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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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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