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Major Economic Decision
Guidelines for Short Paper EC 101 Mr. Spencer DUE Last Class Meeting The paper should be a minimum of 5 pages double spaced. The paper should be centered on a major economic decision in your life such as: Taking a job or internship Buying a house or renting an apartment Buying a car Deciding to attend college Paying for college Getting married Taking a vacation Please explain your decision making process in detail, including listing the alternatives under consideration. Describe the costs and benefits of various alternatives. Also discuss how other stakeholders are affected economically. You should include how this decision may be influenced by economic concepts, such as: Did the current state of the business cycle affect your decision? What were the tradeoffs for you between near-term and long-term rewards? What opportunity costs were incurred due to this decision? How do changes in supply and demand influence the price you expected to pay? What type of market structure was involved? Who is responsible for supplying this good or service? What factors of production are involved? Did your prospects for employment impact this decision? Were actions by the government involved in your decision? Did interest rates or the need to borrow affect your decision? Who profited most from your transaction? Was international trade involved in your transaction? Did the level of taxes impact your decision? How does taking this class improve your decision-making ability?
Guidelines for Short Paper EC 101 Mr. Spencer DUE Last Class Meeting The paper should be a minimum of 5 pages double spaced.