4 Economics assignment.

Instructions

Only provide your opinions when specifically called for. In all other cases your answer(s) should rely on the text and module materials and not on the internet, showing your capacity to apply the appropriate economic principles and concepts correctly.

Is education a public good? Does education have external benefits? If so, what are some of those public benefits? In your opinion are the external benefits large or small? Why? What should government do to promote the efficient provision of products that have external benefits? If you think that government should put more resources into education, what might be some of the opportunity costs of that decision? How would an economist determine the right amount of government support for education?

Grading Rubric

Criteria	Not Evident 0%	Developing 55%	Proficient 80%	Distinguished 100%	Weight
Recognition of education as a public good					20
Recognition of external benefits & some examples					20
Identifies correct government action to promote goods with external benefits					20
Opportunity costs examples					15
Determines how economists would determines the proper amount of education					15
Articulation of response (citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas.)					10