EXAMPLEESSAYTextbook Examples 2For textbook examples, please see pag

EXAMPLEESSAYTextbook Examples 2For textbook examples,
please see pages 222-241CHARACTERISTICSAlso known as:
Illustration essay OR Illustrative essay
not as in drawing or sketching but as in demonstrating,
proving, exhibiting, revealing, showing,
exemplifyingCHARACTERISTICSINTRODUCTIONBODY
Paragraph #1 (REASON #1)BODY Paragraph #2 (REASON
#2)BODY Paragraph #3 (REASON
#3)CONCLUSIONCHARACTERISTICS Persuasive
that you clearly illustrate your pointsnot that you are
trying to sell not that you are speaking directly to the reader (no
“you”)* STRONG THESIS STATEMENT
emphatic, declarative topic + main idea + support
CHARACTERISTICS PROOF = EXAMPLES
statsspecific people, places, objectsspecific
instancesanecdotes (brief informative stories to help develop
ideas; like instances or
occurrences)CHARACTERISTICS*TRANSITIONS *
for example, for instance, furthermore, the best/most
important example of, another example
involves…CHARACTERISTICS* “EMPHATIC
ORDER”:logically, effectively arranged
terms of interestterms of audience identification*move
from least to most important/significant
OUTLINEREASONREASONTHESISTOPICREASONEXAMPL
ESEXAMPLESEXAMPLESINTRODUCTION“FUNNEL
EFFECT” Generalization, Quote, Quip, Question, Stats Most
people/Everybody
Most people have a favorite musician.Everybody likes to
listen to music.“Music is the food of love,” said
Shakespeare.INTRODUCTION NARROW TOWARDS YOUR
THESIS:
Some/OthersSome people listen to Disco; others listen to
Swing.Some people prefer the thumping bass of Hip-Hop;
others like the twanging steel guitar of Country. I, however,

like to listen to the searing guitar of Classic
Rock.”INTRODUCTION STRONG THESIS STATEMENT:
ends Introductory paragraphtopic + main idea +
supportThe Rolling Stones are my favorite band because of their
insightful lyrics, their driving rhythms, and their awesome live
shows.Topic: Rolling StonesMain Idea:my favorite
bandSupport:lyrics, rhythms,
concertsINTRODUCTIONTHESIS*PARALLEL STRUCTURE:
One aspect of Parallel Structure applied to thesis
statements suggests that items in a series must have the same
formINTRODUCTIONTHESIS*ORDER:
rder in thesis = order in BodyThe 1st, 2nd, 3rd reasons in
your thesis will be the 1st, 2nd, and 3rd reasons in your Body
paragraphsthe sample thesis above, the 1st Body paragraph will
discuss the Rolling Stones’ lyrics, the 2nd their rhythms, and
the 3rd their concertsBODY*BODY PARAGRAPH
#1*REASON #1
topic sentence of the paragraphfor coherence &
transitionOne reason the Rolling Stones are my favorite band is
because of their insightful lyrics.support this reason with plenty
of specific and relevant EXAMPLES
Here, quote specific lyrics AND explain their
“insightfulness.”BODY*BODY PARAGRAPH #2*REASON #2
(in topic sentence)
addition to their lyrics, another reason the Rolling Stones
are my favorite band is because of their driving rhythms.support
this reason with plenty of specific and relevant EXAMPLES
Here, describe this sound as best you can, using sense
details, metaphors, comparisons.Use specific songs to
illustrate.BODY*BODY PARAGRAPH #3*this is the most
important reason “EMPHATIC ORDER”REASON #3 (in topic
sentence)
While I like them because of their lyrics and their sound,
the most important reason the Rolling Stones are my favorite
band is because of their awesome live shows.support with
plenty of specific and relevant EXAMPLES

Here, describe anecdotally a particular concert you
witnessed.Use narrative & descriptive details to illustrate
“awesome.”CONCLUSION Refer to opening
generalization/scenario Repeat main idea Repeat thesis Repeat
reasons Conclusion = last chance to “sell” your point End with
an appropriate CLINCHER SENTENCETopicsWHY or WHY
NOT: why you want to visit/vacation in ---- why you want to
transfer out to a particular school why instant replayTopics
SPORTS: MVP, manager/coach of the year, AFC West is the
toughest division in NFL FAVORITE or WORST: musician,
artist, food, teacher, person, season, course . . . FAMILY:
family values, problems faced & conqueredTOPICS PET
PEEVES: I hate/love Mondays, English Composition, your job
famous person you admire most (“the person whom I most
admire”)Topics ROLE MODEL:
Hero, most important/influential person Whom do you
admire most? Who has had the greatest influence on your life?
Why not athletes, musicians, celebrities?Topics Cell Phones:
Reasons for everyday usageAccessoriesAvailability of
valuable informationEntertainmentand cheating in schoolSample
Topic StatementsUse 3 reasons to support your claim; use clear,
specific, relevant examples for each
reason.EDUCATION:college degree should be mandatory.Public
schools (or private schools) do not properly prepare students for
college.Colleges – especially Division I schools – place
athletics above academics.college degree makes one a better
person.Sample Topic StatementsUse 3 reasons to support your
claim; use clear, specific, relevant examples for each
reason.POP CULTURE:Pop Culture celebrates stupidity (or
marginalizes intelligence).Sitcoms do not reflect the typical
American family.Video games encourage violence.
Upon successful completion of the week, you will be able to
understand and apply the following concepts:
· Scarcity

· Economic Efficiency
· Opportunity Costs
· Productivity
· Inflation
· Business Cycle
· Production Possibilities Frontier
· Comparative Advantage
· Net Exports = Imports - Export
Supply and Demand Guide
To solve the homework problems do the following:
1. Identify the determinant change
2. Shift the appropriate curve in the correct direction
3. Change price appropriately
4. Move along the other curve (the one that did not shift) in
response to the price change.
The following information will tell you the determinants and
how the change, as well as definitions of the key terms.
Demand
Demand: The amount that consumers are willing and able to
purchase at various prices.
Law of Demand: Price and Quantity Demanded vary inversely.
Quantity Demanded: The amount that consumers are willing
and able to buy at a particular price.

Change in Quantity Demanded: Changes in price change the
quantity demanded. This is a Movement Along a Demand Curve
in Response to a Price Change.
Change in Demand: This is a shift in the position of the
demand curve, either upward or downward. If the curve shifts
upward, consumers are saying they will pay more for all
quantities of the good or service. If it shifts downward,
consumers are saying they will pay less for all quantities of the
good or service.
Determinants of Demand: The Demand Curve will shift only
when one (or more) of the Determinants of Demand changes.
These determinants are:
1. Size of Market: the number of consumers in the market for
the good or service. If this factor increases, the curve shifts
upward (increase in demand). If this decreases, the curve shifts
downward (decrease in demand).
2. Consumer Tastes and Preferences: if these shift in favor of a
product, the demand curve shifts upward (demand increases); if
these shift against a product, the demand curve shifts downward
(demand decreases).
3. Consumer Income: as the income of consumers increase,
consumers purchase more of all normal goods (assume all the
goods in the homework are normal goods), this shifts the
demand curve upward (demand increases); if income decreases,
then consumers buy less of all normal goods, this shifts the
demand curve downward (demand decreases).
4. Prices of Related Goods:
a. Complimentary Goods: These are goods that are used to
together like peanut butter and jelly. If the price of peanut

butter goes up, the Quantity Demanded of peanut butter will
decrease (a movement along a demand curve in response to a
price change). However, the Demand for jelly will decline
(decrease in demand) as fewer people buy it to go with the
peanut butter, since they are buying less peanut butter.
b. Substitute Goods: These are goods that are used in place of
each other. If the price of Coke Cola goes up, the Quantity
Demanded of Coke does down (a movement along the demand
curve). But the Demand for Pepsi – the substitute good – goes
up as people substitute the lower priced Pepsi for the higher
priced Coke (the Pepsi demand curve shifts upward).
5. Expectations about the Future: If people have a positive
view of the future they will consumer more and save less. This
shifts the demand curve for all normal goods upward. If people
have a negative view of the future, they will consume less and
save more, this shifts the demand curve for all normal goods
downward.
Supply
Supply: The amount that producers are willing and able to
bring to market at various prices.
Law of Supply: Price and Quantity Supplied vary directly.
Quantity Supplied: The amount that producers are willing and
able to bring to market at a particular price.
Change in Quantity Supply: Changes in price change the
quantity supplied. This is a Movement Along a Supply Curve in
Response to a Price Change.
Change in Supply: This is a shift in the position of the supply
curve, either upward (inward) or downward (outward). If the

curve shifts upward, producers are saying they will bring less to
market at all prices. If it shifts downward, producers are saying
they will bring more to market at all prices.
Determinants of Supply: The Supply Curve will shift only when
one (or more) of the Determinants of Supply changes. These
determinants are:
1. Number of Firms in the Industry: If the number of firms in
an industry increases, the more the industry can produce – this
shifts the supply curve downward (outward) – this is an increase
in supply. If the number of firms in an industry decreases, the
industry can produce less output – this shifts the supply curve
upward (inward) – this is a reduction in supply.
2. Relative Price of Alternative Outputs: If a firm can produce
Product A or Product B with the same resources (inputs), it will
produce the product with the higher price. If the price of
Product A increases relative to Product B, then the firm will
produce more of A and less of B. This causes the Supply Curve
for A to shift outward (increase in supply) and the Supply Curve
for B to shift upward (decrease in supply).
3. Costs of Production*: The costs of production is the primary
determinant of supply. If the costs of production increase, then
supply decreases – the Supply Curve shifts inward (a decrease
in supply). If the costs of production decrease, then supply
increases – the Supply Curve shifts outward (an increase in
supply).
4. Expectations About the Future: If firms have a positive view
of the future, they will increase production which is an increase
in supply – the curve shifts outward. If firms have a negative
view about the future, they will decrease production and the
supply curve will shift upward – a decrease in supply.

* The Costs of Production include:
· Prices of inputs – the Factors of Production
· Business Taxes
· Complying with regulations
· Less any Subsidies the firm may receive
In equilibrium, the quantity supplied equals the quantity
demanded.
Graph A
When one or more of the determinants of demand (see above)
change such that the demand for a good increases, that show s
that consumers are willing to pay more for all possible
quantities of the good. The upward shift in the demand curve
causes an increase in price. Suppliers respond to the higher
market price by bringing a greater quantity supplied to market –
recall the Law of Supply.
SHAPE
Graph B
When one or more of the determinants of demand (see above)
change such that the demand for that good decreases. The
demand curve reflects this by shifting downward, showing the
consumers are willing to pay less for all possible quantities of
the good. This causes a decrease in price. Suppliers respond to
the price change by bringing a lesser quantity supplied to

market - recall the Law of Supply.
SHAPE
Graph C
When one or more of the determinants of supply (see above)
change such that the supply for that good increases, the supply
curve shifts outward showing that suppliers can bring more
product to market at lower prices for all possible quantities.
This causes a decrease in price. Demanders will respond to the
price change with a greater quantity demanded – recall the Law
of Demand.
SHAPE
Graph D
When one or more of the determinants of supply (see above)
change such that the supply for that good decreases, the supply
curve shifts inward showing the suppliers can bring fewer
products to market at higher prices for all possible quantities.
This causes an increase in price, and demanders are willing to
buy a lesser quantity demanded – recall the Law of Demand.
SHAPE
Q

P
P*
Q*
S
D
S’
To be used with the supply and demand guide
Supply and Demand Graphs

1
Review of x and Y axis
A graph consists of two axes called the x (horizontal/quantity)
and y (vertical/price) axes.
The point where the two axes intersect is called the origin. The
origin is also identified as the point (0, 0).
X axis
Moving right from the origin of (0,0), the numbers ascend.
Moving left from the origin, the numbers descend.
Y axis
Moving up from the origin of (0,0), the numbers ascend.
Moving down from the origin, the numbers descend.
In this course, we will mainly be using the upper right quadrant
of the graphic area.
In economics it is the norm to show the independent variable on
the y-axis and the dependent variable on the x-axis.

2
The Demand Curve
Demand Curve - A downward sloping curve that measures the
relationship between the price of a good and the quantity
demanded by consumers.
Demand - The amount that consumers are willing and able to
purchase at various prices.
Change in Demand – A shift in the position of the demand curve
that occurs in response to a change in one or more of the
determinants of demand (non-price induced change).
Law of Demand – All other factors equal, the higher the price of
the good or service, the lower the quantity demanded (price
induced change). And the lower the price, the higher the
quantity demanded. Price and Quantity Demanded vary
inversely.
Change in Quantity Demanded – A change in the quantity
consumers are willing and able to purchase. It is a response to

a change in the market price.
3
Why does the demand curve shift?
The Determinants of demand
Shifts in the curve (change in demand) result from changes in
one or more of the non-price determinants of demand:
Number of Consumers in the market (Size of Market)
Consumer Tastes and Preferences
Consumer Income
Prices of Related Goods (Substitute Goods and Complimentary
Goods)
Expectations about the Future

4
The Demand Curve: Increases In Demand
Increase in Demand
Curve shifts to the right as a result of an increase in demand by
the consumers (D1 to D2). This is caused by a change in one or
more of the determinants of demand.
This causes Price to increase (P1 to P2). This shows a
willingness to pay a higher price for all possible quantities of
the good.
Suppliers respond to the higher price by increasing Quantity
Supplied (q1 to q2) .
This process results in a new Equilibrium at e2 with
Equilibrium Price P2 and Equilibrium Quantity q2.
5

The Demand Curve: Decreases In Demand
Decrease in Demand
Demand curve shifts to the left as a result of a decrease in
demand by the consumers (D1 to D2). This is caused by a
change in one or more of the determinants of demand.
This causes Price to decrease (P1 to P2). This shows a
decreased willingness to pay for all possible quantities of the
good.
Suppliers respond to the lower price by decreasing Quantity
Supplied (q1 to q2) .
This results in a new Equilibrium at e2 with Equilibrium Price
P2 and Equilibrium Quantity q2.
6
Supply Curve
Supply Curve - A curve that normally slopes upward (to the
right) representing the quantity of a product producers are
willing and able to bring to market at various prices.
Supply – The amount that producers are willing and able to

bring to market at various prices.
Change in Supply – A shift in the position of the supply curve
in response to a change in one or more of the determinants of
supply (non-price induced change).
Law of Supply – All other factors equal, the higher the price of
a good or service, the greater the quantity supplied to the
market (price induced change). And the lower the price, the
lower the quantity supplied. Price and Quantity Supplied vary
directly.
Change in Quantity Supplied – A change in the quantity
producers are willing and able to bring to market. It is a
response to a change in the market price.
7
Why does the supply curve shift?
The determinants of supply
Shifts in the curve can be attributed to changes in one or more
of the non-price determinants of supply:
Costs of Production:
Input prices (prices of the Factors of Production - resources)

Taxes
Regulatory compliance costs
Legal Expenses
Transactions Costs
Number of Firms in the Industry (productive capacity)
Relative Prices of Alternative Outputs
Technology (sometimes this is grouped with costs of production
as technology determines the methods of production available to
the firm)
Expectations about the Future
8
The Supply Curve: Increases In Supply
Increase in Supply
Supply curve shifts to the right as a result of increased supply
in the market. (S1 to S2). This is caused by a change in one or
more of the determinants of supply.
This causes Equilibrium Price to decrease (P1 to P2).
In response to the lower price, Quantity Demanded increases
(q1 to q2).
This produces a new Equilibrium e2 at Equilibrium Price P2
and Equilibrium Quantity q2.

9
The Supply Curve: Decreases In Supply
Decrease in Supply
Supply curve shifts to the left as a result of decreased supply in
the market. (S1 to S2). This is caused by a change in one or
more of the determinants of supply.
This causes Equilibrium Price to increase (P1 to P2).
In response to the higher price, Quantity Demanded decreases
(q1 to q2).
This produces a new Equilibrium at e2 and Equilibrium Price P2
and Equilibrium Quantity q2.

10
Steps to solve supply and demand problems
Use the following steps – in the order provided – to solve
supply and demand problems.
Remember that changes occur for a reason and it is important to
follow that chain of causation in all economic analysis.
The Steps:
Identify the determinant change indicated in the problem;
Shift the curve whose determinant has changed;
Shift it in the direction indicated by the determinant change;
Change the market price in line with the curve shift;
Move along the other curve in response to the price change
(change in quantity demanded or quantity supplied as
appropriate);
Find the new market equilibrium price and quantity.
11
An example:

The Fresh Fruit Market
Start with the Fresh Fruit market in equilibrium as shown in the
graph.
At equilibrium point e, the amount that consumers wish to buy
at price P is exactly equal to the amount that producers wish to
sell at price P.
The quantity demanded is equal to the quantity supplied at the
market price of P (quantity demanded = quantity supplied).
The market clears – there is no shortage and no surplus.
Then consumers decide to eat healthier foods, including more
fresh fruit.
The determinant that changes is Consumer Tastes and
Preferences.
12
An example:
The Fresh Fruit Market – Step 2
Since consumers have now decided to consumer (buy) more
fresh fruit, the demand curve shifts to the right.
This shift graphically shows that consumers want more fresh
fruit.

AND that they are willing and able to pay more for all
quantities of fresh fruit.
This change is shown in the graph as the shift of the demand
curve from D1 to D2.
13
An example:
In response to the higher demand, the market price increases
(P1 to P2).
This, again, shows that consumers are willing and able to pay
more of the larger quantities of fresh fruit that they now want to
buy.
The new price is shown as P2 in the graph of the Fresh Fruit
Market.

14
An example:
In response to the new higher price, producers will move along
their supply curve from P1 at e1 to P2 at e2 and bring a higher
quantity of fresh fruit to the market.
This is an increase in Quantity Supplied.
This is a reaction to the higher price in the market.
The higher price is necessary to induce the greater quantity
supply as expanding output involves increased costs of
production as more resources must be hired.
This process results in the new equilibrium point, e2, at the new
equilibrium price of P2 and new equilibrium quantity of q2.
15
Conclusion
Follow this process as outlined in the Supply and Demand

Guide and as discussed and illustrated in the previous slides.
These steps work for any determinant change for either supply
or demand.
Should a problem involve a change in a determinant of demand
and a determinant of supply, these steps still work and will lead
you to the correct solution.
In such a case, work through each determinant change
individually, then combine the two changes to produce the total
change in the market and the new market equilibrium.
D
Price
Quantity

0
S
P
q
e
P2
In The News:Economics within a Marriage
An economist argues that you shouldn’t always unload the
dishwasher just because you’re better at it than your partner.
You’re Dividing the Chores Wrong
By Emily Oster
No one likes doing chores. In happiness surveys, housework is
ranked down there with commuting as activities that people
enjoy the least. Maybe that’s why figuring out who does which
chores usually prompts, at best, tense discussion in a household
and, at worst, outright fighting.
If everyone is good at something different, assigning chores is
easy. If your partner is great at grocery shopping and you are
great at the laundry, you’re set. But this isn’t always—or even
usually—the case. Often one person is better at everything.
(And let’s be honest, often that person is the woman.) Better at
the laundry, the grocery shopping, the cleaning, the cooking.
But does that mean she should have to do everything?
Before my daughter was born, I both cooked and did the dishes.

It wasn’t a big deal, it didn’t take too much time, and honestly I
was a lot better at both than my husband. His cooking repertoire
extended only to eggs and chili, and when I left him in charge
of the dishwasher, I’d often find he had run it “full” with one
pot and eight forks.
After we had a kid, we had more to do and less time to do it in.
It seemed like it was time for some reassignments. But, of
course, I was still better at doing both things. Did that mean I
should do them both?
I could have appealed to the principle of fairness: We should
each do half. I could have appealed to feminism—surveys show
that women more often than not get the short end of the chore
stick. In time-use data, women do about minutes more
housework than men
( hours and minutes versus hour and minutes). Men outwork
women only in the areas of “lawn” and “exterior maintenance.”
I could have suggested he do more chores to rectify this
imbalance, to show our daughter, in the Free to Be You and
Me style, that Mom and Dad are equal and that housework is
fun if we do it together! I could have simply smashed around
the pans in the dishwasher while sighing loudly in the hopes he
would notice and offer to do it himself.
But luckily for me and my husband, I’m an economist, so I have
more effective tools than passive aggression. And some basic
economic principles provided the answer. We needed to divide
the chores because it is simply not efficient for the best cook
and dishwasher to do all the cooking and dishwashing. The
economic principle at play here is increasing marginal cost.
Basically, people get worse when they are tired. When I teach
my students at the University of Chicago this principle, I
explain it in the context of managing their employees. Imagine
you have a good employee and a not-so-good one. Should you
make the good employee do literally everything?
Usually, the answer is no. Why not? It’s likely that the not-so-
good employee is better at 9 a.m. after a full night of sleep than
the good employee is at 2 a.m. after a -hour workday. So you

want to give at least a few tasks to your worse guy. The same
principle applies in your household. Yes, you (or your spouse)
might be better at everything. But anyone doing the laundry at 4
a.m. is likely to put the red towels in with the white T-shirts.
Some task splitting is a good idea. How much depends on how
fast people’s skills decay.
To “optimize” your family efficiency (every economist’s
ultimate goal—and yours, too), you want to equalize
effectiveness on the final task each person is doing. Your
partner does the dishes, mows the lawn, and makes the grocery
list. You do the cooking, laundry, shopping, cleaning, and
paying the bills. This may seem imbalanced, but when you look
at it, you see that by the time your partner gets to the grocery-
list task, he is wearing thin and starting to nod off. It’s all he
can do to figure out how much milk you need. In fact, he is just
about as good at that as you are when you get around to paying
the bills, even though that’s your fifth task.
If you then made your partner also do the cleaning—so it was an
even four and four—the house would be a disaster, since he is
already exhausted by his third chore while you are still doing
fine. This system may well end up meaning one person does
more, but it is unlikely to result in one person doing everything.
Once you’ve decided you need to divide up the chores in this
way, how should you decide who does what? One option would
be randomly assigning tasks; another would be having each
person do some of everything. One spousal-advice website I
read suggested you should divide tasks based on which ones you
like the best. None of these are quite right. (In the last case,
how would anyone ever end up with the job of cleaning the
bathroom?)
To decide who does what, we need more economics.
Specifically, the principle of comparative advantage.
Economists usually talk about this in the context of trade.
Imagine Finland is better than Sweden at making both reindeer
hats and snowshoes. But they are much, much better at the hats
and only a little better at the snowshoes. The overall world

production is maximized when Finland makes hats and Sweden
makes snowshoes.
We say that Finland has an absolute advantage in both things
but a comparative advantage only in hats. This principle is part
of the reason economists value free trade, but that’s for another
column (and probably another author). But it’s also a guideline
for how to trade tasks in your house. You want to assign each
person the tasks on which he or she has a comparative
advantage. It doesn’t matter that you have an absolute
advantage in everything. If you are much, much better at the
laundry and only a little better at cleaning the toilet, you should
do the laundry and have your spouse get out the scrub brush.
Just explain that it’s efficient!
Robert Neubecker
In our case, it was easy. Other than using the grill—which I
freely admit is the husband domain—I’m much, much better at
cooking. And I was only moderately better at the dishes. So he
got the job of cleaning up after meals, even though his
dishwasher loading habits had already come under scrutiny. The
good news is another economic principle I hadn’t even counted
on was soon in play: learning by doing. As people do a task,
they improve at it. Eighteen months into this new arrangement
the dishwasher is almost a work of art: neat rows of dishes and
everything carefully screened for “top-rack only” status. I,
meanwhile, am forbidden from getting near the dishwasher.
Apparently, there is a risk that I’ll “ruin it.”
Questions to Discuss
1. In your family, do you think tasks are divided among family
members according to comparative advantage? If so, how? If
not, how might the allocation of tasks be improved?
2. Do you think being married to an economist would facilitate
family harmony or just the opposite?
Ms. Oster is a professor of economics at Brown University.
Source:Slate, November 21, 2012.

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