economics

A detailed Summary of economics

It is pretty common that Universities use a system of seniority rather than an auction for getting parking spots at campus. An auction system will give parking spots to those who value them the most; however, this system actually create an inefficient outcome.

Can we imagine if our university staffs or the professors do not get the parking spots from the auction? Can they make a good excuse for being late for class because they don't have a parking spot? Faculty staffs work at school everyday and also employed by school, so they should have priority to get the spot as they are providing education and services to the student. Besides, there might be a possibility that some professor may quit the job when the bidding price is over than his budget. Then the school will lose a good teacher. If you calculate the amount lost in productivity due to faculty and sta

In conclusion, the auction system seems to bid up the parking price which give an image to the public of making money. Conversely, the seniority system is fair to the seniors and works efficiency. Therefore, we can understand that why CMU will use the system of seniority rather than auction.

|How about the graduate student, the seniors, juniors and freshmen? Most of the graduate students and senior students are required to take some specific courses or night classes, and need to do a lot of research writing, it is better to offer them a parking for convenience. In contrast, there is variety of classes for freshmen to choose in their first year, so they might not necessary to take night classes or other specific classes. In fact, many freshmen living in the dorm on campus, where it is just few minutes away from campus. So they actually value the parking the leas

Some common words found in the essay are:
, parking spot, parking spots, system seniority, auction system, spot bid, parking spot bid, system seniority auction, money conversely, late class, 50 students, seniority system, classes freshmen,

Approximate Word count = 585
Approximate Pages = 2 (250 words per page double spaced)

Category: Miscellaneous

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