Topic 1:
The tensions between science and culture extend far beyond disputes over evolution. In some cases, science and culture disagree not only on what is true, but on which actions should be taken in the real world. The story of Kennewick Man is a perfect example of this.
question 1
Who do you think deserves ownership of the remains in each case and why?
Most are the times that culture and science do not agree on several issues and the only way forward is to find a compromise between the two given the fact that they are both important to the human race. In the first case, I feel like the local tribes should be given a chance to bury the remains of their ancestors widely referred to as Kennewick Man primarily because culture is so dear to the Indians and it is a sign of respect to the ancestors. The bones should be reburied by the concerned tribes. On the other hand, I feel that it is not necessarily important to return some of the artifacts and bones to their original countries, mainly because by being preserved in other countries, opens a door and a platform for other cultures and people to understand the culture of that particular region.
Question 2
What should be done with these remains and what concessions would this require the scientific community and/or the tribes to make?
Some of the criteria that should be added to ensure that the research is conducted in a moral and ethical manner include:
- Maintaining respect and confidentiality – given the fact that the bones may reveal secrets of a particular tribe, the scientists have the moral duty to ensure that they do not infringe the privacy and confidentiality of the concerned tribes.
- Following informed-consent rules – when done properly, the consent process ensures that persons are voluntarily participating in the research with the full knowledge of relevant risks and benefits(Sargent, 2013).
Topic 2
Underemployment and Unemployment
There are different types of unemployment in the economy. Moreover, some employed people are underemployed, particularly during economic downturns like recessions.
Discuss the differences between unemployment and underemployment and give examples for each of them.
Question 1
What are the costs of unemployment and underemployment on the economy? Which of them do you think is a more serious “problem” for the economy?
Despite the strong correlation between unemployment and underemployment, there is a slight difference between the two. Underemployment occurs when people in a workforce are employed at less than full-time or regular jobs or jobs, inadequate in their training and economic needs while unemployment occurs when individuals with the necessary skills to perform a task fail to secure a job. Some of the possible costs of unemployment include deterioration of the living standards in a country, increased crime, low savings and poor diet. On the other hand, underemployment is likely to bring underutilization of skills and labor in a country, underutilization of economic resources and underuse of the employed labor force.
Question 2
How might underemployment be addressed through government policy?
Some of the possible ways to solve underemployment problems in a country are by increasing government spending in that particular area which in turns increases the amount of money in circulation, and thus individuals can invest. Moreover, offering training can be a good step forward considering that now people can possess the necessary skills to start their private entities and become full-time employees (Ormerod, 2013).
Question 3
What are the various forms of unemployment? What type of unemployment is the most difficult to solve? Why?
Some of the possible types of unemployment that a country may face include:
- Seasonal employment
- Cyclical unemployment
- Voluntary unemployment
- Involuntary unemployment
- Disguised unemployment
However, seasonal unemployment is hard to control given the fact that the government or other agencies have no power to control the seasons.
Topic 3
Costs of Inflation
In this Unit, you discussed some of the problems associated with inflation. Stabilizing prices is one of the macroeconomic goals of policy making. Price stability calls for taming inflation or deflationary pressure in the economy.
List one of these problems and describe a situation in which you encountered this problem.
Question 1
What are the costs of inflation? What are the costs of deflation?
Some of the possible costs of inflation include reduced international competitiveness, causes confusion and uncertainty in a country’s currency and economic policies and causes booms and bust economic cycle in a country. On the other hand, deflation is likely to cause a reduction of the level of employment as a result of wage rigidity, underutilization of a country’s input and poor distribution of wealth from borrowers to lenders.
Question 2
Why do policymakers need to tame inflation (deflation) in order to stabilize prices?
The policy makers need to tame inflation in a country to maintain their competitiveness in the foreign markets, maintain a stable economy by maintaining an appropriate employment level as well as minimizing losses of their outputs regarding labor and resources (Ormerod, 2013).
Question 3
When does rate of inflation become a problem in the economy?
A little inflation is good for any economy, but it becomes a problem when it is unexpected, or it is very high as people are afraid of spending their money thus halting the economic growth.
References
Ormerod, P. R. (2013). Inflation/unemployment regimes and the instability of the Phillips curve. . Applied Economics, 45(12), , 1519-1531.
Sargent, T. J. (2013). Rational expectations and inflation. . Princeton University Press.
