The theory of market economies emphasizes freedom of choice and limited government intervention. The classic argument for government intervention is market failure – the inability of the market economy to correct itself from a dysfunctional state (such as the Great Depression). Students will examine articles from the University library to analyze real-world examples of U.S. government intervention programs and apply current week readings to make intelligent conclusions about the economic policies.
Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.
Using the University Library, EBSCOhost, or ProQuest data bases, locate up to three different articles/publications and/or use The Economist Online from the University Library to examine one case of significant government intervention as it relates to your current industry of employment or an industry in which you are interested in working. You may access EBSCOhost, ProQuest or The Economist Online through the University Library homepage:
Click on the Library tab.
Click on University Library.
Click on the tab to Databases A-Z.
Click on “E”.
Scroll down to Economist.com.
Examples of intervention programs you may select, but are not limited to:
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US agriculture support programs
Low income support programs (Food Stamps, Earned Income Tax Credit, Child Tax Credit, and Temporary Assistance to Needy Families)
Medicaid, Children’s Health Insurance Program, The Affordable Care Act (Obamacare)
Low-income rent controls and housing vouchers
Government promotion of renewable energy sources to discourage use of fossil fuels such as coal and oil
Bailout of U.S. banks and other financial institutions during the Great Recession
Bailout of U.S. auto makers during the Great Recession
Social Security retirement benefits
Develop a minimum 10-slide Microsoft® PowerPoint® presentation including detailed speaker notes or voiceover including the following:
Describe the intervention and detail its history.
Analyze the arguments for government intervention as opposed to arguments for market-based solutions. Hint: See the information in our course textbook on market failures.
Examine who may be helped and who may be hurt by the selected government intervention.
Examine externalities and/or unintended consequences of such intervention.
Determine the cost trend of the intervention program since its implementation including whether costs are increasing, decreasing, or vary with the state of the economy.
Evaluate the success or failure of the intervention in achieving its objectives and develop conclusions.
Recommend whether the program should be continued as is, discontinued, or modified and defend your recommendation.