Answer the following 3 questions using the example below then I will need a reply on another post

Answer the following 3 questions using the example below then I will need a reply on another post

Description/Paper Instructions

Answer the following 3 questions using the example below then I will need a reply on another post

Description

We learned in this chapter that when an individual, firm, or country has the comparative advantage in producing a good or service, they can gain from trading that good or service with others.  The American economy is based on this idea.  Most people have 1 job which they can do at a lower opportunity cost than other people, which is why other people pay them to do it.  For example, cooking is not very difficult, but it takes years of education and experience to do it at a high level.  You could prepare a gourmet meal, but a professional chef can do it at a much lower opportunity cost, which is one reason you might pay a professional to cook for you –you give up less resources (time) earning money to pay for a meal than you would learning how to cook well, and then actually making a meal.  The chef then takes the money they earned cooking, and uses it to pay other people to do services for them… for example, the chef could work on their own car, but the mechanic has a comparative advantage in automotive work, so it makes sense for the chef to pay the mechanic… and the mechanic takes the money and the cycle continues.

Most of my students are in college because they think they will be able to make more money with a college degree.  But at the same time, we know that some college degrees really don’t help graduates make more money (art history, for example).  The problem with degrees like this is that they don’t provide students with skills that give them a comparative advantage in doing something that pays well.  An art history degree will allow graduates to compare and contrast historical art, but there is basically no market for these skills, which is why they make no money with this degree.

With all of this in mind, please respond to the following prompts:

1. What skills are you hoping to get in college that you will sell to employers later? What will you have a comparative advantage in?
2. If you don’t finish your degree, what will you have a comparative advantage in and what type of job will you do?
3. If you do finish your degree, but you do the minimum possible to get by and don’t really get the skills you need, how will this affect your ability to make money later in life?

If you don’t know what you want to do or what skills you want, then you can do this assignment from the perspective of someone you know.  Imagine you are them, and answer accordingly.

Here is my personal example:

1. I went to college to learn economics, which is the study of resource allocation. I learned how to make optimal decisions using marginal analysis in many different settings.  This gave me the ability to analyze business activities and to offer consulting services to businesses that need to make changes to maximize their profits.  (I later went to graduate school to develop a comparative advantage in teaching college-level economics courses.)
2. If I didn’t finish my degree, I would probably be a manager at a pizza restaurant. I know the industry well, have experience, and there are many job openings for people with these skills.
3. If I was a lazy student, just doing the minimum to get by, I would not have actually learned what I needed to. I could probably still graduate -“C’s get degrees”- but the important thing is to get skills.  The degree on my wall is just a receipt in a nice frame.  If I had been a lazy student, I would not have a comparative advantage in anything, I would just be in debt due to student loans and would have been better off not going to college at all. 

Answer the following 3 questions using the example below then I will need a reply on another post

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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