Econ Paper

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timer Asked: Dec 1st, 2017
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Question Description

  • Your introduction, summary and understanding of the initial article/video
  • A short discussion of your research and conclusions you were able to draw from it.
  • An explanation of what you learned and how you will use this new understanding.

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Week 9 Assignment: Using the Ten Principles to Analyze a Challenging Economic Issue Due Week 9 Worth 160 points Throughout the course, you have been provided with videos and articles in This Week in Business News. Pick one of these articles/videos which deals with an economic challenge that interests you. It should be an article/video from which you learned the most, from which you got an insight that changed your mind, or with which you disagree. Prepare a paper on this article/video in which you explain why you chose it. What made this issue important to you? Then identify which of the Ten Principles this article relies on. Does this article/video reject any or all of the Ten Principles? In your analysis of the article/video and the Ten Principles, be sure to rely on at least two high-quality professional or academic articles on the same issue. This paper must include: Your introduction, summary and understanding of the initial article/video A short discussion of your research and conclusions you were able to draw from it. An explanation of what you learned and how you will use this new understanding. Write a two to three (2-3) page paper in which you: Write an introduction for your paper explaining what the topic is, why the topic in the article/video is important to you, and why you think others should try to understand it. Write at least one paragraph summarizing the key points made in the article/video. Identify and explain how Mankiw’s 10 Principles are foundational to the issues discussed in the article/video. Find two other high-quality professional or academic quality articles on the same topic. Identify what these articles contribute to understanding the topic or issue and whether they agree, do not agree, or somewhat agree/disagree with the initial article. Write a conclusion that explains what you learned about the topic and what conclusion you draw from your research on the topic. Use at least two (2) quality resources in this assignment. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA formatting. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. ...
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Tutor Answer

TutorAR
School: UC Berkeley

Hi, Kindly provide a sample article you were provided with in class so that I incorporate it into this paper.

Running head: ECONOMIC PAPER

How Markets Work
Student’s Name
Professor’s Name
Course Title
Date

ECONOMIC PAPER

2
Introduction

The economy is much like a household; jobs are allocated to society or household
members and the produced goods and services are further distributed. Economics is “the study
of how society manages its scarce resources” (Mankiw, 2015, p. 3). Understanding the
management of said resources begins with understanding how decisions are made, how people
interact with one another, and how the economy works as a whole. These lessons have become
known as the Ten Principles of Economics.
The Ten Principles of Economics
The Ten Principles of Economics gives an overview of the fundamentals of economics.
The principles are divided into three categories: how people make decisions, how people
interact, and how the economy as whole works. These ideas assist decision-making within a
business.
Mankiw (2015) states, “the behavior of an economy reflects the behavior of the
individuals who make up the economy.” This idea and the first four principles must be kept in
mind to grasp how people make decisions.


People face trade-offs



The cost of something is what you give up to get it



Rational people think of the margin



People respond to incentives (Mankiw, 2015, p. 4-7)

To gain something wanted, one has to give up something that they also want. Understanding
the options available result in good decision-making in a trade-off situation. When facing tradeoffs, one must compare the cost and benefits of alternative options. The cost of an item is what

ECONOMIC PAPER

3

one is willing to give up getting it. Also, when determining the cost of an item, one must remain
aware of the opportunity costs assoc...

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Review

Anonymous
Good stuff. Would use again.

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