Essay Instructions: Paper topic: The ECONOMIC effects of hurricane Katrina
Instructions below-
The point of this assignment is to link theory and practice. Whether you have a lot of work experience or a little, you have been exposed to numerous economical issues. From either a buyer or seller standpoint, you have had many interactions that you should vividly remember...some positive and some not so positive.
Review/Skim the chapters within your text and decide how you will approach your final project.
Your assignment is to analyze an event such as the tsunami in Japan, the deep-water drilling incident involving BP within the Gulf region a few years ago, or any other world event/disaster within the last ten years. To assist you in your research, ensure you utilize concepts from your textbook, class discussion, and your accumulated knowledge from your own experience as well as information/concepts from the course material. Be sure to include at least three cited sources in your final paper.
Focus on explaining the companies (or countries) leadership?s behavior, both pre/post the disaster. Keep asking yourself ?why? did leadership or someone else within the company/country respond the way they did? Write the analysis with the ?why? question in mind using theories/concepts to explain why.
This project, like the real world, does not have one ?right? solution. Instead, students should answer the questions based upon the information given and make the necessary assumptions to justify your stated theories. Be sure and identify the assumptions you make as you link them to the theory.
Each student will discuss both the short and long term effects from the incident to both the company/country and the public; as well as local and potential worldwide economy (You tell me who will be effected and why)
Once you have designated who will be effected, if dealing with a company?s mishap; discuss what you feel should be their punishment/payback to society should be (and why). How would you propose the payback be accomplished? If discussing a natural disaster, discuss how the government could have avoided the incident, or what they need or needed to do to assist in a speedy recovery.
If you have any questions about the case study assignment, contact the instructor immediately so as not to hinder your progress.
General Guidelines to analyzing your final project:
Read over documented material quickly the first time? as if reading for enjoyment?
Reread the material?this time use critical thinking skills, thinking about the following:
Define the major problem(s) that possibly led to the incident and provide backup rationale.
If information is incomplete, which is likely to be, make realistic assumptions
Outline the probable causes of the problem (Note: it is unlikely that there is one clear-cut cause for problems)
Write the analysis with the ?why? question in mind using theories/concepts to explain why.
Choose a solution and describe how you would implement it
Go over the report again. Make sure self proposed questions are answered, and make sure your solution is efficient, feasible, ethical, and legally defensible.
Final Report must include the following sections:
Report Summary ? 40 points
This is a brief overview and description of the company/incident. It should include 3-5 paragraphs giving an overview of the incident and the possible economic backlash (if any). Be sure and include current information about the incident ? use outside material if necessary, the company website is a good place to find current information.
Major Problem ? 50 points
Include probable causes of the situation/problem. This is where you define the ?why? questions. You can also address this section with who, what, when, and where questions if applicable. (For example, you may address: ?why did the leadership in the incident do what they did?, ?who is the driving force behind the success/failure of this story?, ?what could this company do differently?. These are just examples of questions; your team will decide what questions best fit your particular case).
Questions and Answers ? 50 points
These are your own questions/issues you discovered during your analysis of the incident, and then give your answers. Be sure and thoroughly address the questions. One or two sentences are not sufficient. If possible, use the textbook material to answer your questions. If you feel that material from another chapter that was not covered during class is relevant to your case then include it. Each answer should be several sentences if not two to four paragraphs.
Reactions ? 30 points
What is your overall reaction to the incident? There is no right or wrong answer for this section. Just be sure that your reaction aligns with the rest of your analysis. (For example: ?I believe the person/company in the incident made the right decision because ?..or ?I enjoyed evaluating this situation/incident because?.?).
Recommendations 30 points
This is your opportunity to think like a consultant/economist. What advice or recommendations would you give this company? This would be one place to use textbook material. If you believed there was a major problem in the incident, what is your solution? Again, no right or wrong answer, just be sure and make recommendations that aligns with your analysis.
textbook is Economics- O'sullivan 7th edition. If just a few economic principles are pointed out I can find citations for them in the text. FORMAT HAS BEEN PUSHED AS IMPORTANT