ECON 3070 Intermediate Micro Theory
It is very important that we realize Economics is much more than just a class in college. It is a way of thinking about and interpreting the events going on in the world around us. The goal of this assignment is to give you practice using the tools from this class to analyze a
current event from the popular media. You must choose one of the two options below:
Listen to the Planet Money podcast, presented by NPR, entitled, Mavericks, Monopolies and Beer” (available at http://www.npr.org/blogs/money/2013/02/23/172724026/episode-438-mavericks-monopolies-and-beer). Use what you learn from the podcast and from some
additional research to write an analysis of the economics of the beer market by carefully addressing each of the following:
1. Summary of the podcast, in your own words. (5 points)
2. Historical background on the development of anti-trust and pro-competitive legislation in the United States. (5 points)
3. Careful analysis of the market structure (remember what that means from class and from your text) of the U.S. beer market. (5 points)
4. Personal reaction giving your own opinion about what the outcome of the case should be and why, using evidence to back up your claim. (5 points)
Explore the world of news media around you! Choose a news article or a podcast from the past year that is related to the material from this course (you can check out the pod-cast from Option 1 for a good example). You cannot use the podcast from Option 1 to complete Option 2. Do not use something that has no connection to the material covered in this Microeconomics course (e.g., an article about the Fed raising or lowering rates will probably not work), or a signicant number of points will be deducted. You may come see me one-on-one if you have a question about whether something will work or not. Write an analysis by carefully addressing each of the following:
1. Summary of the podcast or news article, in your own words. You will lose all 5 points if the article does not appropriately relate to the course. (5 points)
2. Background information about the general economics topic in the podcast or news article. (5 points)
3. Careful analysis of the main argument in the podcast or news article, using some of the tools we covered in this course. You will lose all 5 points if the article does not appropriately relate to the course. (5 points)
4. Personal refelction giving your own opinion concerning the main question of the podcast or news article (this is not your opinion about whether it is a good or bad piece, but your normative analysis of the main question in the article). Use evidence to back up
your claim. (5 points)
Be sure to include a copy of the news article or a link to the podcast with your submission so that I can check it out. You will lose points if you fail to do this.
This assignment is worth 25 points. I have identied 20 points for each of the options above. The remaining 5 points will come from proper formatting, clarity, grammar, style, etc.
You should double space your paper, use 12 point font and one inch margins, and num-ber all pages. The paper should be typed and stapled and turned in at the beginning of class on the due date (email submissions will not be accepted, so do not wait until the last minute to print or complete the assignment). Your paper should be no longer than 5 pages of text. If your analysis requires you to use graphs or gures, include them at the end of your paper. Make sure they are all clearly labeled!
The paper should be well-written. It should not be simply a listing of answers to the four questions, but a cohesive and well-constructed argument. You should use proper grammar and correct spelling. The writing should be clear and should make sense. If you have di-
culties with writing, feel free to consult with others, with me or with the University’s writing center (I highly encourage you to use the Writing Center if you think you need it). All nal submissions, however, must be your own work.