Category: Macro Economics

Q1: Define price ceiling and price floor and give an example of each. Which leads to a shortage? Which leads to a surplus? Why? [2.5 Marks]
Q2: Export or Import, what is the option available for a nation if it has a comparative advantage in the production of agricultural produce over the other country? Explain. Why do a group of economists favor the policies that restrict imports? (Minimum 500 words). [2.5 Marks]
Q3: Pick any two principles of economics from Chapter 1 and explain each with an example. [2.5 Marks]
Q4: Take an example of a two-goods economy and explain the concept of opportunity cost with the help of the Production possibility curve (PPC). Also, draw a PPC and explain why any combination outside the PPC is not possible. [2.5 Marks]

Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

Students must mention the question number clearly in their answers.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
References writing

Take an example of a two-goods economy and explain the concept of opportunity cost with the help of the Production possibility curve (PPC). Also, draw a PPC and explain why any combination outside the PPC is not possible.

The Assignment must be submitted on Blackboard (WORD format only) via the allocated folder.
The due date for Assignment 1 is 7/10/2023.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well-presented, marks may be reduced for poor presentation. This includes filling in your information on the cover page.
Students must mention the question number clearly in their answers.
Late submissions will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.

Select one of the four documents below or research on internet something similar, and elaborate an essay based on the theory of Chapter 9, Figures 2, 3 and 4:
The controversy over free trade. The gap between the economists and the general public The controversy over free trade. The gap between the economists and the general public – Alternative Formats .
Is free trade passé? Is free trade passé? – Alternative Formats Paul Krugman.
SMEs and international competition SMEs and international competition – Alternative Formats .
After 20 Years, NAFTA Draws Praise and Controversy After 20 Years, NAFTA Draws Praise and Controversy – Alternative Formats .
The Contentious U.S. China Trade Relationship The Contentious U.S. China Trade Relationship – Alternative Formats . Council on Foreign Relations.
Use the theory of the week to confront the different views with critical thinking; personal opinions are not welcomed. Explain the benefits of free trade. You must summarize the readings of the week; you must provide real life examples and explain them using the theory. Explain the controversies over free trade, who are the winners and losers, and why. You must summarize the readings of the week; you must provide real life examples and explain them using the theory. Explain the pros and cons of tariffs to restrict imports. You must summarize your conclusions.

Your assignment should be submitted as a Word document, so remember to use paragraphs and a report structure to your report.
Your research paper this week should be between 250 and 350 words. Shorter submissions will be penalized. Longer assignments are acceptable only if the extra words add substance to your report. At the bottom of your assignment, you should include a word count (how many words are in your post).
Structure your paper as a report.
You must cite all the information used in your report and include the sources in your reference listing.
Remember: you should not “copy and paste” information. Plagiarism Click for more options Plagiarism – Alternative Formats is penalized with a zero in the assignment the first time, and a zero in the course the second time. Use your own words and quote only facts or numbers)
Remember to include citations to your sources in the body of your assignment and to provide the references at the end of your post. Where possible, please make the links to any web information clickable links. Remember the references and links must be to the article you used, not just to the web site. Be sure to include the full URL, otherwise your link will not be clickable.
Rubric.
In your response you must demonstrate your knowledge of chapter 9, especially: 9-2. The Winners and Losers from Trade; 9-2a. The Gains and Losses of an Exporting Country; 9-2b. The Gains and Losses of an Importing Country; 9-2c. The Effects of a Tariff; Chapter 9, Figures 2, 3 and 4.
Your grade is based on the rubric below.

Did not meet standard
Somewhat met standard
Met standard
Excellent work
Theory, literature review
35
40
45
50
No reading material used or cited
Some reading material used and cited, showing some understanding
Adequate reading material used and cited, showing good understanding
Excellent use of reading material showing a depth of understanding and interpretation, meeting or exceeding expectations
Information, research
14
16
18
20
Poor quality of research and information used.
Acceptable level of research. Main information was incorporated. Some examples.
Good research. Most needed information is present. Good examples
Excellent research, excellent information. Excellent examples
Analysis, synthesis, critical thinking
10.5
12
13.5
15
Inadequate analysis, main issue(s) not understood, not much details. No synthesis, introduction, subtitles, conclusion.
Some analysis, main issue(s) understood but not analyzed adequately, some details. Some synthesis, introduction, subtitles, conclusion.
Adequate analysis, main issue(s) understood and analyzed well with adequate detail. Adequate synthesis, introduction, subtitles, conclusion.
Excellent analysis, shows real depth of understanding of main issue(s) and its implication, arguments well supported with details. Excellent synthesis, introduction, subtitles, conclusion.
Professional writing (APA)
10.5
12
13.5
15
Poor professionalism and APA standards.
Limited professionalism and APA standards.
Good professionalism and APA standards.
Excellent professionalism and APA standards.

What Interests You Most
For this assignment, you will be taking your education in macroeconomics into your own hands. You will be searching your textbook, Principles of MacroeconomicsLinks to an external site. by OpexStax, for topics you would like to learn more about in this course.
Objective
The goal of this assignment is for you to become familiar with your textbook as well as looking ahead to the concepts that we will be expanding on. There are no right or wrong topics to choose. I want you to choose topics that genuinely interest you.
Logistics
In your textbook, find 3 topics that interest you. Please reference the syllabus to ensure the 3 topics of your choice will be covered. Look up the definitions of the topics in the book and then do a quick search for those topics on the internet. What did you find? Are the definitions similar or different? In your internet search, what kinds of headlines came up? Were there any news articles associated with them that interested you? Why did these topics interest you? Feel free to expand on these questions.
Please write a paragraph (minimum of 4 sentences) per topic. You will have a minimum of 3 paragraphs total. Please format it like a paper you would turn in for an English class. MLA or APA format is fine (no need to worry about citations for this assignment). If you do reference a source other than your textbook, include the source in the sentence. I expect thoughtful and concise answers. I do not tolerate “texting” language. I will be using AI detection software to check the validity of these papers. There is a rubric attached to this assignment for further expectations of what I am looking for.
Rubric

Please be thorough and in-depth on answers to all questions (minimum of 200 words for each question).

1.2 Discussion Board
Discussion | Graded
Prompt
Discuss the opportunity cost you incur for some activity in your life. Additionally, what activity do you feel you have comparative advantage in?
Response Parameters
Explain. Your answers should communicate your full understanding of both opportunity costs and comparative advantage
Recall that any economic terms used should be fully defined to communicate your mastery of the concept
You should seek to put these definitions in your own words
Initial post due by Wednesday at 11:59 p.m. ET
Response posts due by Sunday at 11:59 p.m. ET
Response Posts
Compare yourself to another person. Do you think you might have the comparative advantage over the other person and the discussed activity?
Response posts are due by Sunday at 11:59 p.m. ET”Macroeconomics Introduction”
Sherry Jensen, PhD
This presentation will provide an introduction to your instructor and this course
https://awscdn.bisk.com/assets/video/2016/12/s3b4mauu-55ab7da0772dad45/JenS_080816_01.mp4″Opportunity Cost and Comparative Advantage”
Sherry Jensen, PhD
In this presentation, the ideas of opportunity cost, comparative advantage and absolute advantage will be developed
https://mediacdn.bisk.com/AssetService/preview/?mawID=0a8eda55-c18c-409f-b2f1-9c0645a8f5fc&d=0
“Production Possibilities”
By Sherry Jensen, PhD
The production possibilities frontier will be the main focus of this presentation
https://mediacdn.bisk.com/AssetService/preview/?mawID=af6cca96-cac6-47f1-9dc9-aae038787c0f&d=0 Reading
Principles of Macroeconomics 8th edition
By Frank, Bernanke, Antonovics, and HeffetzChapter 1,” Thinking Like an Economist”
Chapter 2, “Comparative Advantage”
Grading
Your posts will be graded according to the rubric