequality across space that we have learnt about or policy attempts to alleviate it. Students must hand in a pdf with the map and write up and their code that constructs the map. 
Step-by-step Guide:
1. Go to www.nhgis.org and choose a year, variable, and spatial resolution you find
interesting.
2. Write down your motivation for the variable, year, and spatial resolution. See the
example proposal on Canvas for how to do that.
3. Download the data from nhgis.org, describe it, and compute summary statistics.
The final mapping project needs to have the following ingredients: 
1. About 200 words that explain which variable you choose and why. We are looking for evidence that you thought about what may be interesting to look at and can explain your reasoning well. A bad motivation: “I find wages interesting and so I decided to graph wages across counties.” A great motivation “I noticed that more rural areas in the US seem to have lower incomes. I read some articles about rural poverty that suggest one of the reasons is the lack of employers in those regions. So, I choose to look at the
number of establishments per capita in each county.”
2. A description of your variable and the data you use as well as some summary statistics of it (this part is basically what you submitted as mapping project proposal). 
3.. About 200 words describing what you see on the map and how it relates to your motivation. A bad description: “Wages differ widely across counties”. A great description: “There are less establishments per capita in the American heartland than on the urbanized coasts. […] . Overall, my findings confirm what I read in articles: lack of employment opportunities could be one of the reasons why rural regions tend to have lower wages.” 

Please check the assignment details in the JPGs. pages 1-5 describes the assignment. Total words number is 2000.