The paper is to be a properly formatted (APA) paper.
I expect a thorough paper will take at least 5 pages.
You should reference at least one professional journal article for this paper
It is to take the material discussed in the course and apply it to some issue or observation in your own life.
The basic flow should be:
- Explain the issue, problem or observation
- Why is this something that needs analyzed
- What is the question that needs answered
- Analyze the problem using the economic way of thinking â€“ possible approaches include
- Cost-benefit analysis
- Externalities and unintended consequences analysis
- Asymmetric and information problems
- Perverse incentives
- Bootleggers and Baptists
NOTE: You are not expected to use all of these analytical tools â€“ pick one that best helps you answer the question
- What does the analysis tell you?
- Use your own judgment and analysis to develop a solution or theory
Ideas can come from church, school, home, personal life and such. Try to avoid big national issues, that is not the focus of this class and we are looking to apply these ideas, theories and concepts in every day life.
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