30 Aug Economics: Private and Public Choice, 16th edition, by Gwart

Economics: Private and Public Choice, 16th edition, by Gwartney, Stoup, Sobel, and Macpherson. Purpose In economics, we learn and discuss many concepts and ideas about the economy and life. However, these concepts can be abstract and not applicable to the real-world. The purpose of this assignment is to help you relate real-world events with economic concepts and principles. Through critical analysis, you will make sense of real-world events through economic thinking and demonstrate your understanding through writing. Task Please choose a podcast within the last 2-3 weeks from the Indicator (https://www.npr.org/podcasts/510325/the-indicator-from-planet-money). These podcasts are about 10 minutes or less and cover an economic issue. You may want to listen to several podcasts before choosing one that interest you.After listening to the podcast, write a short paper that addresses these following questions in 3 paragraphs:Paragraph 1: In your own words, summarize the ideas from this podcast. What topic/question/concept is this podcast trying to address? This paragraph should have at least 300 words or more.Paragraph 2: What does our textbook say about this particular issue? Use the textbook to define and discuss the issue or concept. Please reference the chapter, section, and page number. This paragraph should have at least 300 words or more.Paragraph 3: Why did you pick this podcast? Why is this particular podcast and topic interesting to you? How are the things discussed in this podcast applicable to your life? This paragraph should have at least 400 words or more.As your write your analysis, please make sure:You choose only podcasts and topics you are truly interested in. This will make your writing much easier and you will learn so much more if you choose something you are actually interested in. Only choose podcasts within the last 2-3 weeks. The podcast must come from the Indicator and nothing else.Include the title of the podcast and the date of the podcast at the beginning of the paper.Write your paper in a Word document. Please keep your font size consistent at 12Use complete sentence and proper grammar. Your writing should be direct and concise. Please avoid run-on sentences. Grading Criteria Analysis Paper Grading Format Criteria (3 points): Word documentFont size 12Title and date of podcast at the beginning of the paper Paragraph 1 (8 points) 8 5 3 0 Major points are addressed and are well supported. Content and purpose of the writing are clear. 300 words or more in paragraph. The summary recalled some information but left out several important points. 250-299 words in paragraph. The summary was inadequate and too brief. Most of the information was left out or incomplete. Points are unclear. 200-249 words in paragraph. Did not include summary of podcast or paragraph is less than 200 words. Paragraph 2 (8 points) 8 5 3 0 Explanation demonstrates outstanding level of critical evaluation and thinking about evidence presented in the podcast and application of economic principles. Included appropriate references in textbook. 300 words or more in paragraph. Explanation demonstrates good level of critical evaluation and thinking about evidence presented in the podcast and application of economic principles. Included appropriate references in textbook. 250-299 words in paragraph. Explanation demonstrates poor level of critical evaluation and thinking about evidence presented in the podcast and application of economic principles. Did not include appropriate references in textbook. 200-254 words in paragraph. Did not include any discussion of economic concepts and definition or paragraph is less than 200 words. Paragraph 3 (7 points) 11 7 4 0 Included thoughtful reflection of topics and concepts. Demonstrated personal application and interest in topic/concept. 400 words or more in paragraph. Demonstrated good level of reflection and personal application of topic/concept. 300-399 words in paragraph. Demonstrated poor level of reflection and personal application of topic/concept. 200-299 words in paragraph. Did not include any personal reflections to the podcast or paragraph is less than 200 words.