Intermediate Microeconomic Theory

Economics 4001.01Intermediate Microeconomic TheoryExtra CreditEconomic research begins with a question. With that question in mind, the researcher begins a review of the relevant literature. This step is important because the researcher needs to know what has already been done in terms of questions asked, methodology used, assumptions made, data used, and results. Most economic research is built on the work that has already been done by someone else. Once a literature review has been done, the researcher can develop a proposal for their own studies. That proposal may involve asking a different question, using a different methodology or model, testing the affect of different assumptions, using a different set of data to test the model, or extending the results into new areas.This assignment will give you a chance to experience some of that process. Your job will be to select one of the articles provided to you, review it, and develop a proposal for research. Your audience is someone that is familiar with economic theory but has not read the article. Thus, your review needs to include a general discussion of the research questions, methodology, data used, and results. This is not a matter of rewriting the abstract for the article. Once you have completed your review, you should develop a proposal for research based on this article. Note that you are not expected to carry out that proposal for this assignment.Required Elements:1. Your paper should be double spaced and use an 11- or 12-point font size. Do not use an unusual font that will be difficult to read. A good choice would be Times New Roman.2. A cover page with your name, class, date and the name of the article you are reviewing.3. A review of the article.a. There is no word count or page count, but it is unlikely that you will be able do an adequate review in one paragraph.b. You need to include any information that someone that is knowledgeable about economics but has not read the article would need to understand what the author(s) have done.c. You should also discuss the significance of the article as well as any potential flaws that you found.4. A research proposal.a. Based on the article you read, develop a research proposal.b. There is no word count or page count for your proposal, but it is unlikely you can write an adequate proposal in one paragraph.c. Discuss what you would do, how it is different from what has already been done, and why you think that would be interesting to someone reading your research.5. A bibliography that includes at a minimum the article that you have read and reviewed. If you want to expand your literature review, you may do so. But it is not required.Note that your assignment will be run through Turn-It-In. Plagiarism is not acceptable. If you plagiarize, you will receive a zero and can be reported to the academic misconduct committee.