Economics Why Nations Fail the Origins of Power Book Review

Economics Why Nations Fail the Origins of Power Book Review

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Economics Why Nations Fail the Origins of Power Book Review

Marginal & Functional Cost Worksheet

Amy sells cheesecakes in a perfectly competitive market. The cost function of her firm is: TC= 0.2Q^2 +4Q+15.

1. a) Identify the total fixed cost (TFC), marginal cost (MC), and average variable cost (AVC) of Amy’s firm.
2. b) Assume that the equilibrium price in the market is P=60. Calculate the firm’s profit (or loss) and its optimal quantity of production for maximizing its profit. Discuss whether Amy’s firm will remain in the market or leave the market in the short run.
3. c) The market price for cheesecakes has been decreasing as new cheesecake sellers enter the market. Predict the price level at which Amy’s firm will stop producing cheesecakes in the short run. Estimate this firm’s short-run supply function which should be expressed in the form of Q = a+bP where a and b are constants.

Economics Why Nations Fail the Origins of Power Book Review

 

research and select a book that deals with one of the “Development” issues covered in class. The selected book must not be a      textbook. Please see the last page for guidelines. Due date is indicated      in the course outline below.

A full book review      may concern only one book. It should      give readers an engaging, informative, and critical discussion of the      work. The review should follow the Guidelines below.

Your book report      must be on a book, it cannot be on an article, report, etc. And of course,     this book must be related to this course.

For those of you      who are having trouble finding books, here are some suggestions:

White Man’s Burden – William Easterly

Poor Economics – Banerjee and Duflo

Good Economics for Hard Times – Banerjee

The Bottom Billion – Paul Collier

Why Nations Fail – Daron Acemoglu

Dead Aid – Dambisa Moyo

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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