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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: introductory (questions 1-3), intermediate (questions 4-6) and honors (questions 7-10). | + | Read and reread the above lecture. Complete the homework assignments at the level in which you choose to enroll in this course: regular is up until honors (questions 1-6) and honors (questions 7-10). |
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| | ===Introductory=== | | ===Introductory=== |
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| − | 1. In three sentences or less, what do you hope to learn in this course? | + | 1. Please suggest an improvement to our definition of economics, and in one or two sentences say why you think you've improved it. |
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| − | 2. Give two short examples each of “normative statements” and “positive statements.” | + | 2. In three sentences or less, what do you hope to learn in this course? |
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| − | 3. Describe a few transaction costs associated with buying something. | + | 3. Give an example of a "transaction cost" that your family sometimes pays for when buying a particular good or service, but which you can think of a (lawful) way to avoid that cost (such as buying something direct without having to pay a middleman or shipping or postage costs, or eating something out of the refrigerator rather than using expensive gas to go to a restaurant). |
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| − | ===Intermediate===
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| | 4. Give some examples of scarcity created entirely by man (rather than nature), such as a ticket on the maiden voyage of the Titanic. Why do people create and emphasize scarce things? Does the illusion of scarcity increase the price? Does television prefer talking about scarce items? Why? | | 4. Give some examples of scarcity created entirely by man (rather than nature), such as a ticket on the maiden voyage of the Titanic. Why do people create and emphasize scarce things? Does the illusion of scarcity increase the price? Does television prefer talking about scarce items? Why? |
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| | Write an essay of about 300 words on one or more of the following topics: | | Write an essay of about 300 words on one or more of the following topics: |
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| − | 7. Read the account of the multiplication of the loaves by Jesus. Matthew 14:13-21. After reading that, do you think scarcity really does exist?
| + | 8. Read the account of the multiplication of the loaves by Jesus. Matthew 14:13-21. After reading that, do you think scarcity really does exist? |
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| − | 8. What is money, really?
| + | 9. What is money, really? |
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| − | 9. Should spending money be protected by the free speech clause?
| + | 10. Should spending money be protected by the free speech clause? |
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| − | 10. Does the U.S. Constitution protect private property?
| + | 11. Does the U.S. Constitution protect private property? |
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| | == Links == | | == Links == |