Consider a policy proposal and use economic analysis to argue for or against the policy. First, research the topic, create an economic model (using microeconomics, not macro) of the policy and make predictions of outcomes, find any other studies that have looked at this topic, present any empirical research that has been done, and ultimately make a case for or against the policy. It is okay (in fact, important) to present any evidence to the contrary. You may still decide the balance of the evidence is either in favor or opposed to the policy.Grading Rubric: Quality of Writing: Paper should be coherent and well-organized (I encourage you to use headers throughout the paper).
Use proper grammar and correct spelling. Write as though you’re writing a college paper, not as though you’re speaking or texting your friends. I should be able to easily understand the ideas you are expressing. Cite everything, and include a references section. Background information: Explain the background of the issue (if you’re considering rent control, explain why affordable housing is an issue) and what policy proposal you are considering. What problem is the proposal intended to address? If this has been tried before, discuss where and when and how well it succeeded. Model: Use the economic tools we have learned to model your issue and the policy proposal. Your model is topic specific, but consider using market supply and demand, consumer choice (budget constraints and indifference curves), profit maximization of the firm, long run equilibrium, behavioral models, input markets, monopoly, taxes, welfare analysis, etc. Analysis: Analyze your proposal. Will your proposal will achieve the stated goals? What are the costs? Are there unintended consequences? The more you can couch your ideas here in economic theory, the better. If your proposal has in fact been implemented and studied, this would be a good section to discuss results there. Suggestion: Do you support or oppose the policy proposal? This is a good opportunity to summarize your findings. You do not need to fit all the evidence in support of your argument, you may argue that while there are benefits, the costs outweigh the benefits (or vice versa). You may also conclude that more research is needed to make a final decisionTables and Figures: Show relevant data, both in the background section and in the analysis section. Draw any necessary graphs in the modeling section (it is okay to hand draw them, scan, and insert them into the text).