Category Archives: ADM 614

ADM 614 Topic 1 Discussion 1 Tradeoffs updated

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ADM 614 Topic 1 Discussion 1 Tradeoffs updated

The economic way of thinking requires administrators to incorporate eight principles. One of the principles relates to “tradeoffs” and another principle relates to “opportunity costs” for scarce resources. Describe how public administrators must make trade-offs by assessing opportunity costs relating to scarce resources.

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ADM 614 Topic 1 Discussion 2 Scarcity And Poverty updated

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ADM 614 Topic 1 Discussion 2 Scarcity And Poverty updated

The economic way of thinking requires administrators to incorporate eight principles. One of the principles relates to “tradeoffs” and another principle relates to “opportunity costs” for scarce resources. Describe how public administrators must make trade-offs by assessing opportunity costs relating to scarce resources.

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ADM 614 Topic 2 Discussion 1 Public Budgets And Public Needs updated

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ADM 614 Topic 2 Discussion 1 Public Budgets And Public Needs updated

Assess discrepancies between public budgets and public needs. Explain the relationship between the public budget and the demand for public goods.

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ADM 614 Topic 2 Discussion 2 Scarce Resources updated

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ADM 614 Topic 2 Discussion 2 Scarce Resources updated

Markets and government both allocate scarce resources. Please explain how government adjusts market outcomes though subsidies and whether Pareto efficiencies are achieved. Discuss the role of subsidies in the Affordable Care Act as explained in the assigned article “How Millionaires Get Obamacare Subsidies Intended to Aid the Poor” by Managan

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ADM 614 Topic 3 Discussion 1 Government Failure And Market Failure updated

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ADM 614 Topic 3 Discussion 1 Government Failure And Market Failure updated

Explain the difference between government failure and market failure. Discuss the role of government in a market economy to address market failure.

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ADM 614 Topic 3 Discussion 2 Economic Efficiency updated

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ADM 614 Topic 3 Discussion 2 Economic Efficiency updated

Economic efficiency is how economists assess the desirability of outcomes. Discuss the two requirements for efficiency in a market economy.

 

ADM 614 Topic 4 Discussion 1 Impacts Of Monopolies On The Economy updated

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ADM 614 Topic 4 Discussion 1 Impacts Of Monopolies On The Economy updated

Monopolies are good for producers but not consumers. Differentiate between the positive and negative impacts of monopolies on the economy. Discuss why or why not monopolies are bad for the economy?

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ADM 614 Topic 4 Discussion 2 Three Types Of Unemployment updated

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ADM 614 Topic 4 Discussion 2 Three Types Of Unemployment updated

Compare and contrast the three types of unemployment. Discuss how these three types of unemployment demystify a common myth that “unemployment would not exist if the economy were operating efficiently.”

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ADM 614 Topic 5 Discussion 1 Flow Of Money And Income updated

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ADM 614 Topic 5 Discussion 1 Flow Of Money And Income updated

Discuss the circular flow of money and income through the four basic markets of (a) goods and services, (b) resource markets, (c) loanable fund, and (d) foreign exchange. Identify a key factor related to the flow of money and income in two of the four identified markets.

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ADM 614 Topic 5 Discussion 2 Market Crisis updated

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ADM 614 Topic 5 Discussion 2 Market Crisis updated

Read special Topic 5 (page 610) regarding the market crisis of 2008. Explain what caused the recession. Discuss how the economy reacted to the 2008 market crisis and continues to react to its impacts. Explain how you might prevent this type of problem from reoccurring. Support your response with research.

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