Assignments
APA FORMAT
First Assignment
1) Please submit the 3-5 sources you plan to use to complete your project and identify:
• What is the main point of the reference (article)?
• Is the information reliable? Is the source biased or objective?
• How you plan to use this source in your final project?
An Annotated Bibliography is a summary of an article, which includes the properly formatted reference Your Annotated Bibliography should answer the above questions and use APA formatting for the resource.
Students responses
1)Nicole Eddy
Price control is a policy that has helped and hindered economic activity. Price control is when the government controls the prices of commodities in the market which can be either on low or high prices. When the government decides to have control over the highest price that a service or good should be sold in the market it is called price ceiling. Price floor is the opposite where the government decides to have control over the lowest price that a service or good should be sold in the market. Price control has helped economy activity by protecting consumers from exploitation, allowing them to purchase commodity at lower prices. Also, it helps b setting the price limit about a certain point so that the producers can increase their production proceeds. Price control eliminates transaction costs in production and also brings in transparency in pricing of commodities. Price control will eliminate the uncertainty caused by the fluctuation in the exchange rates. Unfortunately, price control can also hinder economic activity. It was eventually reduce the supply of commodities in the market. It will drive some suppliers out of the market because supplier's profits are reduced by the price restriction. If I were an economist who was tasked with evaluating price control, I would want to achieve the same goal but not hinder economic activity. I would suggest that the government choose a reference price in the economy rather than choosing a fixed number, or have them set the price below that of other customers. This will result in the price chosen by the government to rise because of price control. I honestly do not enjoy these evaluations as I thought I would. I don't think I would want these responsibilities in the future.
2) Tamara Clarke
Government policies are put into place in an attempt to correct market situations or to grow the economy in order to maximize value/returns. The policies/regulations help stabilize and grow the economy both on a domestic and global level.
For instance, per the Board of Governors of the Federal Reserve System (2015), monetary policy influences inflation and the demand for goods and services -- this in turn increases the demand for employees to produce those goods and services. In this situation, the Federal Reserve is helping the economy by influencing the overall financial condition of the country with the adjusting of fund rates for banks, which trickle down to borrowers.
An example of policy that is creating challenges and possibly hindering economic activity is the mass of environmental regulations that are being imposed on businesses in the US. With the enforcement of environmental regulations in response to the growing concern over climate change, business are experiencing rising production costs (Millimet, Roy, & Sengupta, n.d.). With the stringent restrictions, businesses are struggling to stay competitive and in some cases, production is moving outside of the US where regulations are softer.
If I were tasked with evaluating existing environmental regulations, in an effort to change their effect on economic activity, I would invest time and research on acquiring accurate information on climate change and its causes. This step would be essential before suggesting further regulations that can adversely affect our US manufacturing/production industry.
Interesting final question... I have to say that economic evaluation in a scholastic environment is a challenge, possibly not my favorite thing. It is much different than sharing a conversation with a friend or peer over a political/economic issue or interest. I would not consider economic (or even political) evaluations as a responsibility in a future career - I am thankful for those that have the cognitive ability to perform these functions and the desire to do so!
1) Heather Dolbow
Social responsibility is defined as acting with concern and sensitivity as well as being aware of impact of action (Entrepreneur, 2016). Corporate social responsibility is involving business practices that benefit society's (Caramela, 2016). The difference between the two is who is involved; is it an individual or group/company taking on the responsibility.
Companies are more invested in sustainability of social responsibility not only for people, but also for their own success (Caramela, 2016). Social responsibility taken on by the federal government, healthcare organization, or other professionals have to be transparent and honest to gain trust of others with initiatives being brought forth (Caramela, 2016). Many companies, like the United Healthcare is passionate about improving the quality and cost of medical care as well as expanding health services that will impact the community (UnitedHealth Group, 2016). Keeping people updated on the different activities, proposals, and initiatives being done or discussed is part of the transparency that helps encourages good behavior.
2) Jamie Coleman
The difference between corporate and social responsibility is reflected by a company and public. A corporate responsibilities initiative is to take responsibility for the company's effects on social wellbeing (Investopedia, 2016). Corporate responsibilities go beyond what may be required by regulators or environmental protection groups (Investopedia, 2016). Social responsibility is the ethical part of the corporations' entity that has an obligation to act for society. The federal government has very few duties, but each duty is extremely important. One of the duties of the federal government is to provide for the common defense (Stewart, 2014). The federal government, healthcare organizations, and professionals have the duty to ensure all American's have health care coverage (Morone & Ehlke, 2014). Organizations sustain behavior by taking the necessary steps that are critical for the organizations strategy.