Microeconomics Term paper

This writing is expected to be equivalent to 12-14 doubled-spaced typed pages, in the form of a term paper, summaries of journal articles, short research papers, and/or other kinds of writing.

The following is a suggested guideline.

1. The term paper must be related to this course (economics), and must be based on some established information and principles. These facts and principles could be controversial and can even be something not usually accepted by the learned society or even common sense, but has to be more than something which is purely based on your own creativity. Creativity is of course, not discouraged, and you can use your creativity and logic to show why some established information or principle might be wrong, or even should be wrong. That would be wonderful. In finance, that’s how some contrarians become reachn (e.g., buy stocks when they are cheap because others do not realize their value). In many field, they could earn you Nobel prizes or even make you immortal, for example, Galileo and Einstein.

2. It is absolutely important that no two terms papers should be so similar even if great minds sometimes think alike.

3. A possible procedure to write your term paper may one which I modified from an old IRAC rule when I was a first semester law student. I call our procedure the IPAC, which standard for Information, Principles, Application, and Conclusion.

A. I stands for information, which must be from a published source (newspaper, book, internet, textbook, or ??), and for which you can find some relation with economic matters.

B. P stands for principle(s). What is the principle or principles which one should follow on matters related to the information in A. You need to state where can one find that principle. “It kis well known” is not enough, but statements from any published source (see A above) is good. You need to cite the source, and should be able to include a photocopy of that source. (It could be in any language, if a translation into English is also included.)

C. A stands for application. How can we apply the principles in B to the information in A? In your opinion, what are some possible of the possible actions one way or another?

D. C stands for conclusion and possibly also recommendation.


I. In the Doorstreet Journal, there is a human interest article about an old Phinese man by the name Luap Fang. He lost most of his savings, and his employer went bankrupt and will not be able to gtve him the retirement pension he was counting on, etc. etc. (You need to cite the source, and enclosed a photocopy of the article or a printout if you found the info on the internet).
P. Next, you need to think what might be some economically related principles. It would be nice if the priniciples are stated in some economics or financial book, but any verifiable source will do. For example, how to find a somewhat better job and the prospect for an older person to find a new job are reported in many places., and you can select one or more of these. A second example, government has both unemployment, pension benefit guarantee, take social security at an earlier age, welfare, etc., and you can cite the sources and discuss them. Another example, perhaps Luap Fang decided to gamble and buy lotto tickets. What are the mathematically principles about lotteries? Lastly, in addition to many other possible aspects and principles, how about some religious ones. If Luap Fang was brought up a s Taoist believer,what are some of the principles and what economic implications may there be? What is Luap Fang is a believer of the teachings of St. Luke (VI. 24-26), what are some economic implications?

A. Whichever principle(s) you choose (not all of them), how would the principle(s) apply to the information you found?
D. Now the conclusion, what should Luap Fand do? What are some of the consequences or chances of success or failure?