Economics 302 Quiz 2

Economic Naturalist Assignment

Due December 4, 2017

Robert Frank, a Cornell labor economist and author of the text assigned to this class, tells students to become "economic naturalists," through observing economic phenomena in the same way that a naturalist observes nature and asking questions such as "Why did this happen the way it did?"

In this assignment, you are to play economic naturalist and find some economic phenomenon, pose a question about it that you think is interesting, then try to answer that question the best you can using the theories we have developed in the class.

Suggestions

The ideal place to find interesting phenomena to analyze is in your own experiences, either here at Loyola or elsewhere. You may also consult the various news sources on the internet, particularly current events. Perhaps following some of the political rhetoric will give you some ideas. Try to keep your question (s) simple and intuitive.

Written Assignment

You should submit a short essay (no more than 750 words) consisting of three parts:

Facts. Summarize the phenomenon you are looking at in as much detail as necessary.

Question. Pose as clearly as possible the question that the facts about this phenomenon raises in your mind.

Analysis. Use the theoretical materials of Econ 302 to attempt to answer the question.

Essays may be submitted in written form and will not be accepted electronically.