MEDIA LOUNGE

MICRO MEDIA ASSIGNMENTS

All of these assignments must be shared through Google Docs to Kevin_Magnani@wrsd.net

Micro Media A:  The Birth of Behavioral Economics

   Behavioral Economics is the newest, most exciting thing to hit the field of Economics is the last fifty years.  View the video clips below.  After viewing, refer to the three questions below and incorporate your responses to those three questions into a one page typed reaction paper.   DO NOT NUMBER answers #1-#3!!  Please refer specifically to the video segment in your paper and be sure to address the economic concepts of opportunity costs, marginal analysis, rational choice making and incentives. 

Address the following questions in a one page response after viewing the clips:

 1.  Explain the overall differences between traditional vs behavioral economics as a discipline of study.

 2.  Explain any impact you feel the new discipline of behavioral economics will have on the world in terms of policy making, business and consumer markets, and social trends.

 3.  Do you personally subscribe more to the beliefs of fundamental economists, or those of the newer behavioral economists?  Explain.

Micro Media B:  The Case For and Against Raising the Minimum Wage

1.First click here to watch the video parody called "Freedom on Trial"

 

2.  Watch each of the following clips regarding the heavily debated topic of Minimum Wage increases. 

 

3.  write a reflection as to whether you support minimum wage increases or to what extent.   When stating your position, refer directly and specifically to the information found in Freedom on Trial as well as the video clips.

Micro Media C:  Creative Destruction and Consumer Preference in the Retail Market

Watch the following clips regarding the closing of many famous "brick and mortar" stores in the US.   In a one page reflection paper, explain what seems to be economically behind the closings of these stores?  How does this demonstrate the concept of creative destruction?   Would an economist necessarily support or oppose this happening?  What are your opinions on the issue based on the economics you have learned?

Micro Media D:  The Deadweight Loss of Christmas - The Economist as Scrooge

 If Economists need anymore reason to be the" wet blanket Debbie Downer" on fun, here below is the Economists official take on Christmas.  Economists feel the wonderful Christmas holiday is the most egregious example of inefficiency.   After watching the videos, explain how economists feel Christmas is inefficient and how you feel you can improve the efficiency of the holiday without simply giving cash gifts as Seinfeld decided to do.

Micro Media E:  Brand Loyalty is Dead among Millennial Generation Consumers

For the first time is a long time, corporations are seeing a shift in consumer preferences away from being "brand loyal".  Millennials opt for choices over committing to a certain name brand.  Monopolistically competitive industries relying heavily on advertising in the past to create loyal customers are now having to rethink their profit strategies with Millennials.  

Watch the following clips on the issues and in a reflection page discuss how Heineken and other firms are adapting to Millennial shoppers.  How do you feel this will impact major industry sales?   Which industries do you think will benefit?  Suffer?  How is this tied to the closings of Toys R Us and Sears recently?

Micro Media F:  Millennials and the Labor Market

  Arguably one of the most important labor topics is the transformation of the corporate workplace as the millennial generation enters the labor market.  The clips below address the key concerns the nation has for millennials entering the workforce:  Clashes between Baby Boomers and Millennials regarding work ethic, approaches toward doing the job, and restructuring of the workplace are at issue.  

   Watch the videos and write a one-page reflection paper that reacts to the these topics as well as mentioned what your own personal concern(s) are heading into the workforce.  What areas mentioned in the video are you most worried about?  Are you worried at all?  How should companies adapt to clashing generations in the same workplace?

MACRO MEDIA ASSIGNMENTS

Macro Media A - Trump, China and a Trade War?

In the Spring, President Trump decided to to ahead with a plan to add a 25% tariff on Chinese imports into the US.  As a result, China has retaliated by threatening to implement high tariffs of their own on US exports to their nation.   After viewing both CNBC clips below, do you see this trade war as a benefit or a detriment to the US economy?  What sectors in the US economy would benefit?  Be harmed?  Do you agree with President Trump that this is the best way to level the unfair playing field when it comes to trade with China?  Explain in a one page reflection page.

Macro Media B:  Trump Federal Budget - Government Cuts (Almost)

Below are video clips dealing with the Trump Federal Budgetr Cuts and GDP Growth in 2018.  Based on what you have learned in class as well as these videos, what approach economically is Trump using to stir growth in America's economy?  Answer using the components of AD as well as AS shift factors.  How does this differ with Obama's stimulus of the economy?  Do you feel Trump's approach is better or worse?  Who specifically are the winners and losers? approach to growth 

2.

Macro Media C:  The Trump Economy - Hybrid Policies...good or bad?

Extending off the last Macro Media assignment, this assignment has you examine the effect Trump's economic plan has on corporate businesses, profits, job creation and growth.  So much of his plan is contradictory in nature that the end verdict is a guess by economists if it will be good or bad for our nation in the aggregate.  After viewing the clip, explain how his plan has both expansionary and contractionary fiscal elements.  Which parts of the plan do you support?  Oppose?  why?  What will be the most effective measures he takes?  Overall, will his plan be good or bad for America?

Macro Media D:  The Federal Reserve System - A Secret Conspiracy?

The Federal Reserve Banking System ranks up there in controversy with our Electoral College system in America.  The FED has its supporters and its opposition.  The extreme opposition the the Central Bank goes as far as developing conspiracy theory against the FED (or "Red Shield Bankers"), believing it secretly controls our government and the people.  Below are two rather humorous videos slanted toward a suspicion toward the FED Banking system.  After watching both videos, first summarize the accusations that opposition groups make toward the FED - why do they oppose it so vehemently?  Second, end your reflection with your own personal opinion about our Federal Reserve Banking System, grounded in economic thought.

Macro Media E:  2018 Predicted to Have a Weak US Dollar

Economist have predicted a continuing of depreciation of the US Dollar in the world market in 2018.   In a reflection paper, explain how the videos below justify economically this prediction.  What impact will this have on Americans?

Macro Media E:  2018 Predicted to Have a Weak US Dollar

Economist have predicted a continuing of depreciation of the US Dollar in the world market in 2018.   In a reflection paper, explain how the videos below justify economically this prediction.  What impact will this have on Americans?

Macro Media F:  Personal Course Reflection

Use this last Macro Media assignment to give a courteous, honest personal reflection of A.P. Economics your senior year.  What units and subjects did you find most interesting?  Helpful in life?  Which did you not like?  Was there anything you learned in the course that you were glad you did?  Surprised by?  Overall explain your personal experience in this class.

Instructor:  Mr.Magnani
 Kevin_Magnani@wrsd.net