For this writing assignment, you will be given an economic podcast and will be asked to critically evaluate it. You will be graded on the quality and thoroughness of your analysis. Therefore, you will also be graded on the clarity, flow, and overall cohesiveness of the writing in your paper.
https://freakonomics.com/podcast/doughnut-economics/ (Links to an external site.)
In the podcast, economist Kate Raworth introduces a new economic framework called the “Doughnut model.” She argues, “the blind pursuit of economic growth leaves out too many people and puts too much strain on the planet’s resources,” which runs counter to our understanding of traditional economic thinking. Imagine you are an economist and the President of the United States asks you to critically analyze the “Doughnut model.” Based on your analysis, you are to make a recommendation to the President.
Follow the paper outline below:
Introduction (5 points): The introduction (first paragraph) briefly summarizes what you consider to be the main point(s) of the article. If there are many, focus on the one(s) that you will analyze in the assignment.
Summary (5 points): A short summary of the podcast should be included. This summary should capture the key points presented in the podcast and any important facts or elements. Do not spend the whole assignment summarizing the entire article. Summaries should be succinct and to the point and be approximately one paragraph.
Explain the “Doughnut model” (15 points): The President has heard about the Doughnut model but does not know enough to enact a policy. In this section, you need to explain what the Doughnut model is (i.e., you will need to research this, going beyond what has been explained in the podcast). Do not simply draw or insert a graph of the Doughnut model and/or summarize the podcast. You need to explain the Doughnut Model using the graphs/models covered in class. In other words, you need to apply the supply/demand, AS/AD, Phillips Curve, and/or any other macro related concepts covered throughout the course. For example, if the Doughnut model specifies a specific policy, you need to demonstrate that policy. Assume the president has taken this course and only understands macroeconomic theories in the context of the theories covered in class. You are expected to demonstrate the Doughnut Model using at least one of the concepts covered in class.
Critical Evaluation of the “Doughnut model” (20 points): This is the most important aspect of this assignment.
Students should focus on whether they agree/disagree with the Doughnut model and what their recommendations may be. Students can also analyze how the material in the podcast will impact the economy in a macro setting. The analysis portion has the potential to be varied in nature. However, I recommend sticking to my guidelines below:
- To evaluate the Doughnut model you need first to understand the author’s arguments. Start by identifying the assumptions inherent in the argument, checking to see if the conclusions follow from these assumptions. Try to distinguish the argument from the evidence provided to support the argument
- To do a critical evaluation, essentially you should take apart the various steps in the argument and see if they make sense separately and as a whole. Can you use the tools learned in class to think about the argument in another way? Check to see if the author is missing anything in his/her argument or has used some tool or method incorrectly or inappropriately. Is there evidence that contradicts their argument?
- I expect you to use at least 1 economic model we have learned in class. You should be using the AS/AD model, Classical model, the Phillips Curve, etc. Your models should also be detailed. Make sure you read explaining what the models mean and clearly demonstrate the economic implications.
- All models must be drawn by hand. Any models “grabbed” from the text or internet will not count and will adversely affect your grade. Your hand-drawn models should be scanned and of high-quality.
Conclusion (5 points): It is important to have a strong conclusion since this is the last chance you have to make an impression on your reader. The goal of your conclusion isn’t to introduce any new ideas, but to sum up, everything you’ve written. Specifically, your conclusion should accomplish three major goals:
- Restate the main idea of your essay, or your thesis statement.
- Summarize the main sub-points of your essay.
- Leave the reader with an interesting final impression.