ECONOMICS 397EP THE ECONOMICS OF PIRACY

Guidelines for Short Paper # 1

This assignment is based around the economic concept of public goods. The aim is for
you to understand the meaning of this concept and how it is employed in economic analysis.
You will first of all be expected to define the concept in an abstract sense. This definition should
be clear and demonstrate your comprehension of the concept at the abstract level. Make sure
that you identify different aspects of this concept and provide a comprehensive and nuanced
definition. You are welcome to read economics textbooks and other references to formulate your
definition but please cite any sources you have used and do not simply copy the definition but
rather put it in your own words.
Secondly, you should explain how this concept is used to explain the behavior of pirates
in the golden age of Caribbean piracy as detailed in both Peter Leesons and Marcus Redikers
books. Do the two authors agree or differ in their explanations of these aspects of piracy? You
should discuss what aspects of pirate behavior are explained by this concept and consider
whether other explanations may be more appropriate. Within the context of Caribbean piracy
you should evaluate how persuasively this concept explains these historical circumstances.
Thirdly, please consider the various other historical forms of maritime piracy presented in
lectures. Evaluate whether or not the idea of public goods has explanatory power when applied
to the broader historical scope of piracy. If applicable, please enumerate the qualifications and
limitations of this concept as applied in a wider historical context. Consider whether the lectures
reinforce, reject or complicate this concept and its application in the readings. You are
encouraged to critique the interpretations presented in the lectures, class discussions and
readings.
Finally, you should conclude with an overall evaluation or critique of this concept. State
whether you feel that the concept is useful, not useful or partially useful in explaining piracy.
You may also provide a modified definition, or qualifications of the concept that you feel are
more effective in explaining the phenomenon of piracy.
Please also bear in mind that the quality of your written expression is a crucial
determinant of the quality of your analysis. Please follow the basic structure outlined here, but
be sure that your arguments and analysis are clear, coherent and follow logically from one
another. If your written English is frequently misspelled and with syntactical errors, your essay
will be penalized accordingly.
The papers should be 5-7 pages (double-spaced, 12 pt. font with 1 inch margins), and
should use information from lectures, discussions and the reading materials from the course.
Papers must be uploaded onto Moodle, before the beginning of class at 1:00pm on Thursday
October 8, 2015. Late papers will be penalized 1/3 of a letter grade each day they are late (so
from A to A- or B- to C+). Extensions will only be permitted for valid emergencies and must be
requested well before the assignment is due.