Course Objectives and Learning Outcomes

·Create and use economic graphs and numerical models to analyze and solve microeconomic problems.

·Analyze the impact of government activity in markets.

·Use a graph combining supply and demand to illustrate market equilibrium.

·Explain why governments intervene in markets with price floors and price ceilings and predict how those markets will be affected.

Assignment Requirements

This is a self-reflection paper developed based on the classroom discussion around minimum wage. Explain the effect minimum wage has on the economy. List and describe both the pros and cons of the more recent increases in the federal minimum wage. This two-page paper should reflect the points raised in the class discussion and any conclusions reached.