Category: Economics

This assignment is part of a larger project on the effects of American Institutions. The assignment’s goal is for students to summarize a peer-reviewed article on an institution from economic history and explain why they think the institution is significant to our society. I will be attaching the article you will need to summarize and explain why it is necessary to learn about. your only source for evidence and quotes should be from this article I am linking.

In the essay, you are to discuss the economic implications of legalising cannabis (marijuana).
In 2012, Colorado and Washington became the first two states to legalise the recreational use of cannabis in the United States. Retail sales of cannabis in Colorado commenced in January 2014.
1000 words is max word count but can over the word count by 10%, so 1100 words is absolute max.
Task:
Read two articles
Is Marijuana Legalization Economic Salvation or Hype?Links to an external site. November 25, 2018, Forbes. (https://www.forbes.com/sites/mikeadams/2018/11/25/is-marijuana-legalization-economic-salvation-or-hype/?sh=5edebd5710aa)
If reducing harm to society is the goal, a cost-benefit analysis shows cannabis prohibition has failedLinks to an external site., September 8, 2020, Stuff. (https://www.stuff.co.nz/national/politics/122696290/if-reducing-harm-to-society-is-the-goal-a-costbenefit-analysis-shows-cannabis-prohibition-has-failed)
Question : 
Given the public healthcare system in New Zealand, explain the private and social costs of recreational cannabis use in New Zealand. Explain with the help of a diagram whether the equilibrium quantity of recreational cannabis use in a perfectly competitive market is too low or too high compared to the social optimum.
Helpful tips:
Excellent discussion of the externalities that recreational cannabis use may exert upon the public health system in New Zealand, with reference to diagram. [6 marks] 
• Private costs of recreational cannabis use? 
• Social costs of recreational cannabis use? 
• How does this impact the public health system in New Zealand? 
• Draw a diagram, this will help you explain the equilibrium quantity vs social optimum.
Structure Note: This essay assignment does not require a standard structure of introduction, body and conclusion; however, please read the marking scheme below, as other aspects of formal essay writing, such as paragraphing and logical sequencing of arguments and referencing, are required as part of this assignment.
Diagrams should be AUTHENTIC (not copied). Diagrams may be hand-drawn but must be scanned and inserted into the document. If you photograph your diagram and insert it as a picture into your document, please ensure appropriate exposure so that the diagram is clear and readable.
Case :
Cannabis — or marijuana, or pot, or weed — comes from the Cannabis sativa plant and is one of the most widely available illicit drugs in New Zealand. Until 2020, Penalties associated with cannabis range from a $500 fine for possession to a 14-year jail term for its supply or manufacture.[1] Legalising cannabis has been a heavily debated topic in New Zealand for decades.[2]
The 2020 New Zealand cannabis referendum was a non-binding referendum held on 17 October 2020. The official results were released on 6 November 2020 with 50.7% of voters opposing legalisation and 48.4% in support (with 0.9% informal votes). Auckland Central MP Chlöe Swarbrick, a spokesperson of the Green Party, says “as a country, we’ve come so far in understanding the need to reduce the harm of drugs by bringing them out of the shadows.” SayNoToDope campaign spokesperson Aaron Ironside says that the mental health system is strained, and legalising the drug would have added to social harm. “The use of cannabis is associated with increased risks of a number of adverse outcomes including educational delay, welfare dependence, increased risks of psychotic symptoms, major depression, increased risks of motor vehicle accidents, increased risks of other illicit drug use, and respiratory impairment,” Ironside said.[3]
Prime Minister Jacinda Ardern has said some of the issues legalisation sought to address – including referring cannabis users to health services rather than the justice system – will be looked at regardless of the referendum result.[3]
Reference: 
[1]  Cannabis and the lawLinks to an external site., retrieved on 12 November 2020, New Zealand Police (https://www.police.govt.nz/advice-services/drugs-and-alcohol/cannabis-and-law)
[2]  The cannabis debate: What are the costs and benefits of legalising it?Links to an external site. Oct 20, 2017, stuff. (https://www.stuff.co.nz/national/health/98097026/the-cannabis-debate-what-are-the-costs-and-benefits-of-legalising-it)
[3]  Election 2020 final results: Special votes close gap; Cannabis referendum still failsLinks to an external site., NZ Herald, Nov 6, 2020. (https://www.nzherald.co.nz/nz/election-2020-final-results-special-votes-close-gap-cannabis-referendum-still-fails/V2XRBTM6SDERELRA6DGLXR2O4I/)
Marking rubric :
• Explanation and Analysis: Provides an excellent explanation of the topic with clear and insightful analysis.
• Use of Economics Concepts and Theories: Demonstrates a thorough understanding and application of relevant economics concepts and theories to answer the question, showing a deep grasp of the subject matter. • Supporting Evidence: Uses strong and credible sources to support the arguments, with clear and appropriate citations, effectively integrating evidence into the analysis. 
• Relevance to the Question: All content is highly relevant to the question and directly addresses it, consistently maintaining focus throughout the essay.

Suppose that a Swiss watchmaker imports watch components from Sweden and exports watches to the United States. Also suppose the dollar depreciates, and the Swedish krona appreciates, relative to the Swiss franc. Speculate as to how each would hurt the Swiss watchmaker. LO20.3
Explain how each of the following can be obstacles to the growth of income per capita in the DVCs: lack of natural resources, large populations, low labor productivity, poor infrastructure, and capital flight. LO21.2
What factors cause failed states? List and discuss five policies that DVC governments might undertake to promote economic development and expansion of income per capita in their countries. LO21.4
To Do:
Share the information with other classmates by posting in the Reply text box provided below. DO NOT exceed 500 words in your post

I was required to write a 25 page Economics related research paper for my senior capstone requirement. However, upon submitting the paper, it was not accepted due to this reason: “There are two main issues. First, this is an economic analysis paper, rather than a literature review. I see that you cite many papers to support your argument, but a key element in this exercise is using data and economic tools to do your own analysis. Given that, you need to find data, and make at least two figures and two tables, to make your argument.” I am looking for someone who is able to add this to my paper. I have attached the paper to this order request. 

Hello. I have attached my economics assignment. It is a very simple and minimal assignment that requires typing on the document itself. I will also send you the PowerPoints that may include some info you need for the assignment. Make sure to not make it complex as this is a basic class.

How to Calculate Total Cost Marginal Cost, Average Variable Cost and, ATC. 
For the Costs and Revenue in Perfect Competition Assignment, you will submit an MS Excel spreadsheet.
Make sure to use the “formula” feature. (The numbers in the table change. So, if you don’t use the “formula”, your answers will be incorrect because of the changing numbers.)
Calculate marginal cost (MC), marginal revenue (MR), average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC).
Graph all the cost curves and the MR curve.
Find the profit-maximizing price and output.
Calculate the profit (or loss).
A firm
operating in perfect competition has no influence over market price. It can
sell any amount at the market-clearing price. The only one major decision to
make then is about what quantity should be produced. When it decides the
quantity to produce, then this quantity—along with the prices prevailing in the
market for output and inputs—will determine the firm’s total revenue, total
costs, and ultimately, level of profits.

Bitcoin, often hailed as the pioneer of cryptocurrencies, has captivated the financial world since its inception in 2009. Created by the pseudonymous Satoshi Nakamoto, Bitcoin introduced a groundbreaking decentralized digital currency system built on blockchain technology. Over the years, it has sparked intense debates, garnered fervent supporters, and attracted significant attention from investors, technologists, and governments worldwide. This essay delves into the intricacies of Bitcoin, exploring its origins, underlying technology, implications, and future prospects.
Origins and Principles:
At the core of Bitcoin lies a set of revolutionary principles challenging traditional financial paradigms. Unlike fiat currencies controlled by central authorities like governments or banks, Bitcoin operates on a decentralized network of computers, collectively known as the blockchain. Transactions on the Bitcoin network are verified by network participants, known as miners, through cryptographic algorithms, ensuring transparency and security without the need for intermediaries.
The issuance of new bitcoins occurs through a process called mining, where miners compete to solve complex mathematical puzzles, thereby validating transactions and adding them to the blockchain. This process is designed to be resource-intensive, limiting the supply of bitcoins and ensuring scarcity—a key characteristic often likened to precious metals like gold.
Furthermore, Bitcoin transactions are pseudonymous, offering a degree of privacy while maintaining transparency through the public ledger. However, it’s essential to note that while transactions are traceable, the identities of the parties involved remain encrypted, providing a level of anonymity.
Technological Foundations:
Bitcoin’s underlying technology, blockchain, is a distributed ledger that records all transactions across a network of computers in a tamper-resistant manner. Each block in the blockchain contains a set of transactions cryptographically linked to the previous block, forming an immutable chain. This decentralized architecture eliminates single points of failure and makes the Bitcoin network resilient to censorship and manipulation.
Moreover, Bitcoin’s open-source nature allows for continuous innovation and development within the ecosystem. Developers worldwide contribute to the improvement of the protocol, proposing and implementing changes through a consensus-driven process. This adaptability has led to the emergence of various applications and enhancements, expanding Bitcoin’s utility beyond a mere digital currency.
Implications and Challenges:
The rise of Bitcoin has profound implications across various domains, ranging from finance and economics to politics and technology. As a borderless and censorship-resistant form of money, Bitcoin enables individuals to transact securely and seamlessly across geographical boundaries, bypassing traditional financial intermediaries. This feature is particularly empowering for individuals in regions with unstable currencies or limited access to banking services.
Furthermore, Bitcoin serves as a hedge against inflation and currency devaluation, attracting investors seeking to preserve wealth in the face of economic uncertainty. Its finite supply and deflationary nature make it inherently resistant to the monetary policies of central banks, offering a store of value akin to digital gold.
However, Bitcoin also faces several challenges and criticisms. Its perceived volatility and price fluctuations have led some to question its suitability as a medium of exchange or unit of account. Moreover, concerns regarding energy consumption associated with Bitcoin mining have raised environmental sustainability issues, prompting discussions around the need for more energy-efficient consensus mechanisms.
Regulatory scrutiny poses another significant challenge to Bitcoin’s mainstream adoption. Governments worldwide have grappled with the regulatory framework surrounding cryptocurrencies, citing concerns related to money laundering, tax evasion, and financial stability. While some countries have embraced Bitcoin and enacted favorable regulations, others have adopted a more cautious approach, imposing restrictions or outright bans on its usage.
Future Prospects:
Despite these challenges, Bitcoin continues to garner momentum as a disruptive force reshaping the global financial landscape. Its growing acceptance among institutional investors, corporations, and payment processors signals a broader acknowledgment of its legitimacy and potential as a viable asset class.
Moreover, ongoing developments in scalability solutions, such as the Lightning Network, aim to address Bitcoin’s transaction throughput limitations, enhancing its usability for everyday transactions. Additionally, advancements in privacy-enhancing technologies seek to bolster the anonymity features of Bitcoin, catering to users’ preferences for financial privacy.
As the world moves towards an increasingly digital future, Bitcoin stands at the forefront of a paradigm shift towards decentralized finance and sovereignty over one’s financial assets. While challenges remain, the resilience and innovation within the Bitcoin ecosystem continue to fuel optimism about its long-term prospects as a transformative force in the digital age.
Conclusion:
In conclusion, Bitcoin represents more than just a digital currency—it embodies a radical departure from traditional financial systems, ushering in a new era of decentralization, transparency, and financial sovereignty. Its revolutionary principles, technological foundations, and implications have sparked widespread interest and debate, shaping the discourse around the future of money and finance. While challenges persist, Bitcoin’s resilience and adaptability position it as a frontrunner in the ongoing evolution of the global economy. As we navigate the complexities of the digital age, Bitcoin remains a beacon of innovation, promising empowerment and opportunity for individuals worldwide.