Is price gouging ok?

Watch the video above, and discuss whether or not price gouging should be allowed? Should the government step in and help dictate the price, or should consumers let the market decide what the price should be? What are your opinions on this and why?

Word Count Minimum: 300

Wiki in Classroom

End Trade Embargo With Cuba?

This week's blog will focus on international economics and specifically with the United States' current trade embargo with Cuba.

Please read the article below about the possibility of easing restrictions of trade with Cuba.

Once you have read that,answer the following question: Should the US lift its embargo on trade to Cuba? Please use economic terms (comparative advantage, trade gap, GDP, etc.) in support of your argument.

Due Sunday 3/21 @ 8pm

Behind the Scenes of the Hayek/Keynes Rap Video

So now that we have all watched the infamous Keynes/Hayek rap video, its time to go behind the scenes and the video explained to us.  Please watch the video (about 10 minutes) and answer the following questions:
1) What happens when the government increases its spending to help people hurt by the recession?

2) Whose side would you take in the rap battle? Explain your answer?

3) Do you believe that it is the role of the federal government to spend taxpayer money to create jobs? Why or why not?

Due Sunday 3/14 @ 8pm.

Extra Credit Blog -- I.O.U.S.A. Reflection

This week's blog is purely extra credit, and it is blog that reflects on the movie you watched last week I.O.U.S.A. about our national debt problems.  You are to write a 400/500 word post reflection on the movie including analysis of who is to blame for the national debt, and what our country needs to do to recover from it.  This post is due by Friday at midnight. 

Feel free to use this site to help you with analysis (thanks to Richie Starzec) http://finance.yahoo.com/news/Americas-hidden-debt-cnnm-3752158852.html?x=0&mod=loans

Word Count 400+

Due Friday 3/5 @ Midnight. 

Week 7: Extra Credit Post

This week's blog post is available for extra credit purposes only.  There is no regular blog post this week. 

For this week's post, students are to read a few post on John Stossel's (pictured above) blog from Fox Business News.  Students are to pick 3 different posts (click on "Browse Posts" about halfway down on the right to view more posts) to read and respond to.  Be sure to include the title of the post and YOUR opinion on the post. (Do NOT just summarize the post...tell me what you think).  Is this guy full of it or should he continue to preach on? Why?  Pick some posts that appeal to areas you are interested in. 

You must read/comment on all 3 posts for the 3 points.  Partial credit will not be given for this assignment. 

Due by Friday 2/19 @ Midnight

Word Count 300+

Week 6: Problems for Toyota

Problems continue for the #1 automaker in the world, Toyota.  Last week they started recalling several different models for sticky gas pedals and this week the #1 selling hybrid the Toyota Prius are to be recalled for problems with their brakes. 

For this week's blog, we are going  to flashback to Microeconomics and explore the consquences of this situation for Toyota, its competitors, and the auto market in general.  While I know it is tough to graph on this blog, I want you to think about the S/D graphs for Toyota, its competitors, and the auto-industry.  I also would like you to think about the firm graph for Toyota (does Toyota operate as PC, Monopoly, Monopolistic Compeititon, Oligopoly?).  Instead of graphing, describe what is happening in each of those 4 graphs (what line is shifting, what changes are occuring, etc.).  Then, when you are done, find an article online that supports your argument.  Explain why you chose that article and use at least 2 quotes from the article that support the changes you made on your graphs.  Please cite the article in your response. 

Due 2/15 (extra day thanks to President's Day!) @ 8pm.