- 01 Apr, 2021
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QIUFENG-ECON PRESENTATION NO,2
Imagine that you have been hired by the CEO of a company owning a chain of restaurants to advise on Covid-19 protocols to be followed by employees. This company is an imaginary company of any size in any country you choose. This is your presentation to the CEO. When you use data, briefly mention the source. Do not quote anyone: put everything in your own words.
Begin by estimating the costs to the company of having employees become sick with Covid-19 or transmitting Covid-19 to customers. This is your chance to showcase what you learned about estimating damages. Get some actual numbers relating to Covid-19 sickness. You can make up the numbers having to do with the company’s business, but try to be realistic.
Next, suggest two protocols for employees to follow to minimize the chance of employees getting Covid-19 or spreading Covid-19. One of these can be a conventional protocol. The other should be a tax, permit, or CBNRM policy. Although this sounds crazy, your CEO is an economics fan and has asked you to come up with something like that. Showcase your knowledge of policy.
For each protocol, estimate the costs to the employees of following the protocol. Try to be realistic.
For each protocol, describe cost effectiveness in terms of the equimarginal principle.
For each protocol, estimate the costs to the company of administering, monitoring, and enforcing the protocol. Try to be realistic.
For each protocol, describe whether employees will consider it to be fair.
For each protocol, describe whether it will give employees an incentive to think of new ways to reduce their chance of getting or spreading Covid-19.
Conclude by comparing the two protocols and advising the CEO to emphasize one over the other and/or to apply both protocols. You do NOT have to perform a CBA or calculate NPV.