Reference no: EM133372699

Use the Rational Decision-Making Model

In this lesson, you will use the rational decision-making model in the same way that economists use it when they are presented with a problem. As you work, please make sure that you complete each step in the model.

Step 1: Define the situation or problem-Choose one of the issues from the list below that affects your community. Then, research the issue using credible sources, focusing on specifics to your area. Use the information you gathered to write a paragraph describing the issue and how it affects your community.

Animal rights
Censorship
Water quality
Disaster preparedness
Food scarcity
Infrastructure
Minimum wage
Local business growth
Education funding

Step 2: Identify the criteria for evaluating potential solutions-To establish the decision criteria you will use, list three questions specific to the issue you chose in Step 1. Use these example questions to help you compose your own.

What are the necessary conditions for any possible solution to work?
Does the public need to be aware of and support the solution?
What challenges are there to implementing each solution?
How else might you judge potential solutions against each other?
What do trusted adults or others in the community say about the issue?

Then, use the questions to create three criteria that you will use to evaluate potential solutions. This is your decision criteria. Use complete sentences in the template.

Step 3: Identify all potential solutions-For the purposes of this assignment, identify four potential solutions to the issue you chose in Step 1. a sentence or two describing each potential solution. Part of the rational decision-making model is recognizing that there are multiple options to solving a dilemma.

Step 4: Evaluate the potential solutions against your criteria-For the purposes of this assignment, select only two potential solutions from Step 3 to evaluate. Use the chart in the template to complete your evaluation. On the left side of the chart, rewrite the decision criteria from Step 2. In the other columns, explain how well each potential solution meets your decision criteria. Identify at least one negative externality that could result from each potential solution and how you could minimize it. Use complete sentences.

Step 5: Choose the best option-In a detailed paragraph, explain why the solution you chose is the best possible option. Select one of the potential solutions you evaluated in Step 4. Your explanation should summarize the evaluation and make a clear argument that supports your choice.