PPT NEEDED IN 6 hours - Achiever Papers

This is a microeconomics class project

Choose a topic to make a several pages ppt

how many pages is not defined, as long as it is a compete work

need in hurry, under 6 hours

this is the first draft, not everything need to be perfect

you dont have to do the video, just the ppt is good, i ll do the video on myself

Vide

– First Draft

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The best way to learn is to teach

We have covered several important economic topics:

supply and demand
price controls and their unintended consequences of price controls
production taxes and subsidies
elasticity
consumer and producer surplus
poverty and inequality
market failures

It is time to use these to explain one topic “to a friend” who has basic econ knowledge (that is, you don’t
need to explain supply and demand from scratch). You will do this with a 6-7 minute video – try not go
over 7 minutes – I will watch but begin to subtract points if it is not “good.” A couple classmates will
provide constructive comments, and then you will re-record the video for your final submission in a week.
Do not hand in the same video twice … even if your classmates say it is perfect or they fail to do their
review at all – you can still improve it with a second take. Also, you should be familiar with the bullet
points of all presentations (other than outside articles to analyze) as I ask similar questions on the final
exam – but your video is only on one of the topics.

Video guidelines/hints:

do not wait until the last minute … it takes time to create and organize your presentation. Time
management is half the battle.
use Chrome browser and record using Studio (in Canvas). Some students say Studio does not work
for some reason – if that is the case you can use some other software and embed your video into
studio (go into Studio and click on Add Video). But try Studio first as it is easiest for me and works
quite well for almost everyone.
show yourself as you discuss the topic (use screencast-o-matic when you record) – I want to see you
explaining your research.
Use the pause button so you don’t have to do the whole presentation in one take .
Create engaging slides. Do not put too many words on each slide – a viewer cannot both listen to you
and read/process a graph. It is cognitive overload. So be considerate of your viewer and use bullet
points – then explain clearly in your own words (not reading a script).
Again, there are few things in life more painful than watching someone read during a presentation.
So do not just read a Wikipedia page or any other script (even if you wrote it). Know the content well
enough talk about it in your own words like you would with friends. The bullet points will guide you
and keep you on track
Pictures and clip art are nice to make your slides attractive for the viewer.
Do not sit on one slide for too long (unless you are explaining a graph / chart on it) … keep it
stimulating for the viewer by using more slides (rather than fewer slides).
If you use a graph or chart – do not ignore it. Sometimes students put up random stuff and never
explain what it is – is the viewer supposed to study it while you are talking?
Walk us through the important parts of graphs and charts with your cursor so we understand it. Do
not just say, “you can see my work here” … I am not going to stop the video to look at your work so
explain it.
Create graphs using Google drawings
(https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-ZVRo3853oA2xHswCDOM69zmz4/edit)
(explanatory video below).
No videos should be used as part of your presentation (other than the one you are making)
Cite all sources you used in the final slide – you don’t have to spend time on it but if you read some
articles that were helpful, just please list them.
You have a lot to cover in limited time. Economize. Like good writing, good videos should be
concise.

Grading Rubric

Criteria (points) Awesome! (Full Points) Less than Full Points

https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-ZVRo3853oA2xHswCDOM69zmz4/edit

Answered Bullet
Points
Thoroughly (50)

All bullet points are addressed
comprehensively. Answers are factually
accurate, demonstrate a clear understanding of
the content.

Not all bullet points are fully
addressed. Answers lack factual
accuracy, depth, or appropriate
evidence.

Peer Reviews
and Final Draft
(10)

Provides meaningful comments for peer review.
Does a final version that improves upon the first
submission.

Does not provide meaningful peer
review comments. Hands in the
same video for first and final
submission.

Slide Quality
(10)

Slides are visually clean, organized, and
effectively enhance the presentation. Graphs
are fully labeled. Appropriate number of slides
with concise text and relevant images.

Slides are cluttered, disorganized,
or too text-heavy. Graphs not
labeled. Presentation lingers on
particular slides even as presenter
moves on to other content.

Explanation of
Graphs (10)

Graphs are clearly explained using a cursor or
pointer to highlight key points. Explanations are
concise and meaningful, providing clear insight
into the data presented.

Graph explanations are unclear,
overly simplistic, or lacking detail.
The use of a cursor or pointer to
highlight data is inconsistent or
missing.

Engagement (10)

Presenter maintains eye contact, speaks
directly to the camera, and uses varied vocal
tones to keep the presentation engaging. The
delivery is natural, avoiding reading from a
script.

Limited eye contact or engagement
with the audience. Vocal tone may
be flat or monotone. Presenter
relies heavily on reading from a
script.

Overall
Organization
(10)

Presentation has a clear structure with a well-
defined introduction, logical progression of
points, and a strong conclusion. Ideas flow
smoothly from one to the next and is
accomplished within the prescribed time frame.

Presentation lacks structure. Points
presented in a disorganized
manner, affecting the overall
coherence of the presentation.
Presentation is too short or runs
long.

Here are the topics along with the specific bullet points you must
cover:
Option 1: Proposal to raise wages – Minimum wage and wage subsidies

Use Google Drawings (https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-
ZVRo3853oA2xHswCDOM69zmz4/edit) to create standard labor supply and demand curves to
introduce a binding minimum wage – along with an explanation of the primary potential unintended
consequences: employment, targeting, who pays, rigidity, transparency, black markets.
As of April 2024, workers in California fast food industry are guaranteed a minimum wage of
$20/hour. Read and summarize 2 recent articles – ideally reflecting different perspectives – on the
impact of this. Put a screen capture of each article headline on a slide (just the headline) as you
summarize / assess them.
If demand elasticity is -0.25 and a binding minimum wage rises from $12 to $20, use the midpoint
formula to calculate what happens to employment in % terms. Show your work. Put this result in
a S&D diagram – raise the wage from $12 to $20 and show q1 and q2 (you do not have to use
numbers for quantity – just q1 and q2).
Use changes in consumer surplus (remember, employers are consumers – they demand labor),
producer surplus (workers are producers – they supply labor), and deadweight loss to help the trade-
off you are illustrating. Comment on if you think the trade-off is “worth it” or not – why? There is no
right or wrong answer here – this is your opinion.
Show and discuss how the results for a minimum wage change demand is more inelastic than the
example above. That is, compare the outcome when elasticity is (-0.25) with a more inelastic reality
in a S&D diagram (easiest if you show two demand curves in the same S&D diagram – the demand
curves should intersect at the initial free market wage – then you can see how the outcome differs). In
which case is the minimum wage more effective and why?
The Earned Income Tax Credit (https://www.taxpolicycenter.org/briefing-book/what-earned-
income-tax-credit) (EITC) is a targeted wage subsidy – the 2021 benefit graph was introduced at the
bottom of this page (https://foothillcollege.instructure.com/courses/30293/pages/minimum-wage-vs-
income-subsidy) . Briefly explain this benefit structure to the viewer. Then do some research and find
out how many billions of dollars are spent at the federal level? How many families are helped? Is the
federal EITC refundable (what does that even mean)?
Read this Institute on Taxation and Economic Policy brief (https://itep.org/boosting-incomes-
and-improving-tax-equity-with-state-earned-income-tax-credits-2022/) to learn how some states add
their own EITC on top of the Federal one. Explain the EITC policy of ONE state you found
interesting.
We can grasp the concept of the EITC in S&D with a wage subsidy to the supply of labor (this is a
production subsidy). Use Google Drawing to create a wage subsidy. Show the wage employers pay,
the wage workers receive, and the cost of the subsidy. Do the unintended consequences introduced
with minimum wage apply to a wage subsidy? Discuss how or why (not)?
What do you think? Should your city a) increase/remove the minimum wage? b) increase (create?)
an EITC program? c) do nothing? Make a recommendation that you believe would improve on the
current situation. What are potential problems with your policy? What kind of opposition would you
expect?

https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-ZVRo3853oA2xHswCDOM69zmz4/edit

https://www.taxpolicycenter.org/briefing-book/what-earned-income-tax-credit

https://foothillcollege.instructure.com/courses/30293/pages/minimum-wage-vs-income-subsidy

Boosting Incomes and Improving Tax Equity with State Earned Income Tax Credits in 2022

Option 2: Proposal on Affordable Housing – Rent Control, Housing Subsidies, and Zoning
Regulations

Use Google Drawings (https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-
ZVRo3853oA2xHswCDOM69zmz4/edit) to create standard supply and demand curves to introduce the
idea of rent controls – along with an explanation of the primary potential unintended consequences:
shortages, targeting, who pays, quality, rigidity, transparency, black markets.
Rent control (or rent stabilization) is always a topic in some US cities (such as San Francisco, New
York, or Berkeley). Read and summarize 2 recent news articles – ideally reflecting different
perspectives – on the impact of this. Put a screen capture of each article headline on a slide (just the
headline) as you summarize / assess them.
Investigate how and why the selling price for units in San Francisco that are for sale differs
depending on if there is a current tenant. Explain.
An alternative strategy to assist low-income households is a demand subsidy
(https://youtu.be/41C6Fotz2qw?si=bv3bIpZ6P6sAGM6r) – like the Housing Choice Voucher Program
(HCVP) administered by the Department of Housing and Urban Development (HUD). Research this
program: How many billions of dollars were spent last year and how many families were helped? Is
the HCVP an entitlement? What does that even mean? How much do you estimate it would cost the
federal government to make it an entitlement? (show how you arrive at your rough estimate … you
need to find out how many families are on the waiting lists first – this opinion article
(https://cityobservatory.org/make-housing-vouchers-an-entitlement-we-can-afford-it/) will help –
hopefully you can update the estimates for a more current year).
It turns out the price elasticity of supply for housing is quite inelastic in most cities (this article
(https://catalyst.independent.org/2021/03/02/elasticity-urban-housing/) explains why this matters). If the
price elasticity of supply is 0.1 and there is a 30% increase in rent prices, calculate how much the
housing stock will rise. Show work.
Use Google Drawings to show the impact of housing demand subsidies to consumers given a supply
elasticity of 0.1. This video – Housing Subsidies (https://youtu.be/41C6Fotz2qw) – shows you
what to do (just make the supply curve more inelastic). In your supply and demand diagram, indicate

the new rent landlords get,
the new rent voucher-recipients pay,
the cost of the subsidy
the increase in consumer surplus,
the increase in producer surplus

Comment on the effectiveness of demand subsidies (like HCVP) when supply is extremely inelastic.
What is the problem that limits the effectiveness of this policy? Is this intervention in the free market
“worth it” from your perspective if price elasticity of supply is 0.1? Consider who gains, who loses,
and the overall impact on rents to discuss the trade-offs revealed by this analysis. This video
(https://youtu.be/dJ9tJqwvgdg?si=GAxG8AYa-wbpbqmS) will be helpful!
Increasing supply elasticity: Find and show a local housing zoning map for your city. Explain the
color legend. How do the regulations (building height requirements, Minimum lot sizes, R-1 zones –

https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-ZVRo3853oA2xHswCDOM69zmz4/edit

Make housing vouchers an entitlement—we can afford it

‘Elasticity’ Key to Solving U.S. Urban Housing Crisis

only for single family detached homes) affect supply elasticity?
Have there been efforts in California to relax zoning restrictions? How and have they worked? (this
might help (https://youtu.be/DX_-UcC14xw?si=GDHfzJq105qw6TSo) ). Show a screen capture of
the title of at least 2 articles you have read on this in a slide … summarize the articles.
Why don’t we just change zoning regulations to allow more housing? (hint: NIMBY)
Given all of your research – make a couple of educated opinions. For example, should the US, or
your city, a) expand HCVP? b) change zoning regulations – how and why? d) do nothing? …
whatever you suggest, address potential problems with your policy and kind of opposition would
should expect.

Option 3: Greenhouse Gas Emissions – Gas Taxes and EV Subsidies

Use Google Drawings (https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-
ZVRo3853oA2xHswCDOM69zmz4/edit) to create standard supply and demand curves to illustrate the
negative externality that comes with using gasoline. What is the negative externality? Clearly explain
why the free market fails using the graph.
Explain how a gasoline tax could, in theory, correct for this market failure. Show in your graph the
price consumers face, the price producers face, and the tax revenues raised.
Read “Beyond the Numbers (https://www.bls.gov/opub/btn/volume-5/using-gasoline-data-to-
explain-inelasticity.htm) ” to explain why demand for gas is relatively price inelastic. If the price
elasticity of demand for gasoline is 0.05 and there is a 30% rise in gas prices (due to a tax), by what
percent does quantity demanded fall? Show your work.
Read this Federal Reserve analysis (https://www.dallasfed.org/research/economics/2020/0616) to
explain an estimate of what the price elasticity of demand for gas is based on recent research?
(Optional – you can read about aggregation bias (https://www.statology.org/aggregation-bias/)
here if you want).
If the demand for gas is more price-elastic than previously thought, does that make a gasoline tax
more or less effective at reducing consumption? Illustrate and explain your answer using a supply
and demand graph using Google drawings – you are comparing a tax with an inelastic demand to a
tax with a more elastic demand.
Another strategy the US is pursuing to reduce GHG emissions is subsidizing the purchase of Electric
Vehicles (EVs). Use Google drawings to illustrate a $7,500 subsidy to consumers
(https://youtu.be/41C6Fotz2qw) in an EV supply and demand graph. Assume an initial (free market)
price of $40,000 and a final price (after the subsidy) of $34,000 for consumers, and $41,500 for
producers. Also assume this results in EV sales rising from 700,000 to 900,000. Show the “total cost”
rectangle of the subsidy in your supply and demand diagram along with the gain in consumer surplus
and the gain producer surplus.
Calculate demand elasticity as the price for consumers falls from $40,000 to $34,000
Now see if you can investigate how much the US actually spent on EV subsidies last year … and how
many cars were subsidized? What are the conditions of these subsidies? (not all EV cars get them…)
Summarize the findings of this Niskanen Center (https://www.niskanencenter.org/electric-vehicle-
subsidies-are-going-to-the-wrong-drivers-and-were-paying-for-it-in-carbon-and-cash/) opinion article on

https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-ZVRo3853oA2xHswCDOM69zmz4/edit

https://www.bls.gov/opub/btn/volume-5/using-gasoline-data-to-explain-inelasticity.htm

https://www.dallasfed.org/research/economics/2020/0616

What is Aggregation Bias? (Explanation & Example)

Electric vehicle subsidies are going to the wrong drivers, and we’re paying for it in carbon and cash

the EV program. How do they suggest the subsidy be improved? How exactly could this be
implemented in practice? Explain to the viewer.
What do you think? Which policy is more effective and why? Should the US tax gas? How much?
Should we subsidize EV cars? How much?

Option 4: Climate Change – Cap and Trade, and the EN-ROADS Climate Model

A slight twist on a tax is to create a market for pollution. With a tax, we put a price on pollution and
then the market determines how much reduction takes place. With cap and trade, we determine how
much pollution reduction takes place and the market determines the price of pollution. So both
strategies reduce pollution and raise prices – they just do it in different ways. Use

Google Drawings

(https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-ZVRo3853oA2xHswCDOM69zmz4/edit)
to create a supply and demand graph to illustrate how a carbon cap and trade program works (note:
the supply should be perfectly inelastic). Show what happens to price and quantity if the economy
“booms” – resulting in increased demand for pollution permits.
Research and provide details on either California’s Cap and Trade Program
(https://www.resources.org/common-resources/california-cap-and-trade-explained/) or the European
Union Emission Trading System (https://www.cleanenergywire.org/factsheets/understanding-
european-unions-emissions-trading-system) (EU ETS). How many permits have been / are being
issued? Are permits initially sold or given away – why and which makes more sense? How much
were the permits in a recent auction? Has it been successful?
What is “carbon leakage”? What are other problems? … learn about it and explain it to the viewer
(this Economist video (https://www.youtube.com/watch?v=m5ych9oDtk0) will be helpful).
If the short-run demand elasticity for pollution permits is 0.4 and the government reduces the quantity
of pollution permits available by 10%, by how much will the price of permits rise? Show your work.
Also show this in your supply and demand graph.
What would happen to demand elasticity for permits in the long-run? How and why?
I discussed a tax and dividend strategy in my Milkshakes, Tailgates, and Global Warming video. This
could be achieved either through a tax or by selling permits (as you are analyzing here). Review the
basic logic behind this strategy – and how it protects low-income families.
Is there any such bill being promoted in the US Congress? What is the current situation on it
passing? Citizens Climate Lobby (https://citizensclimatelobby.org/) will be helpful here.

En-roads is a cutting edge climate model created at MIT and available for free to the public. Watch
the 2 minute 26 second introduction video on the En-Roads home page
(https://www.climateinteractive.org/en-roads/) . With no action taken, the best estimate scenario is
global temperatures will increase 3.3 degrees Celsius by 2100 (relative to 2000). Many have argued
for limiting this rise to 2 degrees – but getting there is a challenge. Play around and learning about
the model for a bit and then create and briefly comment on the three scenarios below.

Scenario 1: You will find that Carbon pricing (similar to the gas tax you have demonstrated above) is
the most effective policy at limiting temperature rises. Put in a Carbon tax (and phase-in rate) of your

https://docs.google.com/drawings/d/161bIKWYGNtY8NtT1J-ZVRo3853oA2xHswCDOM69zmz4/edit

https://www.resources.org/common-resources/california-cap-and-trade-explained/

https://www.cleanenergywire.org/factsheets/understanding-european-unions-emissions-trading-system

Homepage

https://www.climateinteractive.org/en-roads/

choice and explain to the viewer the impact. You can either do this live in your video, or take a screen
shot of the outcome. Why do you think Carbon pricing is the most effective strategy?

Scenario 2: Economic growth in developing countries is critical to bring people out of poverty. Reset
the values to the baseline (click on the circle arrow next to the home icon). What happens to the
temperature rise if you bump up per capita GDP growth to 3% per year (in isolation)? Should we limit
economic growth in poor countries to protect against climate change? What is the moral trade-off of
doing that?

Scenario 3: Reset the values to the baseline. I will give you a freebie – the current scenario assumes
global population will be 10.4 billion in 2100, but I have been reading new forecasts that suggest
global population may peak at a bit over 9 billion people – so let’s put in 9 billion people in 2100. Now
adjust the other variables and see if you can create a scenario that limits temperature rise to 2 C by
2100. Once you achieve this, show it in your video and explain how you got there. Is this feasible?
What do you think will happen in the future?

Additional Resources
How to make a studio video

I forgot to mention in this video that the first time you try to record you will be prompted to download the
required software. Do that … and then you can click on Record / Screencast-o-matic:

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Google Drawings

Use Google Drawings
(https://docs.google.com/drawings/d/1ZIfvgeDeVQHAXtoWWea37KDH7uS1Pm7B1fk6dKB9RkI/copy) for all
graphs in your presentation (despite what I say in the video, you have to use this for full points). This

https://docs.google.com/drawings/d/1ZIfvgeDeVQHAXtoWWea37KDH7uS1Pm7B1fk6dKB9RkI/copy

video shows how to use and upload your work (obviously you will copy your work onto your slides and
not into Canvas directly).

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