Purpose: To develop the skill of making and assessing economic arguments and to deepen understanding of the economic concepts introduced in Chapters 4 and 26.

Context: Normative economic statements are economic policy goals and values (opinions). There are two types of economic goals: efficiency and equity. We will begin with efficiency.

Consider these policies:

One: Large taxes on energy companies whose production activities cause environmental damage (assume a negative externality).

Two: Significant local government-sponsored prize awards for the best home gardens (assume a positive externality).

Three: Protective tariffs on goods imported from China. (related to Chapter 26 reading)

Task: Make one substantive but the succinct post normative Economics (Efficiency) Forum