INFORMATION ON POLICY PAPERS
If you choose this option for your writing assignment, you will be required to write a macroeconomic policy paper. The paper can be on any macroeconomic topic discussed in class (remember, the three major macro issues are unemployment, economic growth and price stability). A policy paper is not a research paper per se. Some research will be required but basically I would like you to write about a topic from your own point of view. This should be your analysis. Don't simply tell me what other economists say. Remember, your audience includes non-economists -- so make sure you explain your arguments carefully and don't use economic jargon that you don't define. Examples are always a good way to explain theories - i.e. tell a story. The public seems to have a romance with numbers, so if there are empirical studies that back up your story, use and cite them.
Topic Suggestions:
1. Compare and contrast two schools of thought on the topic of "tax cuts and economic growth" and then explain why you agree with one school over another.
2. Compare and contrast two schools of thought on the topic of having a large government debt, or if the debt is considered good, what should the government spend money on and why? Or might simply explain why some economists view a large government debt as bad for economic growth.
3. Explain what economic growth is and what factors might help or hinder it.
4. Write an essay on the basic differences between economists: those who believe in Say's law vs. those who don't and the policy implications that follow.
Grade: You will be graded on the strength of your arguments, whether your analysis is logical and follows from your basic assumptions. Including empirical evidence - secondary to your analysis. This is not a research paper per se. Therefore, your paper should include:
a statement of the issue or question you are writing about (what you are trying to accomplish in the paper),
any assumptions you are making,
background information if appropriate,
your analysis of the issue (this should be the longest section in your paper),
empirical evidence (if any),
summary and conclusions,
a list of references.
Paper specifications: Your paper should be between 1100-1300 words (not including any graphs or charts you want to include). Please use 12 point font and double space. You should include footnotes or endnotes and complete citations to any references you use (including web page references).
Extra Credit Opportunity (Optional): You will have the option of presenting your paper to the class for 6 extra credit points. Don't simply read your paper, simply tell the class what you wrote about and talk about your analysis and conclusions. Your presentation should not last more than 8 minutes followed by questions/discussion. We will leave time the last week of class (depending upon how many people want to do it). Please let me know if you want to or not.