With reference to the business cycle, explain how economic recovery (and the resulting "boom") will eventually lead to recession and "bust". (If you prefer, you can instead explain how recession/bust leads to recovery/boom.)

Briefly explain whether or not you think globalization, on balance, has a positive economic and social impact on the world (make reference to several of the pros and cons in your answer).

Briefly discuss how game theory, behavioral economics, or Freakonomics can be useful in making better decisions (both in terms of economics and in your everyday life). Provide at least one example as part of your answer.

In your own opinion, how do you think measuring economic development can empower a country's people.