Engineering Ethics Steve is updating the HVAC system in his house. The house is older and quite large. It will likely require new zoning as temperatures vary considerably throughout the home. His friend, Terry, owns a small HVAC company and tells Steve that new zoning is going to be difficult without doing major construction. However, there are some things that could be done to improve the temperature disparities throughout the house but “it will be far from perfect.” He quotes Steve a very favorable “friend discount” for the job. For good measure, Steve enlists a larger and more reputable firm to bid on the job as well. The company sends out their best project engineer, Bobby, to see if anything can be done to zone the house effectively and efficiently. Bobby spends the day at the house trying to come up with a creative solution for the problem. Bobby appears very committed to finding a solution and is genuinely excited and enthusiastic about the challenge. A week later Bobby returns with an elaborate and creative proposal for Steve. Bobby assures Steve that this solution will correct the temperature disparities and guarantees that he will work above and beyond to make sure the job is done to near perfection. Steve is very impressed with the design that Bobby has come up with but needs to think about it because the cost is more than he intended to spend. Steve tells his friend Terry about the proposal and Terry says that it is a “genius” idea. He also tells him that he will do the job using Bobby’s design for half the price. Steve did not sign any agreement with Bobby’s company; however, Bobby invested a tremendous amount of time and energy on the design. Bobby is very committed to his job and as has a tendency to trust people as evidenced by the fact that he let Steve make a copy of his detailed proposal that included his drawings. Bobby’s philosophy is to trust people “unless they give you a reason not to.” Using two moral theories, one of them being Kant’s deontology, try to determine the best course of action for Steve by constructing a brief ethical argument. Also, make sure to include the perspective of all three parties involved.

Engineering Ethics Steve is updating the HVAC system in his house. The house is older and quite large. It will likely require new zoning as temperatures vary considerably throughout the home. His friend, Terry, owns a small HVAC company and tells Steve that new zoning is going to be difficult without doing major construction. However, there are some things that could be done to improve the temperature disparities throughout the house but “it will be far from perfect.” He quotes Steve a very favorable “friend discount” for the job. For good measure, Steve enlists a larger and more reputable firm to bid on the job as well. The company sends out their best project engineer, Bobby, to see if anything can be done to zone the house effectively and efficiently. Bobby spends the day at the house trying to come up with a creative solution for the problem. Bobby appears very committed to finding a solution and is genuinely excited and enthusiastic about the challenge. A week later Bobby returns with an elaborate and creative proposal for Steve. Bobby assures Steve that this solution will correct the temperature disparities and guarantees that he will work above and beyond to make sure the job is done to near perfection. Steve is very impressed with the design that Bobby has come up with but needs to think about it because the cost is more than he intended to spend. Steve tells his friend Terry about the proposal and Terry says that it is a “genius” idea. He also tells him that he will do the job using Bobby’s design for half the price. Steve did not sign any agreement with Bobby’s company; however, Bobby invested a tremendous amount of time and energy on the design. Bobby is very committed to his job and as has a tendency to trust people as evidenced by the fact that he let Steve make a copy of his detailed proposal that included his drawings. Bobby’s philosophy is to trust people “unless they give you a reason not to.” Using two moral theories, one of them being Kant’s deontology, try to determine the best course of action for Steve by constructing a brief ethical argument. Also, make sure to include the perspective of all three parties involved.

info@checkyourstudy.com
Question 13 (1 point) To get higher grades and better evaluations from teachers students should Question 13 options: 1) have a temperament matches the teacher’s expectations. 2) the student’s interests match the teacher’s interests and focus. 3) the student’s temperament leads to strong attention to details. 4) the student’s temperament supports moral values. Question 14 (1 point) Research on the academic performance of elementary school children has found Question 14 options: 1) temperament is not related to academic performance. 2) children with an “easy” temperament don’t do as well in school as other children. 3) students do better when their temperament is similar to that of the teacher. 4) temperament plays a role in how well children do in school. Question 15 (1 point) Which of the following is an example of a “supertrait” in Eysenck’s theory? Question 15 options: 1) sociability 2) impulsiveness 3) optimism 4) psychoticism

Question 13 (1 point) To get higher grades and better evaluations from teachers students should Question 13 options: 1) have a temperament matches the teacher’s expectations. 2) the student’s interests match the teacher’s interests and focus. 3) the student’s temperament leads to strong attention to details. 4) the student’s temperament supports moral values. Question 14 (1 point) Research on the academic performance of elementary school children has found Question 14 options: 1) temperament is not related to academic performance. 2) children with an “easy” temperament don’t do as well in school as other children. 3) students do better when their temperament is similar to that of the teacher. 4) temperament plays a role in how well children do in school. Question 15 (1 point) Which of the following is an example of a “supertrait” in Eysenck’s theory? Question 15 options: 1) sociability 2) impulsiveness 3) optimism 4) psychoticism

No expert has answered this question yet. You can browse … Read More...
PHILOSOPHY 100 Study Questions on Bentham from The Classical Utilitarians 1. Provide Bentham’s answers to the following questions from chapter I (“of the Principle of Utility” pp. 8—12) of Principles of Morals and Legislation: (a) What is the principle of utility? (b) What is utility? (c) What is the interest of the community? (d) When is an action conformable to the Principle of Utility? 2. According to Bentham, how are the normative moral notions of right and wrong, ought, and ought not to be understood? 3. What is Bentham’s definition of the Principle of Asceticism from chapter II? 4. In chapter IV, Bentham identifies seven factors (what he calls “circumstances”) that must be considered in estimating or measuring pleasure and pain. What are these seven factors? 5. In chapter XIII (pp. 26—31), Bentham discusses the criminal justice system. According to Bentham, what is the purpose of law? How can punishment (which necessarily involves inflicting pain) be made consistent with the principle of utility? 6. Read the poem on p. 71. Memorize the first line. 7. On page 93, Bentham describes a society in which the majority population enslaves the minority and confiscates its happiness. What follows in this situation? 8. Finish this famous phrase (p. 94): “Prejudice apart,…” What does Bentham mean?

PHILOSOPHY 100 Study Questions on Bentham from The Classical Utilitarians 1. Provide Bentham’s answers to the following questions from chapter I (“of the Principle of Utility” pp. 8—12) of Principles of Morals and Legislation: (a) What is the principle of utility? (b) What is utility? (c) What is the interest of the community? (d) When is an action conformable to the Principle of Utility? 2. According to Bentham, how are the normative moral notions of right and wrong, ought, and ought not to be understood? 3. What is Bentham’s definition of the Principle of Asceticism from chapter II? 4. In chapter IV, Bentham identifies seven factors (what he calls “circumstances”) that must be considered in estimating or measuring pleasure and pain. What are these seven factors? 5. In chapter XIII (pp. 26—31), Bentham discusses the criminal justice system. According to Bentham, what is the purpose of law? How can punishment (which necessarily involves inflicting pain) be made consistent with the principle of utility? 6. Read the poem on p. 71. Memorize the first line. 7. On page 93, Bentham describes a society in which the majority population enslaves the minority and confiscates its happiness. What follows in this situation? 8. Finish this famous phrase (p. 94): “Prejudice apart,…” What does Bentham mean?

please email info@checkyourstudy.com A) The Principle of utility is the … Read More...
Hammurabi’s Code” and the “Negative Confessions” are both examples of moral codes. In what ways are they similar or different to your own moral codes? Which ones sound ancient and which sound like a law or rule we might have today?

Hammurabi’s Code” and the “Negative Confessions” are both examples of moral codes. In what ways are they similar or different to your own moral codes? Which ones sound ancient and which sound like a law or rule we might have today?

Similarities: Hammurabi’s Code” and the “Negative Confessions both are moral … Read More...
Explain ethical egoism. Identify and explain at least one serious problem with the theory. Then answer this question: Do you think that ethical egoism is true? Why or why not? Use at least one example to support your line of reasoning. Papers will be graded on a scale of 0-100 using the following grading rubric: 1. mechanics: The paper is written with correct grammar, punctuation, spelling and other mechanical points. (10 points) 2. style: The sentences are clear and concise, using university-level language. (10 points) 3. coherence: The ordering of the paragraphs and the ordering of the sentences within the paragraphs make the ideas presented easy to understand. (10 points) 4. logic: The paper sticks to answering the assigned question and does not drift into irrelevant or marginally relevant issues. (20 points) 5. knowledge: The paper contains a clear, careful and thorough explanation of the moral theory. (25 points) 6. ideas: The paper includes a clearly stated conclusion and a coherent explanation of the reasons to support that conclusion. (This portion of your paper is addressing the last three questions in either assigned topic.) (25 points)

Explain ethical egoism. Identify and explain at least one serious problem with the theory. Then answer this question: Do you think that ethical egoism is true? Why or why not? Use at least one example to support your line of reasoning. Papers will be graded on a scale of 0-100 using the following grading rubric: 1. mechanics: The paper is written with correct grammar, punctuation, spelling and other mechanical points. (10 points) 2. style: The sentences are clear and concise, using university-level language. (10 points) 3. coherence: The ordering of the paragraphs and the ordering of the sentences within the paragraphs make the ideas presented easy to understand. (10 points) 4. logic: The paper sticks to answering the assigned question and does not drift into irrelevant or marginally relevant issues. (20 points) 5. knowledge: The paper contains a clear, careful and thorough explanation of the moral theory. (25 points) 6. ideas: The paper includes a clearly stated conclusion and a coherent explanation of the reasons to support that conclusion. (This portion of your paper is addressing the last three questions in either assigned topic.) (25 points)

info@checkyourstudy.com Whatsapp +919911743277
Question 10 (1 point) In contrast to Freud’s theory, object relations theorists Question 10 options: focus on internal drives and conflicts. are interested in the intellectual and emotional development of the infant. are interested in an infant’s relationship with his or her parents. do not believe that children develop unconscious representations of significant objects in their environment. ________________________________________ Question 11 (1 point) The psychologists who developed the frustration aggression hypothesis used or adapted each of the following concepts from Freudian theory except one. Which one? Question 11 options: displacement sublimation catharsis reinforcement Question 12 (1 point) Although he changed his mind during his career, which of the following did Freud eventually decide was the cause of human aggression? Question 12 options: a death instinct frustration projection unresolved Oedipal conflicts Question 13 (1 point) Freud wrote about all of the following types of anxiety except one. Which one? Question 13 options: reality anxiety neurotic anxiety moral anxiety performance anxiety Question 14 (1 point) Which of the following is true about neurotic anxiety, as conceived by Freud? Question 14 options: It is experienced when id impulses are close to breaking into consciousness. It prevents the ego from utilizing defense mechanisms. It is created when id impulses violate society’s moral code. People experiencing neurotic anxiety usually are aware of what is making them anxious. Question 15 (1 point) One explanation for why aggression leads to more aggression is that it is reinforced by the cathartic release of tension. Question 15 options: True False ________________________________________ ________________________________________ Question 1 (1 point) A man is said to have one personality trait that dominates his personality. Allport would identify this personality trait as a Question 1 options: 1) common trait. 2) central trait. 3) cardinal trait. 4) secondary trait. Question 2 (1 point) Which of the following is true about the trait approach to personality? Question 2 options: 1) Trait researchers generally are not interested in understanding and predicting the behavior of a single individual. 2) It is not easy to make comparisons across people with the trait approach. 3) The trait approach has been responsible for generating a number of useful approaches to psychotherapy. 4) Trait theorists place a greater emphasis on discovering the mechanisms underlying behavior than do theorists from other approaches to personality. Question 3 (1 point) Many researchers fail to produce strong links between personality traits and behavior. Epstein has argued that the reason for this failure is because Question 3 options: 1) researchers don’t perform the correct statistical analysis. 2) researchers don’t measure personality traits correctly. 3) researchers don’t measure behavior correctly. 4) none of the above Question 4 (1 point) Which theorist had a strong influence on Henry Murray’s theorizing about personality? Question 4 options: 1) Gordon Allport 2) Alfred Adler 3) Sigmund Freud 4) Carl Jung Question 5 (1 point) Sometimes test makers include the same test questions more than once on the test. This is done to detect which potential problem? Question 5 options: 1) faking good 2) faking bad 3) carelessness and sabotage 4) social desirability

Question 10 (1 point) In contrast to Freud’s theory, object relations theorists Question 10 options: focus on internal drives and conflicts. are interested in the intellectual and emotional development of the infant. are interested in an infant’s relationship with his or her parents. do not believe that children develop unconscious representations of significant objects in their environment. ________________________________________ Question 11 (1 point) The psychologists who developed the frustration aggression hypothesis used or adapted each of the following concepts from Freudian theory except one. Which one? Question 11 options: displacement sublimation catharsis reinforcement Question 12 (1 point) Although he changed his mind during his career, which of the following did Freud eventually decide was the cause of human aggression? Question 12 options: a death instinct frustration projection unresolved Oedipal conflicts Question 13 (1 point) Freud wrote about all of the following types of anxiety except one. Which one? Question 13 options: reality anxiety neurotic anxiety moral anxiety performance anxiety Question 14 (1 point) Which of the following is true about neurotic anxiety, as conceived by Freud? Question 14 options: It is experienced when id impulses are close to breaking into consciousness. It prevents the ego from utilizing defense mechanisms. It is created when id impulses violate society’s moral code. People experiencing neurotic anxiety usually are aware of what is making them anxious. Question 15 (1 point) One explanation for why aggression leads to more aggression is that it is reinforced by the cathartic release of tension. Question 15 options: True False ________________________________________ ________________________________________ Question 1 (1 point) A man is said to have one personality trait that dominates his personality. Allport would identify this personality trait as a Question 1 options: 1) common trait. 2) central trait. 3) cardinal trait. 4) secondary trait. Question 2 (1 point) Which of the following is true about the trait approach to personality? Question 2 options: 1) Trait researchers generally are not interested in understanding and predicting the behavior of a single individual. 2) It is not easy to make comparisons across people with the trait approach. 3) The trait approach has been responsible for generating a number of useful approaches to psychotherapy. 4) Trait theorists place a greater emphasis on discovering the mechanisms underlying behavior than do theorists from other approaches to personality. Question 3 (1 point) Many researchers fail to produce strong links between personality traits and behavior. Epstein has argued that the reason for this failure is because Question 3 options: 1) researchers don’t perform the correct statistical analysis. 2) researchers don’t measure personality traits correctly. 3) researchers don’t measure behavior correctly. 4) none of the above Question 4 (1 point) Which theorist had a strong influence on Henry Murray’s theorizing about personality? Question 4 options: 1) Gordon Allport 2) Alfred Adler 3) Sigmund Freud 4) Carl Jung Question 5 (1 point) Sometimes test makers include the same test questions more than once on the test. This is done to detect which potential problem? Question 5 options: 1) faking good 2) faking bad 3) carelessness and sabotage 4) social desirability

No expert has answered this question yet. You can browse … Read More...
In the article, “The Moral Person” it talks about Lawrence Kohlberg’s stages of moral development. Briefly explain the 3 Conventional levels (pre-conventional, conventional, and post-conventional). How may these stages impact one’s ethics? Think about how culture or the social environment affects our framework for coming up with any moral or ethical answer. (Hei Lam Kwan) In the article, they talked about a push for a “global ethic” or “one world”. Do you think this is possible? Besides the Golden Rule are there any other examples of shared ethics around the world? (Nicole Thompson) The article explained that often people know the distinction between right and wrong, but still do the wrong thing. If people know what is morally right, why do they act in ways that are morally wrong? (Nicole Thompson) In McLaren’s reading, he gives us a description on an idea of personhood to help us understand a moral person. He mentions a quote from the philosopher, Sarvepalli Rhadakrishnan that caught my interest. He says, “The self is not an object which we can find in knowledge, for it is the very condition of knowledge. It is different from all objects, the body, the senses, the empirical self itself (36)”. In your opinion, what exactly does he mean by stating that? Does thinking of yourself this way help you morally? (Maggy Ergun) Video: In the video, Damon Horowitz talks about the different approaches to figuring out what is right and what is wrong. Some of them included Plato, who believed that he could uncover the “truths about Justice”, Aristotle, who thought that people should use their current knowledge to make the right decision of here and now to their best ability, and Utilitarianism, who thought it was about measuring out the options to see which one had the most benefit for the greatest amount of people. Which approach do you think is best? Would you suggest another approach? (Nicole Thompson) Damon Horowitz explains the huge power we have and that is knowledge and data we receive from technology. With all this power in our hands, you can have any information you would like to obtain whether it’s on an object or human being. And as technology keeps rising, the more advanced it keeps getting. When it comes to privacy and dignity, do you think it is fair for one another to have this huge power on us? Will this be better for our future or worse? (Maggy Ergun) Horowitz describes how we rely more on our smart devices then actual moral thinking. (Mobile operating system then moral operating system) If we were to create a moral operating system, do you think that will help provoke people from making bad/evil decisions and guide us to better? Or do those bad decisions just come instantly without much thought? (Maggy Ergun) In the video it states, “what we need is a moral operating system.” What are the possible flaws in relying on a machine/software for answering ethical problems? Discuss and list at least one problem we may encounter from relying on such a system for an ethical solution. (Hei Lam Kwan) Reviewing the answers to the previous questions given, do you think there is only one right answer to any ethical question and why? (Hei Lam Kwan) http://www.ted.com/talks/damon_horowitz?language=en this is the video

In the article, “The Moral Person” it talks about Lawrence Kohlberg’s stages of moral development. Briefly explain the 3 Conventional levels (pre-conventional, conventional, and post-conventional). How may these stages impact one’s ethics? Think about how culture or the social environment affects our framework for coming up with any moral or ethical answer. (Hei Lam Kwan) In the article, they talked about a push for a “global ethic” or “one world”. Do you think this is possible? Besides the Golden Rule are there any other examples of shared ethics around the world? (Nicole Thompson) The article explained that often people know the distinction between right and wrong, but still do the wrong thing. If people know what is morally right, why do they act in ways that are morally wrong? (Nicole Thompson) In McLaren’s reading, he gives us a description on an idea of personhood to help us understand a moral person. He mentions a quote from the philosopher, Sarvepalli Rhadakrishnan that caught my interest. He says, “The self is not an object which we can find in knowledge, for it is the very condition of knowledge. It is different from all objects, the body, the senses, the empirical self itself (36)”. In your opinion, what exactly does he mean by stating that? Does thinking of yourself this way help you morally? (Maggy Ergun) Video: In the video, Damon Horowitz talks about the different approaches to figuring out what is right and what is wrong. Some of them included Plato, who believed that he could uncover the “truths about Justice”, Aristotle, who thought that people should use their current knowledge to make the right decision of here and now to their best ability, and Utilitarianism, who thought it was about measuring out the options to see which one had the most benefit for the greatest amount of people. Which approach do you think is best? Would you suggest another approach? (Nicole Thompson) Damon Horowitz explains the huge power we have and that is knowledge and data we receive from technology. With all this power in our hands, you can have any information you would like to obtain whether it’s on an object or human being. And as technology keeps rising, the more advanced it keeps getting. When it comes to privacy and dignity, do you think it is fair for one another to have this huge power on us? Will this be better for our future or worse? (Maggy Ergun) Horowitz describes how we rely more on our smart devices then actual moral thinking. (Mobile operating system then moral operating system) If we were to create a moral operating system, do you think that will help provoke people from making bad/evil decisions and guide us to better? Or do those bad decisions just come instantly without much thought? (Maggy Ergun) In the video it states, “what we need is a moral operating system.” What are the possible flaws in relying on a machine/software for answering ethical problems? Discuss and list at least one problem we may encounter from relying on such a system for an ethical solution. (Hei Lam Kwan) Reviewing the answers to the previous questions given, do you think there is only one right answer to any ethical question and why? (Hei Lam Kwan) http://www.ted.com/talks/damon_horowitz?language=en this is the video

info@checkyourstudy.com
For this assignment, you will compose a letter designed to recruit students to join and support the agenda of one of three nonexistent student organizations that, were they to exist, would likely be very unpopular. The student organization for which you will be recruiting is determined by your last name: The first letter of your last name is… Your student organization assignment is… A – F The SETS Collective: SETS (Skip the Elevator, Take the Stairs) is dedicated to energy conservation on campus, particularly by eliminating elevator usage by pedestrians in any buildings on the UT-Austin campus. G – N O – Z Your recruiting letter must include eight (8) different persuasive strategies. Each strategy must be used in the service of encouraging students to join the organization and/or endorse its cause. In addition to your recruiting letter, you will also submit a commentary describing the different strategies you used in the recruiting letter. In this course, we utilize the TurnItIn tool. This service helps educators prevent plagiarism by detecting unoriginal content in student papers. In addition to acting as a plagiarism deterrent, it also has features designed to aid in educating students about plagiarism and importance of proper attribution of any borrowed content. For more information, please visit http://turnitin.com/. Below are a series of requirements for the paper assignment. Failure to satisfy these requirements will result in substantial point penalties. Also, failure to abide by the academic honesty policy described in the syllabus and maintained by the CMS department, the Moody College of Communication, and/or The University of Texas will result in a grade of F on the assignment and referral to the Dean of Students. Assignment Requirements • You must portray yourself as a recruiting officer (or Secretary of Recruitment) – not the President, VP, etc. – of the organization described in your letter. As a recruiting officer, you are not authorized to offer any rewards or bribes (gifts in the form of sports tickets, free meals, etc.) to people as an incentive to join the organization, nor are you allowed to make up fictional incentives (e.g., OBC students will enjoy an opportunity to participate in international conferences). Your letter should focus exclusively on the merits of joining the organization based on commitment to its cause. • Assume that organization has just been formed – i.e., do not portray it as having existed prior to the Spring of 2017. • You may also assume that there are currently only three members of the organization, the president, vice-president, and yourself (the Secretary of Recruitment). You CANNOT claim that there are “many members.” • You must use the following format for the recruiting letter AND the commentary: 12-point Times New Roman font, single-spaced (NOT double-spaced) on 8.5 X 11-inch white paper with 1-inch margins on all sides. • The recruiting letter must be no shorter than 2 nor longer than 3 pages; the commentary must be no longer than 2 pages. • Your recruiting letter must include only 8 (eight) DIFFERENT strategies discussed in the lectures and/or readings. You may use any principle/theory we have discussed EXCEPT for balance theory (which is too obvious) or deception (which isn’t persuasion per se). • Your commentary must identify the name OR what you did for of each strategy (e.g., Door In Face or Foot In The Door) used in your letter and describe the specific purpose(s) the strategy was used to achieve. At a minimum, your description of each strategy should consist of at least two complete sentences (16 sentences total). • Each strategy explanation in your commentary should be bulleted or numbered for easy identification • You may not lie under any circumstances. Lies include falsifications and/or distortions of the truth about the student organization (e.g., SURF is endorsed by the Fellowship of Christian Athletes). Also, you may not offer recruits bribes in any form (tickets, discounts, free food, cash, etc.) as an incentive for joining the organization. • Your completed assignment (recruiting letter + commentary) must be turned in on April 13th (a Thursday) at or before 9:30 a.m. Grading Rubric We will use the following rubric to evaluate and grade your letter + commentary. Assignment Component Possible Points Obtained Points Format, Spelling, Grammar, Coherence Are the letter and commentary written in the proper format? Do they consist of grammatical, coherent English sentences? Has the assignment been spell-checked? 4 Strategy 1 Example/Commentary Is the example an acceptable instance of the strategy? Is it different from the other strategies used? Is the strategy correctly identified and adequately explained in the commentary? 2 Strategy 2 Example/Commentary 2 Strategy 3 Example/Commentary 2 Strategy 4 Example/Commentary 2 Strategy 5 Example/Commentary 2 Strategy 6 Example/ Commentary 2 Strategy 7 Example/ Commentary 2 Strategy 8 Example/ Commentary 2 Lies/Deception/Bribes (-3 pts per instance) -3 (per instance) Total Score 20 Cannot use strategy of Balance Theory, Lie Write a persuasive essay and a commentary Commentary is about 8 strategies in letter • 8 bullets separate from the letter “foot-in-the-door” – “door-in-the-face” (rejection then retreat) o 1. Make a large (but reasonable) request to target  World you lend me $50? o 2. After request is rejected, make a smaller request  Well then, could you lend me $10? o Creating a “big” favor out of thin air! “low-balling” • An advantage is offered that induces a favorable purchase decision. Then, sometime after the decision has been made, but before the bargain is sealed, the original purchase buyer is deftly removed. 1.) Loss framing: Loss aversion 2.) Restriction: scarcity 3.) Positive self-feeling: Principle commitment 4.) Identification: Social Proof 5.) “Using Rhymes” is what you would write instead of Stroop effect: Fluency 6.) Virtual ownership: Endowment effect 7.) That’s not all: reciprocity 8.) Flattery: Likability 9.) Expertise strategy: Authority principle 10.) Inducing dissonance reduction: Norm of consistency 11.) Conformity concession: social proof 12.) Association similarity: Liking & Association principle Strategies – Use 8 (Cannot use Balance Theory or deception) Strategy Principle Sources/Notes Door in the Face Reciprocity 9/16 lecture Foot in the Door Consistency Norm 9/30 lecture That’s not all Reciprocity 9/16 lecture Flattery Likability Could someone give an example for Flattery?! I’m a little stuck… “Providing a statistic” Social Proof? why is this yellow? What principle is this? How did you use this as a strategy?? plz help AUTHORITY it depends how you use it ID-ing yourself as a student Likability <in cialdini chapter 5 they are talked about as 2 different things, so if you can argue it your way,Cialdini can support it what is the strategy for this? Perceptual Contrast What is this for? Low-Balling Might be considered lying. Soft-Sell Humor appeal did anyone use this?? Anyone??? What principle is this? Hard-sell ???????? Seek-and-Hide Fear Appeal ???? What principle does this fall under???? Pump and Dump social proof 10/9 lecture Bait-and-switch this kind of seems like deception, can we use it? Moral Appeal Commitment Rebecca’s Lecture 10/2 Voluntary instead of Mandatory Consistency Norm 9/30 lecture herd mentality social proof 10/14 lecture Loss framing Loss Aversion Endowment Effect this is a principle FYI Mere ownership Scarcity Dissonance Reduction Positive/negative self feelings Commitment to gain compliance Rebecca’s Lecture Principles Name STRATEGIES/Ideas Source/Notes Reciprocity That’s not all! Likability/Association Flattery, agreeing with said person, state similar social standings, “work with” them, show evidence of “good things” likeability/association ppt Consistency/Commitment Foot in the door, positive self-feelings, moral appeal, Social Proof/Conformity norm works when someone is uncertain about the right thing to do, and when the person they are watching is similar to them. Provide target with “evidence” that compliance is a common/frequent response among desired social group “we made other people happy, we’ll make you happy too” Priming the pump (tip jar example) Pump and dump (Scam, could be considered deception) Conformity and social proff ppt Authority Wearing a uniform, Titles, books, diplomas, awards, success, using a spokesperson, Scarcity/Supply and demand “Only a certain number of students allowed in” “only for college students” “Exclusive except to X” “Only a certain number of seats” Scarcity ppt Psychological Reactance Restricting access, censoring something, implying scarcity, Scarcity ppt Attractiveness Similarity Mentioning you are a student Perceptual Contrast Loss aversion gain or loss framing Scarcity ppt Balance Theory We aren’t allowed to use this Judgement Heuristic Price = product quality Use of long unfamilar words = intelligence fluency = trustworthinesss Fluency ppt Availability Heuristic Can you think of one example (out of ten) (for us) vs Can you think of then for the competitor - here’s our ten. Fluency ppt

For this assignment, you will compose a letter designed to recruit students to join and support the agenda of one of three nonexistent student organizations that, were they to exist, would likely be very unpopular. The student organization for which you will be recruiting is determined by your last name: The first letter of your last name is… Your student organization assignment is… A – F The SETS Collective: SETS (Skip the Elevator, Take the Stairs) is dedicated to energy conservation on campus, particularly by eliminating elevator usage by pedestrians in any buildings on the UT-Austin campus. G – N O – Z Your recruiting letter must include eight (8) different persuasive strategies. Each strategy must be used in the service of encouraging students to join the organization and/or endorse its cause. In addition to your recruiting letter, you will also submit a commentary describing the different strategies you used in the recruiting letter. In this course, we utilize the TurnItIn tool. This service helps educators prevent plagiarism by detecting unoriginal content in student papers. In addition to acting as a plagiarism deterrent, it also has features designed to aid in educating students about plagiarism and importance of proper attribution of any borrowed content. For more information, please visit http://turnitin.com/. Below are a series of requirements for the paper assignment. Failure to satisfy these requirements will result in substantial point penalties. Also, failure to abide by the academic honesty policy described in the syllabus and maintained by the CMS department, the Moody College of Communication, and/or The University of Texas will result in a grade of F on the assignment and referral to the Dean of Students. Assignment Requirements • You must portray yourself as a recruiting officer (or Secretary of Recruitment) – not the President, VP, etc. – of the organization described in your letter. As a recruiting officer, you are not authorized to offer any rewards or bribes (gifts in the form of sports tickets, free meals, etc.) to people as an incentive to join the organization, nor are you allowed to make up fictional incentives (e.g., OBC students will enjoy an opportunity to participate in international conferences). Your letter should focus exclusively on the merits of joining the organization based on commitment to its cause. • Assume that organization has just been formed – i.e., do not portray it as having existed prior to the Spring of 2017. • You may also assume that there are currently only three members of the organization, the president, vice-president, and yourself (the Secretary of Recruitment). You CANNOT claim that there are “many members.” • You must use the following format for the recruiting letter AND the commentary: 12-point Times New Roman font, single-spaced (NOT double-spaced) on 8.5 X 11-inch white paper with 1-inch margins on all sides. • The recruiting letter must be no shorter than 2 nor longer than 3 pages; the commentary must be no longer than 2 pages. • Your recruiting letter must include only 8 (eight) DIFFERENT strategies discussed in the lectures and/or readings. You may use any principle/theory we have discussed EXCEPT for balance theory (which is too obvious) or deception (which isn’t persuasion per se). • Your commentary must identify the name OR what you did for of each strategy (e.g., Door In Face or Foot In The Door) used in your letter and describe the specific purpose(s) the strategy was used to achieve. At a minimum, your description of each strategy should consist of at least two complete sentences (16 sentences total). • Each strategy explanation in your commentary should be bulleted or numbered for easy identification • You may not lie under any circumstances. Lies include falsifications and/or distortions of the truth about the student organization (e.g., SURF is endorsed by the Fellowship of Christian Athletes). Also, you may not offer recruits bribes in any form (tickets, discounts, free food, cash, etc.) as an incentive for joining the organization. • Your completed assignment (recruiting letter + commentary) must be turned in on April 13th (a Thursday) at or before 9:30 a.m. Grading Rubric We will use the following rubric to evaluate and grade your letter + commentary. Assignment Component Possible Points Obtained Points Format, Spelling, Grammar, Coherence Are the letter and commentary written in the proper format? Do they consist of grammatical, coherent English sentences? Has the assignment been spell-checked? 4 Strategy 1 Example/Commentary Is the example an acceptable instance of the strategy? Is it different from the other strategies used? Is the strategy correctly identified and adequately explained in the commentary? 2 Strategy 2 Example/Commentary 2 Strategy 3 Example/Commentary 2 Strategy 4 Example/Commentary 2 Strategy 5 Example/Commentary 2 Strategy 6 Example/ Commentary 2 Strategy 7 Example/ Commentary 2 Strategy 8 Example/ Commentary 2 Lies/Deception/Bribes (-3 pts per instance) -3 (per instance) Total Score 20 Cannot use strategy of Balance Theory, Lie Write a persuasive essay and a commentary Commentary is about 8 strategies in letter • 8 bullets separate from the letter “foot-in-the-door” – “door-in-the-face” (rejection then retreat) o 1. Make a large (but reasonable) request to target  World you lend me $50? o 2. After request is rejected, make a smaller request  Well then, could you lend me $10? o Creating a “big” favor out of thin air! “low-balling” • An advantage is offered that induces a favorable purchase decision. Then, sometime after the decision has been made, but before the bargain is sealed, the original purchase buyer is deftly removed. 1.) Loss framing: Loss aversion 2.) Restriction: scarcity 3.) Positive self-feeling: Principle commitment 4.) Identification: Social Proof 5.) “Using Rhymes” is what you would write instead of Stroop effect: Fluency 6.) Virtual ownership: Endowment effect 7.) That’s not all: reciprocity 8.) Flattery: Likability 9.) Expertise strategy: Authority principle 10.) Inducing dissonance reduction: Norm of consistency 11.) Conformity concession: social proof 12.) Association similarity: Liking & Association principle Strategies – Use 8 (Cannot use Balance Theory or deception) Strategy Principle Sources/Notes Door in the Face Reciprocity 9/16 lecture Foot in the Door Consistency Norm 9/30 lecture That’s not all Reciprocity 9/16 lecture Flattery Likability Could someone give an example for Flattery?! I’m a little stuck… “Providing a statistic” Social Proof? why is this yellow? What principle is this? How did you use this as a strategy?? plz help AUTHORITY it depends how you use it ID-ing yourself as a student Likability

checkyourstudy.com Whatsapp +919911743277
1000 words Total. Answer each question in paragraph form https://www.youtube.com/watch?v=wzicXbnmllc In the video, presented by Brooke Deterline, talks about creating ethical cultures in a business. One of Brooke’s main point was courage. She defines courage as our ability to act from our hearts in the face of fear and is a skill that we can build with practice. Brooke gives an example of life without courage and shows us many scenarios where it is still happening today, 10 years after the ENRON scandal. Courage is something that lacks in social situations where wrong is being done. She states that we all are vulnerable to situation influence all the time and that it is natural human wiring. It seems that most of us, including myself, can become a bystander to follow a leader or a group that we know is doing wrong because we want to be accepted. (1) Why do you think that the most ethical and compassionate among us can easily betray our values, in the face of challenging situations? What challenges does one face when they are presented with a difficult situation? (2) Do you believe that with practice we can retrain our brains to override our natural fear response when we are put in these challenging situations? Managers sometimes face business problems that raise difficult questions. When being faced with these problems they must choose between two ways of resolving it. Each of these alternatives is the right thing to do, but they can not do both ways. Badaracco characterizes right-versus-right dilemmas as “dirty-hands problems,” where managers or any employee often have to “get their hands dirty” by making tough choices between competing virtues such as honesty, fairness, respect, objectivity, and responsibility. He shows us three managers that face different right- versus-right conflicts. We see that these managers have the responsibilities to live up to the commitments they have made and the standards by which they want live by. However, it is not that simple to choose from wanting to be a successful manager and a decent, responsible person. (3) After reading the three different extremes of right- versus- right, why do you think that Badaracco emphasizes on the statement made by Oliver Wendell Holmes, “I do not give a fig for the simplicity on the this side complexity, but i would give my life for the simplicity on the other side of complexity,” and what do you think it means? A manager often encounters right-versus-right dilemmas where professional responsibilities conflict with personal values. For example, a senior manager may have knowledge of plans to lay off an employee-friend who is planning the purchase of a new home. Warning the friend about the upcoming layoff would certainly help the friend avoid the difficulty of paying for a new home without a job, but it may also violate an agreement with senior management and shareholders to keep such plans confidential until these plans are properly implemented. (4) In a challenging situation like this, should mangers rely on fundamental ethical principles and the company’s mission statement to help them decide what to do or should they consult their own moral instincts and intuitions?

1000 words Total. Answer each question in paragraph form https://www.youtube.com/watch?v=wzicXbnmllc In the video, presented by Brooke Deterline, talks about creating ethical cultures in a business. One of Brooke’s main point was courage. She defines courage as our ability to act from our hearts in the face of fear and is a skill that we can build with practice. Brooke gives an example of life without courage and shows us many scenarios where it is still happening today, 10 years after the ENRON scandal. Courage is something that lacks in social situations where wrong is being done. She states that we all are vulnerable to situation influence all the time and that it is natural human wiring. It seems that most of us, including myself, can become a bystander to follow a leader or a group that we know is doing wrong because we want to be accepted. (1) Why do you think that the most ethical and compassionate among us can easily betray our values, in the face of challenging situations? What challenges does one face when they are presented with a difficult situation? (2) Do you believe that with practice we can retrain our brains to override our natural fear response when we are put in these challenging situations? Managers sometimes face business problems that raise difficult questions. When being faced with these problems they must choose between two ways of resolving it. Each of these alternatives is the right thing to do, but they can not do both ways. Badaracco characterizes right-versus-right dilemmas as “dirty-hands problems,” where managers or any employee often have to “get their hands dirty” by making tough choices between competing virtues such as honesty, fairness, respect, objectivity, and responsibility. He shows us three managers that face different right- versus-right conflicts. We see that these managers have the responsibilities to live up to the commitments they have made and the standards by which they want live by. However, it is not that simple to choose from wanting to be a successful manager and a decent, responsible person. (3) After reading the three different extremes of right- versus- right, why do you think that Badaracco emphasizes on the statement made by Oliver Wendell Holmes, “I do not give a fig for the simplicity on the this side complexity, but i would give my life for the simplicity on the other side of complexity,” and what do you think it means? A manager often encounters right-versus-right dilemmas where professional responsibilities conflict with personal values. For example, a senior manager may have knowledge of plans to lay off an employee-friend who is planning the purchase of a new home. Warning the friend about the upcoming layoff would certainly help the friend avoid the difficulty of paying for a new home without a job, but it may also violate an agreement with senior management and shareholders to keep such plans confidential until these plans are properly implemented. (4) In a challenging situation like this, should mangers rely on fundamental ethical principles and the company’s mission statement to help them decide what to do or should they consult their own moral instincts and intuitions?

Assignment One Suggested Due Date: July 17th In this assignment you will read three articles You will answer questions about Hayek, Lucas, and Mankiw et. al. which consider just those particular articles. Then at the end of the assignment there is a cluster of questions that deal with both Lucas and Mankiw et al where you will have an opportunity to compare and contrast those two articles. When you have completed the assignment, place it in the appropriate drop box in WTClass. Hayek: The Use of Knowledge in Society http://www.econlib.org/library/Essays/hykKnw1.html Adapted from Michael K. Salemi “The Use of Knowledge in Society” F. A. Hayek Discussion Questions 1.1. “The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form, but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess (H.3)” a. What does Hayek mean by a “rational economic order”? b. What does Hayek mean by “dispersed bits of incomplete and frequently contradictory knowledge”? c. Why is Hayek critical of the common assumptions in economic analysis that buyers, sellers, producers and the economist all know every relevant thing about the economy? d. What, in summary, does Hayek mean by the quoted statement? 1.2. What, according to Hayek, is the information needed to operate effectively in a complex market economy? a. What does Hayek mean by “planning”? b. What is the minimum information needed by economic planners and individuals? c. Does the minimum differ for planners and for individuals? How? Why? d. What happens when some individuals possess more information than other individuals? e. What does Hayek mean when he says (H.16) “…the sort of knowledge with which I have been concerned is knowledge of the kind which by its nature cannot enter into statistics and therefore cannot be conveyed to any central authority in statistical form”? f. Why, according to Hayek, can the “information problem” be solved by “the price system”? 1.3. Why, according to Hayek, is the true function of the price system the communication of information? a. Why does Hayek use the term ‘marvel’ in his discussion of the economy of knowledge? b. What does Hayek mean when he says (H.26) “…man has been able to develop that division of labor on which our civilization is based because he happened to stumble upon a method which made it possible”? Read Robert Lucas’ “Some Macroeconomics for the 21st Century” in the Journal of Economic Perspectives. (Skip the appendix.) All four of these links go to the same article. Some of the links might not be accessible to you, but I think that at least one of them should work for all of you. https://www.aeaweb.org/articles.php?doi=10.1257/jep.14.1.159 http://www.jstor.org/stable/2647059 http://www.econ.psu.edu/~aur10/Econ%20570%20Fall%202009/Lucas%20JEP%202000.pdf http://faculty.georgetown.edu/mh5/class/econ102/readings/Macro_21st_Century.pdf 1. According to Lucas, why has the world’s economy grown so much since 1960? 2. According to Lucas, why do some nations grow faster than others? 3. According to Lucas, why will growth and inequality decrease in the next 100 years? 4. Is Lucas’ model in this paper “economics?” Read Greg Mankiw, Romer and Wiel’s article in The Quarterly Journal of Economics. http://www.econ.nyu.edu/user/debraj/Courses/Readings/MankiwRomerWeil.pdf 1. Many economists think the Solow Growth Model is of limited use. (One of my professors at OU stated that it took economists 50 years to figure out that their growth model has nothing to do with growth.) But does the Solow model give “…the right answer to the questions it is designed to address?” 2. Why is human capital important when testing the Solow model against the data? 3. Explain how the authors conclude that the incomes of the world’s nations are converging? Now that you’ve answered questions about Lucas and Mankiw et al separately, consider this question: Both of these papers develop the notion that the economies of the world’s nations will tend to “converge” over time. Compare and contrast the way(s) in which the papers advance the idea of convergence. Assignment Two Due Date July 24th This assignment is very straight forward. You’ll read two papers and answer questions about each of them. Read Krugman’s paper on unemployment http://www.kc.frb.org/PUBLICAT/ECONREV/EconRevArchive/1994/4Q94KRUG.pdf 1. What is the difference between structural and cyclical unemployment? In this context, what is the difference between Europe and the US? What is the evidence that Krugman uses to back his opinion? 2. What is the natural rate of unemployment? Why is it higher/rising in Europe? Again, what is the evidence? 3. What is the relationship between the rising unemployment in Europe and the rise in inequality in the US. (What does Krugman mean by inequality?) 4. What is NOT to blame for either the rise in unemployment or inequality? 5. What policies, if any, can be put into place to combat rising inequality/unemployment? 6. Are you convinced by Krugman’s argument which rules out globalization as the likely cause for high European unemployment and high US wage inequality? 7. Consider Table 2 in Krugman. Why does Krugman include Table 2 in his paper? In other words, what point is strengthened by the data in Table 2 and why is it crucial to Krugman’s larger thesis? NOW, recreate the data for Table 2 for either the UK or US for the latest year possible. Has anything changed as a result of the Great Recession? Read Thomas Sargent’s paper about the credibility of “Reaganonomics.” http://minneapolisfed.contentdm.oclc.org/cdm/ref/collection/p15334coll1/id/366 http://minneapolisfed.contentdm.oclc.org/cdm/singleitem/collection/p15334coll1/id/366/rec/1 You might like this: http://www.ispot.tv/ad/7Lj9/ally-bank-predictions-featuring-thomas-sargent 1. What is a dynamic game? 2. Why should we think of monetary and fiscal policy as dynamic game? Who are the players and what are the strategies? 3. When are government budgets inflationary? (Again, think in terms of a game.) 4. What are the consequences if the monetary authority does not coordinate with fiscal policy agents? 5. Has Sargent done of good job characterizing the interplay between policymakers in the government, the central bank, and the public? 6. What is the connection between policy coordination and credibility? 7. Why, according to Sargent, were Reagan’s fiscal and monetary policy regimes “incredible?” Explain carefully. Assignment Three Due Date July 31 Read Taylor, Miskin, Obstfeld and Rogoff. Answer the questions for each article, then answer the final cluster that requires you to consider Miskin, Obstfeld and Rogoff. Suggested due date: January 2nd. Read John Taylor’s article about monetary transmission mechanisms. http://web.econ.unito.it/bagliano/ecmon_readings/taylor_jep95.pdf Also, to understand traditional monetary policy, listen to this: http://www.econtalk.org/archives/2008/08/john_taylor_on.html These questions refer to the article, not the podcast. 1. How does monetary policy (or changes in monetary policy) affect output and inflation? In other words, what is the monetary policy transmission mechanism? 2. What is the importance of financial market prices in Taylor’s view? 3. What is the importance of rational expectations and rigidities in the prices of labor and goods? 4. What is a reaction function? Why is a reaction function important? 5. What is an “optimal monetary policy rule?” 6. Has the monetary transmission mechanism changed? How? 7. What are the criticisms of Taylor’s views? How does he respond? What do you think? Read Mishkin’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.3 1. What is a financial crisis? 2. How did adverse selection and moral hazard contribute to the financial crisis in Mexico and East Asia in the 1990s? What are adverse selection and moral hazard? 3. Did irresponsible monetary and fiscal policy contribute to the crisis in the 90s? Why or why not? 4. How is it possible for the IMF to help in a crisis when a domestic central bank might not be able to help. 5. What should the US learn (or have learned??) from the crisis in the 90s? Read Rogoff’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 Answer the questions and place the answers in the appropriate drop box in WTClass. 1. According to Rogoff, is the status quo in international lending viable or not? Explain. 2. Can the IMF handle international financial crises? Why or why not? 3. Rogoff gives six solutions to save the global financial system (deep pockets lender of last resort, an international financial crisis manager, an international bankruptcy court, an international regulator, international deposit insurance corporation, and a world monetary authority.) What is wrong with all of these? 4. Can developing economies cope with speculative capital flows without help? Explain. 5. What will be (should be) the role that equity financing play in developing country projects? Read Obstfeld on Global Capital Markets: http://www.nber.org/papers/w6559.pdf 1. Look at table 1 and figure 1. How does Obstfeld use the data in that table to suggest that 1) markets became less open then more open in the 20th century. 2. What is the “openness trilemma?” What are the economic and/or policy trade-offs with having a global, open and integrated financial system? 3. How does economic integration impact a nation’s ability to tax capital? Can you think of some high profile cases in the news lately that illustrate this fact? (Hint: you should be able to.) 4. What is the international diversification puzzle? What market failures have arisen (if any) have arisen due to more integration and openness? Comparing Obstfeld, Miskin, and Rogoff 1. Would the authors’ advice about policies to reduce the costs of financial integration be the same? Why or why not? 2. Would the authors’ agree that we need an international regulatory body to stave off international financial crises? Why or why not? 3. What is your opinion? Is it good to have a global financial market? Why or why not? Assignment Four Due Date August 7 Straight forward assignment: Read and answer the questions. Read Arnold Kling’s history of the policies that created the great recession http://mercatus.org/publication/not-what-they-had-mind-history-policies-produced-financial-crisis-2008 1. Using only the executive summary, what does Kling think caused the Financial Crisis of 2008? (Use only one sentence.) 2. One page 5, what is “the fact?” and what does this “fact” mean to you? 3. Briefly summarize the four components of the Financial Crisis? 4. On page 10, Kling states, “These property bubbles (in the U.K. and Spain) cannot be blamed on U.S. policy.” How confident are you on that point? Is Kling wrong? 5. Kling’s matrix of causes, gives almost all weight to what two factors? What three factors are almost completely not responsible? 6. Many have blamed designer financial (my term) like CDS and CDO and the shadow banking system for the collapse. How do these fit into Kling’s narrative? 7. Outline the progression of policy that caused/responded to economic conditions in the 30s, 70s and 80s and 00s. 8. What role did the mortgage interest deduction have on housing market? 9. What institution invented and allowed the expansion of mortgage-backed securities? 10. What is regulatory arbitrage? 11. Why did the Basel agreement create an advantage for mortgage securitization? 12. Did the Federal Reserve (and presumably other regulatory agencies know and even encourage regulatory capital arbitrage? What author does Kling cite to establish this? 13. What did the 2002 modification of the Basel Rules do to capital requirements? (See figure 4) 14. Summarize the Shadow Regulatory Committee’s statement 160. 15. Did non market institutions, such as the IMF and Bernanke, think, in 2006, that financial innovation had make the banking sector more or less fragile? 16. What is time inconsistency? (You can look this up elsewhere.) 17. How might “barriers to entry” by related to “safety and soundness?” 18. A Curmudgeon is an old man who is easily annoyed and angered. He also complains a lot. (I had to look it up.) I think I’ll change my xbox gamertag to this word, but I’ll bet it is taken. 19. How did credit scoring and credit default swaps enlarge the mortgage securities market? 20. Why, up until 2007, did we think that monetary expansion was all that was needed to mitigate the impact of financial crises? 21. Suppose that financial markets are inherently unstable. What does this mean are two goals of regulation and regulators? 22. Why are type two errors so problematic? (Two reasons.) 23. How could we make the banking sector easy to fix? Assignment Five Due August 13 Read the linked lectures and answer the questions. Lecture 1 http://econlog.econlib.org/archives/2008/11/lectures_in_mac.html 1.1 Why do you think macroeconomic realities must be reconciled with microeconomic analysis? (This is not a rhetorical question, but it will be hard for you to answer. There is no “wrong” answer you could give. Just think about it for a few minutes.) Lecture 2 http://econlog.econlib.org/archives/2008/11/lectures_in_mac_1.html 2.1 Consider this article after you have read Hayek. How do prices and wages perform the function of “central planning?” 2.2 Kling makes that claim that, because most workers do not do manual labor anymore, the economy is different that it was in 1930. Assuming he is correct, do you think central planning would be harder today or easier? Why? Lecture 3 http://econlog.econlib.org/archives/2008/11/lectures_on_mac.html 3.1 Give a one sentence definition of structural unemployment, of frictional unemployment and of cyclical unemployment. Lecture 4 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_1.html 4.1 So, why does the economy adjust employment rather than wages? Lecture 5 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_2.html 5.1 Kling gives 5 reasons the DotCom recession was worse than the previous two recessions (at least in duration). Which reason do you think is the most compelling? Lecture 6 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_3.html 6.1 Why are Keynesian remedies (blunt fiscal and monetary policy measures) less appropriate in a post industrial economy, according to Kling? Lecture 7 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_4.html 7.1 Why is it so hard to separate finance and government, according to Kling? Lecture 8 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_5.html 8.1 Why is American Express Travelers Checks so interesting? Do credit cards work in a similar way? (I really don’t know the answer to this one. I just know that credit cards have made travelers checks obsolete.) Lecture 9. http://econlog.econlib.org/archives/2008/12/lectures_on_mac_6.html 9.1 According to this article, why do we have banks (financial sector or financial intermediation?) Lecture 10 http://econlog.econlib.org/archives/2008/12/lectures_on_mac_7.html 10.1 Why are banks better than barter, according to this leture? 10.2 Politics tends to favor bailouts of failed firms. Why is this exactly wrong?

Assignment One Suggested Due Date: July 17th In this assignment you will read three articles You will answer questions about Hayek, Lucas, and Mankiw et. al. which consider just those particular articles. Then at the end of the assignment there is a cluster of questions that deal with both Lucas and Mankiw et al where you will have an opportunity to compare and contrast those two articles. When you have completed the assignment, place it in the appropriate drop box in WTClass. Hayek: The Use of Knowledge in Society http://www.econlib.org/library/Essays/hykKnw1.html Adapted from Michael K. Salemi “The Use of Knowledge in Society” F. A. Hayek Discussion Questions 1.1. “The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form, but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess (H.3)” a. What does Hayek mean by a “rational economic order”? b. What does Hayek mean by “dispersed bits of incomplete and frequently contradictory knowledge”? c. Why is Hayek critical of the common assumptions in economic analysis that buyers, sellers, producers and the economist all know every relevant thing about the economy? d. What, in summary, does Hayek mean by the quoted statement? 1.2. What, according to Hayek, is the information needed to operate effectively in a complex market economy? a. What does Hayek mean by “planning”? b. What is the minimum information needed by economic planners and individuals? c. Does the minimum differ for planners and for individuals? How? Why? d. What happens when some individuals possess more information than other individuals? e. What does Hayek mean when he says (H.16) “…the sort of knowledge with which I have been concerned is knowledge of the kind which by its nature cannot enter into statistics and therefore cannot be conveyed to any central authority in statistical form”? f. Why, according to Hayek, can the “information problem” be solved by “the price system”? 1.3. Why, according to Hayek, is the true function of the price system the communication of information? a. Why does Hayek use the term ‘marvel’ in his discussion of the economy of knowledge? b. What does Hayek mean when he says (H.26) “…man has been able to develop that division of labor on which our civilization is based because he happened to stumble upon a method which made it possible”? Read Robert Lucas’ “Some Macroeconomics for the 21st Century” in the Journal of Economic Perspectives. (Skip the appendix.) All four of these links go to the same article. Some of the links might not be accessible to you, but I think that at least one of them should work for all of you. https://www.aeaweb.org/articles.php?doi=10.1257/jep.14.1.159 http://www.jstor.org/stable/2647059 http://www.econ.psu.edu/~aur10/Econ%20570%20Fall%202009/Lucas%20JEP%202000.pdf http://faculty.georgetown.edu/mh5/class/econ102/readings/Macro_21st_Century.pdf 1. According to Lucas, why has the world’s economy grown so much since 1960? 2. According to Lucas, why do some nations grow faster than others? 3. According to Lucas, why will growth and inequality decrease in the next 100 years? 4. Is Lucas’ model in this paper “economics?” Read Greg Mankiw, Romer and Wiel’s article in The Quarterly Journal of Economics. http://www.econ.nyu.edu/user/debraj/Courses/Readings/MankiwRomerWeil.pdf 1. Many economists think the Solow Growth Model is of limited use. (One of my professors at OU stated that it took economists 50 years to figure out that their growth model has nothing to do with growth.) But does the Solow model give “…the right answer to the questions it is designed to address?” 2. Why is human capital important when testing the Solow model against the data? 3. Explain how the authors conclude that the incomes of the world’s nations are converging? Now that you’ve answered questions about Lucas and Mankiw et al separately, consider this question: Both of these papers develop the notion that the economies of the world’s nations will tend to “converge” over time. Compare and contrast the way(s) in which the papers advance the idea of convergence. Assignment Two Due Date July 24th This assignment is very straight forward. You’ll read two papers and answer questions about each of them. Read Krugman’s paper on unemployment http://www.kc.frb.org/PUBLICAT/ECONREV/EconRevArchive/1994/4Q94KRUG.pdf 1. What is the difference between structural and cyclical unemployment? In this context, what is the difference between Europe and the US? What is the evidence that Krugman uses to back his opinion? 2. What is the natural rate of unemployment? Why is it higher/rising in Europe? Again, what is the evidence? 3. What is the relationship between the rising unemployment in Europe and the rise in inequality in the US. (What does Krugman mean by inequality?) 4. What is NOT to blame for either the rise in unemployment or inequality? 5. What policies, if any, can be put into place to combat rising inequality/unemployment? 6. Are you convinced by Krugman’s argument which rules out globalization as the likely cause for high European unemployment and high US wage inequality? 7. Consider Table 2 in Krugman. Why does Krugman include Table 2 in his paper? In other words, what point is strengthened by the data in Table 2 and why is it crucial to Krugman’s larger thesis? NOW, recreate the data for Table 2 for either the UK or US for the latest year possible. Has anything changed as a result of the Great Recession? Read Thomas Sargent’s paper about the credibility of “Reaganonomics.” http://minneapolisfed.contentdm.oclc.org/cdm/ref/collection/p15334coll1/id/366 http://minneapolisfed.contentdm.oclc.org/cdm/singleitem/collection/p15334coll1/id/366/rec/1 You might like this: http://www.ispot.tv/ad/7Lj9/ally-bank-predictions-featuring-thomas-sargent 1. What is a dynamic game? 2. Why should we think of monetary and fiscal policy as dynamic game? Who are the players and what are the strategies? 3. When are government budgets inflationary? (Again, think in terms of a game.) 4. What are the consequences if the monetary authority does not coordinate with fiscal policy agents? 5. Has Sargent done of good job characterizing the interplay between policymakers in the government, the central bank, and the public? 6. What is the connection between policy coordination and credibility? 7. Why, according to Sargent, were Reagan’s fiscal and monetary policy regimes “incredible?” Explain carefully. Assignment Three Due Date July 31 Read Taylor, Miskin, Obstfeld and Rogoff. Answer the questions for each article, then answer the final cluster that requires you to consider Miskin, Obstfeld and Rogoff. Suggested due date: January 2nd. Read John Taylor’s article about monetary transmission mechanisms. http://web.econ.unito.it/bagliano/ecmon_readings/taylor_jep95.pdf Also, to understand traditional monetary policy, listen to this: http://www.econtalk.org/archives/2008/08/john_taylor_on.html These questions refer to the article, not the podcast. 1. How does monetary policy (or changes in monetary policy) affect output and inflation? In other words, what is the monetary policy transmission mechanism? 2. What is the importance of financial market prices in Taylor’s view? 3. What is the importance of rational expectations and rigidities in the prices of labor and goods? 4. What is a reaction function? Why is a reaction function important? 5. What is an “optimal monetary policy rule?” 6. Has the monetary transmission mechanism changed? How? 7. What are the criticisms of Taylor’s views? How does he respond? What do you think? Read Mishkin’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.3 1. What is a financial crisis? 2. How did adverse selection and moral hazard contribute to the financial crisis in Mexico and East Asia in the 1990s? What are adverse selection and moral hazard? 3. Did irresponsible monetary and fiscal policy contribute to the crisis in the 90s? Why or why not? 4. How is it possible for the IMF to help in a crisis when a domestic central bank might not be able to help. 5. What should the US learn (or have learned??) from the crisis in the 90s? Read Rogoff’s article about global financial instability. http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.13.4.21 Answer the questions and place the answers in the appropriate drop box in WTClass. 1. According to Rogoff, is the status quo in international lending viable or not? Explain. 2. Can the IMF handle international financial crises? Why or why not? 3. Rogoff gives six solutions to save the global financial system (deep pockets lender of last resort, an international financial crisis manager, an international bankruptcy court, an international regulator, international deposit insurance corporation, and a world monetary authority.) What is wrong with all of these? 4. Can developing economies cope with speculative capital flows without help? Explain. 5. What will be (should be) the role that equity financing play in developing country projects? Read Obstfeld on Global Capital Markets: http://www.nber.org/papers/w6559.pdf 1. Look at table 1 and figure 1. How does Obstfeld use the data in that table to suggest that 1) markets became less open then more open in the 20th century. 2. What is the “openness trilemma?” What are the economic and/or policy trade-offs with having a global, open and integrated financial system? 3. How does economic integration impact a nation’s ability to tax capital? Can you think of some high profile cases in the news lately that illustrate this fact? (Hint: you should be able to.) 4. What is the international diversification puzzle? What market failures have arisen (if any) have arisen due to more integration and openness? Comparing Obstfeld, Miskin, and Rogoff 1. Would the authors’ advice about policies to reduce the costs of financial integration be the same? Why or why not? 2. Would the authors’ agree that we need an international regulatory body to stave off international financial crises? Why or why not? 3. What is your opinion? Is it good to have a global financial market? Why or why not? Assignment Four Due Date August 7 Straight forward assignment: Read and answer the questions. Read Arnold Kling’s history of the policies that created the great recession http://mercatus.org/publication/not-what-they-had-mind-history-policies-produced-financial-crisis-2008 1. Using only the executive summary, what does Kling think caused the Financial Crisis of 2008? (Use only one sentence.) 2. One page 5, what is “the fact?” and what does this “fact” mean to you? 3. Briefly summarize the four components of the Financial Crisis? 4. On page 10, Kling states, “These property bubbles (in the U.K. and Spain) cannot be blamed on U.S. policy.” How confident are you on that point? Is Kling wrong? 5. Kling’s matrix of causes, gives almost all weight to what two factors? What three factors are almost completely not responsible? 6. Many have blamed designer financial (my term) like CDS and CDO and the shadow banking system for the collapse. How do these fit into Kling’s narrative? 7. Outline the progression of policy that caused/responded to economic conditions in the 30s, 70s and 80s and 00s. 8. What role did the mortgage interest deduction have on housing market? 9. What institution invented and allowed the expansion of mortgage-backed securities? 10. What is regulatory arbitrage? 11. Why did the Basel agreement create an advantage for mortgage securitization? 12. Did the Federal Reserve (and presumably other regulatory agencies know and even encourage regulatory capital arbitrage? What author does Kling cite to establish this? 13. What did the 2002 modification of the Basel Rules do to capital requirements? (See figure 4) 14. Summarize the Shadow Regulatory Committee’s statement 160. 15. Did non market institutions, such as the IMF and Bernanke, think, in 2006, that financial innovation had make the banking sector more or less fragile? 16. What is time inconsistency? (You can look this up elsewhere.) 17. How might “barriers to entry” by related to “safety and soundness?” 18. A Curmudgeon is an old man who is easily annoyed and angered. He also complains a lot. (I had to look it up.) I think I’ll change my xbox gamertag to this word, but I’ll bet it is taken. 19. How did credit scoring and credit default swaps enlarge the mortgage securities market? 20. Why, up until 2007, did we think that monetary expansion was all that was needed to mitigate the impact of financial crises? 21. Suppose that financial markets are inherently unstable. What does this mean are two goals of regulation and regulators? 22. Why are type two errors so problematic? (Two reasons.) 23. How could we make the banking sector easy to fix? Assignment Five Due August 13 Read the linked lectures and answer the questions. Lecture 1 http://econlog.econlib.org/archives/2008/11/lectures_in_mac.html 1.1 Why do you think macroeconomic realities must be reconciled with microeconomic analysis? (This is not a rhetorical question, but it will be hard for you to answer. There is no “wrong” answer you could give. Just think about it for a few minutes.) Lecture 2 http://econlog.econlib.org/archives/2008/11/lectures_in_mac_1.html 2.1 Consider this article after you have read Hayek. How do prices and wages perform the function of “central planning?” 2.2 Kling makes that claim that, because most workers do not do manual labor anymore, the economy is different that it was in 1930. Assuming he is correct, do you think central planning would be harder today or easier? Why? Lecture 3 http://econlog.econlib.org/archives/2008/11/lectures_on_mac.html 3.1 Give a one sentence definition of structural unemployment, of frictional unemployment and of cyclical unemployment. Lecture 4 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_1.html 4.1 So, why does the economy adjust employment rather than wages? Lecture 5 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_2.html 5.1 Kling gives 5 reasons the DotCom recession was worse than the previous two recessions (at least in duration). Which reason do you think is the most compelling? Lecture 6 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_3.html 6.1 Why are Keynesian remedies (blunt fiscal and monetary policy measures) less appropriate in a post industrial economy, according to Kling? Lecture 7 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_4.html 7.1 Why is it so hard to separate finance and government, according to Kling? Lecture 8 http://econlog.econlib.org/archives/2008/11/lectures_on_mac_5.html 8.1 Why is American Express Travelers Checks so interesting? Do credit cards work in a similar way? (I really don’t know the answer to this one. I just know that credit cards have made travelers checks obsolete.) Lecture 9. http://econlog.econlib.org/archives/2008/12/lectures_on_mac_6.html 9.1 According to this article, why do we have banks (financial sector or financial intermediation?) Lecture 10 http://econlog.econlib.org/archives/2008/12/lectures_on_mac_7.html 10.1 Why are banks better than barter, according to this leture? 10.2 Politics tends to favor bailouts of failed firms. Why is this exactly wrong?

info@checkyourstudy.com