I need an explanation for this Economics question to help me study.Hundreds of people worldwide die daily while waiting on an organ transplant list. In many cases there are people willing to help them by giving up their own organs, for a price. However, in most countries governments have intervened in an effort to deal with concerns of fairness. The kidney organ market in the US is one such of these examples. In the United States such sales are illegal under the National Organ Transplant Act of 1984, but while well intended the ban on organ sales does come at a cost.This is an assignment in which you will examine and evaluate the organ market, outlining the merits and weaknesses of regulations as well as suggest an alternative, from an economic point of view. As you progress through the course you will incorporate more and more economic language into your analysis, in the end forming a complete economic discussion.Use the bibliography that I will upload.Case Study as two primary parts, described below.Part I – (this draws on opportunity cost and markets) Describe the market for kidney organs, as it would be in a free market without government intervention, using what you have learned about scarcity, marginal analysis in decision-making, and markets. You must include a discussion of resources, supply and demand, as well as marginal benefits and marginal costs. Think of this as an explanation of the pros and cons of the market using economic terminology.Describe the benefits and costs but leave the discussion of organ rationing and other solutions to the problems in this market for the next part. Describe this market using supply and demand; reference your graph in your description. Include “graph 1” of this market at the end of the paper (not included in page count). This should be a discussion without mentioning Price Controls, only discuss how the kidney organ market would be without government intervention. Feel free to use any stats or data that you find through your own research – make sure you use econ terminology.Part II – (this draws on government )Consider the reasons why the market for kidney organs is not a free market in the US, specifically discuss equity concerns. Expand on your discussion of the market from Part I, using what you have learned about government interventions/price controls. Discuss the current government intervention in the Kidney Market in the U.S. Describe this market – comparing the free market and to the government intervention in one graph – using supply and demand; reference and discuss your graph in your paper. Explain the current government intervention and exactly how it corrects the problems of the free market. Include any other beneficial aspects of the intervention that you find through your own research – make sure you use econ terminology throughout.
Also discuss other Donation Systems Around the World, no need to add a graph here. Explore the policies that are currently implemented across the globe (i.e. some discussed in the articles include – routine removal, presumed consent, organ donor points, “no give, no take”, etc.). Evaluate the limitations of these policies. Also consider how these policies fare in terms of the efficiency vs. equity debate. (You do not need to critique them all, just select from 2 or 3 different countries that you find interesting/appealing.)
FORMATTING The body of the text must be at least 4, no more than 5, full pages: The body of the text (NO header/footers/by lines, separate – title/graph/bibliography page) for the rough draft must be at least 4 full pages (it is best if you write onto the 5th page to be sure you meet the minimum, keep in mind more pages will be added later for the final draft), double-spaced, 1″ margins, and size 12 Arial FONT. File type must be doc OR docx OR pdf. No other file types are supported, especially .pagesMake sure to include a title page and an updated bibliography page (both should be on their own pages and not share a page with the body of the text and are not included in the page count). Graphs/Charts/Figures/Bibliography should be at the very end of the text and are not included in page count. Only use in-line citations with the author and the year in parentheses at the end of the sentence; do not include citations in the footers. The full citation should be given on the bibliography page only. Requirements: 4 pages for the body. | .doc file