ADM 614 Economics for Public Administrators Entire Course
ADM 614 Topic 1 Discussion 1
The economic way of thinking requires administrators to incorporate eight principles. One of the principles relates to “tradeoffs” and another principle relates to “opportunity costs” for scarce resources. Describe how public administrators must make trade-offs by assessing opportunity costs relating to scarce resources.
ADM 614 Topic 1 Discussion 2
Explain how scarcity and poverty are different. Give examples to support your reasoning.
ADM 614 Week 1 Private Ownership and Markets
Read the case study on page 27 “Protecting Endangered Species with Private Property Rights.”
Write an essay 1,000-1,250 words, answering the following questions:
Economists argue that scarcity is different than poverty. To understand why many wild animals are scarce we need to look at scarcity in the context of private property. Explain how scarcity is affected by private property rights in the case study.Compare and contrast how incentives accompanying private property rights can both help protect and endanger the rhino, an endangered species.Be sure to
cite at least three relevant scholarly sources in support of your content. These sources can include trade journals and think tank reports. Use only sources found at the GCU Library or those provided in Topic Materials.This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.
ADM 614 Topic 2 Discussion 1
Assess discrepancies between public budgets and public needs. Explain the relationship between the public budget and the demand for public goods.
ADM 614 Topic 2 Discussion 2
Markets and government both allocate scarce resources. Please explain how government adjusts market outcomes though subsidies and whether Pareto efficiencies are achieved. Discuss the role of subsidies in the Affordable Care Act as explained in the assigned article “How Millionaires Get Obamacare Subsidies Intended to Aid the Poor” by Managan.
ADM 614 Week 2 Supply and Demand
Create a PowerPoint presentation of 12-15 slides (not including the title and reference slides) discussing supply and demand in the public sector. Include the following:
Choose an economist discussed in Chapters 3-4 and explain that philosopher’s market theory.
Explain demand theory. Discuss factors that cause changes in demand and quantity demanded.
Explain supply theory. Discuss factors that cause changes in supply and quantity supplied.
How do changes in supply and demand effect market price and quantity?
Explain the implications of tax on both supply and demand.
Discuss the black market and government’s response. How do the laws create higher risks for suppliers? Explain.
Be sure to include graphs, charts and other visuals in your presentation that will enhance your analysis. Include slide notes containing explanations and rationale.Be sure to cite three to five relevant scholarly sources in support of your content. Use only scholarly sources found in the GCU Library or those provided in Topic Materials.This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
While APA Style format is not required for the body of this assignment, solid academic writing is expected, and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide,located in the Student Success Center.You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.
ADM 614 Topic 3 Discussion 1
Explain the difference between government failure and market failure. Discuss the role of government in a market economy to address market failure.
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