econ 4 & 5

ECO202 – Microeconomics

Unit 5 Assignment: Externalities

Due: Sunday by 11:59 pm at the end of Unit 5.

Should the FDA regulate prescription drug importation?

According to the mission statement of the Food and Drug Administration, it is responsible for

protecting the public health by assuring the safety, efficacy, and security of human and

veterinary drugs, biological products, medical devices, our nation’s food supply, cosmetics,

and products that emit radiation. The FDA is also responsible for advancing the public health

by helping to speed innovations that make medicines and foods more effective, safer, and

affordable; and helping the public get the accurate, science-based information they need to use

medicines and foods to improve their health. The FDA regulates the pharmaceutical market

by controlling the approval of imported drugs.

Your assignment this week is to assess the importation of prescription drugs by addressing the

following:

1. List the arguments for allowing importation of foreign prescription drugs.

2. List the arguments against the importation of prescription drugs.

3. What relationship/s do you find between your research and negative externalities, positive

externalities, and public goods ?

Your final product will be a paper that:

 Addresses each of the four questions above in total.

 Is APA fortatted.

 The body is to be 2 pages minimum.

The requirements for your assignment are:

1. Answer each question fully

2. Define the overall subject of each question.

3. Cite at least three (3) resources from this week’s materials.

Students: Be sure to read the criteria and review the grading rubric on the next page, by

which your paper/project will be evaluated, before you write, and again after you write.

Evaluation Rubric for Unit 5 Assignment

CRITERIA Deficient Proficient Exemplary Points

Earned

Overview of the

Topic 0-13 Points

Does not provide an

adequate overview

or is missing.

14-27 Points

Overview is

presented, though

may not be clear or

complete.

28-40 Points Overview is clearly

presented including

all criteria outlined

above.

Complete

Answers 0-11 Points Questions

unanswered and/or

poorly answered.

12-23 Points All questions

answered with 1-2

sentence inputs.

24-35 Points

All questions

answered with depth

and clarity.

References to

Course Materials 0-5 Points Less than 3

references, no

assimilation to the

questions.

6-10 Points 3 references,

minimal

assimilation to the

questions.

11-15 Points 4 or more references

and assimilations

show depth and

clarity.

APA Format 0-1 Point Format has errors

that impede

professional

presentation; and/or

APA not followed,

reference page

missing.

2-3 Points APA format and

reference page has

few errors that do

not impede

professional

presentation.

4-5 Points APA format and

reference page is

clear, professional,

and error free.

Writing Quality 0-1 Point More than 7 writing

errors, to include

spelling and

punctuation.

2-3 Points More than 4 writing

errors, to include

spelling and

punctuation.

4-5 Points No writing errors.

Total 100