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Economics (Micro):

 
"Economics is what economists do" (Jacob Viner)
  
"If all the economists were laid end to end, they'd never reach a conclusion." (George Bernard Shaw)
 

Here is the link to the Homework page. Check it regularly. You will also find changes and announcements!!! The Syllabus can be found here, and here you can take a look at the Unit Plans Unit Plans for the course. 

Look to the right for some extra credit assignment you can do anytime!!
 
Some useful links for economics students (by no means exhaustive):                                                    
 

http://netec.mcc.ac.uk/JokEc.html Jokes

http://yadayadayadaecon.com/ The Economics of Seinfeld
 

http://en.wikipedia.org/wiki/Microeconomics General Stuff

 
 
www.economist.com Weekly magazine.
 

Governmental Departments and Agencies:
 
www.bls.gov     Bureau of Labor Statistics
 
www.dol.gov    US Departmet of Labor
 
www.ustreas.gov    Department of the Treasury
 
www.commerce.gov    Department of Commerce
 
www.cbo.gov   Congressional Budget Office
 
www.federalreserve.gov  Federal Reserve Bank
 
 
Extra Credit Assignments:

Organize your essay to include an introductory paragraph reflecting the main idea of the assignment, a body broken into paragraphs supporting your response, and a conclusion.

1) Choose two careers/professions you are interested in. Then go to the US department of Labor, and Bureau of Labor Statistics to gather some important economic data on these professions. For example: What are the educational requirements? What are the earnings? How many people work in the profession? Are the professions growing? Why? Where are the jobs located? Does location matter for earnings? You must answer at a minimum the questions I ask in above paragraph.
 
You must write at least 450 words if you want to receive extra credit. 
Must be typed (Font: Times New Roman; Size 12; double-spaced)

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2) Choose one of the following Economists and describe their contribution to economic theory: Robert Thomas Malthus, Adam Smith, Karl Marx, David Ricardo, John Maynard Keynes.

You must write at least 600 words if you want to receive extra credit. Must be typed (Font: Times New Roman; Size 12; double-spaced)

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3) What is the 'Basic Economic Problem’?

 You must write at least 500 words if you want to receive extra credit. Must be typed (Font: Times New Roman; Size 12; double-spaced)

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4) Is it fair?

Two people live in the same town. One is making $10,000 a year, while the other is making $100,000. They both receive the exact same services from the town, and are taxed at a rate of 10%. At this rate the first person pays $1,000 in annual taxes, and the second person pays $10,000 in annual taxes. Do you think this is a fair policy? Why? Why not?

You must write at least 500 words if you want to receive extra credit.
Must be typed (Font: Times New Roman; Size 12; double-spaced)

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5) What are the basic concepts we use to explain the beneficial effect of trade? You must clearly state how the ideas lead to improved outcomes.

You must write at least 450 words if you want to receive extra credit. Must be typed (Font: Times New Roman; Size 12; double-spaced)

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6) Why does any deviation from the equilibrium outcome result in a lower total surplus generated for market participants? You must be very specific.

You must write at least 450 words if you want to receive extra credit. Must be typed (Font: Times New Roman; Size 12; double-spaced)

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7) Using economic welfare analysis. Analyse the effects on the domestic market if a country is an exporter of a good. Repeat the analysis if the country is an importer of the good. You must use a graphical presentation to clearify your analysis.

You must write at least 400 words if you want to receive extra credit. Must be typed (Font: Times New Roman; Size 12; double-spaced)