Political Economy

With no plagerism,
Students will use the theory of consumer choice and the impact of the concepts of asymmetric information, political economy, and behavior economics, to describe how consumers make economic decisions.
Assignment Steps
Scenario: You have been asked to assist your organization’s marketing department to better understand how consumers make economic decisions.
Describe the:

The impact the theory of consumer choice has on:
- Demand curves
- Higher wages
- Higher interest rates
The role asymmetric information has in many economic transactions.
The Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy.
People are not rational in behavior economics.

Must clearly identify the chapter, headings, and subheadings. It must be single-spaced and approximately 1-2 pages in length. Please provide a written summary (3 sentences) of the chapter headings and subheadings. You must read the assigned material and then formulate a written synthesis of this information.
1.
Ronald Schmidt (2000). Public policy and racial equality: A framework for analysis. Proceedings form the American Political Science Association. See attachment for article
2.
Summarize in 1-2 page single space Clark, Political Economy, Chapter 1, Politics, Economics, and Political Economy
3.
Summarize in 1-2 page Clark space, Political Economy, Chapter 2, The History of Political Economy
4.
Summarize in 1-2 page Clark, Political Economy, Chapter 3, The Classic Liberal Perspective *need done ASAP*

Tag: Political Economy

impact of the concepts of asymmetric information, political economy, and behavior economics-Describe the role asymmetric information has in many economic transactions