1. Of all the skills in Bloom’s taxonomy, which are you most successful with in your own schooling? Which are more challenging for you?

1. Of all the skills in Bloom’s taxonomy, which are you most successful with in your own schooling? Which are more challenging for you?

Bloom’s Classification of Cognitive Skills Successful Category Definition Related Behaviors … Read More...
ENGR 1120 – PROGRAMMING FOR ENGINEERS (MATLAB) Homework Program #2 Objectives: Demonstrate knowledge of data files, vector variables, intrinsic functions, subscript manipulation, for loops, and plotting in MATLAB. You have been given a set of ASCII data files that contain directions for laying out patterns in a field. The data files contain in the first column a distance to travel and in the second column a direction heading. Unfortunately, the person who created the data did not have a good understanding of orienteering and the direction headings are given as referenced to a clock face. The pattern begins at the origin of a Cartesian coordinate system with the person facing 12 o’clock, see the figure below. The figure shows an example of the first step in the pattern being a distance of 1.5 feet in the direction of 7 o’clock. All direction headings are given in terms of this clock orientation. The distance values given are in feet. There are 5 data files provided online for testing of the program. Write a script file that will allow the user to input from the keyboard the filename of the file that they wish to analyze. Load only that ONE data file and plot the resulting pattern. Once each point forming the pattern has been located, find and designate on the plot which of the resulting nodes was the farthest away from the origin. Also find and designate the center of the pattern as defined to occur at the coordinate location corresponding to (average x, average y). When plotting the resulting pattern on the Cartesian coordinate system, set the axes limits to appropriate values. HINT: Correlate the direction headings provided in the data files to a Cartesian coordinate system by using the following vector in your script file. This requires subscript manipulation. angle = [60; 30; 0; 330; 300; 270; 240; 210; 180; 150; 120; 90] -2 -1.5 -1 -0.5 0 0.5 1 1.5 2 -2 -1.5 -1 -0.5 0 0.5 1 1.5 2 1 2 3 4 5 6 7 8 9 10 11 12 you are here

ENGR 1120 – PROGRAMMING FOR ENGINEERS (MATLAB) Homework Program #2 Objectives: Demonstrate knowledge of data files, vector variables, intrinsic functions, subscript manipulation, for loops, and plotting in MATLAB. You have been given a set of ASCII data files that contain directions for laying out patterns in a field. The data files contain in the first column a distance to travel and in the second column a direction heading. Unfortunately, the person who created the data did not have a good understanding of orienteering and the direction headings are given as referenced to a clock face. The pattern begins at the origin of a Cartesian coordinate system with the person facing 12 o’clock, see the figure below. The figure shows an example of the first step in the pattern being a distance of 1.5 feet in the direction of 7 o’clock. All direction headings are given in terms of this clock orientation. The distance values given are in feet. There are 5 data files provided online for testing of the program. Write a script file that will allow the user to input from the keyboard the filename of the file that they wish to analyze. Load only that ONE data file and plot the resulting pattern. Once each point forming the pattern has been located, find and designate on the plot which of the resulting nodes was the farthest away from the origin. Also find and designate the center of the pattern as defined to occur at the coordinate location corresponding to (average x, average y). When plotting the resulting pattern on the Cartesian coordinate system, set the axes limits to appropriate values. HINT: Correlate the direction headings provided in the data files to a Cartesian coordinate system by using the following vector in your script file. This requires subscript manipulation. angle = [60; 30; 0; 330; 300; 270; 240; 210; 180; 150; 120; 90] -2 -1.5 -1 -0.5 0 0.5 1 1.5 2 -2 -1.5 -1 -0.5 0 0.5 1 1.5 2 1 2 3 4 5 6 7 8 9 10 11 12 you are here

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Question 2 0 / 1 point The formation of our solar system began when electrons settled into orbit around hydrogen nuclei water condensed into an icy body a shock wave from a nearby exploding star started a cloud of dust and gas spinning all matter and energy exploded from a tiny singularity in the big bang

Question 2 0 / 1 point The formation of our solar system began when electrons settled into orbit around hydrogen nuclei water condensed into an icy body a shock wave from a nearby exploding star started a cloud of dust and gas spinning all matter and energy exploded from a tiny singularity in the big bang

CHM114: Exam #1 CHM 114, S2015 Exam #1, Version B Instructor: O. Graudejus Points: 100 Print Name Sign Name Student I.D. # 1. You are responsible for the information on this page. Please read it carefully. 2. If you enter your ASU ID incorrectly on the scantron, a 3 point penalty will be assessed. 3. Code your name and 10 digit affiliate identification number on the separate scantron answer sheet. Use only a #2 pencil 4. Do all calculations on the exam pages. Do not make any unnecessary marks on the answer sheet. 5. This exam consists of 25 multiple choice questions worth 4 points each and a periodic table. Make sure you have them all. 6. Choose the best answer to each of the questions and answer it on the computer-graded answer sheet. Read all responses before making a selection. 7. Read the directions carefully for each problem. 8. Avoid even casual glances at other students’ exams. 9. Stop writing and hand in your scantron answer sheet and your test promptly when instructed. LATE EXAMS MAY HAVE POINTS DEDUCTED. 10. You will have 50 minutes to complete the exam. 11. If you leave early, please do so quietly. 12. Work the easiest problems first. 13. A periodic table is attached as the last page to this exam. 14. Answers will be posted online this afternoon. Potentially useful information: K = ºC + 273.15 Avogadro’s Number = 6.022 × 1023 particles/mole 1amu = 1.66·10-24 g 1 cal=4.184 J \ -2- CHM 114: Exam #1 1) What volume (mL) of a concentrated solution of sodium hydroxide (6.00 M) must be diluted to 200.0 mL to make a 0.880 M solution of sodium hydroxide? A) 2.64 B) 176 C) 29.3 D) 26.4 E) 50.0 2) Sulfur and fluorine react in a combination reaction to produce sulfur hexafluoride: S (s) + 3 F2 (g)  SF6 (g) The maximum amount of SF6 that can be produced from the reaction of 3.5 g of sulfur with 4.5 g of fluorine is __________ g. A) 5.8 B) 3.2 C) 12 D) 16 E) 8.0 3) Of the reactions below, only __________ is not spontaneous. A) 2 2 Mg (s) 2HCl + (aq)®MgCl (aq) + H (g) B) 2 4 2 4 2 2Ni (s) + H SO (aq) ®Ni SO (aq) + H (g) C) 3 2 2Al (s) + 6HBr (aq)®2AlBr (aq) + 3H (g) D) 3 3 2 2Ag (s) + 2HNO (aq) ®2AgNO (aq) + H (g) E) 2 2 Zn (s) + 2HI (aq) ®ZnI (aq) + H (g) 4) Which solution has the same number of moles of NaOH as 40.00 mL of 0.100M solution of NaOH? A) 20.00 mL of 0.200M solution of NaOH B) 25.00 mL of 0.175M solution of NaOH C) 30.00 mL of 0.145M solution of NaOH D) 50.00 mL of 0.125M solution of NaOH E) 100.00 mL of 0.0500M solution of NaOH 5) What is the concentration (M) of a NaCl solution prepared by dissolving 9.3 g of NaCl in sufficient water to give 450 mL of solution? A) 0.35 B) 0.16 C) 0.45 D) 27 E) -2 2.7×10 -3- CHM 114: Exam #1 6) In which reaction does the oxidation number of hydrogen change? A) 2 HCl (aq) NaOH (+ aq)® NaCl (aq) + H O (l) B) 2 2 CaO (s) + H O (l) ®Ca(OH) (s) C) 4 3 4 2 2 2 2 HClO (aq) + CaCO (s) ® Ca(ClO ) (aq) + H O (l) +CO (g) D) 2 2 2 3 SO (g) + H O (l)®H SO (aq) E) 2 2 2 Na (s) + 2H O (l) ® 2 NaOH (aq) + H (g) 7) Which atom has the smallest number of neutrons? A) phosphorus-30 B) chlorine-37 C) potassium-39 D) argon-40 E) calcium-40 8) The change in the internal energy of a system that absorbs 2,500 J of heat and that has received 7,655 J of work by the surroundings is __________ J. A) -10,155 B) -5,155 C) 7 −1.91×10 D) 10,155 E) 5,155 9) When a metal and a nonmetal react, the __________ tends to lose electrons and the __________ tends to gain electrons. A) metal, metal B) nonmetal, nonmetal C) metal, nonmetal D) nonmetal, metal E) None of the above, these elements share electrons. 10) What is the oxidation number of nitrogen in HNO2? A) -5 B) -3 C) 0 D) +3 E) +5 -4- CHM 114: Exam #1 11) Elements in Group 7A are known as the __________. A) chalcogens B) alkaline earth metals C) alkali metals D) halogens E) noble gases 12) The concentration of iodide ions in a 0.193 M solution of sodium iodide is __________. A) 0.193 M B) 0.386 M C) 0.0965 M D) 0.579 M E) 0.0643 M 13) Lithium and nitrogen react to produce lithium nitride: 6Li (s) + N2 (g)  2Li3N (s) How many moles of N2 are needed to react with 1.422 mol of lithium? A) 4.26 B) 0.710 C) 0.237 D) 2.13 E) 0.118 14) The balanced equation for the decomposition of sodium azide is __________. A) 2NaN3 (s)  Na2 (s) + 3 N2 (g) B) NaN3 (s)  Na (s) + N2 (g) C) 2NaN3 (s)  2Na (s) + 3 N2 (g) D) NaN3 (s)  Na (s) + N2 (g) + N (g) E) 2NaN3 (s)  2Na (s) + 2 N2 (g) 15) A sample of CH2F2 with a mass of 9.5 g contains __________ atoms of F. A) 2.2 × 1023 B) 38 C) 3.3 × 1024 D) 4.4 × 1023 E) 9.5 -5- CHM 114: Exam #1 16) An unknown element is found to have three naturally occurring isotopes with atomic masses of 35.9675 (0.337%), 37.9627 (0.063%), and 39.9624 (99.600%). Which of the following is the unknown element? A) Ar B) K C) Cl D) Ca E) None of the above could be the unknown element. 17) The value of DH° for the reaction below is -482 kJ. Calculate the heat (kJ) released to the surroundings when 24.0 g of CO (g) reacts completely. 2 2 2CO(g) +O (g)®2CO (g) A) 3 2.89×10 B) 207 C) 103 D) 65.7 E) -482 18) Lead (II) carbonate decomposes to give lead (II) oxide and carbon dioxide: PbCO3 (s)  PbO (s) + CO2 (g) __________ grams of carbondioxide will be produced by the decomposition of 7.50 g of lead (II) carbonate? A) 1.23 B) 2.50 C) 0.00936 D) 6.26 E) 7.83 19) Combining aqueous solutions of BaCl2 and K2SO4 affords a precipitate of 4 BaSO . Which ion(s) is/are spectator ions in the reaction? A) 2 Ba only + B) K+ only C) 2 2 Ba and SO4 + − D) SO4 2- and Cl- E) K+ and Cl- 20) Which combination will produce a precipitate? A) Pb(NO3)2 (aq) and HCl (aq) B) Cu(NO3)2 (aq) and KCl (aq) C) KOH (aq) and HNO3 (aq) D) AgNO3 (aq) and HNO3 (aq) E) NaOH (aq) and Sr(NO3)2 (aq) -6- CHM 114: Exam #1 21) There are __________ sulfur atoms in 50 molecules of C4H4S2. A) 1.5 × 1025 B) 100 C) 3.0 × 1025 D) 50 E) 6.02 × 1023 22) A compound contains 38.7% K, 13.9% N, and 47.4% O by mass. What is the empirical formula of the compound? A) K2N2O3 B) KNO2 C) KNO3 D) K2NO3 E) K4NO5 23) Predict the empirical formula of the ionic compound that forms from sodium and fluorine. A) 2 Na F B) 2 NaF C) 2 3 Na F D) NaF E) 3 2 Na F 24) The mass % of Krypton in the binary compound KrF2 is __________. A) 18.48 B) 45.38 C) 68.80 D) 81.52 E) 31.20 25) The correct name for K2SO3 is __________. A) potassium sulfate B) potassium disulfide C) potassium sulfite D) potassium sulfide E) dipotassium sulfate -7- CHM 114: Exam #1

CHM114: Exam #1 CHM 114, S2015 Exam #1, Version B Instructor: O. Graudejus Points: 100 Print Name Sign Name Student I.D. # 1. You are responsible for the information on this page. Please read it carefully. 2. If you enter your ASU ID incorrectly on the scantron, a 3 point penalty will be assessed. 3. Code your name and 10 digit affiliate identification number on the separate scantron answer sheet. Use only a #2 pencil 4. Do all calculations on the exam pages. Do not make any unnecessary marks on the answer sheet. 5. This exam consists of 25 multiple choice questions worth 4 points each and a periodic table. Make sure you have them all. 6. Choose the best answer to each of the questions and answer it on the computer-graded answer sheet. Read all responses before making a selection. 7. Read the directions carefully for each problem. 8. Avoid even casual glances at other students’ exams. 9. Stop writing and hand in your scantron answer sheet and your test promptly when instructed. LATE EXAMS MAY HAVE POINTS DEDUCTED. 10. You will have 50 minutes to complete the exam. 11. If you leave early, please do so quietly. 12. Work the easiest problems first. 13. A periodic table is attached as the last page to this exam. 14. Answers will be posted online this afternoon. Potentially useful information: K = ºC + 273.15 Avogadro’s Number = 6.022 × 1023 particles/mole 1amu = 1.66·10-24 g 1 cal=4.184 J \ -2- CHM 114: Exam #1 1) What volume (mL) of a concentrated solution of sodium hydroxide (6.00 M) must be diluted to 200.0 mL to make a 0.880 M solution of sodium hydroxide? A) 2.64 B) 176 C) 29.3 D) 26.4 E) 50.0 2) Sulfur and fluorine react in a combination reaction to produce sulfur hexafluoride: S (s) + 3 F2 (g)  SF6 (g) The maximum amount of SF6 that can be produced from the reaction of 3.5 g of sulfur with 4.5 g of fluorine is __________ g. A) 5.8 B) 3.2 C) 12 D) 16 E) 8.0 3) Of the reactions below, only __________ is not spontaneous. A) 2 2 Mg (s) 2HCl + (aq)®MgCl (aq) + H (g) B) 2 4 2 4 2 2Ni (s) + H SO (aq) ®Ni SO (aq) + H (g) C) 3 2 2Al (s) + 6HBr (aq)®2AlBr (aq) + 3H (g) D) 3 3 2 2Ag (s) + 2HNO (aq) ®2AgNO (aq) + H (g) E) 2 2 Zn (s) + 2HI (aq) ®ZnI (aq) + H (g) 4) Which solution has the same number of moles of NaOH as 40.00 mL of 0.100M solution of NaOH? A) 20.00 mL of 0.200M solution of NaOH B) 25.00 mL of 0.175M solution of NaOH C) 30.00 mL of 0.145M solution of NaOH D) 50.00 mL of 0.125M solution of NaOH E) 100.00 mL of 0.0500M solution of NaOH 5) What is the concentration (M) of a NaCl solution prepared by dissolving 9.3 g of NaCl in sufficient water to give 450 mL of solution? A) 0.35 B) 0.16 C) 0.45 D) 27 E) -2 2.7×10 -3- CHM 114: Exam #1 6) In which reaction does the oxidation number of hydrogen change? A) 2 HCl (aq) NaOH (+ aq)® NaCl (aq) + H O (l) B) 2 2 CaO (s) + H O (l) ®Ca(OH) (s) C) 4 3 4 2 2 2 2 HClO (aq) + CaCO (s) ® Ca(ClO ) (aq) + H O (l) +CO (g) D) 2 2 2 3 SO (g) + H O (l)®H SO (aq) E) 2 2 2 Na (s) + 2H O (l) ® 2 NaOH (aq) + H (g) 7) Which atom has the smallest number of neutrons? A) phosphorus-30 B) chlorine-37 C) potassium-39 D) argon-40 E) calcium-40 8) The change in the internal energy of a system that absorbs 2,500 J of heat and that has received 7,655 J of work by the surroundings is __________ J. A) -10,155 B) -5,155 C) 7 −1.91×10 D) 10,155 E) 5,155 9) When a metal and a nonmetal react, the __________ tends to lose electrons and the __________ tends to gain electrons. A) metal, metal B) nonmetal, nonmetal C) metal, nonmetal D) nonmetal, metal E) None of the above, these elements share electrons. 10) What is the oxidation number of nitrogen in HNO2? A) -5 B) -3 C) 0 D) +3 E) +5 -4- CHM 114: Exam #1 11) Elements in Group 7A are known as the __________. A) chalcogens B) alkaline earth metals C) alkali metals D) halogens E) noble gases 12) The concentration of iodide ions in a 0.193 M solution of sodium iodide is __________. A) 0.193 M B) 0.386 M C) 0.0965 M D) 0.579 M E) 0.0643 M 13) Lithium and nitrogen react to produce lithium nitride: 6Li (s) + N2 (g)  2Li3N (s) How many moles of N2 are needed to react with 1.422 mol of lithium? A) 4.26 B) 0.710 C) 0.237 D) 2.13 E) 0.118 14) The balanced equation for the decomposition of sodium azide is __________. A) 2NaN3 (s)  Na2 (s) + 3 N2 (g) B) NaN3 (s)  Na (s) + N2 (g) C) 2NaN3 (s)  2Na (s) + 3 N2 (g) D) NaN3 (s)  Na (s) + N2 (g) + N (g) E) 2NaN3 (s)  2Na (s) + 2 N2 (g) 15) A sample of CH2F2 with a mass of 9.5 g contains __________ atoms of F. A) 2.2 × 1023 B) 38 C) 3.3 × 1024 D) 4.4 × 1023 E) 9.5 -5- CHM 114: Exam #1 16) An unknown element is found to have three naturally occurring isotopes with atomic masses of 35.9675 (0.337%), 37.9627 (0.063%), and 39.9624 (99.600%). Which of the following is the unknown element? A) Ar B) K C) Cl D) Ca E) None of the above could be the unknown element. 17) The value of DH° for the reaction below is -482 kJ. Calculate the heat (kJ) released to the surroundings when 24.0 g of CO (g) reacts completely. 2 2 2CO(g) +O (g)®2CO (g) A) 3 2.89×10 B) 207 C) 103 D) 65.7 E) -482 18) Lead (II) carbonate decomposes to give lead (II) oxide and carbon dioxide: PbCO3 (s)  PbO (s) + CO2 (g) __________ grams of carbondioxide will be produced by the decomposition of 7.50 g of lead (II) carbonate? A) 1.23 B) 2.50 C) 0.00936 D) 6.26 E) 7.83 19) Combining aqueous solutions of BaCl2 and K2SO4 affords a precipitate of 4 BaSO . Which ion(s) is/are spectator ions in the reaction? A) 2 Ba only + B) K+ only C) 2 2 Ba and SO4 + − D) SO4 2- and Cl- E) K+ and Cl- 20) Which combination will produce a precipitate? A) Pb(NO3)2 (aq) and HCl (aq) B) Cu(NO3)2 (aq) and KCl (aq) C) KOH (aq) and HNO3 (aq) D) AgNO3 (aq) and HNO3 (aq) E) NaOH (aq) and Sr(NO3)2 (aq) -6- CHM 114: Exam #1 21) There are __________ sulfur atoms in 50 molecules of C4H4S2. A) 1.5 × 1025 B) 100 C) 3.0 × 1025 D) 50 E) 6.02 × 1023 22) A compound contains 38.7% K, 13.9% N, and 47.4% O by mass. What is the empirical formula of the compound? A) K2N2O3 B) KNO2 C) KNO3 D) K2NO3 E) K4NO5 23) Predict the empirical formula of the ionic compound that forms from sodium and fluorine. A) 2 Na F B) 2 NaF C) 2 3 Na F D) NaF E) 3 2 Na F 24) The mass % of Krypton in the binary compound KrF2 is __________. A) 18.48 B) 45.38 C) 68.80 D) 81.52 E) 31.20 25) The correct name for K2SO3 is __________. A) potassium sulfate B) potassium disulfide C) potassium sulfite D) potassium sulfide E) dipotassium sulfate -7- CHM 114: Exam #1

Capital Punishment For this paper, please read both the Ernest Van den Haag article and the Larry Tifft article. PICK A SIDE, either pro-capital punishment (death penalty) or abolitionist (anti-death penalty). This IS an ARGUMENTATIVE PAPER!!!!!!!!!!!! Using both the articles, your text book, (and a general source if you wish such as the Bible or dictionary), argue for your stance. You may also use the Marx/Durkheim handouts if you so wish, so long as there are SOCIOLOGY TERMS in your paper! You must: 1. Provide three points to back up your argument and include them in your thesis paragraph and explain them in the body of the paper; 2. Give voice to the opposing side. If you’re abolitionist, bring up any validity to Van den Haag, if you’re pro-capital punishment, bring up any validity to Tifft’s argument. 3. Use both a thesis opening paragraph and a solid conclusion paragraph. 4. Use SOCIOLOGY TERMS! 5. NO PERSONAL PRONOUNS! TECH requirements: • 12 point, Arial or Times Roman Numeral font. • 3 page long NOT including cover sheet and references page • Double spaced

Capital Punishment For this paper, please read both the Ernest Van den Haag article and the Larry Tifft article. PICK A SIDE, either pro-capital punishment (death penalty) or abolitionist (anti-death penalty). This IS an ARGUMENTATIVE PAPER!!!!!!!!!!!! Using both the articles, your text book, (and a general source if you wish such as the Bible or dictionary), argue for your stance. You may also use the Marx/Durkheim handouts if you so wish, so long as there are SOCIOLOGY TERMS in your paper! You must: 1. Provide three points to back up your argument and include them in your thesis paragraph and explain them in the body of the paper; 2. Give voice to the opposing side. If you’re abolitionist, bring up any validity to Van den Haag, if you’re pro-capital punishment, bring up any validity to Tifft’s argument. 3. Use both a thesis opening paragraph and a solid conclusion paragraph. 4. Use SOCIOLOGY TERMS! 5. NO PERSONAL PRONOUNS! TECH requirements: • 12 point, Arial or Times Roman Numeral font. • 3 page long NOT including cover sheet and references page • Double spaced

Question 9 (1 point) My performance in this class is based on: Question 9 options: Quiz performance Course discussion participation Critical thinking and application assignments All of the above

Question 9 (1 point) My performance in this class is based on: Question 9 options: Quiz performance Course discussion participation Critical thinking and application assignments All of the above

Question 9 (1 point)   My performance in this class is … Read More...
AUCS 340: Ethics in the Profession Written Video Presentation Response Paper As a component of this course you will have the opportunity to view the movie “My Sister’s Keeper” (2009) starring Cameron Diaz, Jason Patric and Abigail Breslin. This movie is an adaptation of the book of the same title written by Jodi Picoult. Your answers are to be based on the movie adaptation of the book. While this movie offers a profound family story it also reflects upon issues related to current technological advancements in medicine and it will also offer you the opportunity to identify and respond to some of ethical issues represented in the movie. After viewing this movie, respond to the following questions. Your answers should be insightful and reflective of the topics researched for class, in regards to the ethical treatment to be afforded all citizens. 1. Identify at least two ethical issues/situations portrayed in the movie. These issues must be separate from the issue of stem cell research which will be addressed in questions later in this assignment. 2. Discuss a solution or solutions to each of the ethical issues that you identified in question number one. If multiple solutions are offered, identify your solutions as to first preference, second preference and so on until concluded. 3. Are your solutions feasible? What cost would it take to implement your solutions: taxes, wholesale system changes, society as a whole? 4. This movie incorporates the topic of stem cell usage for the treatment of medical conditions. Discuss the difference between the acquisition of fetal stem cells and adult stem cells. List ethical arguments both for and against the concept of expanding stem cell research to have a more active role in the development of treatment options for patients. 5. List at least five medical conditions that have the potential to be treated with stem cells. 6. Discuss the attitude of former President George W. Bush and current President Barack Obama in their philosophical approach to the issue of stem cell research. (Do they accept or reject the idea of stem cell research? Is there legislation that supports their views?) 7. From your previous assignment on the administration of healthcare in the United States you should have a general view of some of the problems facing the distribution of healthcare services in the United States. Research the changes to the health care system as proposed by President Barack Obama, and passed into legislation as the Patient Protection and Affordable Care Act, and outline/list these changes for healthcare reform in the United States. What are the financial implications of this plan? What portions of this plan do you find feasible to solving the problem of inadequate healthcare coverage for all Americans? What portions of this plan do you find unacceptable? 8. Overall, do you feel that these proposed changes will benefit or cause harm to the distribution of healthcare in the United States? Explain the rationale behind your answer. 9. Discuss problems in implication of the Affordable Care Act (ACA) that have occurred since October 2013. Have theses issues been resolved? 10. To date, how many people have been enrolled in the Affordable Care Act? Is this number above expectations, below expectations or at the level of expectation for enrollment at this point in time? 11. How will future enrollment in Medicaid be affected by the passage of the Affordable Care Act? This assignment is due on the date posted in the syllabus. Grading: Content of responses: thought provoking, rationale defended = 70% of grade Correct use of sentence structure, grammar and spelling, stapled for presentation = 20% of grade Appropriate use of citations and references = 10% of grade (No www.Wikipedia.com) It is expected that the length of the computer generated responses to these questions will be presented in at least three – four pages of text. Use 12 font and double spacing for your responses. Format: you may either respond to the questions as a running essay or use the questions as a header for each individual answer.

AUCS 340: Ethics in the Profession Written Video Presentation Response Paper As a component of this course you will have the opportunity to view the movie “My Sister’s Keeper” (2009) starring Cameron Diaz, Jason Patric and Abigail Breslin. This movie is an adaptation of the book of the same title written by Jodi Picoult. Your answers are to be based on the movie adaptation of the book. While this movie offers a profound family story it also reflects upon issues related to current technological advancements in medicine and it will also offer you the opportunity to identify and respond to some of ethical issues represented in the movie. After viewing this movie, respond to the following questions. Your answers should be insightful and reflective of the topics researched for class, in regards to the ethical treatment to be afforded all citizens. 1. Identify at least two ethical issues/situations portrayed in the movie. These issues must be separate from the issue of stem cell research which will be addressed in questions later in this assignment. 2. Discuss a solution or solutions to each of the ethical issues that you identified in question number one. If multiple solutions are offered, identify your solutions as to first preference, second preference and so on until concluded. 3. Are your solutions feasible? What cost would it take to implement your solutions: taxes, wholesale system changes, society as a whole? 4. This movie incorporates the topic of stem cell usage for the treatment of medical conditions. Discuss the difference between the acquisition of fetal stem cells and adult stem cells. List ethical arguments both for and against the concept of expanding stem cell research to have a more active role in the development of treatment options for patients. 5. List at least five medical conditions that have the potential to be treated with stem cells. 6. Discuss the attitude of former President George W. Bush and current President Barack Obama in their philosophical approach to the issue of stem cell research. (Do they accept or reject the idea of stem cell research? Is there legislation that supports their views?) 7. From your previous assignment on the administration of healthcare in the United States you should have a general view of some of the problems facing the distribution of healthcare services in the United States. Research the changes to the health care system as proposed by President Barack Obama, and passed into legislation as the Patient Protection and Affordable Care Act, and outline/list these changes for healthcare reform in the United States. What are the financial implications of this plan? What portions of this plan do you find feasible to solving the problem of inadequate healthcare coverage for all Americans? What portions of this plan do you find unacceptable? 8. Overall, do you feel that these proposed changes will benefit or cause harm to the distribution of healthcare in the United States? Explain the rationale behind your answer. 9. Discuss problems in implication of the Affordable Care Act (ACA) that have occurred since October 2013. Have theses issues been resolved? 10. To date, how many people have been enrolled in the Affordable Care Act? Is this number above expectations, below expectations or at the level of expectation for enrollment at this point in time? 11. How will future enrollment in Medicaid be affected by the passage of the Affordable Care Act? This assignment is due on the date posted in the syllabus. Grading: Content of responses: thought provoking, rationale defended = 70% of grade Correct use of sentence structure, grammar and spelling, stapled for presentation = 20% of grade Appropriate use of citations and references = 10% of grade (No www.Wikipedia.com) It is expected that the length of the computer generated responses to these questions will be presented in at least three – four pages of text. Use 12 font and double spacing for your responses. Format: you may either respond to the questions as a running essay or use the questions as a header for each individual answer.

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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?

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