Exercise 1 (30 points) In class, you were told about disembodied knowledge with examples given of the human body, government, and industries. In this exercise, I would like you to write a story. I want you to find and describe a good example of disembodied knowledge in your own life or the line of work you do. In a short story, I’d like you to describe what the problem or ability is that the disembodied knowledge entails and how it was invested in. I’d also like you to describe how the embodied knowledge is maintained and how (if applicable) it is expanded and improved. 2 The goal of this exercise is not to explain what disembodied knowledge is; that is in the slides. Rather, the goal is for you to reflect on your own experiences and memories to find examples from your own life of the concepts discussed in class. I am hoping to read some interesting stories.
Exercise 2 (40 points) This exercise is on the question of whether the government machinery of Saudi Arabia can be understood and controlled via broad indicators in the area of Sustainable Development. A (20 points). Look up and report the actual numbers for Saudi Arabia for a particular year for each of the individual variables in all the 17 Sustainable Development Indicators. Give details on the sources and methods for these indicators. You can choose any year you want. B (10 points) Critique 5 actual values of the numbers you found under A such that you either indicate why a particular number is not correct or why it does not measure something very meaningful for sustainable development. C (10 points). Briefly discuss how useful you think the actual numbers and their changes in the sustainable development indicators are for policy making in Saudi Arabia
Exercise 3 (30 points) Please read the lecture slides for week 4 carefully on the topic of market failures Forms of market failures • 1. Supply coordination (monopoly, oligopoly, rent-seeking). • 2. Cost of information, information asymmetry. • 3. Externalities (public goods, common goods). • 4. Missing markets. • (5. Increasing returns to scale). Pick a private sector of the Saudi economy that you know well and that has at least one of the 5 market failures discussed in the fourth lecture week. [10 pts] Please describe the sector you have chosen including some basic characteristics (the type of good/service sold, the main customers). [10 pts] Explain a market failure you see in that sector. [10pts] Then explain the potential solution you see for that market failure. [BONUS 15 pts]. Give a very brief analysis of the degree to which all 5 market failures are present in this sector, the potential solutions you see, and the winners and losers from those solutions
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