Building a simple microeconomics model.

 Paper: A simple micro economic model explained either by a simple utility function or a graph. Could be any topic for example: The relationship between schooling and wages or etc You must write a paper in which you describe your own economic model of individual, household, firm, or government behavior to help explain a topic of interest in economic development. The paper is completed in three stages over the semester so that students receive timely feedback to revise their paper. Stage 1 is the paper topic (2-3 pages), where students explain their economic topic of interest, its importance, and provide a brief overview of current relevant microeconomic models with a reference list. If relevant, you can include how the topic relates to empirical research as well (e.g. is it trying to help solve a debate/puzzle that has been found empirically?). Stage 2 is a draft microeconomic model of the economic topic of interest. This may be an extension of an existing model or a completely new model. Stage 3 is the final paper (8-10 pages) explaining the topic, the existing theoretical work, the proposed new model, and its implications/predictions. The three stages of the paper will be graded based on the Paper Grading Rubric. 

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