The concept of the Invisible Hand is central to the teaching of economics. While this is all well and good for class discussions and short essay exam questions, it is more fundamental and central than that.
In the Week 2 Readings and Materials, you were assigned to read the “I, Pencil” essay and the Freakonomics piece, “How Can that be True?”. Both pieces address the Invisible Hand on a larger scale.
I, PencilLinks to an external site.
How Can This Possibly Be True?Links to an external site.
You assignment is to write an essay on the Invisible Hand expressing the following:
Explain the concept of the Invisible Hand. Providing a historical perspective or not is up to you.
Do you agree with the general concept and the larger scale interpretation expressed in “I, Pencil”?
Based on your point of view in the above bullet point, what is your view on government involvement in business and economics?
There are no wrong answers. There are however consistent and well thought out arguments versus a general ramble. Yes, this assignment is to get you to think, formulate a viewpoint, and express that view.
Here are some other guidelines:
Your paper should include your name, the date, the course for which this paper is being written, and a title for your essay.
You will lose 5 – 10 points if you just take make numbered list above and answer the questions as if it were a homework assignment.
All papers must have a reference section in which you list the resources used as background in the paper. This includes the Readings and Materials provided in Canvas. You should include at least two more references.
You are free to quote from any of your references. If you do, you must provided the proper attribution. This includes any graphics you choose to use.
How long should this essay be? Ask me.
ALL papers must be uploaded in Canvas and this assignment paper will only accept file uploads in Microsoft Word with a .doc or .docx suffix.
Google docs and Pages can all export to MS Word
No PDFs
No hard copies
Have some fun, learn something
Rubric
I, Pencil
I, Pencil
Criteria Ratings Pts
This criterion is linked to a Learning OutcomeTitle, Name, Date, and Course
2 pts
This criterion is linked to a Learning OutcomeResources Provided
2 pts
This criterion is linked to a Learning OutcomeAnnotations/Attributions Provided
2 pts
This criterion is linked to a Learning OutcomeGrammar
2 pts
This criterion is linked to a Learning OutcomeBusinesslike Writing Style
2 pts
This criterion is linked to a Learning OutcomeConcept of the Invisible Hand explained?
10 pts
This criterion is linked to a Learning OutcomeDo you agree with the general concept and the larger scale interpretation expressed in “I, Pencil”?
10 pts
This criterion is linked to a Learning OutcomePersonal Point of View: Based on your point of view in the above bullet point, what is your view on government involvement in business and economics?
10 pts
This criterion is linked to a Learning OutcomeClarity and Understandability
10 pts
Total Points: 50