OPTIONAL PAPER for Econ 102 PROFESSOR WILLETT

There are several options for the paper.

One option is to critique a popular article such as appears in Foreign Affairs and other policy journals or two op ed pieces from papers like the New York Times, Wall Street Journal and Financial Times that deal with policy issues.

These should deal with some area of economic policy dispute. You should summarize the arguments and analyze their logical structure(or lack there of),what implicit or explicit theories the analysis is based on the evidence presented to support the arguments. Also discuss whether accurate characterizations are given of opposing views. You may also want to comment on the likely political feasibility of policy proposals.

Alternatively you may take two or three arguments from a book and critique them. You should be sure that there are parts that you feel you can criticize.. The papersby Krugman and by Cochrane on what the crisis says about schools of thought in macroeconomics are good candidates. These are on Sakai.

Some of the books and articles listed on the reading list are good candidates. Another option is to prepare an options paper for the President like we used to have to do when I was on the staff of the Council of Economic Advisers.

Here we would deal with some economic problem. First we would give a brief statement of the key aspects of the issue. Then we would present three or four possible policy options for dealing with the problem and analyze their major pros and cons. We would do this from both economic and political perspectives.For this paper you should focus on the economic pros and cons, but include discussion of what major groups would gain or lose economically form the different policy options. You may then give a recommendation, but your grade will not depend on this part.

You could also analyze some economic problem in which you are interested.

Papers should be short, say around four to eight pages, and to the point. Pretend they will be read by busy, high level policy official so that bringing in material that is not directly relevant will count off.

Your topic must be approved to make sure its feasible. A short paragraph or two indication of the topic you want to explore. These should be turned in by class time on March 25 at the latest.

Papers are due by Wed, April 29 at the latest