Econ 111 Spring 2021 T. Tung

Econ 111 Homework 1

1. Consider the following questions:

(a) Give an example of a complicated real world issue/problem.

(b) Why is this issue/problem difficult to analyze? (Hint: Give an example of some of the inter-related variables that exist.)

(c) What are someassumptionsthat you would implement to facilitate analysis of this issue/problem?

(d) Who could potentially benefit from further economic analysis of this issue? Be specific.