Consider how an economic model can be viewed as a simplified description of reality, designed to yield hypotheses about economic behavior that can be tested. In essence, a simulation. Hence, one important element of an economic model is that it is necessarily subjective in design because there are no objective measures of economic outcomes. If different economists make different judgments about what is needed, how can we tell if a model is ‘useful’? What does this tell us about economic behavior?
Read the following article about globalization and write a two to three- page paper explaining your thoughts and what you learned. Your paper should cover the following points: 1. What is globalizatio
Read the following article about globalization and write a two to three-page paper explaining your thoughts and what you learned. Your papershould cover the following points:1. What is globalization?2. What are the central points of each section?3. What do you think about globalization? (You can relate it toreal world events