Themes of Microeconomics | Get the Essay

Module 1 – CaseINTRODUCTION TO ECONOMICSAssignment OverviewIn this first Case Assignment, you will be researching some of the key economic terms and concepts presented in the required and outside readings. You will then turn your theoretical research into practice by defining the terms and concepts, as well as offering real-time examples of each. This is a multi-part assignment, so make sure that you have addressed each question or topic. The best way to approach this assignment is to prepare your responses in outline form following the order of each question/topic. This will help you keep track of your responses.Case AssignmentAfter reviewing the information listed on the background materials page, address the following questions in an essay or short-answer form. Support all your answers with references:1. Explain the difference between positive and normative economics. Give a real-time example of each that you found in doing some outside research.2. After doing some additional research on your own along with the assigned reading on public goods, answer the following questions:a. What are the two main characteristics of this type of good?b. What is the biggest “problem” with allocating public goods?c. Do you think the government should have a role in allocating public goods, or should goods be privatized?Here’s a great site that offers definitions and examples of economic terms literally from A to Z; https://tinyurl.com/6rxna6aAssignment Expectations• Use concepts from the modular background readings as well as any good quality resources you can find.• Cite all sources within the text and in a reference list at the end of the paper.• Length: 4–5 pages double-spaced and typed.• The following items will be assessed in particular:o Your ability to follow prescribed assignment content guidelines.o Your ability to apply the basic concepts to the questions.o Some in-text references to the modular background readings (APA formatting not required).o The essay should address each element of the assignment. Remember to support your answers with solid references, including the case readings.Module 1 – BackgroundINTRODUCTION TO ECONOMICSPLEASE NOTE: The URLs are not active links. To access the sources, you will need to cut-and-paste the URL into your browser. This will take you to the selected reading.If you do not have Office 365, below are the directions to download it. Please note that there are additional directions on our Trident support Site: http://support.trident.edu/?page_id=325Information for downloading MS Office is located on our support.trident.edu site. Here is the link to the file: https://tinyurl.com/y7t4rwqzTo add Office to your Trident University Webmail – OWA – Outlook Web Access, go towww.outlook.com/my.trident.edu and log into your Trident University Email.When you see that you are logged into your Webmail, go to Settings Office 365 settings. You can use one of the following two ways to access:1. If you see the following notification under your Alerts, click on Install Now:2. OR select ‘Settings’ Office 365, select Software, and Install.3. If you do not have the above notice, copy and paste this link: https://tinyurl.com/y77bzz5dIf you do not see your email account in the top-right corner of the page, log into your webmail first and then click on link or copy and paste link into a new tab in your browser.Click on START and follow the prompts. Once downloaded, if MS Office has not yet requested your Trident email, open one of the programs like MS Office ‘Word’ and use your Trident University Email is your verification of your MS Office License.In this Module, you will learn about some of the major terms, principles, and themes of microeconomics. Economics cannot help you make a selection from a box of chocolates, but it can be a vital tool in other decision-making situations. In fact, the study of economics addresses some of the most fundamental problems we face: How to make the best decision given that resources are limited. You can use the tools of microeconomics to decide how best to spend your income; how best to divide your time among leisure activities; or how many people to hire in the business you run. Life is full of choices. Microeconomics can help you decide how to make them.For this module, you are required to review the materials below. Please note that the videos also offer transcript options. Guidance on accessing the transcripts is given with each assigned reading.Please review the Required Readings in the order they are listed.Introduction to Economics, Khan Academy video, created by Sal Khan, 2012There is a transcript available that accompanies the video. To view it, click “Transcript” directly beneath the “Introduction to economics” title beneath the video screen.Use the ‘TinyURL’ to access the video: https://tinyurl.com/kwazxptIf it is not working, here is the full URL: https://www.khanacademy.org/economics-finance-domain/macroeconomics/gdp-topic/econ-intro-in-macro-tutorial/v/introduction-to-economicsWhat is Economics and Why Is It Important, Creative Commons article, by Phil Schatz, OpenStax College,Economics. OpenStax CNX, (n.d.) When you have read the article, scroll to “Glossary” and ensure you have a good working knowledge of the terms.Use the “TinyURL” to access the article: https://tinyurl.com/yanr4t3vIf it is not working, here is the full URL: http://philschatz.com/economics-book/contents/m48591.htmlPrinciples of Microeconomics, Video lecture (34:14) presented by Professor Jon Gruber, MIT, 2012Transcript is under “…More”Use the “TinyURL” to access the video: https://tinyurl.com/yaztgykyIf it is not working, here is the full URL: https://www.youtube.com/watch?v=Vss3nofHpZWhat are public goods? Khan Academy video presented by Professor Jonathan Anomaly, 2015The video also has a Transcript option.Use the “TinyURL” to access the video: https://tinyurl.com/y9nqzpgaIf it is not working, here is the full URL: https://www.khanacademy.org/partner-content/wi-phi/wiphi-value-theory/wiphi-political/v/what-are-public-goods

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