Week 6 – Final Project
Cases: Applying Economics to the Real
World
[WLO: 4] [CLOs: 1, 2, 3, 5]
Select
two
of the three cases presented below and prepare a three-page written analysis of
each case (six pages total). These
case studies provide a real-world application of the concepts you have studied
during this course.
For this assignment, you are required
to upload your work to your ePortfolio, in addition to Waypoint. Learn more
about Folio, the ePortfolio tool, by viewing the Folio Quick Start GuideLinks to an external site..
Macroeconomics: private and public choice. http://ci.nii.ac.jp/ncid/BA1935718X
Gwartney, J. D., Stroup, R. L., Sobel,
R. S., & Macpherson, D. A. (2023). Macroeconomics: Private & Public
Choice (17th ed.). Cengage Learning US. https://uaglobalcampus.vitalsource.com/books/9798214347967
Case 1: Government Spending and Taxation
·
Review Special Topic 1 of Macroeconomics: Private
and Public Choice.
·
Review Chapters 5 and 6 of Macroeconomics: Private
and Public Choice.
Using the Government Spending and Taxation case, Chapters 5
and 6, knowledge you have gained in this course, and at least three additional
credible sources, analyze the case by addressing the following:
·
Describe how government spending and the composition of the
government has changed in recent decades. In other words, in what areas has the
government cut spending and in what areas has the government increased spending
in recent decades?
·
Determine if this change in government spending and
composition will help Americans achieve a higher standard of living. Be sure to
support all claims with research.
·
Assess whether democracy can survive if the majority of
U.S. citizens pay little or nothing in taxes but benefit directly from
increased government spending. Why or why not?
·
Propose the composition of government, government spending,
and taxation that you believe would work best. Be specific and support your
proposal with research.
Case 2: The
Economics of Social Security
·
Review Special Topic 2: The Economics of Social Security
of Macroeconomics: Private and Public Choice.
Using the Economics of Social Security case, knowledge you
have gained in this course, and at least three additional credible sources,
analyze the case by addressing the following:
· Explain how the Social Security system’s basic principles
differ from private insurance.
·
Determine how Social Security affects the economic
well-being of the black community compared to white and Hispanic communities.
·
Assess if the current Social Security system promotes
income equality. Why or why not?
·
Propose how the Social Security system could be modernized
to ensure long-term solvency and fairness in distribution. Be specific and
support your proposal with research.
Case 3: Keynes and Hayek: Contrasting Views on Sound
Economics and the Role of Government (Case 4 in the text)
·
Review Special Topic 4: Keynes and Hayek: Contrasting Views
on Sound Economics and the Role of Government of Macroeconomics:
Private and Public Choice.
·
Review Chapters 11 and 12 of Macroeconomics:
Private and Public Choice.
Using the Keynes and Hayek: Contrasting Views on Sound
Economics and the Role of Government case, Chapters 11 and 12, knowledge you
have gained in this course, and at least three additional credible resources,
analyze the case by addressing the following:
·
Describe briefly how Keynes’s and Hayek’s economic theory
and views differ.
·
Contrast the two views on how savings impact the economy.
·
Compare the two views on whether the economy would
fluctuate, more or less, over the business cycle without government
intervention. Be sure to address the inherent stability of the market economy
and the impact of government interventions to steer the economy.
·
Hypothesize on which economist theory, Keynes or Hayek, you
believe is more credible and explain why. Be specific and support your
hypothesis with research.
The Cases: Applying Economics to the Real World final
project
·
must be six to seven double-spaced pages in length (not
including title and references pages and formatted according to APA StyleLinks to an external site. as outlined in the
Writing Center’s APA Formatting for Microsoft WordLinks to
an external site. resource.
·
must include a separate title page with the following in
title case:
o
title of paper in bold font
§ Space should appear
between the title and the rest of the information on the title page.
o
student’s name
o
name of institution (The University of Arizona Global
Campus)
o
course name and number
o
instructor’s name
o
due date
·
must utilize academic voice. Review the Academic
VoiceLinks to an external site. resource for additional
guidance.
·
must include an introduction and conclusion paragraph.
o
Your introduction paragraph needs to end with a clear
thesis statement that indicates the purpose of your paper.
o
For assistance on writing Introductions
& ConclusionsLinks to an external site. and Writing
a Thesis StatementLinks to an external site., refer
to the Writing Center resources.
· must
use at least three credible sources in
addition to the course text.
o
The Scholarly, Peer-Reviewed, and Other Credible SourcesLinks to an external site. table offers additional
guidance on appropriate source types. If you have questions about whether a
specific source is appropriate for this assignment, please contact your
instructor. Your instructor has the final say about the appropriateness of a
specific source.
o
To assist you in completing the research required for this
assignment, review Quick and Easy Library ResearchLinks to an external site. tutorial,
which introduces the University of Arizona Global Campus Library and the
research process, and provides some library search tips.
·
must document any information used from sources in APA
Style as outlined in the Writing Center’s APA: Citing Within Your PaperLinks to an external site. guide.
·
must include a separate references page that is formatted
according to APA Style as outlined in the Writing Center.
o
Review the APA:
Formatting Your References ListLinks to an external site. resource
in the Writing Center for specifications.
