• Production Possibilities Curve
• Supply and Demand
o Factors affecting supply
o Factors affecting demand
• Elasticity of Demand/Supply
• Price Ceilings/Floors
• Competitive Models
o Monopoly
o Oligopoly
o Perfect Competition
o Monopolistically Competitive
• Business Cycle
• International Trade
o Absolute Advantage
o Comparative Advantage
• Positive and Negative Externalities
• Labour Markets
Econ 101 Writing Assignment Guidelines
• Paper should contain an introduction – what is it that you are going to talk about and where is it that you are going to take us.
• Body – supports your introduction.
• Conclusion – A conclusion does not have to be, ‘this is the way it is’ or ‘this is the way it will be’. A Marketing Professor I had (a graduate of Duke University) said over and over, “It depends.” Economics is very much like that. All of the models and equations and graphs in the world and it still “depends.” If you think in if/then statements you’re probably on the right track to drawing a conclusion.
• There will not be right and wrong as far as topic choice goes.
• Well-written (grammatically and logically) papers will be well-received.
• Employ some concepts from class such as Production Possibilities Curves, Supply and Demand curves, Opportunity Costs, Law of Diminishing Returns, Price Elasticity, Profit Maximization, etc. Concept Dropping will not be rewarded .
• Effective use of graphs and charts are a requirement.
• You are welcome to use bullets or lists where appropriate – this is not prose.
• A few suggestions:
o There are good topics in the newspapers (paper and on line) every day. If I were you, I would start following something and clip articles or take notes as things unfold. I think if you invested 4 weeks in this exercise you could write your paper from your collections alone. As we progress in this class and you begin to think more like an Economist, sentences that seemed like ‘words only’ in the past, will become Economic principles for you. For example, when Exxon-Mobil says they are going to freeze the pump price of a gallon of gas, we can see opportunity cost, supply and demand, elasticity, price leader, price ceiling, goodwill, Oligopoly and numerous other economic concepts in that statement.
o Gas prices, home prices, food prices; all very real and close to home (excuse the pun).
o I have had papers on baseball bats, ballet shoes, day cares, mad cow, video games, and on and on. Every single thing has an economic angle.
• Choose something that will be interesting to you. Don’t try to choose what you think I’ll be interested in. I’ll be interested in well-written, well-stated arguments.
• This is a college paper. You should strive for analysis and application of the principles learned. Avoid writing a “book report.” And, this doesn’t have to be a ‘research’ paper.
• If you want me to review your paper prior to the hand-in deadline, I will be happy to do that. My goal is your success.
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