Analyze it using the economic way of thinking – possible approaches include

User Generated



ECON 230

Regent University


This paper should be approximately 5 pages and in APA format and include an abstract:

1. Explain the issue, problem or observation

2. Analyze it using the economic way of thinking – possible approaches include

a. Cost-benefit analysis

b. Externalities and unintended consequences analysis

c. Asymmetric and information problems

d. Perverse incentives

3. Conclusion:

a. This is where you allow for your own judgment and recommendations to come in

A Brief Example:

Policy: Minimum Wage and its suggested increase

Analysis: Some workers get pay increase

Some lose their jobs

Some are replaced with equipment

Some enter the market looking for work due to the new higher wage

Biblical parable about vineyard owner paying his workers what is agreed between them

Conclusion: Varies

  • Modern Principles of Economics, 3rd Edition (New York: Worth Publishers, 2016), Tyler Cowen and Alex Tabarrock.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Use this one.

Running head: ISSUE ANALYSIS

Issue Analysis
Institution Analysis
Instructor’s Name
Student’s Name
Course Code


Issue Analysis: Cost-Benefit analysis

Decision-making process for any investment requires the management to undertake
comprehensive research to determine the cost and benefit of the project. Regardless of the type
of the business, it is essential to establish a mechanism on how particular activities can be done.
A cost-benefit analysis is a process that companies can use to determine the value of a specific
project or systems to assess the viability of the investment to be undertaken based on the
resources available. The model is created by comparing the benefits and cost of a project. The
investor subtracts the value from the benefit to determine the expected return after the
investment. The final report of the analysis can be used to make or develop a reasonable
conclusion that can be used for investment purposes. The feasibility of a situation is established
from these conclusions generated by this model.
Various institutions use the analysis because it provides issue based results and agnostic
evidence- without biases or politically based opinions. Also, the approach offers an unclouded
view of the possible consequences of the cost to be incurred when the project is initiated, the
challenges and the disadvantages of the project to the business.
Successful companies have used this approach across the globe hence it has been tested
and approved by economist and financial analysts from different countries. In developing
business strategies, this model is an invaluable tool for the firm — some of the key areas that it
can be used to evaluate include when making new Hire decisions, machine purchase decisions
and resource allocation activities. The human resource department can rely on this model to
prepare the reward and compensation system w...

Super useful! Studypool never disappoints.


Related Tags