What are the human behaviors economists should observe when creating economic models?

Provide a detailed paragraph for the topic below in the order instruction section also provide another very detailed paragraph for the document that uploaded

Economic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior.

Economists assume that individuals make rational decisions. However real people are more complex.

Based on what you have learned in your assigned reading, answer the following questions in your initial post:

What are the human behaviors economists should observe when creating economic models? Example: people tend to find solutions that are good enough, but not the best solutions.

In your responses, comment on at least two of your peers’ posts and share example of how non-rational human behavior can change an economic outcome.

And provide a reference for each paragraph.

Describe how government intervention affects the supply and demand equilibrium.

Module Four Simulation Checkpoint Assignment Guidelines and Rubric

Overview

This simulation checkpoint assignment directly supports your success on the course project. You will play the simulation games, create the image file of your simulation report,and discuss learned concepts and experiences in your submission.

Directions

For this assignment, first play the simula!on games Externali!es Without Policy Interventions and Externalities With Policy Interventions in the MindTap environment. Then you will report your experiences playing those games. Your work in this assignment will directly support your success on the course project.

In your submission, remember to include the images of your simulation reports. See the How to Submit a Simulation Report Image document for more information. Then, reflect on the decisions you made in the simulation and address the following government intervention options in your submission:

Government Tools: Discuss tools available to the government to correct a market failure. Provide examples from the textbook.

Supply and Demand Equilibrium: Describe how government intervention affects the supply and demand equilibrium. Refer to the simulation game to explain your responses.

Consumer or Producer Surplus: Specify which government interven!ons cause a consumer or producer surplus. Explain how they impact consumer or produce surplus. Provide examples from the textbook.

Guidelines for Submission
Submit your assignment as a Word document. Use Section 2 of the Final Project Template

Draw the extensive form of this principal-agent problem and use backward induction to solve for the Nash Equilibrium.

Michael wants to rent out a flat from Susan. Michael has a big passion for art and enjoys drawing, so much that he often draws on any surface he can find, including walls.
Michael’s receives £400 in utility from being able to draw on the walls of the flat, whereas Susan would like the walls to remain clean.

If Michael draws on the walls, it will cost Susan £700 to have the walls repainted. Thus, Susan is considering charging Michael a damage deposit of £700. (10 marks)

Explain why this situation could be considered a principal-agent problem. (5 mark

Draw the extensive form of this principal-agent problem and use backward induction to solve for the Nash Equilibrium. (5 marks)

Where in the process is the bill currently? Is it in hearings or committees?

The Assignment: (1- to 2-page Legislation Grid; 1-page Legislation Testimony/Advocacy Statement)
Be sure to add a title page, an introduction, purpose statement, and a conclusion. This is an APA paper.

Part 1: Legislation Grid

Based on the health-related bill (proposed, not enacted) you selected, complete the Legislation Grid Template. Be sure to address the following:
Determine the legislative intent of the bill you have reviewed.
Identify the proponents/opponents of the bill.
Identify the target populations addressed by the bill.
Where in the process is the bill currently? Is it in hearings or committees?

Part 2: Legislation Testimony/Advocacy Statement

Based on the health-related bill you selected, develop a 1-page Legislation Testimony/Advocacy Statement that addresses the following:
Advocate a position for the bill you selected and write testimony in support of your position.
Describe how you would address the opponent to your position. Be specific and provide examples.
At least 2 outside resources and 2-3 course specific resources are used.

Explain how ethical considerations may impact your treatment plan and communication with patients.

The Assignment: 5 pages

Examine Case Study: An African American Child Suffering From Depression. You will be asked to make three decisions concerning the medication to prescribe to this patient. Be sure to consider factors that might impact the patient’s pharmacokinetic and pharmacodynamic processes.
At each decision point, you should evaluate all options before selecting your decision and moving throughout the exercise. Before you make your decision, make sure that you have researched each option and that you evaluate the decision that you will select. Be sure to research each option using the primary literature.
Introduction to the case (1 page)
Briefly explain and summarize the case for this Assignment. Be sure to include the specific patient factors that may impact your decision making when prescribing medication for this patient.

Decision #1 (1 page)
Which decision did you select?
Why did you select this decision? Be specific and support your response with clinically relevant and patient-specific resources, including the primary literature.
Why did you not select the other two options provided in the exercise? Be specific and support your response with clinically relevant and patient-specific resources, including the primary literature.
What were you hoping to achieve by making this decision? Support your response with evidence and references to the Learning Resources (including the primary literature).
Explain how ethical considerations may impact your treatment plan and communication with patients. Be specific and provide examples.

Decision #2 (1 page)
Why did you select this decision? Be specific and support your response with clinically relevant and patient-specific resources, including the primary literature.
Why did you not select the other two options provided in the exercise? Be specific and support your response with clinically relevant and patient-specific resources, including the primary literature.
What were you hoping to achieve by making this decision? Support your response with evidence and references to the Learning Resources (including the primary literature).
Explain how ethical considerations may impact your treatment plan and communication with patients. Be specific and provide examples.

Decision #3 (1 page)
Why did you select this decision? Be specific and support your response with clinically relevant and patient-specific resources, including the primary literature.
Why did you not select the other two options provided in the exercise? Be specific and support your response with clinically relevant and patient-specific resources, including the primary literature.
What were you hoping to achieve by making this decision? Support your response with evidence and references to the Learning Resources (including the primary literature).
Explain how ethical considerations may impact your treatment plan and communication with patients. Be specific and provide examples.

Demonstrate Understanding of the Subject Matter.

Managing teams and Projects

Choose any example that either supports or refutes one (or more) of the principles described in this chapter

May be any real-world example (current events, your professional life, your personal life, etc.)

Describe the principle(s)

Describe how the example supports or refutes the principle(s)

If the example refutes the principle(s), describe what should have been done differently

Upload your paper to this folder when it is completed.

Make sure you have an introduction and conclusion, and have checked spelling, grammar, and punctuation.

The paper should be 600-800 words. Scoring will be as follows:

Demonstrate Understanding of the Subject Matter

Correctly Apply Concepts

Creatively Apply Concepts (go beyond restating what is in the lecture, book, etc.)

Spelling & Grammar

Conciseness (efficient, effective communication, staying within the prescribed number of words)

What will be most persuasive to your community leaders?What examples of the problem and the solution will be most convincing?

Arizona Government- Create an Action Plan

Map cut your strategy on slides 4 and 5

• Using the local government chart you created m a previous lesso, identify which governmental authorities you could approach with your issue

• What arguments will you make:

What will be most persuasive to your community leaders?

What examples of the problem and the solution will be most convincing?

 

State why there is a community obligation (civil responsibility) to remedy the problem.

Arizona Government- Create an Action Plan

On slide 3, provide some background on your chosen problem.

• What caused this problem’,

• Explain the consequences of the problem if it as not addressed. What will happen if nothing is done

• State why there is a community obligation (civil responsibility) to remedy the problem.

• Use what you learned previously about guaranteed rights and civil liberties (from both your state cons and the U.S. Constitution) to explain the problem

Select the link to access the “Search Constitutions” page from the NBER/Maryland State Constitutions Project webs. Follow the directions below to access your state constitution

Select Article/Section Text from the Select Type of Infonnation to Receive drop-down menu 2 Select your state from the Select State(s) dropdown menu

Select the most recent version of your state constitution from thedown town

Select Gonstrtunon(s) drop-dorm menu

Select the Begin Search button at the top of the window to retrieve your state constitution

 

Discuss the arguments in support or against minimum wage increase.

Choose one of the topics from the attached list for your paper. Your class project is a short
research paper of 5 to 10 pages. Your paper must be typed and in MLA or APA format. Your
paper must have a section for ‘References’ or ‘Work Cited’ showing the sources you have used
in writing your paper.

The topic is Discuss the arguments in support or against minimum wage increase.