Assignment:
Discussion 1
The Ethics of Big Data
Prior to beginning work on this discussion, read Ellen Martin's article, The Ethics of Big Data.
Based on the article's content, respond to the following:
- Describe the microeconomic principles being used. What is the impact for demand?
- Evaluate the different market structures that big data benefits the least and the most from.
- While data collection may benefit the business community, discuss the concerns for consumers as big data proliferates.
Your initial post should be a minimum of 300 words.
Discussion 2
Barriers to Entry
Patents are granted for 20 years, but pharmaceutical companies cannot use their patent-guaranteed monopoly powers for anywhere near this long because it takes several years to acquire Food and Drug Adminstration (FDA) approval of drugs.
- What purposes do barriers to entry created by the government serve?
- What are other barriers to entry in the pharmaceutical industry?
- Should drug patents be extended to 20 years after FDA approval?
- Explain what would be the costs and benefits from this extension.
Your initial post should be a minimum of 300 words.