Throughout this semester, we studied the six economic way of thinking, and we showed how specialization and trade improve economic growth and efficiency. Using the economic model of demand and supply, we studied market structures and the effects of government regulations in these markets. In this module, we provided some rules that rationalize decisions under uncertainty. Throughout the coronavirus pandemic, many scholars are hoping that this natural crisis might help individuals and governments change their decisions towards more inclusive and sustainable policies. The big questions are: Would they? How prepared is the United States for the inevitable next disaster? Would the world be ready for the next natural crisis? If not, how could we do to make things different? What should I do? In this assignment, I am inviting you to discuss your thoughts as you reflect as an economist on the questions above. Prepare a concise exploration in a maximum 3-page essay on the prevention of natural disasters.
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