Writing Assignments
Please select two of the following options and answer each of the questions related to that choice.
Your responses needs to be thorough and effectively supported. You might be inspired to use our textbook and the on-line e-book for this class, which known as Widespread Economyths.
A superb, well-reasoned, detailed answer needs to be a minimum of 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 choice you select.
OPTION 1 – The Minimal Wage
Since 2009, the nationwide minimal wage has been $7.25 per hour for many occupations in the non-public sector. Many of those that Help a rise in the minimal wage imagine that is a technique the authorities may probably scale back poverty, whereas its opponents imagine that it creates unemployment and hurts low-skilled employees. The following gadgets handle the thought 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? Talk about the impact of elevating the minimal wage from a provide and demand standpoint, ensuring to handle 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 will even 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) Talk about any potential adjustments in the incentives for low-skilled employees – those that maintain their jobs and their hours – to enhance their human capital when the minimal wage will increase. What about those that lose their jobs or by no means get employed? Talk about the incentives for employers to substitute capital inputs (know-how and automation) for labor.
four) What is likely to be an unintended affect on authorities spending on entitlements equivalent to welfare, meals stamps, and unemployment compensation as a result of of the adjustments in the minimal wage and its affect on unemployment and underemployment?
5) Do advocates of a minimal wage legislation imagine that employees needs to be paid based mostly on their output (i.e., efficiency) or on their stage of want? What do opponents of the minimal wage legislation imagine employees’ wages needs 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 stage of want?
6) Advocates of a minimal wage usually imagine that employers would “exploit” or “take benefit” of their employees if there have been no minimal wage. How would you understand if employers are “taking benefit” of their employees if there have been no minimal wage? What easy factor may the worker do in the event that they believed they had been being exploited?
7) What proportion of American employees receives a commission above minimal wage? Typically, why do such employees receives a commission greater than the government-mandated minimal wage if employers are supposedly so grasping?
eight) Evaluate and distinction some of the data contained in the three movies:
Obama: “Increase 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 actual level could possibly 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 personal 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 imagine that the minimal wage needs to be raised, lowered, stay because it presently is, or be altogether eradicated? For those who assume there needs to be a minimal wage, how would you arrive at the particular wage? You want to give a radical purpose in your answer.
10) Who ought to get to resolve how a lot a employee will get paid, the employee and their employer or a politician? WHY?
OPTION 2 – Outsourcing
There was a lot discuss in latest time about outsourcing and “sweatshops.” Outsourcing is normally outlined as occurring when an organization chooses to export some of its manufacturing to international international locations. Jobs through which international employees work in “sub-standard” situations and are paid decrease wages (than their American counterparts) are usually referred to as “sweatshops.”
1) What are some of the financial explanation why some corporations select to relocate some of their productive amenities to international international locations?
2) With regards to low- and high-skill laborers, which home (American) employees could acquire from outsourcing, and which home employees would possibly lose? Why is that this the case?
three) With respect to the sorts of merchandise produced by corporations 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 accomplish that?
5) Please watch the following 2 movies relating to “sweatshops.”
Inside Take 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 general conclusions?
6) After watching the movies, please inform me if “sweatshops” are a very good or unhealthy factor for international employees? 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 elements of this invoice included tax cuts and elevated authorities spending, with an emphasis on infrastructure spending equivalent to roads and bridges. Included in the invoice was a “Purchase American” provision which required all manufactured items (just a few exceptions did apply) bought with ARRA funds to be made in the United States. The intention of this provision was to enhance jobs in the United States by stopping international corporations from reaping the rewards of the new spending tasks.
1) Are makes an attempt to shield U.S. corporations from international competitors, equivalent to the Purchase American provision, good concepts? Clarify.
2) Clarify why some American corporations is likely to be opposed to this provision.
three) Clarify whether or not or not you imagine the Purchase American provision would create jobs in the United States.
four) What do you assume will probably be the financial penalties of a Purchase American provision?
5) Do you imagine the authorities ought to get entangled on this facet of non-public enterprise, even when the obtainable 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 general 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 handle?
OPTION four – “Employee-owned” Companies
Some politicians have just lately proposed concepts that would encourage or require extra companies to function as “co-ops” or “worker-owned” companies. In such companies, the employees 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 imagine that extra companies needs to be run in such a fashion, as cooperatives through which the proprietor and workers make roughly the similar quantity of cash?
2) What are the potential drawbacks to the homeowners of such an thought? What about drawbacks to the employees?
three) For those who like the thought 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 cross legal guidelines that would require extra companies to turn out to be 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 general conclusions?
Which of these two movies makes the best financial conclusions? WHY? Be particular.
OPTION 5 – Race- and Intercourse-Primarily based Preferences
Some individuals argue that faculties and employers ought to give preferences to ladies and racial/ethnic minorities due to discrimination in the previous (and possibly even now, as effectively). Others disagree and imagine that such preferences unfairly damage not solely males and white individuals instantly, but additionally not directly damage ladies and minorities.
1) Lately, California grew to become the first state to cross a legislation 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 legislation is altering boardrooms throughout the nation
Anastasia Explains: Race and Gender Quotas
Does this legislation Help or damage females? Clarify intimately
Does this legislation Help or damage males? Clarify intimately
2) Please watch the following two movies:
Pink tax: Why do ladies pay extra for items and providers?
The Every 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 relating to the ideas of “variety, fairness, and inclusion” (DEI) and “meritocracy.”
Why Range Is Extra Necessary Than Meritocracy: Quotas, Expertise, Wall Avenue | Sallie Krawcheck
Campus Reform: College students Help Range Quotas…Till It Comes to Soccer
Which idea relies on an individual’s identification/immutable traits equivalent to gender and race? Which idea relies on an individual’s efficiency, expertise, or abilities?
four) Who advantages and who’s harmed when governments or non-public companies make hiring choices based mostly on “DEI”?
5) Who advantages and who’s harmed when governments or non-public companies make hiring choices 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
