MICROECONOMICS WRITING ASSIGNMENT # 1 Directions: Complete the following writing assignment using complete sentences and in paragraph form. Include a works cited section in your assignment. Assignment should be approximately 1,500 words (3 pages single spaced (6 pages double spaced), 1 inch margins, 12 point Times New Roman in Microsoft Word). Type, print out assignment and turn in by due date. Writing Assignment Topic: Define and explain economics and scarcity. Give examples of situations where you have to make economic decisions in your everyday life. Compare and contrast the main points of macroeconomics and microeconomics, including real world examples. Explain the principle of opportunity cost in detail including a real world example for a business or industry and also examples in your everyday life. Acceptable Sources: ​Microeconomics, 21th Edition; McConnell, Brue, and Flynn, McGraw-Hill Publishers (or editions 18,19,20) ​Macroeconomics, 21th Edition; McConnell, Brue, and Flynn, McGraw-Hill Publishers (or editions ​18,19,20) ​Course Powerpoint Slides (include the section title) ​www.bea.gov (Bureau of Economic Analysis) ​www.bls.gov (Bureau of Labor Statistics) ​www.irs.gov (Internal Revenue Service) ​https://www.barrons.com/market-data Rubric for Assignment: ​CONTENT:​80% ​This includes: Complete; answers all parts of assignment ​Good detail and explanation provided in your answers ​Use of examples to demonstrate grasp of concepts ​ ​INSTRUCTIONS & FORMAT: 20% ​This includes:​Following all instructions/directions of assignment ​Correct format: APA, MLA or Chicago, works cited included ​Sources cited throughout paper (or footnoted) ​Good spelling, grammar and punctuation ​Submitted in a word doc or PDF thru BlackBoard by the assigned date ​ ​TOTAL: ​100% ​Works Cited


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