GCU ADM614 Full Course

ADM 614 Economics for Public Administrators

Week 1 Discussion

DQ1 The economic way of thinking requires administrators to incorporate eight principles. One of the principles relates to “tradeoffs” and another principle relates to “opportunity costs” for scarce resources. Describe how public administrators must make trade-offs by assessing opportunity costs relating to scarce resources.

DQ2 Explain how scarcity and poverty are different. Give examples to support your reasoning.

ADM 614 Economics for Public Administrators

Week 2 Discussion

DQ1 Assess discrepancies between public budgets and public needs. Explain the relationship between the public budget and the demand for public goods.

DQ2 Markets and government both allocate scarce resources. Please explain how government adjusts market outcomes though subsidies and whether Pareto efficiencies are achieved. Discuss the role of subsidies in the Affordable Care Act as explained in the assigned article “How Millionaires Get Obamacare Subsidies Intended to Aid the Poor” by Managan.

ADM 614 Economics for Public Administrators

Week 3 Discussion

DQ1 Explain the difference between government failure and market failure. Discuss the role of government in a market economy to address market failure.

DQ2 Economic efficiency is how economists assess the desirability of outcomes. Discuss the two requirements for efficiency in a market economy.

ADM 614 Economics for Public Administrators

Week 4 Discussion

DQ1 Monopolies are good for producers but not consumers. Differentiate between the positive and negative impacts of monopolies on the economy. Discuss why or why not monopolies are bad for the economy?

DQ2 Compare and contrast the three types of unemployment. Discuss how these three types of unemployment demystify a common myth that “unemployment would not exist if the economy were operating efficiently.”

ADM 614 Economics for Public Administrators

Week 5 Discussion

DQ1 Discuss the circular flow of money and income through the four basic markets of (a) goods and services, (b) resource markets, (c) loanable fund, and (d) foreign exchange. Identify a key factor related to the flow of money and income in two of the four identified markets.

DQ2 Read special Topic 5 (page 610) regarding the market crisis of 2008. Explain what caused the recession. Discuss how the economy reacted to the 2008 market crisis and continues to react to its impacts. Explain how you might prevent this type of problem from reoccurring. Support your response with research.

ADM 614 Economics for Public Administrators

Week 6 Discussion

DQ1 Explain what a budget deficit is. Describe how under the Keynesian model budget deficits increase aggregate demand.

DQ2 Evaluate whether or not fiscal stimulus will increase or decrease economic recovery. Explain

ADM 614 Economics for Public Administrators

Week 7 Discussion

DQ1 Choose an instance from the past 100 years of U.S. history where a change in the supply of money effected the economy. Explain how it was affected, including how U.S. monetary policy and the banking system were affected.

DQ2 As a monetarist, Milton Freidman suggested that the government should only release the amount of money into the economy that matches the GDP production. Discuss how the entire demand curve for money will adjust to the equilibrium point. Would you agree with Milton Freidman’s opinion on the ability of monetary policy to address economic problems? Explain your rationale.

ADM 614 Economics for Public Administrators

Week 8 Discussion

DQ1 Discuss what institutions and government policies promote economic growth. Explain how these institutions incentivize economic activity.

DQ2 Income transfers were developed as a part of Lyndon B. Johnson’s war on poverty. Define income transfers. How should traditional income transfers eliminate incidence of poverty? Does it work? Explain.

ADM 614 Economics for Public Administrators

Week 1 Assignment

Private Ownership and Markets

Details:

Read the case study on page 27 “Protecting Endangered Species with Private Property Rights.” Write an essay 1,000-1,250 words, answering the following questions:

Economists argue that scarcity is different than poverty. To understand why many wild animals are scarce we need to look at scarcity in the context of private property. Explain how scarcity is affected by private property rights in the case study.

Compare and contrast how incentives accompanying private property rights can both help protect and endanger the rhino, an endangered species.

Be sure to cite at least three relevant scholarly sources in support of your content. These sources can include trade journals and think tank reports. Use only sources found at the GCU Library or those provided in Topic Materials.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.

You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.

ADM 614 Economics for Public Administrators

Week 2 Assignment

Supply and Demand

Details:

Create a PowerPoint presentation of 12-15 slides (not including the title and reference slides) discussing supply and demand in the public sector. Include the following:

Choose an economist discussed in Chapters 3-4 and explain that philosopher’s market theory.

Explain demand theory. Discuss factors that cause changes in demand and quantity demanded.

Explain supply theory. Discuss factors that cause changes in supply and quantity supplied.

How do changes in supply and demand effect market price and quantity?

Explain the implications of tax on both supply and demand.

Discuss the black market and government’s response. How do the laws create higher risks for suppliers? Explain.

Be sure to include graphs, charts and other visuals in your presentation that will enhance your analysis. Include slide notes containing explanations and rationale.

Be sure to cite three to five relevant scholarly sources in support of your content. Use only scholarly sources found in the GCU Library or those provided in Topic Materials.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

While APA Style format is not required for the body of this assignment, solid academic writing is expected, and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.

ADM 614 Economics for Public Administrators

Week 3 Assignment

Government in the Economy

Details:

Write an essay of 1,000-1,250 words regarding public goods. Include the following:

Explain what a public good is.

Discuss how a public good is different than a private good.

Discuss whether only government can supply a public good.

What are the challenges related to public goods.

How should the “free rider” problems be addressed?

Be sure to cite at least three relevant scholarly sources in support of your content. These sources can include trade journals and think tank reports. Use only sources found at the GCU Library or those provided in Topic Materials.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.

You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.

ADM 614 Economics for Public Administrators

Week 4 Assignment

Economic Growth and Market Dynamics

Details:

Create a PowerPoint presentation of 12-15 slides (not including the title and reference slides) discussing Economic Growth and Market Dynamics. Include the following:

What is GDP and how is it measured?

Evaluate the validity of using GDP as a measure of economic output.

Explain how the consumer price index and GDP work together to measure price index change from year to year.

Assess the importance of the business cycle relating to the labor market and economic activity.

Select one formula for a key labor market indicator and give an example. Use the formula to explain how the labor market indicator measures labor force participation.

Be sure to include graphs, charts and other visuals in your presentation that will enhance your analysis. Include slide notes containing explanations and rationale.

Be sure to cite three to five relevant scholarly sources in support of your content. Use only scholarly sources found in the GCU Library or those provided in Topic Materials.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

While APA Style format is not required for the body of this assignment, solid academic writing is expected, and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.

ADM 614 Economics for Public Administrators

Week 6 Assignment

The Impact of Economic Policy on the Market

Details:

Write an essay 1,000-1,250 words regarding the impact of Economic policy on the Market. Include the following:

Choose three government policies that were implemented since the 1970’s to remedy an economic crisis. Evaluate the policies’ effectiveness.

Explain how the Keynesian model of economics was applied to the economic crises of the 1970’s. Was it effective? Explain.

Explain how government creates demand to correct market failure in order to address welfare policies. Provide an example and explain your rationale.

Be sure to cite at least three relevant scholarly sources in support of your content. These sources can include trade journals and think tank reports. Use only sources found at the GCU Library or those provided in Topic Materials.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.

You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.

ADM 614 Economics for Public Administrators

Week 8 Assignment

The Future of the Public Sector of the Economy

Details:

Create a PowerPoint presentation of 12-15 slides (not including the title and reference slides) discussing the future of the Public sector of the Economy. Include the following:

Explain economist Paul North’s institutional theory as a model for economic reform.

Discuss how institutions promote growth based on Douglass North’s theory.

Discuss how institutions such as the rule of law, competitive markets, stable money and prices, and regulation are sources of economic growth.

Looking forward, which institutions or polices do you think will promote economic growth in the future?

How will economic inequality and poverty challenge economic growth in the future?

Be sure to include graphs, charts and other visuals in your presentation that will enhance your analysis. Include slide notes containing explanations and rationale.

Be sure to cite three to five relevant scholarly sources in support of your content. Use only scholarly sources found in the GCU Library or those provided in Topic Materials.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

While APA Style format is not required for the body of this assignment, solid academic writing is expected, and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.