In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics–the study of how the allocation of resources affects economic well-being–and will discover that under most circumstances, the equilibrium price and quantity is also the one that maximizes welfare. Students will review different sources of externalities and a variety of potential cures and will see that while markets are usually a good way to organize economic activity, governments can sometimes improve market outcomes. Students will see how the U.S. government raises and spends money and the difficulty of making a tax system both efficient and equitable.
Assignment Steps
Scenario: You have been assigned to a team that has the responsibility of preparing a paper for the governor’s next economic conference.
Prepare a 1,050-word paper addressing the following:
Cite a minimum of three peer-reviewed sources, not including your textbook.
Format consistent with APA guidelines.
Select your paper details and see how much our professional writing services will cost.
Our custom human-written papers from top essay writers are always free from plagiarism.
Your data and payment info stay secured every time you get our help from an essay writer.
Your money is safe with us. If your plans change, you can get it sent back to your card.
We offer more than just hand-crafted papers customized for you. Here are more of our greatest perks.
Get instant answers to the questions that students ask most often.
See full FAQ