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Topic #1: Current Environmental &
Economic Impact of the Gulf Oil Disaster
This summer’s oil
spill in the Gulf of Mexico is on record as the worst in history. According to Douglas A McIntyre’s 24/7WallSt.com
article, “at the beginning of the spill, 62,000 barrels of oil per day were leaking from the well….and scientific
teams estimate that about 4.9 million barrels of oil gushed from the well. “ (wallst.com 8/3/10). With such an
enormous catastrophe emerges a heavy impact on the immediate Gulf communities, their economies, the nations economic and environmental
health, and of course the depletion of natural resources ecosystems. The economic impact of the clean-up costs, as well
as the externalities given off to the industries reliant on the Gulf waters and oil supply are substantial. In a well-organized presentation, you are asked to focus on
the economics of the disaster. Begin with a brief overview of the cause and problems fixing the leak. Focus mainly
on the IMPACT the disaster is having in the Gulf region as well as the entire nation. What trade-offs need to be made?
What industries benefit? Suffer? What are all the costs (implicit, opportunity, explicit) involved? Organize your presentation by having students focus on one
specific group impacted (ex. Tourism, consumers, restaurants, residents of Gulf, environmental groups). Have another
group member focus on the brief overview of causes as well as possibly a proposal as to proper justice in the disaster –
what is an adequate punishment for British Petroleum (BP)? Include visuals (images, graphs) in presentation that reinforce
your points made.
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Topic #2: Economic Critique of Obama Stimulus Package
President Obama took on the challenge of our nation’s worst recession since the Great
Depression by announcing in December an $862 Billion dollar stimulus package of new government spending in our economy. The
hopes is that this new spending will “jumpstart” the slow economy by creating new jobs and bolstering sluggish
industries on the brink of collapse. A controversial component of the stimulus package was the “bailout”
of some large but failing companies, such as AIG and General Motors (GM), as well as the appropriation of bailout money to
individuals with home mortgages they could no longer afford, to avoid them losing their homes.
Some
argue the stimulus was the right decision, stating it eased the suffering of many citizens during tough economic times, offered
hope for basic survival, and prevented a very bad economy and job market from becoming much worse. Critics argue it
has done little, and in fact has worsened our economic crisis, by adding enormous government debts to our weak economy, while
giving bailouts to those that were personally or corporately irresponsible in the first place at the expense of those citizens
that were fiscally responsible.
In a
well-organized presentation, examine the central question of “to what extent has the Obama Stimulus Package aided the
US during this current recession?” In doing so, have each student examine a component of the program. Begin
with an overview of the recession and description of the stimulus package voted in. Have students examine areas the
stimulus money is targeted, who benefits, who is left out, and of course who shoulders the costs. Conclude with a group
proposal for fixing the recession – was Obama right to offer this stimulus? Are critics right that it has done
more harm than good? Is their a middle ground proposal? Do you endorse another economic policy instead? –
(monetarism, supply-side fiscal, etc.)
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Topic #3: A Study of Current Unemployment Crisis
Today’s
current recession has had a tremendous impact on hundreds of thousands of American families in the area of economic hardships.
With a fragile job market, hiring freezes, lay-offs and wage and hour reductions are an everyday occurrence in both
the private and public sectors. The number of United States workers unemployed is staggering, hitting over 10% during
the summer. This figure does not fact into the account those that gave up looking for a job due to the bleak hiring
picture. Mostly all economists feel solving the weak job market and lowering the unemployment rate is the first step
needed to an economic recovery. The problem lies in just how this is to be done – should the government create
state and federal jobs? Should it instead fund the private sector and have them create the jobs? What type of
jobs should come first? How do you aid the unemployed in the meantime, and to what extent?
In a well-organized presentation,
report on the current unemployment crisis in America. Divide your duties among the following areas – (a) unemployment
statistics among regions of US, hardest hit sectors, demographics; (b) current federal and state governmental solutions /proposals
aimed at combating the jobless market, (c) case studies reflecting the true impact the crisis is having on everyday Americans
(d) report on how the high unemployment rate is effecting the management-side of the economy (employer / business sector);
(e) a proposal on the best economic remedy to battling the crisis in terms of job creation and unemployment compensation rules.
NOTE: It is expected that this presentation topic
should give ample opportunity to incorporate visuals or media to be effective (ie. Interview, economic graphs, etc)
Topic #4: Economic Critique of “Obama Care”
on Economy
The on-going national debate as to how to fix a flawed and costly health care system in America
resulted in President Obama and his Democrat Party announcing a massive overhaul of the private health care system.
“Obama Care”, as it has been nicknamed, is a move toward nationalizing (monitored and controlled by federal government)
the current private health care system in the nation in order to control costs, cover more Americans, and eliminate high profits
made by drug companies and insurance agencies. “The Patient Protection and Affordable Care Act (PPACA) was signed into
law on March 23, 2010, along with the Health Care and Education Reconciliation Act of 2010. Both laws will expand Medicaid
(coverage for poor) eligibility, subsidizing insurance costs, and providing incentives for businesses to provide health care
benefits. The costs of these provisions are offset by a variety of new taxes placed on upper and middle class.” (Wikipedia)
President
Obama’s steps toward health care reform have touched off a massive debate in America. Some feel it is long overdue,
citing the millions of lower class Americans unable to afford basic coverage. Critics argue the fairness of mandating
that working Americans subsidize through taxes the coverage of those that cannot afford health care. Yet still others
argue reform is needed, but question whether the government should be controlling health care, citing the loss of consumer
choice, freedoms and competition within the industry.
In a well-organized presentation, examine
the benefits and drawbacks Obama Care will have economically on the nation. What economic impact will this large overhaul
have on the various sectors of the economy? On the national deficit? What are the opportunity costs? – are
they worth it in the short and long run? Divide your tasks to include (a) a factual introduction to the components of
Obama Care and the current problems of our health care system (b) critics perspective of economic consequences (c) supporters
arguments as to effectiveness and how it will aid the US economy, (d) an examination as to the issue of economic equity vs.
efficiency, esp. in the area of costs of the program, (e) a summary consisting of group recommendations on health care reform.
This presentation has ample opportunity for graph, media, interviews of case studies and statistical visuals –
please utilize these in support of your presentation.
Topic #5: Current Economic Impact of Illegal Immigration in America
One of the hottest, if not the hottest, topics currently discussed in our
nation is the debate over illegal immigration. With both a Post-Sept. 11th nation now concerned about terrorism and
a recession crippling the job market, conservatives have called for a tightening of our nations borders and a plea to Pres.
Obama and Congress to enact tougher policies toward undocumented citizens (illegal immigrants). Conservatives cite issues
of national security, as well as the economic costs on American taxpayers of paying for illegal immigrants (health care, education,
taking away of jobs). Recently, Arizona took matters into their own hands by passing a new state law granting its police
more power in efforts of finding illegal immigrants within their state. This law touched off a great divide in America
between state governments in support and others (such as Massachusetts) actively boycotting Arizona in protest.
Critics argue the problem is so big and so rooted in America that mass deportation of illegals is implausible,
immoral, and more costly. Some cite that amnesty (allowing them to stay) is best as they help the economy by taking
the low paying jobs most American do not wish to do. Conservatives point to the fairness of having legal citizens subsidize
the livelihood of those here illegally, esp. during tough economic times where resources and jobs are scarce.
In
a well-organized presentation, explore the current illegal immigration debate in America. The presentation should focus
on the ECONOMIC IMPACT of the problem and proposed solutions. Please DO NOT deliver a presentation merely on ethics,
emotions or law. Divide your duties to include a focus on (a) the overall costs of illegal immigration currently on
the nation, (b) the specific impact (pos or neg) undocumented citizens are having on the business and citizenry including
economic data to support (c) a study on the current proposals put forth by both sides and their trade-offs, (d) a case study
on some kind from a particular point of view on the issue, detailing the economics of the issue, (e) a proposed group recommendation,
founded in economics, to the problem of illegal immigration
Topic #6: U.S. Crisis in Education – Economic
Study on Funding Public Schools & Skyrocketing College Tuitions
American public education has been under attack
in recent years due to its under-performing results coupled with the need for more funding from taxpayer dollars. There
exists no shortage of opinion in where the blame lies – some argue teacher unions, others argue modern parenting, and
still others blame the structure and standards of the institution. With all its struggles, parents and taxpayers are
arguing that the money appropriated in their taxes for free and appropriate public education is not realizing any positive
return.
At the same time, private education, particularly in the colleges and university tuition, is becoming
ever so expensive, if not unaffordable, to the average middle class family. For the first time in modern US history,
economists argue that parents will not be able to provide equal or better opportunities for their children, esp. in the area
of higher education. The compounded problems of a free but failing public education system coupled with the alternative
of an unaffordable higher education system has left Americans concerned about our children’s’ (and our nation’s)
future.
In a well-organized presentation, explore the crisis points in today’s America education system,
with focus on the problems of under-performing public schools and rising tuitions in higher education. Divide your tasks
up by addressing: (a) a detailed report of the two problems currently, with data, graph and statistics to support; (b) a case
study illustrating the problems as real and concerning (c) a cost-benefit analysis on each problem, concluding economically
if each if a good investment (d) the economic consequences and impact both issues are having (or will have) on the US economy
as a whole; (e) a proposed group recommendation, founded in economics, for both problems addressed.
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