ECO 201 Presentation Requirements

ECO 201 Presentation ● Prepare a written presentation. (Consider the tips for PowerPoint Presentation ). I highly recommend a free application Express Adobe: Webpage, or Video . You can definitely use different presentation software. ● Submissions must be individual. ● Answers cannot be identical. ● Take a look at the final presentation requirements listed below: include at least 30 slides. ● Choose one topic (macroeconomic problem) from the list below. You may write on a topic of your choice. You may pick one section (chapter) from the first project, and explore it in more detail. ● In your presentation, introduce the problem. Explain why the question is significant and important. Analyze the problem, propose solutions, and evaluate the results. It can be presented as a debate. For example, “Two Sides of the Issue: …”. Provide examples to illustrate the case. ● Important: Use relevant economic terms and models you learned in class to present and evaluate the problem. ● It is not enough to summarize the literature. ● AI is a tool, but one that you need to acknowledge using. Please include a paragraph at the end of any assignment that uses AI explaining what you used the AI for and what prompts you used to get the results. Failure to do so is in violation of academic honesty policies. Example of attribution language: “The author generated this text in part with GPT-3, OpenAI’s large-scale language-generation model. Upon generating draft language, the author reviewed, edited, and revised the language to their own liking and takes ultimate responsibility for the content of 1

ECO 201 Presentation this publication.” Can I use AI? It is possible to collaborate with AI and use it as an editor. If you do then you need to acknowledge using AI. Failure to do so is in violation of academic honesty policies. It is important to remember that AI does not perform economic analysis. ChatGPT can be used to edit your work, but it lacks critical thinking capabilities. There is no intelligence in artificial intelligence. AI is a language model without any understanding or intent. It's therefore vital to review and edit AI-generated content manually. AI Limitations 1. The AI can produce results that appear insightful and helpful, but can also make up "facts" that sound entirely credible. This means that the answers may be incomplete, incorrect, or non-existent. The mistakes are most common when asking for quotes, sources, citations, or other detailed information. Do not trust any citations or sources without checking them yourself. 2

ECO 201 Presentation Additionally, governments can allocate resources efficiently and prioritize projects based on societal benefits, as they have the authority and capacity to undertake large-scale infrastructure initiatives that may not be feasible for individual private entities. In terms of economic analysis, AI fails completely. Let us answer the following questions: 1. Discuss the MB (Marginal Benefits) and MC (Marginal Cost) of government personnel involved in the construction of public roads. Rational Individuals, including government workers, make decisions based on their private marginal benefit (PMB) and private marginal cost (PMC). Government personnel involved in road construction also take into account factors such as their personal salaries, benefits, and the time and effort they dedicate to the project. In situations where public roads fail to meet consumer expectations, government workers do not face income loss. Additionally, if the costs of a road project outweigh the benefits, the government is not at risk of going bankrupt. Given these circumstances, the government lacks direct incentives to prioritize delivering high-quality work within the shortest possible timeframe. Furthermore, there is limited individual accountability for the government towards taxpayers who fund the project. Therefore, the outcome is always inefficient. Additional sources: Market Failures, Public Goods, and Externalities - Econlib 4

ECO 201 Presentation 2. Discuss the MB and MC of private companies responsible for constructing roads funded through private investors. Private companies involved in road construction seek to generate profits from their investments. The quality of their work directly affects their marginal benefit (profit ). The company will lose income if it fails to provide efficient results. Private companies bear the financial risks associated with the road construction project. They must manage potential fluctuations in costs, revenues, and market conditions that may impact the project's profitability. Private companies must meet the expectations of their investors in terms of financial returns and project success. This may lead to additional pressure to ensure the project is completed on time, within budget, and meets performance targets. 5

ECO 201 Presentation (Recommended Sources: ● Chapter 7 notes, ● Course project “Immigration”, ● 4 myths about how immigrants affect the U.S. economy , ● Do immigrants steal” jobs from American workers? ) 5. What system promotes and protects individual rights more effectively, capitalism or socialism? Why? (use the concepts of productive efficiency, rational decisions, productivity, and economic efficiency) Socialism -- all legal production and distribution decisions are made by the government, and individuals rely on the state for everything from food to healthcare. The government determines the output and pricing levels of these goods and services. (Recommended Sources: Class Notes on Economic Freedoms) 6. Provide arguments for and against fighting recession with expansionary fiscal policy. First, explain the meaning of the terms recession and expansionary fiscal policy . Use the model of aggregate demand and aggregate supply to illustrate your answer. Mention the model of national saving and investment and the crowding-out effect of a budget deficit. (See Chapter 16 notes) 7. Provide arguments for and against fighting recession with expansionary monetary policy. First, explain the meaning of the terms recession and expansionary monetary policy . Use the models of money demand and money supply, aggregate demand, and aggregate supply to illustrate your answer. Discuss monetary policy tools. (See Chapter 16 notes) 8. The future of money and the monetary system. Digital dollar. 7

ECO 201 Presentation (Recommended Sources: ● THE FUTURE OF MONEY: DIGITAL CURRENCY HEARING COMMITTEE ON FINANCIAL SERVICES US HOUSE OF REPRESENTATIVES , ● The evolution of money ● The Threat of a Digitized Currency ● Speech by Governor Waller on central bank digital currency ● The future of money: The end of cash and the rise of digital currencies ● The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance ● Money and Payments: The U.S. Dollar in the Age of Digital Transformation 9. Freedoms in the United States. (Recommended Sources: ● Economic Freedoms Notes ● https://podcasts.apple.com/us/podcast/the-libertarian-institute-all-podcasts/id1173626436 ?i=1000521492328 , ● https://podcasts.apple.com/us/podcast/the-libertarian-institute-all-podcasts/id1173626436 ?i=1000524209455 ● The Origin of the Income Tax | Mises Institute ● A Libertarian Pandemic Policy | Learn Liberty , ● The New Road to Serfdom , ● Battlefield America: The War On The American People (9781590793091): Whitehead, John W.: Books ) 8

ECO 201 Presentation your final presentation will be graded on the following criteria. Economic Thinking 1. All relevant economic concepts are fully integrated into the discussion. 2. Positive economic analysis is applied. Economic strategies and policies are evaluated, and solutions are proposed and fully analyzed. 3. Information is synthesized from multiple and credible sources. 4. Statements are convincing and target the proposed audience. 5. The central message is compelling (precisely stated, appropriately repeated, and strongly supported.) 6. The intended audience would learn something from the project and find it valuable. Points: (.../4)_____________ Clarity and Organization 1. Proper citations are inserted within the paper. 2. Acknowledges all image and multimedia sources with captions and annotations. 3. A reference section is complete. 4. AI is a tool, but one that you need to acknowledge using. Please include a paragraph at the end of any assignment that uses AI explaining what you used the AI for and what prompts you used to get the results. Failure to do so is in violation of academic honesty policies. 5. The sequence of information is logical and intuitive, paths to all information are clear and direct. 6. Posts are visually appealing : Format, use of fonts, and highlighting is appropriate and enhances the readability of the paper. 7. The project runs perfectly with no technical problems, i.e.there are no error messages, all sound, video, or other files are found. 8. The presentation (if you use PowerPoint) includes at least thirty (30) slides with relevant and concise information. 9. All graphics, video, audio, and other sources are used effectively to enrich the learning experience. 10

ECO 201 Presentation 10. A title is included. 11. Includes a short introduction and a conclusion . Points: (.../4)_____________ Reminder Academic Integrity: Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton’s Code of Academic Conduct. This code prohibits: ● cheating, ● plagiarism (turning in work not written by you, or lacking proper citation), Assignments may be submitted using Turnitin suite of tools that provide instructors with information about the authenticity of submitted work, ● falsification and fabrication (lying or distorting the truth), ● helping others to cheat, ● unauthorized changes on official documents, ● pretending to be someone else or having someone else pretend to be you, ● making or accepting bribes, special favors, or threats, and ● any other behavior that violates academic integrity. There are serious consequences to violations of the academic integrity policy. Oakton’s policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is a failure on the assignment and a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years. Please review the Code of Academic Conduct and the Code of Student Conduct, both located online at www.oakton.edu/studentlife/student-handbook.pdf . 11