Part A
Politicians are often heard saying that tuition at state universities should be kept low "to make education equally accessible to all residents of the state, regardless of income."
1. Assuming that state funding for the universities is held constant, describe the conditions that will prevail if tuition is held below equilibrium price. Provide one (1) example to support your response.
2. Will education really be "equally accessible" under these conditions? Provide one (1) example to support your response.
Part B
Using the Internet, research the influenza vaccine, or "flu shot." Use the following to guide your research:
a. Think about the flu shot in the context of a public good.
b. What are the economic benefits of the flu shot?
c. In what ways has the government become involved in the distribution of flu shots? For what reasons?
1. Describe one (1) reason why the private market for flu vaccinations would produce an inefficient outcome.
2. Describe one (1) way that government involvement could achieve an efficient quantity of vaccinations.
3. Provide one (1) original example for each of the following:
a. a private good
b. a public good.
Grading Rubric
Please refer to the rubric on the following page for the grading criteria for this assignment.
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CATEGORYExemplarySatisfactoryUnsatisfactoryUnacceptable
15 points 12 points 8 points 5 points
Student provides a clear,
logical description of the
conditions that will prevail if
tuition is held below
equilibrium price, with at
least 1 clear, logical example.
Student provides a mostly
clear, logical description of
the conditions that will
prevail if tuition is held
below equilibrium price,
with at least 1 mostly clear,
logical example.
Student provides a weak or
unclear description of the
conditions that will prevail
if tuition is held below
equilibrium price, with at
least 1 weak or unclear
example.
Student provides a poor
description of the
conditions that will prevail
if tuition is held below
equilibrium price, with 1
poor example.
15 points 12 points 8 points 5 points
Student provides a clear,
logical description of
whether or not education
will be "equally accessible"
under the conditions
described, with at least 1
clear, logical example.
Student provides a mostly
clear, logical description of
whether or not education
will be "equally accessible"
under the conditions
described, with at least 1
mostly clear, logical
example.
Student provides a weak or
unclear description of
whether or not education
will be "equally accessible"
under the conditions
described, with at least 1
weak or unclear example.
Student provides a poor
description of whether or
not education will be
"equally accessible" under
the conditions described,
with 1 poor example.
15 points 12 points 8 points 5 points
Student provides a clear,
logical description of at least
1 reason why the private
market for flu vaccinations
would produce an inefficient
outcome.
Student provides a mostly
clear, logical description of
at least 1 reason why the
private market for flu
vaccinations would produce
an inefficient outcome.
Student provides a weak or
unclear description of at
least 1 reason why the
private market for flu
vaccinations would produce
an inefficient outcome.
Student provides a poor
description of 1 reason
why the private market for
flu vaccinations would
produce an inefficient
outcome.
15 points 12 points 8 points 5 points
Student provides a clear,
logical description of at least
1 way that government
involvement could achieve
an efficient quantity of
vaccinations.
Student provides a mostly
clear, logical description of
at least 1 way that
government involvement
could achieve an efficient
quantity of vaccinations.
Student provides a weak or
unclear description of at
least 1 way that
government involvement
could achieve an efficient
quantity of vaccinations.
Student provides a poor
description of 1 way that
government involvement
could achieve an efficient
quantity of vaccinations.
10 points 8 points 5 points 2 points
Student provides a clear,
logical description with at
least 1 example of a private
good and at least 1 example
of a public good.
Student provides a mostly
clear, logical description
with at least 1 example of a
private good and at least 1
example of a public good.
Student provides a weak or
unclear description with at
least 1 example of a private
good and at least 1 example
of a public good.
Student provides a poor
description with at least 1
example of a private good
and at least 1 example of a
public good, or fails to
provide examples.
20 points 15 points 10 points 5 points
Student makes no errors in
grammar or spelling that
distract the reader from the
content.
Student makes 1-2 errors in
grammar or spelling that
distract the reader from the
content.
Student makes 3-4 errors in
grammar or spelling that
distract the reader from the
content.
Student makes more than
4 errors in grammar or
spelling that distract the
reader from the content.
10 points 8 points 5 points 2 points
The paper is written in
proper format. All sources
used for quotes and facts are
credible and cited correctly.
The paper is written in
proper format with only 1-2
errors. All sources used for
quotes and facts are credible
and most are cited correctly.
The paper is written in
proper format with only 3-5
errors. Most sources used
for quotes and facts are
credible and cited correctly.
The paper is not written in
proper format. Many
sources used for quotes
and facts are less than
credible (suspect) and/or
are not cited correctly.
Part A: Conditions
(15 points)
Part A: Equally
accessible (15
points)
Format (10 Points)
Part B: Private
market (15 points)
Mechanics (20
Points)
Part B: Government
involvement (15
points)
Part B:
Private/public
goods (10 points)
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