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Topic:

THE ECONOMICS OF LEGALIZING MARIJUANA (OUTLINE)

Essay Instructions:
This assignment will enable you to: -Describe and analyze the principles of economics that apply to the functions of individual decision makers, both consumers and producers within the larger economic system -Identify the nature and functions of product markets -Describe the nature and functions of factor markets -Apply graphs and tables to illustrate cost and revenue of firms in different market structures -Describe the role of government in promoting greater efficiency and equity in the economy -Describe the importance of economic analysis in real world situations P/S: I also sent you my outline -------------------------------------------------------------------------------- The Individual Term Paper is a research paper based on a current microeconomic issue. Your topic must be approved by the instructor. The topic is -The Economics of Legalizing Marijuana Structure of the Paper Follow the normal writing style—there must be at least four sections to your paper. See example below. -Section I: Introduction—Explain the purpose of your research. -Section II: Literature Review—the information here can come from the library journals and The Wall Street Journal, current or past. -Section III: Analysis of the Literature. -Section IV: Conclusion and Recommendations. (For those of you having problems with writing a research paper, please go to: http://webster(dot)commnet(dot)edu/mla/index.shtml for a quick review) All references must be cited, and there must be at least five different references from different sources. The paper must be about eight pages (2000 words) in length, typed in double space. You should use good punctuation and grammar. You will need to submit the paper as a Microsoft Word document.
Essay Sample Content Preview:

THE ECONOMICS OF LEGALIZING MARIJUANA (OUTLINE)
Carolyn Nguyen
Excelsior College
Srinidhi Anantharamiah
08/04/2013
Introduction
As Jeffrey Miron highlights in his study, (2005), Nobel laureates George Akerlof, Milton Friedman, and Vernon Smith have offered valid reasons for their support for the legalization of marijuana. The top scholars from prestigious institutions with professional career that has spanned several years have argued that just like tobacco and alcohol, marijuana can make a proper deal of financial implication if legalized. This is because it shall produce a significant amount of revenue through taxation to the day to day management of individual jurisdictions around the developed world (Caulkins & Bond, 2012). This means that the federal governments in the US for example site to save on costs significantly thanks to the potentially new revenue stream that the legalization of the drug holds.
The debate over the legalization of marijuana has intensified in America over the past three decades. The heated debate revolves around the possible results that would arise from the legalization process. A number of states have, consequently, altered their existing laws in order to reduce the penalties for possessing marijuana. Nevertheless, the most compelling argument for the legalization of marijuana is the effect it would make on the economy and government funds.
However, to legalize marijuana it would be beneficial to put its impact on users into consideration. The point in question is whether marijuana leads to addiction or not. This is an issue that draws mixed reactions. According to Garlinger (2004), most marijuana users, including heavy users, experience no withdrawal symptoms when they leave the drug. This may indicate that marijuana is not a drug that leads to addiction. For this reason, it would be prudent to legalize the drug and reap the financial benefits without worrying about its effects on users.
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