GDP is used as the reference with respect to economic growth. You should research ONE of the aspects related to the concept and explain why you feel this is important and how it relates to the topic we are studying this week. Remember that this is an analysis of current events (or a historical overview) but do not repeat the textbook material. You will post and then you will be able to read what others have posted. You should then comment or ask questions of what has been posted.

Limit your selves to 250 words per post and include a live link to the article you are using.

1- How fast has the US GDP grown in the past 4 years or so and look at what industries played an important part in that growth, or reasons why growth was slow.

2- Pick a country and analyze their growth, how has the government helped/hindered, how do they relate to the US economy

3- How important is international trade to the US GDP? How will the trade negotiations impact the US GDP?

Did economics teach me that?

At the beginning of the class I told you that economics would teach you how to think, not what to think. Here is a chance for you to demonstrate what you learned about economic analysis.

Click here to watch the video

Two of the main topics we studied in this economics class were opportunity cost and incentives. Choose one of the two topics below and respond to the questions.

1. The humorist, P.J. O’Rourke, said (tongue in cheek) that if we want to stop drivers from tailgating we should weld 6” steel spikes in the center of steering wheels pointing back at the driver.
   • Why does he think this would reduce tailgating?
   • Is his analysis based on opportunity cost or incentives? Explain.
2. Someone once said that economics tells us that disease should not be 100% eliminated from the earth.
   • Why would anyone think that disease should not be completely eliminated?
   • Is this analysis based on opportunity cost or incentives? Explain.

• This Assignment must be submitted on Blackboard (WORD format only) via the allocated folder.
• Email submission will not be accepted.
• You are advised to make your work clear and well-presented; marks may be reduced for poor presentation. This includes filling your information on the cover page.
• Assignment will be evaluated through BB Safe Assign tool.
• Late submission will result in ZERO marks being awarded.
• The work should be your own, copying from students or other resources will result in ZERO marks.
• Use Times New Roman font 12 for all your answers.

Assignment Questions

Q. 1. During the Second World War, Germany’s factories were decimated. It also suffered many human casualties, both soldiers and civilians. How did the war affect Germany’s production possibilities curve? [10 Marks]

Q. 2. What assumptions about the economy must be true for the invisible hand to work? To what extent are those assumptions valid in the real world? [10 Marks]

Q. 3. Are differences in geography behind the differences in absolute advantages? [10 Marks]

Microeconomics – Week #2 Assignment

Changes to Supply, Quantity Supplied, Demand, and Quantity Demanded

Using the table, for each line item and its associated column, describe how the market for each specific product will be affected by the associated event indicating whether it will rise, fall, or no change. For example, in the first line item for the market of corn, based upon the event of a severe drought, the price will either rise or fall or no change, demand curve will shift left (fall) or right (rise) or no change, supply curve will shift left (fall) or shift right (rise) or no change, quantity demanded will rise, fall, or no change, and quantity supplied will either rise, fall, or no change.

Hi,

Here are the instructions. This is a discussion so no need for a title page.

One of our main areas of focus in this session is special-interest groups. This is a topic that we could explore for weeks! It’s now time to have a discussion with your colleagues on this subject. Choose a special-interest group from a U.S. industry and examine their role in politics. Discuss how that interest group aligns with public choice theory.

Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion:

• State the article or event you selected.
• Identify the microeconomic concept(s).
• Describe your findings.
• Analyze the relevance to real-life applications.

Summarize your findings using at least 250 words and provide a minimum of one reference. Use current APA formatting to document your sources.