The assignment is to write a 1200-1500 word essay applying two economic concepts from the list below to an online...

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.

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