Roles and Skills of Economists Term Paper
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Roles and Skills of Economists Term Paper
Role, Skills, Economists, Term, Paper
- One of the skills of the economist, as defined in Chapter 1 of the book, is to observe facts, weed out relevant ones from irrelevant ones, and theorize about the cause. Yet top economists wildly and readily disagree on most, if not all, aspects of the economy.
It’s often even joked about that economists are like weathermen in that they can be wrong all of the time and still have a job where people listen to what they say. Explain why this is so, and what you think contributes to the wide variance in theories put forth by economists, especially during election years.
- A newspaper item reported that two-thirds of all mothers who work outside the home “do it for the money, not by choice.” Are those really the only alternatives? Could it be that the real culprit is that most American families want to climb the social ladder and have more possessions; therefore, one income is often not enough to make that happen?
Or maybe is it that divorce is so prevalent that women must work to cover her living expenses? Or that many mothers have never married? Or is it that most mothers want a life outside of just being a “mommy?” Or is it a bit of everything. Explain your view on working mothers and the economics reasons behind them.
- Airlines are willing to overbook flights because they know that people who make reservations do not always show up. Sometimes, however, this results in more people holding reservations at the gate than there are seats on the flight.
- Is overbooking efficient from the airlines’ standpoint? Why or why not?
- Is overbooking efficient from the standpoint of passengers? Why or why not?
- As a consequence of a 1976 court case that Ralph Nader won against an airline that had “bumped” him, the federal government adopted a rule requiring airlines to compensate people who were denied boarding despite holding a confirmed reservation. As a result, the airlines started to ask for volunteers who were willing to take a later flight whenever a flight turned out to be overbooked. Who benefited from this new regulation, and how?
- If passengers can, in effect, sell their confirmed reservations when a seat shortage arises, why can’t passengers sell their right to land at a crowded airport when a shortage of landing slots arises? How do you think this would change air travel as we know it?
- Before 1976, the airlines often denied boarding to passengers who were flying on urgent business in favor of passengers who were not in any particular hurry to reach their destinations. This would seem to be a cooperative failure.
What was the crucial step that lowered transaction costs sufficiently to transform the frustrating situation before 1976, when the last persons to show up at the gate were denied boarding, into the current system, where only volunteers are denied boarding?
- Suppose a gasoline station offers the following promotion on the 4th of July: “TODAY ONLY: FREE GASOLINE FROM NOON UNTIL 3:00 P.M.! HAPPY BIRTHDAY, AMERICA!” Is that gasoline a free good to the owner of the station? Is it a free good for all the drivers who wait in long lines to fill up?
Countless others might decide to avoid the “free” gas and fill up at other stations that charge $4.00 per gallon. In your opinion, are they foolish to pass up the opportunity? In the economic way of thinking, would they be failing to economize?
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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