I
will periodically assign Ad Hoc Readings of
interest - both group and individual - with a required
response from students. The objective of these readings is to
introduce new ideas or concepts, to stimulate thought and discussion, and to give
students the opportunity to apply economic theory
to real world issues and problems. It is meant to take the place of the in
class room discussions. I will expect
students formulate a response utilizing the economic tools from the text and
lectures. Student opinions are not acceptable. I don’t want to hear
of student values or emotional responses.
It
should be noted that these readings may be somewhat controversial in the sense
that they may not be as politically correct as many readings in other social
science classes. Also, many of the readings may fall in the political
economy field, which reflects the origin of economic studies.
Example:
Issue: The government raises the minimum wage in a community.
Acceptable Response: Economic theory suggests that the
unemployment rate in the community will increase. As the wage rate
increases rational employers will seek substitutes for labor. For
example, employers will replace units of labor with better tools and equipment
(capital). Based on the theory, I predict that this will tend to hurt unskilled
and untrained youths.
Unacceptable Response: I feel that the minimum wage is too
low. Poor people can’t raise a family earning the minimum wage.
Revised July 13, 2008