Economics is the study of how individuals make choices under scarcity and is a powerful set of tools for helping to explain the world around us.

Signature Assignment
Final Paper Due 11:59 PM August 12th, 2022
Economics is the study of how individuals make choices under scarcity and is a powerful set of tools for helping to explain the world around us. For the Signature assignment you are expected to formulate a thesis related to economics and defend it in 1-2 double typed pages.
There are two options for the paper:
Option 1: Economic Naturalist
Specifically, please choose a puzzle about the world around us, and then use at least one concept from the class to answer that question.
You should look around for phenomenon in the world around us. You should look for puzzles all around you: in stores, on-line, in newspapers, and at work.
Examples of questions (do not necessarily use these):
(1)Why do Honey Crisp apples cost more than gala apples?
(2) Why has Major League Baseball (MLB) attendance decreased significantly in recent years?
(3) Why is consumption of cow’s milk decreasing?
(4) Why do men’s professional soccer players earn more than women’s professional soccer players?
If you choose option 1, please choose your own question. For the question that you choose, please make sure that the answer to the mystery is not obvious- if it is then it is not much of a puzzle. You will want to choose a question in which you can answer and make a compelling argument in 1-2 double spaced pages. (This should correspond to approximately 450-900 words.)
Please clearly describe the puzzle in the first paragraph. Please feel free to include sufficient details of the puzzle, so that it is adequately described. Clearly state your thesis, which should provide your basic answer to the question. Use the rest of the paper to defend your thesis. Also, please use at least one reference: multiple references are preferred. Please us APA format for citations. Please e-mail me or talk to me in class/office hours with any questions about the paper.
Option 2: Policy Analysis
Formulate a economic policy question to answer or analyze an existing policy. Your analysis could be strictly positive or could also be normative.
Examples of question:
Is the minimum wage the most efficient mechanism for transferring income to low and moderate-income Americans?
Should state governments enact anti-spiking laws? And if so what structure should they take, and how stringent should they be?
Try to find a question or topic that you find interesting but does not have an obvious solution. Clearly define the policy or policy problem. It is also alright if your solution or analysis depends on various states of the world or would depend on data that is not readily available.
Your paper should be 1-2 double spaced pages. (This should correspond to 450-900 words.) Please clearly describe the policy (or proposed policy) you are analyzing in in detail. Clearly state your policy question, then clearly state your thesis, which should provide your basic answer to the question. Use the rest of the paper to defend your thesis. Also, please use at least one reference: multiple references are preferred. Please us APA format for citations. Please e-mail me or talk to me in class/office hours with any questions about the paper.
Part I (Optional)
If you would like optional feed-back, please formulate at least 1 potential paper idea from the options above. (You can submit multiple ideas- and request feedback.) Please include the question/puzzle, and at least one or two sentences about how you plan to approach the paper. Please submit your paper idea by July 28th via BlackBoard. (This date has been extended from July 26th.) This is purely optional.
Part II
Please submit the final paper via BlackBoard by 11:59 PM August 12th, 2022