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6 Pages • Essays / Projects • Year: Pre-2021
• What is the issue from a societal perspective ○ Impact of the over consumption of anti-biotics § Including direct and indirect estimates of economic costs, global deaths etc. ○ The sources of over consumption ○ Worst group of over consumers (group, country… ) 2. Description of relevant economic theory explaining the effects of over consumption on economic efficiency a. Hint: So what is the economic theory that underpins your economic analysis? We have been pretty focused on developing one key theory so far this semester. Remember that “X” marks the spot! In this case it is over consumption of a good that is potentially leading to a socially inefficient outcome. To correct for that, you can use an economic theory to demonstrate how decreasing antibiotic consumption will move the market to a socially efficient level of consumption. You will need to explain in economic terminology what has been gained by moving to the social efficient level of consumption. And yes — you will be expected to include a relevant graph! 3. A critical analysis as to effective policies to reduce over consumption to achieve socially optimal level of consumption a. Be selective and concise with your arguments b. Draw on appropriate academic literature and/or present evidence to support your arguments i. Two policies to reduce over consumption- they may be price policies or non-price policies 1) Must be targeted from a number of angles 2) However; keep it simple ii. Overview of policy, how it will work to reduce consumption and potential strengths and weaknesses (don’t have to say which policy is better)
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