Writing Assignments
Please select two of the following options and answer each of the questions related to that possibility.
Your responses ought to be thorough and properly supported. You might be inspired to use our textbook and the on-line e-book for this class, which is named Widespread Economyths.
An excellent, well-reasoned, detailed answer ought to be no less than three to three.5 pages (complete) in size (and please do NOT rewrite the questions). You want to answer each of the questions for the possibility you select.
OPTION 1 – The Minimal Wage
Since 2009, the nationwide minimal wage has been $7.25 per hour for many occupations in the personal sector. Many of those that help a rise in the minimal wage consider that is a method the authorities may presumably scale back poverty, whereas its opponents consider that it creates unemployment and hurts low-skilled staff. The following objects tackle the concept of elevating the minimal wage from the present federal minimal of $7.25 per hour.
1) Describe who the suppliers and demanders are in the labor market. Is a government-mandated minimal wage a value ground or ceiling? Focus on the impact of elevating the minimal wage from a provide and demand standpoint, ensuring to tackle the idea of surplus or scarcity, and specify what that scarcity or surplus is mostly referred to as in financial phrases.
2) Elevating the minimal wage may also have an effect on the labor prices of companies. What goes to occur to the costs these companies cost for his or her merchandise? And who’s going to be most affected by these value adjustments, these with low incomes or these with excessive incomes?
three) Focus on any potential adjustments in the incentives for low-skilled staff – those that maintain their jobs and their hours – to improve their human capital when the minimal wage will increase. What about those that lose their jobs or by no means get employed? Focus on the incentives for employers to substitute capital inputs (expertise and automation) for labor.
four) What is likely to be an unintended influence on authorities spending on entitlements reminiscent of welfare, meals stamps, and unemployment compensation as a result of of the adjustments in the minimal wage and its influence on unemployment and underemployment?
5) Do advocates of a minimal wage regulation consider that staff ought to be paid based mostly on their output (i.e., efficiency) or on their degree of want? What do opponents of the minimal wage regulation consider staff’ wages ought to be based mostly on? Which one is sustainable and why?
For the sake of comparability, how ought to college students be graded in school, based mostly on their efficiency or degree of want?
6) Advocates of a minimal wage usually consider that employers would “exploit” or “take benefit” of their staff if there have been no minimal wage. How would if employers are “taking benefit” of their staff if there have been no minimal wage? What easy factor may the worker do in the event that they believed they have been being exploited?
7) What share of American staff receives a commission above minimal wage? Typically, why do such staff receives a commission greater than the government-mandated minimal wage if employers are supposedly so grasping?
eight) Evaluate and distinction some of the info contained in the three movies:
Obama: “Elevate Minimal Wage to $9 an Hour” – SOTU 2013
How the Minimal Wage Creates Unemployment – Be aware: this video makes use of an instance of a $5 minimal wage as an illustration solely. The identical precise level may very well be made with a minimal wage of $7.25, $9, $12.37, or some other quantity, so please don’t get hung up on the $5 quantity. The purpose is whether or not or not the authorities ought to dictate the wages of a non-public transaction between a prepared worker and employer.
We the Web TV: Pledge for $15
Describe the details of each video. Which one or two movies do you agree with extra from an financial perspective and why? Be particular!
9) Primarily based in your earlier responses, do you consider that the minimal wage ought to be raised, lowered, stay because it at the moment is, or be altogether eradicated? Should you assume there ought to be a minimal wage, how would you arrive at the particular wage? You want to give a radical cause on your answer.
10) Who ought to get to determine how a lot a employee will get paid, the employee and their employer or a politician? WHY?
OPTION 2 – Outsourcing
There was a lot speak in latest time about outsourcing and “sweatshops.” Outsourcing is often outlined as occurring when an organization chooses to export some of its manufacturing to overseas international locations. Jobs during which overseas staff work in “sub-standard” situations and are paid decrease wages (than their American counterparts) are sometimes referred to as “sweatshops.”
1) What are some of the financial the reason why some companies select to relocate some of their productive services to overseas international locations?
2) With regards to low- and high-skill laborers, which home (American) staff could achieve from outsourcing, and which home staff may lose? Why is that this the case?
three) With respect to the sorts of merchandise produced by firms that outsource, what impact could outsourcing have on home costs of these merchandise?
four) If the US authorities wished to scale back outsourcing, what adjustments in coverage may it make to achieve this?
5) Please watch the following 2 movies concerning “sweatshops.”
Inside Have a look at Apple’s Chinese language Sweatshops!
John Stossel – Sweatshops
Describe the details of EACH video. What proof do they current to attain their total conclusions?
6) After watching the movies, please inform me if “sweatshops” are a very good or dangerous factor for overseas staff? WHY? You want to totally clarify your answer.
OPTION three – “Purchase American” Provisions
The American Restoration and Reinvestment Act of 2009 (ARRA) was handed by President Obama and Congress in response to the recession of 2007-2009. The first parts of this invoice included tax cuts and elevated authorities spending, with an emphasis on infrastructure spending reminiscent of roads and bridges. Included in the invoice was a “Purchase American” provision which required all manufactured items (a couple of exceptions did apply) bought with ARRA funds to be made in the United States. The intention of this provision was to improve jobs in the United States by stopping overseas firms from reaping the rewards of the new spending initiatives.
1) Are makes an attempt to defend U.S. companies from overseas competitors, reminiscent of the Purchase American provision, good concepts? Clarify.
2) Clarify why some American firms is likely to be opposed to this provision.
three) Clarify whether or not or not you consider the Purchase American provision would create jobs in the United States.
four) What do you assume will likely be the financial penalties of a Purchase American provision?
5) Do you consider the authorities ought to get entangled on this side of personal enterprise, even when the out there funds are coming from the authorities? In that case, why? If not, why not?
6) Watch the following 2 movies:
Why Shopping for American Made Issues
John Stossel – Purchase American
Describe the details of EACH video. What proof do they current to attain their total conclusions?
Which of these movies make extra financial sense than the different? BE SPECIFIC! What factors does the higher video make that the different fails to adequately tackle?
OPTION four – “Employee-owned” Companies
Some politicians have not too long ago proposed concepts that would encourage or require extra companies to function as “co-ops” or “worker-owned” companies. In such companies, the staff and the bosses receives a commission the similar quantity of cash and have an equal say in the administration of the enterprise.
1) Do you consider that extra companies ought to be run in such a fashion, as cooperatives during which the proprietor and staff make roughly the similar quantity of cash?
2) What are the potential drawbacks to the house owners of such an concept? What about drawbacks to the staff?
three) Should you like the concept of “worker-owned” companies, ought to the authorities require companies to function in such a fashion? Why or why not?
four) Why do you assume some politicians might want to move legal guidelines that would require extra companies to turn into cooperatives?
5) Please watch the following two movies and answer the following questions.
Capitalism: A Love Story – Office Democracy and Cooperatives
Why Capitalism Works
Describe the details of EACH video. What proof do they current to attain their total conclusions?
Which of these two movies makes the top financial conclusions? WHY? Be particular.
OPTION 5 – Race- and Intercourse-Primarily based Preferences
Some folks argue that schools and employers ought to give preferences to ladies and racial/ethnic minorities due to discrimination in the previous (and perhaps even now, as properly). Others disagree and consider that such preferences unfairly harm not solely males and white folks instantly, but in addition not directly harm ladies and minorities.
1) Not too long ago, California grew to become the first state to move a regulation requiring a gender quota for company boards. California SB 826 requires boards to have a minimal quantity of females. Please watch the following two movies:
CNBC: How a California regulation is altering boardrooms throughout the nation
Anastasia Explains: Race and Gender Quotas
Does this regulation Help or harm females? Clarify intimately
Does this regulation Help or harm males? Clarify intimately
2) Please watch the following two movies:
Pink tax: Why do ladies pay extra for items and providers?
The Day by day Present’s Pink Tax Section: DEBUNKED
Which video makes extra financial sense? Using financial ideas, is the “pink tax” actual? Clarify intimately
three) Watch the following movies concerning the ideas of “range, fairness, and inclusion” (DEI) and “meritocracy.”
Why Range Is Extra Essential Than Meritocracy: Quotas, Expertise, Wall Road | Sallie Krawcheck
Campus Reform: College students Help Range Quotas…Till It Comes to Soccer
Which idea relies on an individual’s id/immutable traits reminiscent of gender and race? Which idea relies on an individual’s efficiency, expertise, or expertise?
four) Who advantages and who’s harmed when governments or personal companies make hiring selections based mostly on “DEI”?
5) Who advantages and who’s harmed when governments or personal companies make hiring selections based mostly on “meritocracy”?
6) Which idea, DEI or meritocracy, is most economically sustainable or possible?
7) Which idea is most conducive to capitalism and which is most conducive to socialism?
eight) Which of the above ideas would you want to be graded on in academia? In sports activities? In making use of for a job? WHY? Clarify intimately
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Writing Initiatives
Please select two of the following options and answer the questions that go along with them.
Your responses ought to be complete and well-supported. You might be strongly suggested to use our textbook and the on-line e-book for this class, which is titled Widespread Economics.
A good, well-reasoned, thorough response ought to be no less than three to three.5 pages lengthy (complete) (and please do NOT rewrite the questions). You need to answer all of the questions for the selection you select.
OPTION 1: MINIMUM WAGE
Since 2009, the nationwide minimal wage for many private-sector employment has been $7.25 per hour. Many supporters of a minimum-wage hike really feel that elevating the minimal wage is a method the authorities could presumably lower your expenses.
