Writing

Principles Of Microeconomics

What is the main difference you see between Microeconomics and Macroeconomics. Give an example of differences.  (250 words minimum)  

Opportunity Cost

PROMPT: 

One of the major concerns related to the US economy at the moment is INFLATION. On this Discussion you will start exploring this topic.  As so many economists say “ uncontrolled inflation is too much money chasing the same goods and services” Here you will research the forces behind inflation. Make sure you leave political views not influence your assessments of the facts. This is not even a Political Science course. Lets analyze the facts as they are. 

• Under the Trump administration, the US Federal Government, approved a never seen before 2 trillion dollars Stimulus Package in response to the concerns about economic side effects COVID-19 instilled in our society. A significant part of the Stimulus Package was designated to individuals, including unemployment compensation sent to millions of people as well as PPP for business in different industries. As the Biden administration took office, in January 2021 a new Stimulus Package was signed and approved to inject another 1.9 trillion dollars into the economy. As part of the new stimulus plan, the deadline for several benefits associated to the 1st Stimulus Package were postponed and continued for longer periods of time as originally planned. The great majority of the stimulus was approved and released before the COVID 19 vaccination was in place. Under the Biden administration stimulus efforts took place at the beginning of COVID 19 vaccination and continues as of right now. Several Economists and Policy makers have argued that this injections of money created one of the forms of inflation Demand Pull inflation. However, in parallel withthe inflation created by the Stimulus there was another one happening at the same time: Cost Push Inflation
• Question 1) What is Cost Push Inflation? Explain in detail and Provide source ( 10 points) How has the disruption of supply chain during the Pandemic pressured up the level of inflation? Please find a real case of either a firm, corporation or institution that has been affected by the disruption of the supply chain in their industry and explain their experience and how the situation pressured the prices they charge for their own goods and or services to a higher level. Present the evidence, explain and provide the source. (20 points) You can use up to 2 sources
• Question 2) How has the labor shortage that started during the Pandemic in March 2020 and lasted all the way to the beginng of 2022 pressured up the level of inflation ? Please find a real case of either a firm, corporation  that has been affected by the disruption of the labor supply and explain their experience and how the situation pressured the prices they charge for goods and or services they offer ? Present the evidence, explain and provide the source. (20 points) You can use up to 2 sources
• Question 3) Since the last quarter of 2022 several major employers in the US started announcing rounds of lay offs. Among them, Amazon, Disney Company, Morgan Stanley among others. Goldman Sachs last week indicated last week that 3,200 jobs would be eliminated. What is the opportunity cost of the high inflation ? Explain in detail provide evidence. (20 points)
• Question 4) Bibliography (10 points)

potential useful resource: https://www.reuters.com/markets/us/tech-firms-wall-street-lead-job-cuts-corporate-america-2023-01-11/

Principles Of Microeconomics

Assignments must be submitted as a Microsoft Word document and must be in the MLA format.  Post question first before supplying your response. Students will answer each critical thinking questions with a minimum of 200 words.

Critical Thinking Questions:

1. Why would division of labor without trade not work?

2.  Can you think of any examples of free goods, that is, goods or services that are not scarce?

3.  A balanced federal budget and a balance of trade are secondary goals of macroeconomics, while growth in the standard of living (for example) is a primary goal. Why do you think that is so?

4.  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?

5.  Do economists have any particular expertise at making normative arguments? In other words, they have expertise at making positive statements (i.e., what will happen) about some economic policy, for example, but do they have special expertise to judge whether or not the policy should be undertaken?

The Impact Of Market Failure

When you think of forms of market failure, what comes to mind? Have you ever identified a market failure that has affected your job or industry? What about any products or services that you use or have used? Consider how these failures are addressed, if at all, by government entities or regulators. Does the intervention help to improve outcomes?

In this Discussion, you will identify and evaluate two or more forms of market failure that affect you, explain their causes, and explain the role of government intervention in addressing them.

To prepare for this Discussion:

• Review this week’s Learning Resources, with an emphasis on the various forms of market failure and typical remedies for correcting them.
• Identify two or three forms of market failure that affect you, such as a negative or positive externality, a public good provided by a local government, or asymmetric information about the safety of consumer products you purchase.
• Review the Academic Writing Expectations for 1000-Level Courses, provided in this week’s Learning Resources.

By Day 3

Post a 150- to 225-word (2- to 3-paragraph) description of two forms of market failure you identified. In your description, address the following:

• What are the causes of the market failure?
• Explain whether or not government regulation is involved with correcting the market failures, and share your views on the success of the intervention.
• To support your response, be sure to reference at least one properly cited scholarly source.

Refer to the Week 5 Discussion Rubric for specific grading elements and criteria. Your Instructor will use this grading rubric to assess your work.

Read some of your colleagues’ postings.

By Day 5

Respond with at least 75 words (1 paragraph) each to two or more of your colleagues’ postings by agreeing or disagreeing with their views on the appropriateness and success of government intervention or lack thereof with respect to one of the market failures identified. Support your position with examples and/or economic analysis.

Return to this Discussion in a few days to read the responses to your initial posting. Note what you have learned or any insights you have gained as a result of the comments your colleagues made.

Please answer each of the questions below in short-answer format. Write your responses in complete sentences. Each answer should be two – three paragraphs (150 – 250 words) in length.

What does a supply curve illustrate? Other than its own price, what are the determinants of the supply of a commodity. What would make a supply curve shift to the right?

Imagine that the market for orange juice is in equilibrium at a price of $8 per gallon. Provide two demand-related and two supply-related reasons why the equilibrium price could fall to $7.00 per gallon.

What will happen to the market for orange juice if both producers and consumers believe that prices will rise in the near future? Explain your answer.

What will happen to the market for oranges if the government offers price supports to citrus producers? Who will gain and who will lose? Provide examples and explain your answer.

Why is it unfair or meaningless to criticize a theory as “unrealistic?” Provide examples and explain your answer.