Robert Frank the author of your microeconomics text admonishes his students and readers to become “economic naturalists,” observing economic phenomena in the same way that a naturalist observes nature and asking questions such as “Why did this happen the way it did?” Find some economic phenomenon, pose a question about it that you think is interesting, then try to answer that question the best you can using the theories we have developed in the class.
text;Microeconomics and Behavior 7th edition by Robert H. Frank, McGraw-Hill/Irwin
The ideal place to find interesting phenomena to analyze is in your own experiences. Alternatively, you may use phenomena that are described in newspapers or other places. In your analysis, you must use tools that we have learnt and not simply restrict yourself to analytical tools discussed in Principles of Economics. T
You should submit a essay consisting of three parts:
• Facts. Summarize the phenomenon you are looking at in as much detail as necessary. If you are relying on published sources for your information, you should include a hard copy of this source(s) along with your assignment.
• Question. Pose as clearly as possible the question that the facts about this phenomenon raise in your mind.
• Analysis. Use the theoretical materials of Economics
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