Political Economy

Respond to each of the four questions (or prompts) below (each worth 25 points). Your answer to each question should not exceed 600 words (or roughly 2-3 paragraphs). This does not mean that you should write exactly 600 words and stop, expecting an “A” for the answer. It means that you will need to be pithy. Pithiness often requires revisions and rewrites. Shorter answers are welcomed. Your answer will be evaluated on a proper use and understanding of political economy concepts, use of citations, paragraph/sentences structure, and grammar. Please use a standard 12-point font (e.g., Times New Roman, Garamond, Arial). Do not “lock” your file and use that as an excuse for being tardy. Locked files that the teaching associates cannot access will be considered late and assessed the penalties above. In order to test who has done the reading and viewed the lectures, and to incentivize future reading and viewing, each answer must have at least two citations to either the reading material, the pre-recorded lectures, other videos, and/or podcasts (unless otherwise noted). Question 1= QUESTION 1: EVERYONE KNOWS ITS WINDY (25 POINTS) A giant windstorm has just ripped through the Pacific Northwest, cutting power to nearly 500,000 Puget Sound residences and commercial businesses. Given the extent of the damage, repairs will take up to a week to complete (and more in some places).2 Fortunately, many households have backup generators that run on gasoline. However, roughly half of the gas stations cannot run their pumps because of the power outage, and it is difficult to get shipments of gasoline in due to damage to roads in the area. Clearing the roads will be the first priority of recovery workers and most vehicle access will be restored within two days. With reference to at least two readings, podcasts, or lectures, discuss two ways in which gasoline can be rationed to those who need it. Your answer should include a discussion of how the price mechanism operates in a market and what the effect price controls will have on behavior (including the possibility of secondary [black/gray] markets). If price controls are put into place, how might gasoline be rationed?  Question 2= QUESTION 2: THE GREAT ROCK N ROLL WHODUNNIT (25 POINTS) Evaluate the following scenario using at least one political economy concept introduced in the first five weeks of class. Your answer must include at least two references (citations) to the readings, assigned videos, and/or lectures. It is Sunday evening at 10 p.m. and you are feverishly working to complete your POL S 270 midterm essay exam. At 10:05 p.m. the neighbors in the neighboring apartment begin playing their stereo very loud, rocking out to the latest release of AC/DC while you are trying hard to concentrate. You can clearly hear the music through the walls connecting the two units and it is difficult to work. You ask the landlord to tell the neighbors to turn down their stereo, but he refuses to do so. You then call the police to report a disturbance. Although there are no known laws in the area regarding noise, the police talk to the neighbors and get them to turn the stereo down. In evaluating this scenario, your response should address the following: What important political economy concept is at work here? Who is causing this “problem”? What other solutions could have been used to mitigate the problem? Briefly provide one additional example of the central concept at play in this scenario that is not discussed in any of the course readings or lectures. [WARNING: The answer to this question is not as easy as it seems. An “A” answer will shed sunshine (and not throw shadows) on to the deep lesson at work in this scenario.]  question 3= QUESTION 3: MORBID OPTIMALITY (25 POINTS) A political economist friend of Prof. Gill’s recently said, “The optimal number of deaths from the flu is not zero.” (This statement recognizes that illnesses occur exogenously in nature and are not released into the environment by intentional human action.) Evaluate this statement with reference to at least two different readings, lectures, or podcasts in class. Note that you are not required to agree with the above statement. Rather, you are to use the concepts introduced in class to understand why a political economist would say this. Question 4= QUESTION 4: WRITER’S CHOICE (25 POINTS) Choose one of the following concepts below and write a brief essay explaining it to a person who has not taken POL S 270. Use at least two (2) examples to illustrate the concept, one of which may come from the readings, lectures, videos, or podcasts. The other example should not be drawn from the readings, lectures, videos, or podcasts, but rather one that you think to which the concept applies. For this question, you need only cite one (1) reading, lecture, or podcast source from the class. • Moral hazard. • Pooling and separating equilibrium. • Principal-agent problem. • Unintended consequences. • Asymmetric information. • Thick and thin rationality  SOURCES (all books, should be able to find pdf forms)=  1. Winter, H. 2005. “Trade offs: An introduction to Economic Reasoning and Social Issues”. 2nd Edition Chicago: University Press. Chicago Press.  2. Leeson, P. 2009. “The invisible Hook: The hidden Economics of Pirates 3. Anderson,T.L and P.J Hill. 2004. The Not so Wild. Wild west: Property Rights on the Frontier 4. Hirschman, A.O. 1970. Exit. Voice and Loyalty: Responses to Declines in Firms. Organizations and States

Struggling to find relevant content? Order a custom essay on
Political Economy
Let our experts save you the hassle
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Writer did an excellent job! Thank you.
Customer 452693, January 14th, 2022
Thank you for the great job and timely delivery.
Customer 452457, December 18th, 2020
Perfect as usual!!! Thanks team!
Customer 452453, May 26th, 2021
Good mastery of ABA concepts. Excellent!
Customer 452469, May 14th, 2022
Thank you!
Customer 452707, April 3rd, 2022
Customer 452813, June 21st, 2022
Criminal Justice
Looks good! Thank you Jason
Customer 452711, January 25th, 2022
thank you so much for the help, I really appreciate that.
Customer 452725, February 13th, 2022
Customer 452813, June 30th, 2022
Social Work and Human Services
Excellent Work!
Customer 452587, August 24th, 2021
Great writing! Really appreciate your help!
Customer 452503, April 22nd, 2021
Thank you great job
Customer 452813, July 10th, 2022
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
error: Content is protected !!