Scarcity, Opportunity Cost, Wants, Markets, Law of Demand, Law of Supply, Market Failure, Unemployment Rate, Structural Unemployment, Human Capital, Inflation Rate, Gross Domestic Pr

REFLECTION PAPER

YOUR TASK • Scarcity, Opportunity Cost, Wants, Markets, Law of Demand, Law of

Supply, Market Failure, Unemployment Rate, Structural Unemployment, Human Capital, Inflation Rate, Gross Domestic Product, Consumption, Economic Growth, Supply Side Fiscal Policy, Taxation, Public Debt, Fiat Money, Cryptocurrencies (Bitcoin), Liquidity, Trade-off between Risk and Return, Monetary Policy, and Saving.

Choose one concept from the list above, and write a paper a 1,000 to 1,200 word paper (1,000 words is the absolute minimum) in which you state a response to the following prompt;

"Before completing the assignments (Discussions, Case Studies, and Homework) in this course I thought about (one of the concepts from the list) in this way …, now I think … ".

ABOUT YOUR RESPONSE You are free to organize and arrange your sentences and paragraphs in any way you see fit, but your response MUST at least have the following 5 elements:

• It must state and define the concept or idea.

• It must explain how you viewed or understood the concept before completing the course assignments.

• It must explain your new way of viewing, or understanding the concept.

• It must say the reason why your perspective, or understanding changed. In other words, what did you do, see, or hear as a result of completing the assignments that helped transform your opinion.

• It must have information, data or facts, that supports the reason for your change. The information, data or facts can be presented in the form of an example, or as part of an explanation, but it must be explicitly connected to at least one of the assignments.

As you produce your response, you should also consider the following:

• The implications of the change in perspective. In other words, now that you see this concept in this way, what are some of the things that will come after? What will you do differently? What follows? Also, analogies and metaphors are a great way to illustrate how one views a concept or an idea.

INSTRUCTIONS FOR SUBMITTING YOUR RESPONSE • When submitting your response, DO NOT INCLUDE your name, date, or

any other information, just the response to the assignment question. If appropriate, cite references using in-text APA citation style. In-text citations are placed within sentences and paragraphs.

• Make an attempt stick to the 1,200 word maximum, any content written in excess of the 1,200 word maximum may not count towards the grade. Papers not meeting the minimum requirement of 1,000 words will receive a ZERO.

• Type your response on a Microsoft Word file (.doc or .docx file), save it, and upload it through D2L. You MUST submit your response to the appropriate assignment folder by the due date. Work turned in using any format other than MS Word (.doc), may not be graded. In addition, work turned in late, via email, in my mailbox or in class WILL receive NO CREDIT. Consideration MAY be given on late assignments for valid documented emergencies.

• To submit your response, you will need access to internet, and a computer with proper software, if you don’t, you can use any of the "open lab" computers at any BC Learning Resource Center or in public libraries. No consideration will be given for not having access to the hardware, software or any other resource required to access the D2L platform.