Select a news article dated within the previous two months, and analyzes the issue using the economic concepts and theory learned in this class. Develop a 3 page double-spaced paper that advocates a position on this issue. Title page, appendices and bibliography are not to be counted in the page total for the narrative portion of the paper. Your paper should begin with a concise summary paragraph that (1) states the problem and (2) summarizes your position. The remainder of the paper should support and explain your position. The paper should include at least one graph developed in our course and define all economic concepts used to build your argument. Possible graphs/concepts/theories to use in your paper include:
- Taxes, consumer or producer surplus, and welfare
- Demand, supply, and equilibrium price of a particular product or products
- Total benefit and cost curves
- Production function and isocost curves
- Long-run and short-run costs
- Indifference curves, indifference curves and budget line
- Price elasticities of supply and demand, or income elasticity, on a particular product or products
- Perfect competition and imperfect competition, such as monopolies
- Another topic selected by the professor