How do Subsidies Impact Consumer and Producer Behavior

One goal of this class is for you to become more “economically literate”, meaning you should be able to read and understand news articles that are related to microeconomic issues / economic thinking.
• 6 to 8-page requirement (not including title paper or reference page) (abstract is NOT REQUIRED).
• At least two scholarly journal articles and 3 to 4 news articles as references (submit PDF copies of scholarly journal articles).
• Papers must be submitted in American Psychological Association (APA) 7th-edition style
• Must meet due date.

This needs to be an in-depth paper. For instance, let’s say you write about “how do taxes affect consumer behavior.” A simple answer could be given within a page or two. However, a thorough research paper will be able to explain economic behavior in the economy from the course textbook. This challenges the student to gather sources from a variety of areas and examine this area in-depth.
Here’s a suggested outline to guide the research paper:

  1. Introduction (0.5 page)
    o Introduce the topic, explaining the importance of understanding the impact of taxes on consumer behavior.
    o State the research question: How do taxes affect consumer behavior?
    o Provide a brief overview of the paper’s structure.
  2. Theoretical background (2 pages)
    o Define key terms and concepts, such as taxes, consumer behavior, and microeconomics.
    o Discuss the main economic theories related to taxes and consumer behavior, such as: a. The law of demand b. The substitution and income effects c. Elasticity of demand d. Deadweight loss and excess burden
    o Explain how these concepts and theories can help understand the relationship between taxes and consumer behavior.
  3. Types of taxes and their impact on consumer behavior (2 pages)
    o Describe different types of taxes that affect consumers, such as sales taxes, excise taxes, value-added taxes, and income taxes.
    o Explain how each type of tax affects consumer behavior, providing examples and discussing potential variations among consumers with different preferences, incomes, or in different markets.
    o Discuss the concept of tax incidence and how the burden of taxes is distributed between consumers and producers.
  4. Empirical evidence and real-world examples (1.5 pages)
    o Present empirical studies and data that support or challenge the theoretical predictions on the impact of taxes on consumer behavior.
    o Provide real-world examples of tax policies or changes that have influenced consumer behavior, both positively and negatively.
    o Discuss any limitations or controversies surrounding the existing evidence.
  5. Policy implications and recommendations (1 page)
    o Discuss the implications of the findings for policymakers and the design of tax policies.
    o Provide recommendations for future tax policies, considering the impact on consumer behavior and overall welfare.
  6. Conclusion (0.5 page)
    o Summarize the main points of the paper, emphasizing the relationship between taxes and consumer behavior.
    o Address the research question, highlighting the key findings.
    o Suggest areas for future research, acknowledging any limitations or gaps in the current literature.

Throughout the paper, the student should use appropriate citations and maintain a clear, concise writing style. Proofreading and editing will help ensure the final paper is well-organized and free of errors.

• The professor stresses no use of Artificial Intelligence… They perform checks to find AI use and it will receive a 0 if found
• The textbook we use is Microeconomics 22nd Edition by Campbell R. McConnell
• If you have any questions about anything at all, at any time – please let me know!

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