Reflective Paper
Be sure to address each of the following questions in your reflective paper. Type your responses below each question, and leave the questions in the document. Remember that the length of your responses for this portion of the final is expected to be 1,000-2,000 words in total, not including the prompt questions. Please answer each question after having reviewed and reflected upon your writing prompts, and assignments throughout this course.

1.    Describe your impressions of economics before you took this course, and compare/contrast that to your current ideas of economics.

2.    Now that you have completed the course, reflect upon any of concerns or challenges related to the economy or businesses you may have had when you began the course. Do you think that the material you learned in this course has influenced your thinking about those concerns or challenges? Please explain why or why not.

3.    Which video, assignment, reading, concept, or activity had the greatest impact on you? Explain why and how this will affect how you view the world and economics impact.

4.    Which video, assignment, reading, concept, or activity is the most important for the domestic or global economy? Explain why and how this will affect the economy in the short and long-term.

5.    Which assignment, reading, concept, or activity was the most difficult or challenging for you? Describe why it was challenging and how that challenge will view of the economy.

6.    Did any topic(s) surprise you that it (they) was (were) part of the study of economics? Now that the topic(s) has (have) been introduced in economics, explain how it fits into economics.

7.        What do you think you still need to learn about economics, and how will you go about continuing your development educated citizen?

8.    Was there anything that you expected to learn in this course that you did not learn? How could this course be improved?

9.    What was your biggest barrier to success if any? Keep in mind that this was a fully online, accelerated class that covered in 2 weeks what is usually covered in 14 weeks. What was your biggest strength in being successful in this course?

https://www.youtube.com/watch?v=41y4c1Oi5Uo CNBC Why the inequality gap is growing

https://www.youtube.com/watch?v=RzV76M4Vd5w Infographics on inequality

https://www.youtube.com/watch?v=0xMCWr0O3Hs Crash Course Economics

https://www.youtube.com/watch?v=SMsirg7Z0bU Branko Milanovich lecture

You must create a new thread in this forum using the media and textbook concepts. Your initial thread should address your reaction to the media in the context of chapter 15 (income inequality ) of the text.

What do you think of income inequality in the US and abroad?
Do you think everyone has the same ability to prosper in our economy?
Do you think everyone has the same opportunity in our economy?
What role do you believe government policy plays in this inequality?
Do you think that income inequality impacted people in their ability to respond to COVID 19?
What solutions would you provide?

Read Chapter 13 from the text and the article, Should We Tax People for being Annoying? in the shared documents or at https://www.nytimes.com/2013/01/13/magazine/should-we-tax-people-for-being- annoying.html?_r=1

Watch the videos:
The Economic Lowdown: Externalities at https://www.youtube.com/watch?v=57GTMN4Zxkw (approx. 6 minutes)

Making Sen$e at https://www.pbs.org/newshour/show/economic-options-combatting-climate-change(8:22 minutes).

Listen to the podcast, Air Pollution Explainer: Whats an Externality? at https://www.marketplace.org/2013/12/09/sustainability/air-pollution-explainer-whats-externality (approx. 2 minutes).

Your writing prompt should be based on the concepts of the videos, podcast, article, and chapter 13 of the text.
This paper should have at minimum 5 paragraphs and be related to the text and media. All of the supplemental media must be incorporated in the writing prompt.
Markets with externalities are important cases in which free markets fail to maximize social surplus. Make sure you have minimally discussed the following:
specific negative or positive externalities that interests you NOW; o what are the potential benefits and/or costs to society?
o could the externality have both a cost and a benefit?
the differences between the private benefits and costs and the social benefits and costs;
can the government play a role in improving market outcomes in such cases;
should the government play a role in improving market outcomes in such cases (normative
discussion)?

ECONOMICS Research Project Due January 14 (200 points)
A minimum of a 8-10 page paper, not including citations page, on US health care or health insurance industry. You may focus on the economics of the health care industry, economic impact of the governmental policy on the health care industry or related industries such as pharmaceuticals or nursing homes, etc. (must be closely related).
You should discuss the following in the economic context:
Market Structure specifically how does market structure impact business decisions?
Production Decision how much to produce? How does profit maximization play a role?
Evolution of a Competitive Market how has the marketplace evolved over time?
Impact of Governmental Regulation
o Historic and current policy (Affordable Care Act, ACA or Obamacare) o What is currently being discussed for legislation? What is TrumpCare? o What impacts will this have on the economy as a whole?
Make sure to cite the sources for the projections, such as Congressional Budget Office, Health and Human Services, etc.
o Debate on the issue: merits and weaknesses of each side. Present both sides in the economic context!
Application to our Microeconomics classes if applicable:
o Supply and Demand
o Governmental Policy
o Strategic Behavior
o Your own position and its economic defense o Market Structure
o Asymmetric Information
o Adverse selection and Moral Hazard
If you would like to discuss the economic impact of COVID-19 on individual industries, such as oil, travel, hospitality, education, etc., instead of the traditional health care history and market as outlined in the original assignment, it would be perfectly acceptable. Keep in mind; you would need to discuss the economic effects of the disease. The DETERMINANTS are especially important in this context, and you need to discuss how they affected the markets and whether the determinants shifted the demand or supply curves.
If you discuss the economic stimulus (either fiscal or monetary), you must present the merits and weaknesses of each side and present both sides in the economic context!
Keep in mind the focus of this paper should be the economic impacts of healthcare or COVID. You need to demonstrate that you are able to APPLY the concepts covered in the class. I do not want a summary of articles or other peoples work. You need to show you know how to apply, analyze, synthesize, and evaluate in an economic context.

Cheating: If you are caught cheating you will be receive a zero on the assignment and may be reported to the administration to face disciplinary action. Cheating includes plagiarism.
To get started, watch the following videos: https://www.youtube.com/watch?v=S9zRjKgv9Qo up to time marker 4:59 or more.

Listen the following Podcast: http://www.npr.org/templates/story/story.php?storyId=114045132 .

You need to cite at least four (4) sources besides these and the textbook.
For more current articles and discussion, many of the major print publications, like the New York Times, Wall Street Journal, Washington Post, Forbes, The Economist, Time, etc., have devoted topics with links to other source. Governmental agencies, like www.hhs.gov (Health and Human Services), CBO.gov (Congressional Budget Office), CEA.gov (Council of Economic Advisors), etc., for statistics, projections and analysis could also be very useful. If you use Wikipedia, you MUST go to the primary sources.
This assignment must be typed in MSWord and uploaded in BlackBoard. Use MLA format. You need to submit a citation page. I am hoping to pique some interest in you and these issues that will stay in the headlines for years to come. COVIDs historic economic and social impact will spawn numerous chapters in textbooks and whole books will be written about this (terrible) year.
Its wide-open. Have fun with it.