eco wk2
nikke.teriha
eco365_grading_guide_week2.doc|
Markets and the Economics of the Public Sector Grading Guide ECO/365 Version 10 |
2 |
Individual Assignment: Markets and the Economics of the Public Sector
Purpose of Assignment
In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics—the study of how the allocation of resources affects economic well-being—and will discover that under most circumstances, the equilibrium price and quantity is also the one that maximizes welfare. Students will review different sources of externalities and a variety of potential cures and will see that while markets are usually a good way to organize economic activity, governments can sometimes improve market outcomes. Students will see how the U.S. government raises and spends money and the difficulty of making a tax system both efficient and equitable.
Grading Guide
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Content |
Met |
Partially Met |
Not Met |
Comments: |
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Students explained why equilibrium of supply and demand is desirable. |
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Students explained the concepts of efficiency of markets, costs of taxation, and benefits of international trade using the concept of consumer and producer surplus. |
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Students discussed how externalities may prevent market equilibrium and the various government policies used to remedy the inefficiencies in markets caused by externalities. |
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Students analyzed the difference between the efficiency of a tax system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles. |
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The student cited a minimum of three peer-reviewed sources, not including the textbook. |
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The paper is 1,050 words in length. |
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Total Available |
Total Earned |
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7 |
#/7 |
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Writing Guidelines |
Met |
Partially Met |
Not Met |
Comments: |
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The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. |
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Intellectual property is recognized with in-text citations and a reference page. |
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Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. |
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Sentences are complete, clear, and concise. |
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Rules of grammar and usage are followed including spelling and punctuation. |
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Total Available |
Total Earned |
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3 |
#/3 |
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Assignment Total |
# |
10 |
#/10 |
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Additional comments:
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