At this point in the course, you have encountered many theories, ideas, and authors. This short essay is your opportunity to apply one or more course concepts to a real-world situation, current or past. Please read all documents that I have uploaded and find any reputable sources online.
You are to choose the economic system of ONE country (any country is fine) and one or more ideas that you have encountered in the readings. Your task is to put these two elements in conversation with one another. Questions you can consider are as follows:
1. How does the course material help you better understand the economic situation?
2. How does your observation about your selected country help you better understand a given theory?
3. How might what you are observing cause you to revise/critique one of the concepts addressed in the course?
4. Does Marx’s theory of capitalism continue to have adequate explanatory relevance in today’s globalized world? If so, why? If not, what are some possible alternatives/revisions?
5. The idea of “rationality” is central to a neoclassical theory of economics. It’s assumed that consumers behave rationally in their purchases. It’s also assumed the “firm” behaves rationally in that it ultimately seeks to maximize profits. Is rationality at the center of how markets behave? Why or why not? Provide examples that support or contradict the above assumption.
*Give considerable thought to what you select, as you will be given the option of building upon these ideas for your second short essay and the final essay. Of course, you are more than welcome to choose different topics for each.
Essay Structure:
You should have a clearly defined beginning, middle, and end. Although I will not place too many restrictions on the essay structure, at minimum, you should include the following:
An introduction that presents a clearly-defined argument and a snapshot of the remainder of the essay.
Supporting paragraphs with evidence and analysis. The second part is key. Do not simply include details, with no analysis.
Internal citations, MLA format
A minimum of FIVE reputable sources (e.g. journal articles, books)
A conclusion
The document should adhere to the following guidelines:
3 pages double-spaced
Works Cited (also, not included in the 3 pages), MLA format
Times New Roman font
1-inch margins on all sides
Page numbers (with the exception of the cover page) at the bottom-center of each page.
Grading Criteria
30%–Your adherence to all above instructions
40%–Clarity and analytical sophistication
30%–Writing mechanics: grammar, syntax, spelling, etc.
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