Normative Statements

• Open the discussion with a brief introduction to the topic. For example, you might use something like the following. "Like many disciplines, economicsuses specific terminology to ensure complete understanding of the concepts employed.
• Define the assigned term
• Provide an original, economics-based explanation of the term.
• Provide a real/hypothetical contextual example (different from that provided in the text) of the term as it is applied to economics.
• DO NOT just list the above in bullet-point style.