Category: economics

IDEA and the IEP process

Posted on | by Brian Leakey

The following 5 chapter video series (about 10 -13 minutes each) was created for parents. It is designed to help them understand IDEA and the IEP process. It is an excellent series that you might want to save and share with parents when needed.

Rather than ask you a bunch of questions , I’d like you to take notes as you watch the videos- handwriting is good for your brain. Once you complete the videos and your notes, take a picture of your notes and upload to Canvas. IF you are submitting a picture of hand written notes make sure the are legible and the picture is clear. We expect no less than 300 words of notes per video- you should be submitting 3 pages of notes for full credit.

1.https://www.youtube.com/watch?v=bSm3wOjkkVw&t=151s

2.https://www.youtube.com/watch?v=QMctXPmG7bc

3.https://www.youtube.com/watch?v=BIi0xanOVcs&t=2s

4.https://www.youtube.com/watch?v=DDhLjYSbwCc

5.https://www.youtube.com/watch?v=ok0irMNfKmY

Changes in Monetary Policy

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Now assume that the Fed lowers the reserve requirement to 8%.

What is the maximum amount of new loans that this bank can make?
Assume that the bank makes these loans. What will the new balance sheet look like?
By how much has the money supply increased or decreased?
If the money multiplier is 5, how much money will ultimately be created by this event?
If the Fed wanted to implement a contractionary monetary policy using reserve requirement, how would that work?
Submission Details:
Address the questions above, showing your calculations.
Develop your analysis in Microsoft Excel format.
Enter non-numerical responses in the same worksheet using textboxes.
Name your document SU_ECO2072_W4_LastName_FirstInitial.

Perfectly competitive markets in the real world

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We’ve observed that there are few examples of perfectly competitive markets in the real world, yet we use the model of perfect competition as a comparison with other market structures. Can you think of any examples of monopoly in the real world? Describe something you believe could possibly called a monopoly and explain why it fits the characteristics of a monopoly.

Is your example a true, unregulated monopoly? (For example, Microsoft has been called a monopoly, but it is not the sole producer of computer operating systems, so strictly speaking it’s not a monopoly.)

If there are few true monopolies, what can we learn from studying that market structure?

The market structure of perfect competition

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The market structure of perfect competition has a lot of ideal qualities–hence the name perfect. For example, perfectly competitive firms are productively efficient, and perfectly competitive markets are allocatively efficient. It is, however, difficult to find many examples of perfectly competition in the real world. Perfect competition is really a benchmark against which we compare other market structures in the real world.

How much actual competition occurs in perfectly competitive markets? Some make the claim that there is actually no competition between firms in a perfectly competitive market.

Do you agree or disagree with this claim? What is your reasoning?

Trade barriers

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Select a country of your choice (other than Saudi Arabia) and discuss why the country imposes trade barriers. What is the effect on the economy of the country? (Analyze the effect on the trade balance, employment, and economic growth). What are the arguments for and against trade barriers in your chosen country?

 

Taxing junk food

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Recently there has been discussion in the news about taxing junk food (soft drinks, for example) in an effort to reduce the incidence of obesity in the U.S. Do you think the demand for junk food is elastic or inelastic with respect to price?
Based on your knowledge of the price elasticity of demand, do you think the deadweight loss of a soda/junk-food tax would be relatively large or relatively small? Why? Do you think taxing junk food would be a good idea? Based on your analysis, would it really help reduce the number of obese people in the United States? Explain.

Gross Domestic Product (GDP)

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Gross Domestic Product (GDP) is the broadest measure of output for an economy. However, GDP does not perfectly measure well-being of a nation and its citizens’ welfare. Discuss what GDP is and what it measures? Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?

Raising the minimum wage

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Raising the minimum wage will also affect the labor costs of businesses. What is going to happen to the prices these businesses charge for their products? And who is going to be most affected by these price changes, those with low incomes or those with high incomes?