...Unit 1 - Individual Project - Introduction to Macroeconomic Theory Click Link Below To Buy: http://hwcampus.com/shop/unit-1-individual-project-introduction-macroeconomic-theory/ Assignment Details Assignment Description Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time. In economics, they say a picture is worth a thousand words. Below, you will find two scenarios. Your assignment is to discuss the situation by writing the solutions, and then show the solutions and how you got here in one or more graphs or flowcharts. Scenario One Supply and demand are foundational concepts in understanding economic theory. Whether you are a coffee drinker or not, you have been tasked to examine the impact of supply and demand when dealing with the coffee retail industry. A few companies probably come to mind. Pick a major coffee retailer, and then contemplate what has been happening to both the supply and demand for this product. Next, analyze the following scenario that deals with what happened in the coffee industry at the beginning of the last decade: In the early part of the last decade, there was an overproduction of coffee. The price dropped so low that producers' costs were higher than the market price. The reason this happened was that market prices...
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...Unit 1 - Individual Project - Introduction to Macroeconomic Theory Click Link Below To Buy: http://hwcampus.com/shop/unit-1-individual-project-introduction-macroeconomic-theory/ Assignment Details Assignment Description Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time. In economics, they say a picture is worth a thousand words. Below, you will find two scenarios. Your assignment is to discuss the situation by writing the solutions, and then show the solutions and how you got here in one or more graphs or flowcharts. Scenario One Supply and demand are foundational concepts in understanding economic theory. Whether you are a coffee drinker or not, you have been tasked to examine the impact of supply and demand when dealing with the coffee retail industry. A few companies probably come to mind. Pick a major coffee retailer, and then contemplate what has been happening to both the supply and demand for this product. Next, analyze the following scenario that deals with what happened in the coffee industry at the beginning of the last decade: In the early part of the last decade, there was an overproduction of coffee. The price dropped so low that producers' costs were higher than the market price. The reason this happened was that market prices...
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...Microeconomics and the Laws of Supply and Demand Vanessa Hill ECO/365 October 8, 2014 The Supply and Demand Simulation categorized the application of Macro and Microeconomic principles as linked to the real world. It concentrates on that many times the vacancy level can be personal, may rest on individual decision, and the market prices can be easily adjusted to meet different expectations. It also talks about the role of the shift of the supply curve and the demand curve. Demand refers the quantity of a product or service desired by buyers. When demand goes up, usually the prices of the products are expected to rise. The Supply and Demand simulation also is a appropriate case of what we experience everyday as part of our professional lives. The concept helped the client understand the factors that affect shifts in supply and demand on the equilibrium price and quantity. Economics are building blocks on understanding businesses on a financial standpoint and the adjustment curves in supply and demand. Microeconomics is the emphases of the marketplace factors of demand and supply, which normally determines the change of levels in price. This is the part of economics that features particular factors of individual choices. Like change in microeconomics, macroeconomics is the focused area of economic development and changes in general income. Each change in shift affects equilibrium of price, quantity, and consuming behaviors. Concepts of microeconomics...
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...ssignment 1A (100 marks total) Assignment 1 should be submitted after you have completed Units 1 through 5 (Chapters 1 to 12). It is worth 10% of your final grade. Insert your answer to each question below the question. Show your calculations. None of the assignment questions require you to provide a graph. 1. Identify each of the following topics as being part of microeconomics or macroeconomics. (5 marks) a. the impact of a change in consumer income on the purchase of luxury automobiles Microeconomics b. the effect of a change in the price of Coke on the purchase of Pepsi Microeconomics the impact of a war in the Middle East on the rate of inflation in Canada Macroeconomics c. the effect of pollution taxes on the Canadian copper industry Microeconomics d. the effect of a balanced-budget policy on economic stability Macroeconomics All correct 5 marks 2. Which of the following statements are positive and which are normative? (4 marks) a. There is a tradeoff between inflation and unemployment in the short run. Positive b. If consumer income increases, other things equal, the demand for automobiles will increase. Positive c. Canadian workers deserve more liberal unemployment benefits. Normative d. If interest rates increase, investment will decrease. Positive All correct 4 marks 3. a. Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns and why? ...
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...Professor Owen R. Phillips University of Wyoming Ross Hall 124 COURSE SYLLABUS FOR INTERMEDIATE MICROECONOMICS 4020 Course Description and Prerequisites Economics is broadly defined as a way of thinking about problems of allocation. This course entails the use of intermediate microeconomic theory in the analysis of problems facing decision-makers, not only in business, but also in government and other nonprofit organizations. Intermediate microeconomic theory can be described as the theory of choice. It has application to all decision problems. Specific theoretic tools are developed and applied to real world settings in order to illustrate optimal decision guidelines. The prerequisites for this course are a beginning economics class in microeconomics and a basic understanding of algebra and geometry. Required Textbook Required: Pindyck, Robert S. and Rubinfeld, Daniel L., Microeconomics, Third Edition, Prentice-Hall, 1995, ISBN 0-02-395900-2. Determining Your Grade During the course there are two “midterm” examinations. At the end of the course there is a comprehensive final examination; in the final exam there is some emphasis on the material following the second examination. All of the exams consist of multiple choice questions. Questions will be of a problem-solving nature much like those assigned in the homework. The homework questions are excellent preparation for the examinations. Answers to many of these questions are worked in the...
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...[pic] Australian School of Business School of Economics ECON1101 MICROECONOMICS Course Outline Semester 1 2011 Table of Contents STAFF CONTACT DETAILS 3 1.1 Staff 3 1.2 Communications with staff 3 1.3 Pitstop 3 2 COURSE DETAILS 4 2.1 Teaching Times and Locations 4 2.2 Units of Credit 4 2.3 Summary of Course 4 2.4 Aims and Relationship to Other Courses 4 2.5 Student Learning Outcomes 5 3 LEARNING AND TEACHING ACTIVITIES 5 3.1 Approach to Learning and Teaching in the Course 5 3.2 Learning Activities and Teaching Strategies 6 4 ASSESSMENT 7 4.1 Formal Requirements 7 4.2 Quality Assurance 7 4.3 Assessment Details 8 4.3.1 Week 9 In-Session Test 8 4.3.2 Tutorial Participation 8 4.4 Final Exam Format 9 4.5 Feedback Quizzes 9 5 ACADEMIC HONESTY AND PLAGIARISM 10 6 COURSE EVALUATION AND DEVELOPMENT 10 7 STUDENT RESPONSIBILITIES AND CONDUCT 11 7.1 Workload 11 7.2 Attendance 11 7.3 Keeping Informed 11 7.4 Special Consideration and Supplementary Examinations 11 You must submit all assignments and attend all examinations scheduled for your course. You should seek assistance early if you suffer illness or misadventure which affects your course progress. 11 General Information on Special Consideration: 11 8 STUDENT RESOURCES AND SUPPORT 13 9 COURSE RESOURCES 14 9.1 Other useful Readings: 14 10 COURSE SCHEDULE 15 10.1 Lecture Schedule 15 10.2 Tutorial Schedule 15 11 KEY DATES AND STUDENT RESPONSIBILITIES...
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...Northwestern University Kellogg School of Management SYLLABUS and ASSIGNMENTS International Business Strategy INTL 460 SECTIONS 61 and 81 Fall 2008 Professor Daniel F. Spulber Office 606 Leverone 491-8675 E-mail: jems@kellogg.northwestern.edu International Business Strategy Course Description The course defines the objectives and strategies of international business. The course emphasizes economic analysis of international business strategy formulation. Topics covered include gains from trade, costs of trade, and the competitive strategy of the international business. The course considers alternative modes of market entry, including import and export through intermediaries, contracting with suppliers and distributors, strategic alliances and foreign direct investment (FDI). Case studies are used to illustrate the basic principles of multinational business management and strategy. The course introduces the “Strategy Star” analysis. The first week of the course is dedicated to introducing international business strategy and providing a review of the micro-economics concepts that will be employed during the course. The course then introduces the concept of the ‘Global Value Connection.” This concept is used to develop global competitive strategies that depend on doing business between countries. Weeks 2 and 3 present strategies for providing global added value. The course highlights the economic aspects of gains and costs of trade that are relevant...
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...Ajit K Pandey Prof. Kshamta Chauhan Credit Units: 04 Prof. Harendra K Pandey Self Study hours: 80 hours Course Objective This course aims to integrate various principles and concepts from different fields of economics with typical problems of managerial decision-making and policy formulation in business organizations whether in a local or global context. Understanding the application of economic principles to key management decisions will provide guidance to increase value creation within organizations, and allows a better understanding of the external business environment in which organizations operate. Learning Outcomes At the end of this course the student will be able to • − Use the theory of the firm to model business organizations • − Apply demand theory to establish the elasticity of demand • − Use demand estimation to forecast demand trends and change • − Apply production theory to manage production • − Use cost theory to establish short and long run behavior • − Describe market structures to establish market equilibrium • − Use pricing strategies to enable organizational coherence • − Use macroeconomic principles to address market failures |MODULE |Session no. |Topic |Reference |Cases/ Assignment/ Group | | | | |...
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...Week 7 assignments Task 1: Consider the following table of costs for the Winsome Widget Factory, which operates in a perfectly competitive market. The market price faced by this firm is $6.00 per widget. a. Fill in the formula for AFC, AVC, ATC, MC, TR, MR, and Total Profit at the top of the column in the gray section within the table. b. Fill in the missing values for TFC, TVC, AFC, AVC, ATC, MC, TR, MR, and Total Profit in the blue sections of the table. | Winsome Widget Factory | |Output |Total Fixed Cost | |Barnes & Noble books |-4.00 | |Coca-Cola |-1.22 | |Cigarettes |-0.25 | |Beer |-0.23 | |Gasoline |-0.06 | In your project, address the following questions: Using the elasticity estimates in the table above, classify the price elasticity demand as elastic or inelastic. Explain your reasoning. Explain the implications of those classifications on tax revenue collections when the per-unit tax increases as opposed to decreases. Using those classifications, make some assumptions regarding tax incidence. For instance, will buyers...
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...Unit 1 Assignment 1: Concepts of Microeconomics Microeconomics: ECON220-1104B-29 AIU-Online Suequeena Diane Williams November 8, 2011 One of the most basic economic principles is that of opportunity cost. Simply stated, an opportunity cost can be defined as what is required for an individual to give up in attempts to gain something else desired (Moffatt, 2009). Because most choices are individual based in nature, we are often faced with these either-or tradeoff analysis. For purposes of our Unit 1 IP in Microeconomics, I will be considering a scenario between two individuals, Michelle and James. They both possess the same resources and grow potatoes and raise chickens. If Michelle opts to solely raise chicken, then she would yield 50 chickens per year. If she decided to grow potatoes, she would grow 200 pounds per year. If James devoted all of his available resources to raising chickens, he would successfully raise 40 per year. If he opted to grow potatoes, his crop would yield 40 pounds per year. Based on the above information, I will now formulate my original responses to the questions posed by Dr. Liu. 1. What is Michelle’s opportunity cost of producing potatoes? In order to determine Michelle’s opportunity cost for potato production, I must first find out how many chickens she is required to give up in order to grow a pound of potatoes. Based on the information given, Michelle’s opportunity cost is 50/200 which equates to ¼ chicken per pound of potatoes are...
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...Week 11 Assignment Click Link Below To Buy: http://hwcampus.com/shop/week-11-assignment/ Scenario: A city-based community hospital is looking at adding an urgent care facility in a rural area. Urgent care is the delivery of ambulatory care in a facility dedicated to the delivery of unscheduled, walk-in care outside of a hospital emergency department. Development of the Rural Urgent Care (RUC) facility will facilitate access to care providers through extended service hours within closer geographic proximity to patients, families, and caregivers. RUC will act to alleviate demand for emergency department services by shifting lower acute patients to a less resource-intensive environment. This project is in response to the shift from volume- to value-based health care. Payers and purchasers are interested in improving economic efficiency by shifting utilization from emergency department to lower cost settings, such as RUC. Several competing hospitals have hired emergency department physicians, as part of their integration strategy to participate in accountable care organizations (ACO) contracts. The hospital needs to respond to the competitive situation by making a sound investment in the RUC facility that addresses both financial and economic situations. The facility will be staffed with physicians and will include a radiology suite, laboratory suite, and other health-related ventures to help the hospital grow. You must help the board develop a business plan for this...
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...Week 11 Assignment Click Link Below To Buy: http://hwcampus.com/shop/week-11-assignment/ Scenario: A city-based community hospital is looking at adding an urgent care facility in a rural area. Urgent care is the delivery of ambulatory care in a facility dedicated to the delivery of unscheduled, walk-in care outside of a hospital emergency department. Development of the Rural Urgent Care (RUC) facility will facilitate access to care providers through extended service hours within closer geographic proximity to patients, families, and caregivers. RUC will act to alleviate demand for emergency department services by shifting lower acute patients to a less resource-intensive environment. This project is in response to the shift from volume- to value-based health care. Payers and purchasers are interested in improving economic efficiency by shifting utilization from emergency department to lower cost settings, such as RUC. Several competing hospitals have hired emergency department physicians, as part of their integration strategy to participate in accountable care organizations (ACO) contracts. The hospital needs to respond to the competitive situation by making a sound investment in the RUC facility that addresses both financial and economic situations. The facility will be staffed with physicians and will include a radiology suite, laboratory suite, and other health-related ventures to help the hospital grow. You must help the board develop a business plan for this...
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...Unit 8 Assignment: Oligopoly and Monopolistic Competition and Product Differentiation Name: - Course Number: - Section Number: - Unit Number: - 8 Date: - Problem Dr. Fine and Dr. Feelgood are the only two medical doctors offering immediate walk-in medical services in the town of Springfield. That is, they operate in a duopoly. Each doctor can charge either a high price or a low price for a standard medical visit. The accompanying matrix shows their payoffs, in profits per patient (in dollars), for any choice that the two doctors can make. [pic] 1. Suppose the two doctors play a one-shot game—that is, they interact only once and never again. What will be the Nash (non-cooperative) equilibrium in this one-shot game? 2. Now suppose the two doctors play this game twice. Also, suppose each doctor can play one of two strategies: it can play either “always charge the low price” or “tit for tat”— that is, it starts off charging the high price in the first period, and then in the second period it does whatever the other doctor did in the previous period. Write down the payoffs to Dr. Fine from the following four possibilities: a. Dr. Fine plays “always charge the low price” when Dr. Feelgood also plays “always charge the low price.” |FIRST Period |Payoffs |SECOND Period |Payoffs |TOTAL Payoffs | | |Charges | ...
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...students should be able to: 1. Discuss managerial economics and its relationship to microeconomics and other related fields of study such as finance, marketing, and statistics. 2. Decide economic goals for the firm and develop optimal decisions that will bring the firm closest to those goals. 3. Define supply, demand, and equilibrium price. 4. Apply the concepts of price elasticity, cross-elasticity, and income elasticity. 5. Specify the components of a regression model that can be used to estimate a demand equation. 6. Define production function, and explain the difference between a short-run and a long-run production function. 7. Distinguish between economic cost and accounting cost. 8. Describe the key characteristics of the four basic market types used in economic analysis. 9. Cite the main differences between monopolistic competition and oligopoly. 10. Analyze the practice of cartel pricing. 11. Illustrate game theory, and explain how it helps better understand mutually interdependent management decisions. 12. Define the cost of capital, and demonstrate how it is calculated. Credits Upon completion of this course, the students will earn three (3) hours of college credit. Course Structure 1. Unit Learning Objectives: Each unit contains Unit Learning Objectives that specify the measurable skills and knowledge students should gain upon completion of the unit. 2. Unit Lesson: Each unit contains a...
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...Economics 247 Assignment 1 Version A This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 1 through 5. Answer each question clearly and concisely. 1. a. Define opportunity cost, and explain its importance in economics. (3 marks) The opportunity cost of something is what you must give up of one thing, in order to get another. Opportunity cost is a key concept of economics, and is described as expressing the basic relationship between scarcity and choice. The notion of opportunity cost plays a crucial part in ensuring that scarce resources are used efficiently. b. The province of British Columbia hosted the 2010 Olympic Games and invested millions of dollars in improvements to facilities for these events. How would one determine the opportunity cost of the 2010 Olympic Games? In order to determine the opportunity cost of the 2010 Olympic Games, the province must consider what they could have done with the money (4 marks) if they had invested it elsewhere Also to be considered is the Event Benefits less the Event Costs. 2. Use the graph below to answer the questions that follow. (2 marks each) [pic] a. What type of curves are these? Do these curves show a positive or negative correlation between price and quantity? The...
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