Hi guys, I'm having a lot of trouble with this question. Maybe I should have paid attention more, too late now though. If anyone could help or point me out in the right direction, I'd really appreciate it! Thank you.
Here is what the paper says
"Your assignment is one used for many years by Professor Robert Frank of Cornel University. You are simply to use a principle or principles discussed in this course to pose and answer a simple interesting question about some about some pattern of events or behavior that you personally have observed. For example, early in the semester we will have a Discussion Forum question “Why don’t people have more sex?” This could have worked for this assignment, because it can be answered using the concepts of marginal analysis, opportunity cost, etc. We will also be discussing the impact of automobile safety equipment on driver behavior. Again, this would have been a good issue to discuss for the assignment.
Dr. Frank wrote an article for the New York Times in September 2005 that discussed the assignment. The article contains several more examples.
To state the obvious, the examples contained in the article (or others I’ve given) CANNOT be used to get extra credit. Points are awarded based both on how well you utilize economic principles in your example and on creativity.
You are limited to no more than 500 words, and you should try to avoid complex jargon or explanations. Precise simplicity is best. All submissions must be made electronically (by email) in either Word or .pdf format. The submissions become my property and I reserve the right to post some of the best on Blackboard as further examples."
Based on the information provided, it seems like you have been assigned a task by Professor Robert Frank of Cornell University. The assignment requires you to use economic principles discussed in the course to pose and answer a simple, interesting question about a pattern of events or behavior that you personally have observed.
To start, it would be helpful to review the course materials and think about the economic concepts that have been discussed. Consider concepts such as marginal analysis, opportunity cost, supply and demand, incentives, externalities, or any other relevant principles that you have learned.
Next, think about a pattern of events or behavior that you have observed in your daily life, work, or any other context. Try to identify a question or issue within that pattern that can be approached using the economic principles you have reviewed. It's important to choose a question that is both interesting to you and can be answered using economic analysis.
Once you have chosen your question, you can begin to apply the economic principles to analyze and answer it. You should aim to keep your explanation concise and simple, avoiding complex jargon. You can support your analysis with real-life examples or data if available.
To complete the assignment, write a submission of no more than 500 words that addresses the question and applies the economic principles you have chosen. Make sure to present your analysis clearly and logically, demonstrating your understanding of the economic concepts. You should also aim to be creative in your approach, as points are awarded based on both the utilization of economic principles and creativity.
Once your submission is ready, you can submit it electronically by email in either Word or PDF format, as specified by your professor. Remember that your submission becomes the property of the professor, and selected submissions may be shared as examples on Blackboard.
If you are still unsure about what question to choose or how to apply the economic principles, it may be helpful to consult with your professor or classmates for guidance. They can provide feedback and suggestions to help you on the right track.