Learning Goal: I’m working on a management question and need guidance to help me learn.
Instructions:
Chose an economic policy debate(Proposed Short-Term Rental (STR) Policy) you have seen in the news and care about. You must demonstrate that it is important to our society. Briefly describe the policy, and your position. Then analyze it from an economic perspective. Use supply and demand graphs to show whether your policy stance increases or decreases economic efficiency. Describe the first, second, third, and etc. order effects of implementing the policy (the first effect is that of the policy itself. The second, third, etc. orders are the response to incentives the policy creates). Then, show how society would pay for the policy and comment on the relative efficiency of the payment.
For this paper, you must assume the market works as it is supposed to(markets often fail for a variety of
reasons, which we will look at during the second half of the course). For this paper, the assumption is a
functioning market. In other words, the general assumptions of the laws of economics hold
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Requirements: Each is a requirement
- Paper is well structured with a beginning, middle and end, and does not exceed 1500 words
- Paper has a clear thesis statement
- The selected policy has economic intent or consequences, and is important
- 4.Graphs are used to show the economic effects of the policy
- First, second, and third order effects are clearly identified and defined
- A source of adequate funds has been identified and analyzed from an economic perspective
