Write an essay of 1500 words. The essay should focus on the principles of clarity, organization of information and presentation. Once you choose your topic of analysis, focus on the main points for development. Effective organization depends on the structure of the essay. There must be support ( specific evidence – tables, charts etc.) and development of ideas. Clarity of the essay will depend very much on the organization, support and development of the ideas of the essay. The essay will be evaluated on the clarity of organization, logic, syntax and grammar.

The due date for the term paper is:30th of july. There will be a penalty of 1% for every day of late submission.

Topics: You may choose any one of the following topics:

1. The economic approach is a comprehensive one that is applicable to ALL human behavior. Do you agree? Give examples of situations in real life where the “economic approach” plays a fundamental role.

2. The market system is often criticized especially in the context of markets for Bodily organs, Insider trading etc.Do you agree that markets are advantageous? Why? What special services do they perform?

3. “There is no such thing as a free lunch!” What are the economic implications of the above statement. More specifically comment on the Nature of Products and Pricing strategies especially with respect to (1) Experience Goods (2) Network goods (3) Addictive goods.

4. It has been concluded from research that given the quality of the Professor economic theory suggests that “the professor’s grading structure can distort student evaluations” Do you agree?What are the findings to back up your conclusion?

5.”With tenure, professors have the equivalent of lifetime employment. Rarely are they fired by their academies, even if they prove to be incompetent to teach or conduct research.” What role does tenure play in Universities? Do you agree with the role of tenure?What are the advantages and disadvantages of the tenure system?

6. It is generally believed that the wage gap between men and women in the workplaces of the world can be attributable totally to political, social, and economic forces, that when countered will cause the wage gap to evaporate. Do you agree with this assessment?What are the arguments raised by McKenzie and Tullock to explain the existing gap?