What criticism of this policy might be suggested by the article by David Schmitdz on price controls?

Length:  approximately 500-600 words

To prepare for writing the essay it is highly recommended that you do the assigned readings for this module and watch the lecture videos! The lecture videos are likely to help you organize your interpretation of the readings.

Background: In the spring of 2020, in response to the coronavirus pandemic, many stores in the Tucson area adopted the policy of not really raising their prices on toilet paper despite increased demand for toilet paper.  

Questions for the essay:  What criticism of this policy might be suggested by the article by David Schmitdz on price controls?  And do you agree with this line of thought or not?  Should stores have raised their prices in the face of increased demand?

Internal Citation Requirement for the essay:  Your essay must include at least TWO internal citations where you refer to course materials for this module, one to the Schmidtz article, and one to at least one of the lecture videos for module 7.  For the Schmidtz article, the citation should indicate the page #, e.g. (Schmidtz, p. 1).   For the lecture video, the citation should include the time stamp, e.g. (Oberdick, lecture video 7.3, 6:22).

Internal Citation Requirement Penalty:  Failure to include the citations will result in a 30 point penalty on the assignment, 15 points for each missing citation.

Your essay should be clearly organized in 5 paragraphs (see below) and contain no grammatical errors:

In your 1st paragraph briefly introduce your topic.

This paragraph can be very short, a few sentences in which introduce the topic of your essay and your main claims.

Feel free to use the first person “I” in formulating your essay.  For example, “In this short essay I will discuss… and explain…” etc.

In your 2^nd paragraph describe Schmidtz’s argument against price controls.

Here be sure to describe both of the main elements of Schmidtz’s argument against price controls.

This paragraph should be devoted to explaining the general idea of Schmidtz’s argument, not any specific application of these ideas to the toilet paper case.

In your 3^rd paragraph, apply Schmidtz’s ideas to Tucson stores’ decision not to raise toilet paper prices.

In this paragraph be sure to delineate what criticism, if any, Schmidtz’s arguments might imply for the decision to not raise prices.

In your 4^rd paragraph develop and defend your own position.

            In this paragraph be sure to take a clear stance and then to defend this stance.

Also, be sure to defend your view in relation to the analysis developed in paragraph 3.

In your 5^th paragraph briefly conclude.

            This paragraph can be very brief, 1 or 2 sentences.

Do NOT number your paragraphs or include the assignment questions in your answer.  Your assignment should read like an essay, with appropriate transitions between paragraphs.  For example, you may want to the second paragraph with:  “So, let’s first say describe Schmidtz’s argument against price controls.”

Each paragraph of the assignment will count for a portion of the final grade, as follows:

1^st paragraph – 5%

2^nd, 3^rd, and 4^th paragraphs – 30% each

5^th paragraph – 5%

The assignment will be graded for:

Completeness:  Be sure to answer each aspect of the questions asked.

Accuracy:  Be sure to accurately explain Schmidtz’s position.

Organization:  Your essay follow the 5 paragraph structure outlined above.

Clarity:  Your ideas should be clearly expressed and the reader should be able to easily follow your train of thought.  Avoid convoluted sentences.  Write concisely. 

Grammar:  Your essay should contain no grammar or spelling mistakes.

Length:  The assignment should be at least 250 words long.  There will be no penalty for assignments that go longer than the suggested approximate word count.

References:   This is not a research paper.   Unless you use sources outside those posted on our D2L site, it is not necessary to include a separate reference or works cited page.     But, DO internally cite any direct quotes or closely paraphrased content from our course materials.  For David Schmidtz’s, “Are Price Controls Fair,” use (Schmidtz, p. x).   For lecture videos use, for example, (Oberdick, 7.3, 3:20).