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| | ==Assignment== | | ==Assignment== |
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| − | Read and reread the above lecture. Complete the homework assignments at the level in which you choose to enroll in this course. You can change your mind later and shift from "honors" to "regular" or "regular" to "honors" if you like. Each week the "regular" portion will be about 6 to 8 questions, which all students should complete. The honors portion will be additional questions that the students enrolled in honors should complete. | + | Read and, if unclear, then reread the above lecture. Complete the homework assignments at the level in which you choose to enroll in this course. You can change your mind later and shift from "honors" to "regular" or "regular" to "honors" if you like. Each week the "regular" portion will be about 6 to 8 questions, which all students should complete. The honors portion will be additional questions that the students enrolled in honors should complete. |
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| − | For faster grading and feedback, you can post your answers using your first name and last initial by following the link for the appropriate week at: | + | For faster grading and feedback, you can post your answers using only your first name and last initial by following the link for the appropriate week at: |
| | <br>http://www.conservapedia.com/Economics_Homework | | <br>http://www.conservapedia.com/Economics_Homework |
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| | Alternatively, you can hand in your homework answers on paper at the next class, for me to grade and return at the following class. | | Alternatively, you can hand in your homework answers on paper at the next class, for me to grade and return at the following class. |
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| − | Reminder: if you just cannot figure out answers to this or any other homework assignment in this class, then try looking at the model answers to similar questions from two years ago as posted here: http://www.conservapedia.com/Economics_Lectures
| + | If you cannot figure out answers to this or any other homework assignment in this class, then try looking at the model answers to similar questions from two years ago as posted here: http://www.conservapedia.com/Economics_Lectures |
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| | 1. Give an example of a "good" not in the lecture, and an example of a "service" not in the lecture. | | 1. Give an example of a "good" not in the lecture, and an example of a "service" not in the lecture. |
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| | ===Honors=== | | ===Honors=== |
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| − | Write an essay totaling about 300 words (rough approximation only) on one or more of the following topics (for example, you essay can be entirely about one of the questions, or can address more than one of the questions below): | + | Write an essay totaling about 300 words (rough approximation only) on one or more of the following topics (for example, you essay can be entirely about one of the questions below, or can address more than one of the questions below): |
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| | 7. Please suggest an improvement to our definition of "economics", being as creative as you like, and explain why you think your definition might be better. | | 7. Please suggest an improvement to our definition of "economics", being as creative as you like, and explain why you think your definition might be better. |
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| | 9. Improve on the lecture's definition of scarcity, and/or discuss the Ehrlich-Simon disagreement. | | 9. Improve on the lecture's definition of scarcity, and/or discuss the Ehrlich-Simon disagreement. |
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| − | 10. Imagine that you are riding on an airplane and need to finish a written project by the time it lands in order to earn a fee of $500. The passenger next to you, however, keeps interrupting you by complaining about how she lost a $5 bill in the airport before the plane took off. You keep asking her to forget about it, but she won't. She keeps bothering you so much that you cannot get your work done, which is worth far more than $5. What would make sense in purely economic terms for you to do to get her to stop bothering you about it? Explain. | + | 10. (Based on a true story.) Imagine that you are riding on an airplane and need to finish a written project by the time it lands in order to earn a fee of $500. The passenger next to you, however, keeps interrupting you by complaining about how she lost a $5 bill in the airport before the plane took off. You keep telling her to forget about it, but she won't. She keeps bothering you so much that you cannot get your work done, which is worth far more than $5. What would make sense in purely economic terms for you to offer to get her to stop bothering you about it? Explain. |
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| | 11. "There is no such thing as a free lunch!" Discuss the concept of (economic) scarcity in the context of that saying. | | 11. "There is no such thing as a free lunch!" Discuss the concept of (economic) scarcity in the context of that saying. |