ECON 103 Stetson University Impact of Outsourcing on the Economy Paper
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Macroeconomics topic for paper#2
IMPORTANT Guidelines for paper
1. You are doing a short research paper. Therefore, you need come up with
research questions or thesis. Think what interests you in what we cover in the
class.
For example,
o If you are interested in outsourcing, your research questions could be Is
the US better off or worse off because of the outsourcing to China?. Then
you go do a research on it. Find academic articles or news articles that
support and/or against outsourcing.
o You do research by reading those articles that you found and then
combine the information you find into a unified paper that represents your
fully formed expertise. The key to the whole thing is “combining,” so as
you do your research, look for facts and information that go well together
and help explain (or disagree with) each other
o You may start with your introduction and research questions. Then start a
second paragraph with a short explanation of what is outsourcing and
state facts such as how many dollars or how many jobs the US
outsourced to China in 2010.
o The paper must show an analysis of a real world outsourcing situation
such as what are the problems with the outsourcing, why there are the
problems, how to fix the problems, what the pros and cons of each
solution are, and how it will affect consumers who buy imported goods at
Walmart or exporters to China.
o Warning: You should have one or two research questions or more
depending on your interest. If you only have one research question for
your whole paper and that question is what is outsourcing, for example,
you basically just look for a definition or a textbook explanation. This will
NOT be a good research paper. This is NOT a high school paper.
o A paper that only provides definition, textbook explanation, or news/facts
reporting will NOT earn good scores. You are not writing a dictionary or a
textbook or a newspaper. You are writing an economics research paper.
o Do not get stuck on picking a cool topic or a topic with economics
keywords. If a high school paper is about a topic, a college paper is about
research question(s) or thesis statement. A topic such as pregnancy can
be good topic if the research question is, for example, what are the
opportunity costs of pregnancy before finishing high school comparing to
after finishing high school and college.
2. The topics and articles provided here are just examples. You are not limited to
these topics. You can pick any topic that related to what we cover in exam#3.
3. You should look for more articles for your research. In order to get an A for
paper you must use at least four news articles for your research. If you use only
the article that I provide here, it will only give you a maximum of a C+. So, go
out and find more articles that compliment your research questions.
Tips:
Do not to use spoken language in academic writing. Write from 3rd person
perspective
Do not use contraction in a formal writing.
National Debt good, bad, or necessary
Applied Topics: Fiscal Policy, Economic growth, Unemployment
Research Questions:
1. Is increasing national debt bringing down our economy?
2. Do other developed countries have high national debt (debt to GDP ratio) just like us?
Why do most developed countries have high debt? Why countries with low debt are
mostly less developed countries?
3. Is there a bigger problem than debt that we should be concerned? Why?
Possible articles to answer the research questions (dont forget to find more articles)
https://www.economist.com/content/global_debt_clock
https://hbr.org/1993/07/is-the-deficit-a-friendly-giant-after-all
http://www.thecrimson.com/column/full-faith-and-credit/article/2009/12/3/deficit-debtunemployment-budget/
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[This paper is an A paper but it is not perfect. Read it to get some general ideas of what you are
expected in this assignment.]
The president and congress promised Americans a healthcare reform that increased
access to health care and create greater choices. Instead, lawmakers passed a law that requires
nearly all Americans to carry health insurance or pay a fine if they choose not to be covered.
This government approach limits choices and increases health spending. The American health
care system does need reform, but not the changes brought out by the new health care law (AKA:
Obamacare). This health care reform expands insurance coverage by requiring that people
obtain it. What are the effects of the reform on our economy and our government budget? How
would it affect our demand and supply of health care?
Peter Grier, wrote in his article included in the money central section of msn.com that,
the new legislation mandates most U.S citizens and legal residents purchase minimal essential
coverage. Coverage should include their dependents, and should be purchased through an
employer or an individual company. He also states, if you ignore the mandate and dont get
health insurance, you would pay a penalty to the federal government, beginning in 2014. The
president promised all individuals could keep their own healthcare plans. Now, we have a law
that gives control of health care benefits to the federal government.
Can Congress require millions of individuals to buy a commercial product? That
question was asked by Newsweek reporter Simon Lazarus who states congress would turn that
question around into something like, Can Congress ensure that all persons have access to
affordable health insurance, even if they have pre-existing conditions? If that is the case, the
demand for medical services would increase. Anyone can buy insurance without limitations to
pre-existing conditions. Individuals who may have previously held out on services that could
possibly be extensive will now have access to insurance. Lazarus reports, once insurers can no
longer turn any applicants down, more healthy individuals will forego insurance until they
actually get sick or injured. This will in turn cause premiums to rise, which will be a domino
effect for more healthy individuals to drop their plan due to cost, and so on. Larzarus goes into
detail of this example by recalling the death spiral scenario that occurred when seven states
enacted pre-existing condition protections without and individual mandate. They experienced
double- or triple-digit premium increases.
So, demand for medical services is up but what about supply? Bill Conerly, Ph.D and
author of Businomics Blog reports, virtually all training programs for health care professionals
are full. Including training to be doctors, nurses and various technicians, educational programs
are fully subscribed and were before the reform. This would translate to no increase in supply.
One would assume with this situation health care workers wages would increase and medical
procedures would be more costly, thus trying to make up for the ill effects of the reform. With
demand increasing and supply staying the same wouldnt care be affected? Individuals whom
have carried insurance in the past who are used to getting quality healthcare will be waiting with
the newly insured causing increased wait times for appointments and procedures.
The newly signed health reform law has had an effect on how small and even large
companies are handling availability of health insurance for employees. Blog.bioethics.net is
written by Summer Johnson McGee, Ph.D she explains a recent study done by top-notch
consulting firm McKinsey suggest that as many as 30% of employers planned to drop health
insurance benefits when the new law was to go in effect. McGee reports that 30% is the same
figure McKinsey discovered would be the percentage of employers likely to gain economically
from dropping insurance coverage as a benefit. Current research states, even if employers stop
providing health insurance benefits, few if any employees would seek different employment.
Since the new health care reform law was signed, the amount workers pay in health care
premiums has soared an average of nearly 14 percent; thousands of businesses have sought
waivers in search of relief from the laws mandates; medical device makers have slashed jobs
and research; and private individual health insurance markets are in bad condition. Is this really
the answer to the governments financial problems? This law containsunfair taxes, atypical
mandates, deficit spending, and a law that requires millions of Americans to now be insured.
The share of health care expenditures borne by federal, state and local governments has
increased over time. There is some evidence that governments are cutting down on health
expenditures by reducing reimbursement to providers, increasing patient cost sharing, reducing
eligibility and generosity of public insurance and reducing expenditures on other sectors of the
economy. However, more research is needed to systematically analyze the effects of rising health
care expenditures on government budgets and expenditures.
Works Cited:
Conerly, Bill. “Health Care Reform: Supply, Demand, Price Effects and Shortages.” businomics
blog.N.p., Mar. 2010. Web.
Grier, Peter. “Health care reform: who must buy insurance?” msn. N.p., n.d. Web.
Lazarus, Simon. “Framing the Debate over Health Reform.”Newsweek.N.p., Oct. 2010. Web.
McGee, Summer J. “Unintended Effect of Obomacare.” blog.bioethics.N.p., June 2011. Web.
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Explanation & Answer:
4 pages
Tags:
outsourcing
impact
Economy
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