Assignment
1. Writing Assignment: The assignment is to write a 1200-1500 word essay applying two economic concepts from the list below to an online news article. Convince us you have attended and read all applicable material. We strongly encourage you to meet with the TA's ahead of time to discuss your writing assignment and get feedback.
You must submit the writing assignment in Canvas, in MS Word format by the due date and time. Clearly identify which 2 concepts you are analyzing, and also include a link to the article you are responding to. Do not copy someone else's work. If we catch you copying, the penalty is an F for the course.
Economic Concepts (Choose two):
• Good Institutions Align Self-Interest with the Social Interest
• Trade-offs
• Thinking on the Margin
• The power of trade
• The importance of institutions
• Opportunity Cost
• Comparative Advantage
• Specialization
• Supply & Demand
• Complementary Goods
• Substitute Goods
• Surplus & Shortages
• Price ceiling/floor
• Free rider
• Economies of scale
• Types of unemployment (frictional, structural, cyclical)
• Protectionism vs. free trade
• Tariffs and quotas
• Rational ignorance
2. Video Assignment: For this assignment, you can work on your own, or in teams of up to 5. The goal of this project is to extend what you learn in Economics 1500 by producing a teaching video about economics. You will upload the video to YouTube using usuecon1500videos@gmail.com as the username and "incentives" as the password.
You must have your script and storyboard approved by the teaching assistants before March 16th. If it has not been approved by then, we assume you are choosing to do the writing assignment and taking the midterm. The due date for the final product is April 10th by midnight. Videos will be shown in class the week of April 11th and 13th.
This 3 minute video (it may be shorter but no longer than 3 minutes-not including title and credits screens) must effectively illustrate two economic concepts from the list below. It must have good economic value and good entertainment value. Make sure your economic arguments are correct and clear enough that your parents or roommates could learn the concepts.
Economic Concepts (Choose two):
• Good Institutions Align Self-Interest with the Social Interest
• Trade-offs
• Thinking on the Margin
• The power of trade
• The importance of institutions
• Opportunity Cost
• Comparative Advantage
• Specialization
• Supply & Demand
• Complementary Goods
• Substitute Goods
• Surplus & Shortages
• Price ceiling/floor
• Free rider
• Economies of scale
• Types of unemployment (frictional, structural, cyclical)
• Protectionism vs. free trade
• Tariffs and quotas
• Rational ignorance
Video Project Outline and Requirements:
Title Screen: The title screen should include your project title, the name and major of each group member, and Utah State University and the core economic concepts that will be featured.
Video: The up-to-three minute video should be rich in content and clearly illustrative of two economic concepts. It should have good economic value and good entertainment value.
Works Cited Screen: A screen that includes the sources you used in pulling this together.
Credits Screen: Each member of the group must appear on the screen at the end of the video and announce what he or she did on the project.