ECONOMICS: EACH ANSWER NEEDS 2-4 THOROUGH PARAGRAPHS (unless otherwise noted)
BOOK: Microeconomics with access to My EconLab, 8th edition (P&R), by R. Pindyck and D. Rubinfeld (electronic, loose-leaf, or hardcover versions of the text are available).
Watch the video below and then summarize the timeline of events leading to the Financial Crisis. What is your opinion on the cause of the collapse and the response of the government?
Paragraph 1 (175 words): Summary of video
Paragraph 2 (175 words): Opinion
Summarize Krugman's view of debt and deficit. Search the internet for a contrary view and provide a link. Which is more compelling to you and why?
Paragraph 1 (175 words): Summary of Krugman's view of debt and deficit
Paragraph 2 (175 words): Opinion of which is more compelling
Briefly (3-4 sentences) summarize this article from The Economist. Identify any 5 concepts that appear in the article (diminishing marginal returns, production functions, average product of labor, isoquant, etc).
Give their definitions and context in the article. What do you think of the article?
(3-4 sentences) + (500 about article and concepts)
An Identification addresses: who, what, when, where, and why? Who were they? What did they think? When were they operating? Where do they fit in? Why are they important?
Identify the Classicals and Keynes. Compare and contrast their views.
Pick your favorite classical and identify him or her.
This slideshow is a nice (but not complete) resource.
Find a news article concerning inflation that is related to 4 Chapter 9 Concepts (models of supply and demand, competitive markets, elasticity of supply and demand, subsidy) Provide a link to the article, definitions of the concepts, and explain how the article is related to each concept.
11. ONE PAGE!!![750 words]
Gary Becker won the Nobel Prize in 1992 for his development of the theory of human capital. Watch one of his lectures from his University of Chicago class, Human Capital. Write a summary of the lecture.
17. ONE PAGE!!![750 words]
Compare and contrast the 4 economic models: John Hicks' IS-LM (long-run equilibrium), Phillips & Keynes' AD-AS (medium-run equilibrium), New Classical Macro, and New Keynesian Macro. What are the inherent assumptions and how valid are they? Which models are true or false? Which is most appealing to you?