Final Exam Review for Econ of Crime Spring 2012 1.

. What are the common elements of white collar crime? 2. What actions were taken by MCI in order to hide their accounts receivable collection issues. (This question pertains to the Walt Pavlo case study) 3. What were the key points of Levitts summary on the decline in crime through the 1990s. Your discussion should include all aspects including the points summarizing the general features of the drop, the variables which had little or no effect, and the variables which he felt were significant in explaining the drop in crime. 4. What are the characteristics and requirements of a Street Drug Market? 5. Graphically show how the market for heroin (or any drug) would be impacted if it were legalized. How would the graph change if you factored in advertising costs and taxation? 6. What is the difference between legalization of drugs and decriminalization? What are possible economic benefits from each policy? 7. What are the effects graphically of our current drug policy on "social users" and "addicts"? 8. In a comprehensive manner, discuss the issues surrounding immigration along the southern border as it relates to the economy (both federal and local), drug markets, and labor markets. 9. What are three general goals for a drug enforcement program? Does our current policy achieve these goals? 10. What are the arguments of Friedman and / or Bennett in regards to the legalization of drugs? 11. Explain the Economics of Capital Punishment. (You will not find this specific question in your notes, but we have talked about Capital Punishment and we have talked about Economnics --- answer accordingly.) 12. Assume you are a Social-Economist --- you have been asked to advise a local politician on some difficult issues. You need to be prepared to take a PRO or CON position regarding one of the following and justify your position based on what we have learned in class: - Legalization of Drugs - Capital Punishment - Illegal Immigration / Border Issue Other Topics: - Lecture notes - Blackboard Items and Articles - Remaining textbook (Chap 7,8,9 only)
SUMMARY At least 6 of the questions listed above will be on the final exam. In addition, other short answer questions may also appear from the material we discussed in class during the last half of the semester. The multiple choice & true-false portion will consist of approximately 45-50 questions over the material covered since our 2nd test.