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. We strongly encourage you to meet with the TA’s ahead of time to discuss your writing assignment and get feedback. The due date for the final draft of your essay is March 30th by midnight.

You must submit the writing assignment in Canvas, in MS Word format by the due date and time. Clearly identify which 2 concepts you are analyzing, and also include a link to the article you are responding to. Do not copy someone else’s work. If we catch you copying, the penalty is an F for the course.

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

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