ECON ESSAY

The assignment is to write a 1200-1500 word essay applying two economic concepts from the list below to an online news article. Convince us you have attended and read all applicable material.  Clearly identify which 2 concepts you are analyzing, and also include a link to the article you are responding to.

Economic Concepts (Choose two):

• Good Institutions Align Self-Interest with the Social Interest
• Trade-offs
• Thinking on the Margin
• The power of trade
• The importance of institutions
• Opportunity Cost
• Comparative Advantage
• Specialization
• Supply & Demand
• Complementary Goods
• Substitute Goods
• Surplus & Shortages
• Price ceiling/floor
• Free rider
• Economies of scale
• Types of unemployment (frictional, structural, cyclical)
• Protectionism vs. free trade
• Tariffs and quotas
• Rational ignorance