Economic model write-up

The writing assignment should be 750-1000 words in length (not including not including bibliography). Please double-space your document.

GENERAL INFORMATION: The primary objective of this writing assignment is to give you practice in writing about an economic model and tying it to a real-world example or situation. Please identify a model from class that relates to the topic below. Describe that model in theory in your own words, then put that model into real-world context. In doing so, you will have to do some outside research to identify relevant sources of information, and you will have to practice proper citation of those sources. The skills that you are applying in this writing assignment are great practice for the Essay Assignment due at the end of the semester, which will also require you to describe an economic model in theory, tie it to a real-world situation, perform your own research on the topic, and incorporate and properly cite that research in your essay.

TOPIC: Over the past year, a large portion of the workforce has been encouraged or required to work from home due to the COVID-19 pandemic. In your writing assignment, please discuss costs and benefits to a firm of allowing or requiring its employees to work remotely when firms have the choice of whether to allow or require this. Please also discuss any changes in those costs or benefits due to the temporary remote work requirements during the pandemic, and whether you expect those changes to be permanent.

MODEL: You must identify and describe one economic model from this course that is relevant to your discussion. In your own words, explain the features of that model (what are the assumptions, predictions, and implications of the model) and how it is relevant to this discussion.