Discussion: Economics of Spending

In 2020, we scrambled for hand sanitizer and toilet paper. Store shelves were empty, and the internet was offering scarce goods for a premium. 2021 saw local restaurants looking to fully reopen but having difficulty finding workers. Supplies were still scarce. 2022 ushered in a war in Europe and inflation. This is supply and demand in action.

Module 1 Discussion Week 1 Resources
Introduction to Demand and Supply (2022)
Red-hot inflation is raising prices on everyday essentials — here’s what’s rising the most (2022)
Oil tumbles as recession fears boost demand concerns (2022)
Don’t Blame Manufacturers for Rising Food Prices. They’re Hit By Inflation and Higher Costs, Too, Experts Say (2022)
Empty shelves: Why tampons, Sriracha and peanut butter are in short supply (2022)

Week 1 Discussion Post

Based on the resources provided or your research, discuss how the pandemic, war, and inflation triggered supply and demand shifts in your workplace, community, or home. Be sure to include price implications in your post. (Research Support Required)

This post should be 2 paragraphs (150-200 words). Since you are engaging in research, cite in the body of the post and add a reference list in APA format. NOTE: failure to use research with accompanying in-text citations to support content will result in reduced scoring “Level 2-Developing” on the grading rubric.

WEEK 1 INTERACTIVE RESPONSES TO CLASSMATES
1st Interactive Response:

Analyze one student’s treatment of supply and demand shifts and share how media portrayed the effects.

2nd Interactive Response:

Analyze another student’s coverage of price implications and share accounts or news reports you heard that illustrated how people were affected.

Each reply should be one paragraph (or about 75 words) and must be substantive. Do not simply say “I agree” or “That is great.” Specify why and be detailed in your explanation. You may use research in your responses, but it is not required.

Net Value of Higher Minimum Wage

News sources are filled with the pros and cons of increasing minimum wage at the state or federal level. While there are arguments for different sides of the issue, most fail to address big picture implications of the scenario. Rather than subjectively addressing changes in minimum wage, you will be looking at it objectively from an economics viewpoint.

Module 1 Discussion Week 2 Resources
Rising Inflation Will Lead to California Minimum Wage Hike in 2023: 5 Key Takeaways for Employers (2022)
Does Raising the Minimum Wage Increase Inflation? (2022)
Is a $15 Minimum Wage Good for Small Business? (2022)
Price Floors in the Labor Market: Living Wages and Minimum Wages (2022) Scroll down to find section.
What Are the Pros and Cons of Raising the Minimum Wage? (2022)
New report: Workers feeling the pinch as drop in real wages take their toll (2022)

Based on the resources provided and internet research, explain the implications of raising the minimum wage from the point of view of stakeholders: the worker, business, consumer, and government. Provide an impartial research-supported presentation. (Research Support Required)