Good topics for an economy paper??
Wanted to do Diamonds since i seen Blood Diamonds, but i just don't know how to write it, like how does diamonds effect the economy i tried every site but i can't come up with a good answer.
SO IF U HAVE ANY IDEAS ON A TOPIC OR WHERE I CAN FIND THE RITE INFO FOR DIAMONDS AND DON'T MIND SHARE'N RITE BACK
thx bunches
Answer:
The role of energy in world economy? Petro industry and petro dollars impact.
The minimum wage was recently increased. Some people think it will cause inflation. Others think it will empower the "working poor" and make them more self-sufficient. You should have no trouble finding writings on the topic.
money made by global warming
The interesting thing about diamonds is that they are mostly controlled by one company: De Beers. However, they don't have much effect on the economy.
Have you considered writing about the third world in general? Or how about globalization? I suggest "The World is Flat" by Tom Friedman, if you haven't read it already.
The market for diamonds strikes me as much more a micro topic than a macro topic, though I think that it's good you're considering something that you are personally interested in.
That said, do you have any interest in how the tax code affects economic growth? I don't think that there are any blockbuster movies on this topic, are there (too boring?)? But I find it quite topical in the sense that there seems to be a strong popular impulse to "soak the rich" for tax revenue. You might explore this topic in the context of the facts that (1) current tax revenues are at an all-time high in the U.S., (2) the wealthiest 1% of U.S. citizens have paid 35% of these taxes, and (3) there is currently work on legislation to impose tremendous tax increases on U.S. citizens, particularly the wealthiest citizens.
As I said before, you should write about something that you are personally interested in. But since you asked for others opinions, I gave you mine.
I love diamonds but unfortunately the diamond monopoly has little to do with macro. Macro is broader - it's economy wide issues not industry wide. And since diamonds are a luxury good and have little impact on the economy as a whole it wouldn't make a good macro topic.
I like the first guy's answer - minimum wage. It's politically controversial because many dems feel raising it will help poor Americans. You can break this logic down and expose the economic fault to this line of thinking (like the other person said).
You can discuss how minimum wages can exceed the market clearing wage resulting in unemployment. This is a dilemma: raising the min wage will help some people - but the help is only marginal. Think about it - if you're earning $6/hour how far will this actually go? Will an extra $0.50/hour really help you in a way that impacts your life (even though an extra fifty cents is significant percentage increase)? I say no - although "any amount" of money would help the poorest people in some sense it won't allow them to send a child through college or pay to take a child to the doctor. At best, an extra $4 a day will allow them a new clean t-shirt or help with food.
Meanwhile, what about the formerly-employed people who have been displaced because of the increased burden on employers?
Personally, I think a lot of large businesses are too stingy towards employees, employees who work harder than is reflected in their paychecks. However, there are lots of minimum wage earners worker for smaller businesses who really can't afford to pay more. What happens to these unemployed people?
One study found the opposite effect - increased employment. Why? Fringe benefits decreased and employees who were paid above the minimum wage had their wages reduced to offest the increase in min wage. Just food for thought!
Ultimately you have to explore if this trade-off is worth helping a small few while displacing others.
A great topic for macro is to talk about the effects property rights have on any number of markets. This stems back to Adam Smith and the basic principles of economics. There is a great book called "The Armchair Economist: Economics in everyday life" That discussions how markets were and are developed and made efficient by assign property rights where there were none beforehand. An example was the elephant populations in Africa. A local tribe was assigned property rights to the herds. Since they had a personal interest in elephants thriving they had the rights to sell those elephants, sell the rights to hunt them, but also had a more important role in protecting them b/c it was a way for their tribe to thrive.
Property rights are a great topic b/c it is where all economics stems from and how the basic principles of economics were derived.
Feel free to email me or IM me if you want more suggestions I'll be happy to help.
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