Paper Assignment
Directions for Paper 1
Your paper must be four (4) pages in length (not including title page or bibliography), 12 point font, double spaced, Times New Roman font, spellchecked and carefully edited, with one-inch margins and page numbers.
You must include at least six (6) sources of which at least three (3)must be primary sources, the rest can be secondary sources. You should document your sources with inserted citations and a reference list (Works Cited) at the end of the paper. APA style is preferred. One way to format the references is to the use the tools at https://citationmachine.net/. Endnote is an add-in software package to Word that is good for managing citations and references.
Research your selected question/topic using the resources listed in your textbook, the resources I provide, and academic journal articles via the Hege Library gateway.
Refer to the Paper 1 Grading Rubric for additional information.
Topic:
Resources can be allocated among the participants of an economy by (1) free market capitalism or (2) central planning (socialism) or some combination of the two or some corrupted versions which includecrony capitalism, crony unionism, and crony socialism.
1) Describe the various economic systems in use in countries today. Describe the advantages and disadvantages of each system. What should be the goal of an economic system?
2) Prepare a table of countries including several with high economic freedom, several with average economic freedom, and several with low economic freedom. Avoid using countries who are big exporters of oil. Include in this table:
a. Economic Freedom score (Heritage Foundation - Index of Economic Freedom
b. Political Freedom score (Freedom House)
c. GDP per capita, or Income per capita (World Bank - World Development Indicators)
d. Human Development Index score (United Nations, Human Development Index)
e. Corruption Score (Transparency International)
f. Doing Business - (World Bank Group)
3) Describe any trends or inferences you might see in the data in the table.