1.Develop an index that will rival the big mac index. Theory Explain the law of one price, ppp, overvaluation and undervaluation. 30% Criticisms Violations occurs: Tariffs and quotas, Transaction costs, Difficulty in finding buyers for some goods, Noncompetitive & segmented markets, Sticky prices & Number of borders around country 50% New idea A new index (corona index, make up index, etc) 20% 400-1000 words