Q Purpose In economics, we learn and discuss many concepts and ideas about the economy and life. However, these concepts can be abstract and not applicable to the real-world. The purpose of this assignment is to help you relate to real-world events with economic concepts and principles. Through critical analysis, you will make sense of real-world events through economic thinking and demonstrate your understanding through writing. Task 1. Please choose a podcast within the last 4 months from the Indicator (https://www.npr.org/podcasts/510325/the-indicator-from-planet-money (Links to an external site.)). These podcasts are about 10 minutes or less and cover an economic issue. You may want to listen to several podcasts before choosing one that interests you. Ideally, try to pick something that has an international focus or is relevant to supply-chain or international economics. 2. After listening to the podcast, write a short paper that addresses the following questions in 3 paragraphs: o Paragraph 1: In your own words, summarize the ideas from this podcast. What topic/question/concept is this podcast trying to address? o Paragraph 2: What does our textbook say about this particular issue? Use the textbook to define and discuss the issue or concept. Please reference the chapter, section, and page number. o Paragraph 3: Why did you pick this podcast? Why is this particular podcast and topic interesting to you? How are the things discussed in this podcast applicable to your life? 3. As you write your analysis, please make sure: o You choose only podcasts and topics you are truly interested in. This will make your writing much easier and you will learn so much more if you choose something you are actually interested in. Only choose podcasts within the last 2 months. o Include the title of the podcast and the date of the podcast at the beginning of the paper. o Write your paper in a Word document. Please keep your font size consistent at 12 o Use complete sentences and proper grammar. Your writing should be direct and concise. Please avoid run-on sentences. 4. Once you submit your paper, you will be given another student’s paper to review. In your review: o Listen to the podcast that the paper is on. o Check to see if the paper met the rubric. o In 50 words or more, discuss what you liked about the paper. What were the strong points of this paper? o In 50 words or more, discuss what suggestions can you give to help improve the paper? What questions or issues that you would like to learn more about? 5. In writing your review, please make sure: o Make sure you listen to the podcast before you review the paper. o Be polite and constructive in your comments. Do not make personal comments or attacks on the writer. o Do not repeat or just reword what is discussed in the paper. Make value-added contributions in your discussion of the paper. Rubric Podcast Podcast Criteria Ratings Pts This criterion is linked to a Learning OutcomeFormat Word document. Font size 12. Title and date of podcast at the beginning of the paper 3 pts Full Marks 0 pts No Marks 3 pts This criterion is linked to a Learning OutcomeParagraph 1 7 pts Exceptional Major points are addressed and are well supported. Content and purpose of the writing are clear. 5 pts Acceptable The summary recalled some information but left out several important points. 3 pts Needs work The summary was inadequate and too brief. Most of the information was left out or incomplete. Points are unclear 0 pts No Marks Did not include summary of podcast or paragraph is very short 7 pts This criterion is linked to a Learning OutcomeParagraph 2 7 pts Exceptional Explanation demonstrates an outstanding level of critical evaluation and thinking about the evidence presented in the podcast and application of economic principles. Included appropriate references in the textbook. 5 pts Acceptable Explanation demonstrates a good level of critical evaluation and thinking about the evidence presented in the podcast and application of economic principles. Included appropriate references in the textbook. 3 pts Needs work Explanation demonstrates a poor level of critical evaluation and thinking about the evidence presented in the podcast and application of economic principles. Did not include appropriate references in the textbook. 0 pts No Marks Did not include any discussion of economic concepts and definition or paragraph is very short 7 pts This criterion is linked to a Learning OutcomeParagraph 3 8 pts Exceptional Included thoughtful reflection of topics and concepts. Demonstrated personal application and interest in topic/concept. 6 pts Acceptable Demonstrated a good level of reflection and personal application of topic/concept. 4 pts Needs work Demonstrated poor level of reflection and personal application of topic/concept. 0 pts No Marks Did not include any personal reflections to the podcast or paragraph is very short or incomplete 8 pts Total Points: 25