Assignment:
1. Read the following paper:
Sach, T. H., Desborough, J. D., Houghton, J., Holland, R. (2015). Applying micro-costing methods to estimate the costs of pharmacy interventions: an illustration using multi-professional clinical medication reviews in care homes for older people. Pharmacy Practice, 23(4), 237-247.
Write a 3-2-1 report in the usual fashion.
Question 1: In your own words, what are the 3 most important concepts, ideas or issues in the reading? Briefly explain why you chose them.
Question 2: What are 2 concepts, ideas or issues in the article that you had difficulty understanding, or that are missing but should have been included? In your own words, briefly explain what you did to correct the situation (e.g. looked up an unfamiliar word or a missing fact), and the result. Cite any sites or sources used in APA format.
Question 3: What is the main economic story of the reading? (Economics studies the allocation of scarce resources.)
2. Lately, a number of devastating earthquakes, fires and hurricanes have been in the news. While most agree that these are tragedies, some people believe that natural disasters create jobs. The argument goes as follows: natural disasters kill and injure humans and animals, and destroy and damage property. After the disaster, this creates jobs in the area as rescue workers, medical specialists, funeral homes and construction crews repair the damage. In that sense, natural disasters create jobs and are a benefit to the economy.
In your expert opinion as an economist, do natural disasters create jobs? Why or why not? Use the concept of the Shadow Wage in your answer.