Week 2 Markets and the Economics of the Public Sector

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Markets and the Economics of the Public Sector

You have been assigned to a team that has the responsibility of preparing a paper consisting of 1,750 words for the governor’s next economic conference. Your paper should address the following:

  • Explain why equilibrium of supply and demand is desirable.
  • Explain the following concepts using the concept of consumer and producer surplus:
    • Efficiency of markets
    • Costs of taxation
    • Benefits of international trade
  • Discuss how externalities may prevent market equilibrium and the various governments policies used to remedy the inefficiencies in markets caused by externalities.
  • Analyze the difference between the efficiency of a tax system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles.

Cite a minimum of 3 peer-reviewed sources, not including your textbook.

Format consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Name the assignment as stated in the instructor policies

Submit TurnItIn and WritePoint reports

 

Grading Guide

Â

Content

 

Met

Â

Partially Met

Not Met

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Comments:

Students explain why equilibrium of supply and demand is desirable.
Students explain the concepts of efficiency of markets, costs of taxation, and benefits of international trade using the concept of consumer and producer surplus.
Students discuss how externalities may prevent market equilibrium and the various government policies used to remedy the inefficiencies in markets caused by externalities.
Students analyze the difference between the efficiency of a tax system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles.
The paper is 1,750 words in length.

Total Available

Total Earned

11

#/X

Writing Guidelines

 

Met

Â

Partially Met

Not Met

Â

Comments:

The paper–including tables and graphs, headings, title page, and reference page–is consistent with APA formatting guidelines and meets course-level requirements.
Intellectual property is recognized with in-text citations and a reference page.
Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed including spelling and punctuation.
Student has followed naming convention specified in the Instructor Policies
Student has submitted WritePoint and TurnItIn reports.

Total Available

Total Earned

4

#/X

Assignment Total

#

15

#/X

Additional comments:

 

 

 

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