...ECN 400 WEEK 6 MACROECONOMIC INDICES To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-6-macroeconomic-indices/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 6 MACROECONOMIC INDICES ECN 400 Week 6 Critical Thinking: Macroeconomic Indices Critical Thinking: Macroeconomic Indices (70) Begin working on your Portfolio Project by researching and selecting an article for your analysis. Appropriate articles are those that: • Are no older than six months old • Contain at least three general economic principles • Contain at least three to five macroeconomic indices. • Submit an outline that provides information on your article and the three general economic principles and the three to five macroeconomic indices you will be discussing in your Project. ECN 400 WEEK 6 MACROECONOMIC INDICES To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-6-macroeconomic-indices/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 6 MACROECONOMIC INDICES ECN 400 Week 6 Critical Thinking: Macroeconomic Indices Critical Thinking: Macroeconomic Indices (70) Begin working on your Portfolio Project by researching and selecting an article for your analysis. Appropriate articles are those that: • Are no older than six months old • Contain at least three general economic principles • Contain at least three to five macroeconomic indices. • Submit an outline...
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... School of Management BACHELOR OF MANAGEMENT Semester II, Academic Session 2012/2013 COURSE OUTLINE ATW108 – MACROECONOMICS ZAINON B HARUN Tel: ext. 2532 Room no. 122 h/p 019-577-2882 e-mail: zainon@usm.my DR TAJUL ARIFFIN MASRON Tel: ext 5158 Room no. 110 e-mail: taj.arif@yahoo.com OVERVIEW The ideas of economist and political philosophers, both when they are right and when they are wrong, are more powerful that is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. John Maynard Keynes (1883-1946) Two fundamentals facts together constitute the economizing problem and provide a foundation for economics: Society’s economic wants and Economic resources. Individuals and institutions have innumerable unfilled wants and creating unstable economic conditions. Macroeconomic is concerned with the behavior of the economy as a whole; instead of focusing on the factors that influence the production of particular products and the behavior of individual industries, it focuses on the determinants of total national output. Macroeconomic is concerned with the decision. Decisions to achieve the economic goals, Sustainable economic growth, full level of employment, economic efficiency...
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...Identify two microeconomics and two macroeconomics principles or concepts from the simulation/video. Explain why you have categorized these selected principles or concepts as microeconomics or macroeconomics. Identify at least one shift of the supply curve and one shift of the demand curve in the simulation/video. Explain what causes the shifts, and how each shift affects the price, quantity, and decision making. Include responses to the following: How might you apply what you learned about supply and demand from the simulation/video to your workplace or your understanding of a real-world product with which you are familiar? How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on equilibrium price and quantity? How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity? How does the price elasticity of demand affect a consumer's purchasing and the firm's pricing strategy as it relates to the simulation/video? Cite a minimum of 3 peer reviewed sources. Click the Assignment Files tab to submit your assignment. Option 2: Watch the Khan Academy Video "Changes in Market Equilibrium" located in the Week 1 Khan Academy Videos. Write a 1,050- to 1,400-word paper summarizing the content of the simulation and address the following: Identify two microeconomics and two macroeconomics principles or concepts from the...
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...rents apartments within the town. They currently have a vacancy rate of 28 percent. The principles of macroeconomics as well as microeconomics can help them understand and decrease the vacancy rate to 15 percent. It is important for the company to understand the shifts in the supply and demand curves. The rental company can be more successful if they know when to raise or lower the rent. Understanding that economics plays a large role in everyone’s environment will help people and companies be more successful.. Supply and Demand Simulation In the simulation, it is made apparent how often people must deal with the principles of macroeconomics and microeconomics. Every single person is affected by supply and demand. Understanding these aspects of economics will allow people to have a better grasp on the when’s, why’s, and where’s of making purchases in their everyday lives. In addition, understanding the price elasticity of demand can also help a person to understand the importance of how lower and higher demand can have a direct impact on prices. Macro and Microeconomic Principles Supply and demand are the two microeconomic principles that appear in this simulation. When discussing the rental apartments in Atlantis, the simulation discusses the supply and demand associated with them. Macroeconomic principles also appear in the simulation. These principles relate more to the adjustments occurring in the population flow when discussing whether...
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...there were several microeconomic and macroeconomic principles covered. Also, there were shifts in the supply or demand curve throughout the simulator, and I will explain the shifts in greater detail. To understand what microeconomic principles were used in the simulator, understanding what microeconomics means is important. Microeconomics is the study or analysis of the economy or market on an individual or business level. It focuses on individual buyers and sellers within businesses. One example from the simulator of microeconomics is when Susan asked me to decrease the vacancy rate to 15 percent. In order to do this, I must decrease the cost of the apartments to try and increase the demand or interest in vacant apartments. The reason this is microeconomics is because the decision a decision made on an individual level and has to do with the buyer and seller only to benefit my business. Susan later asked me to lease out all 2,500 available two-bedroom apartments available. In order to do this, Hal suggest we raise the monthly rental cost for the two bedroom apartments so we can cover the maintenance cost. We have to do this in order to stay profitable. This is microeconomics because again, it is focused around the buyer (renters) and the seller (GoodLife Management). The decision to raise the cost was made on an individual or business level in order to stay profitable, which classifies this shift as microeconomics. Macroeconomics is the study or analysis of the economy...
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...Supply and Demand Microeconomics and macroeconomics are both very similar and they both effect economic decisions made by people. Microeconomics focuses on the individual, or the household, and how they make financial and economic decisions. Macroeconomics focuses on the economy, and people, as a whole. It studies what society does financially as a whole. I read the exercise and I also watched the video, but this paper will focus on the video we watched about the apples and pears. There were several microeconomic principles presented in this video. One example of a principle of microeconomics is the increase in demand of apples after apples were said to cure cancer. This causes more people to want to purchase apples. This increase in demand increases the price as well, and the increase in price will cause the supply to go up to. The video also showed an example of how supply can shift as well. In the first example, there was a new invention that helps to prevent apples from disease. This helps the growers out immensely and they are now able to produce and sell more apples. This change in supply causes the supply curve of apples to increase to the right. This shift in quantity supplied causes the price of apples to drop. Both of these are examples of microeconomics. The decision on whether to purchase apples is up to the consumer, or individual, and is based on the price of apples or the benefits of apples. A consumer will always buy the cheaper product or they...
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...to do with economy. Example why are interest rates to Low? Because supply and demand. Why is Gasoline so high? supply and demand. This paper will speak about a simulation found on University of Phoenix student website, simulation named “Applying Supply and Demand Concepts” This paper will speak about macroeconomics and microeconomics principles, Paper will also refer to shift of the supply curve and shift of the demand curve. Also how the how concepts of Microeconomics and Macroeconomics help understand the factors that affect shifts in supply and demand on the equilibrium price and quantity, and last how the price elasticity of demand affects a consumer’s purchasing and the firm’s pricing strategy. Microeconomics and Macroeconomic Principles According to Colander (2010) Microeconomics is define as “the study of individual choice, and how that choice is influenced by economic forces.” With this in mind, principles present on the “Applying Supply and Demand Concepts” simulation are Rental unit Prices and Rental units supply. According to Colander (2010) Macroeconomics is defines “is the study of the economy as a whole.” With this in mind one can say that macroeconomics principles on this simulation are population trends that lead people to choose to rent or not rest and factors that lead people to make this type of choices. According to Colander (2010), states that Demand can be defined as “Quantity demanded rises as price falls, other things constant. Or alternatively: Quantity...
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...Fundamentals of Macroeconomics Essay I. Ojeda University of Phoenix ECO/372 June 26, 2013 Chris D. Foster Fundamentals of Macroeconomics Principles of Macroeconomics is the study of what people do or use to coordinate good and services, to understand economics we must know the fundamentals of economics. Macroeconomics is the decision making on how economics evolves in our everyday lives. Principles of Macroeconomics include a variety of terms that helps to determine the Economy in United States. Some of the terms by most economists are; Gross Domestic product (GDP), Real GDP, Nominal GDP, Unemployment rate, Inflation rate, and Interest rate. The first subject that I will cover and discuss on this paper will include Gross Domestic Product (GDP). What’s Gross Domestic Product (GDP)? Is the standard living through its goods and services within the market value in a country in a period of time. Is the value of the amount of how much each household and businesses can produce and report each year in United States. GDP can also be measured by adding up the value of the domestic expenditure made at the end of the year. Those expenditures can be described as consumption; government expenses, investment, and total spend on exports. How Microeconomics can be impacted by GDP is when showing potential and economics are able to see what was expected. This can be used during recession to tract how the country’s economy is doing and...
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...Differentiate between Microeconomics and Macroeconomics Name Institution Differentiate between Microeconomics and Macroeconomics According to (Krugman, 2005), Microeconomics involves analysis of individual economic units such as households, demand, and supply and market equilibrium. Macroeconomics, on the other hand, includes analysis of aggregate economic variables such as national income, inflation, unemployment and interest rates. My primary objective in this paper, therefore, is to differentiate between macroeconomics and microeconomics. This fact alone cannot distinguish macro and microeconomics. Nevertheless, microeconomics and macroeconomics are interdependent. While analyzing macroeconomics an economist has to ask questions which affect the standards of living of an entire country. Such issues will be related to inflation, unemployment, national income, product markets, fiscal policies, international trade, economic growth and interest rates (Mankiw, 2007). On the other hand, an economist while analyzing Microeconomics will look at individual’s purchasing power, demand, supply, income, utility level, labor markets, production, consumption and opportunity cost. Macroeconomics is concerned with the national income and the gross domestic product while Microeconomics is concerned with the impact of an increase or decrease in a single economic variable (Krugman, 2005). Microeconomics works on the principle that prices of goods and services are determined by the...
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...in the big picture of both microeconomics and macroeconomics. GoodLife Management is a company that manages rental complexes and has a monopoly of sorts in that it is the only company that rents at seven certain complexes. As Lintech, a new company moves to Atlantis an increase in the demand for housing causes some change in both prices and supply. A good example of one principle of microeconomics in the simulation is the concept of reaching equilibrium, where supply and demand (opposing forces) cancel each other out (Colander, 2010). When Lintech moves to Atlantis there is a sharp increase in which a surplus on the market caused a downward pressure on the price. At that time there was no shortage or surplus because equilibrium was reached. Another principle that demonstrates microeconomics is that of opportunity costs. During the simulation Lintech, a large company moves in to Atlantis which causes the demand for rentals to increase. Opportunity cost is essentially what you give up to attain what you desire (Colander, 2010). The concept of employees of Lintech needing to travel to and from Atlantis and giving up other things in order to either accommodate the travel time and expense or accommodate moving to the city of Atlantis to be closer to work brings to mind opportunity cost. A principle of macroeconomics that is shown in the simulation is when the government imposes the price ceiling. This is because macroeconomics involves the study of economy as a whole and more...
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...Microeconomics and the Laws of Supply and Demand Terry Cerami ECO/365 September 21, 2015 David Flesh Microeconomics and the Laws of Supply and Demand Utilizing the supply and demand simulation ("University Of Phoenix", 2014), I will illustrate two macroeconomic and two microeconomic principles demonstrated in the simulation and expound on why these principles are categorized as microeconomic or macroeconomic. Also, one shift of the demand curve and one shift of the supply curve from the simulation will be identified with explanations for the shifts. Further, I will analyze the influence on decision making in correlation with quantity and the equilibrium of price and how these concepts of demand and supply can be pragmatic in everyday business or within the current work environment. Finally, I will explain how price elasticity of demand has an immense impact on products pricing strategy and its purchase from the consumer. Macroeconomic and Microeconomic Principles The first macroeconomic principle demonstrated within the Supply and demand Simulation is Price Ceilings. Price Ceilings ensue through legislation as laws are enacted establishing a lawful ceiling of how high the cost of a product can be ("Price Ceilings", n.d.). When a price ceiling is established, there is further demand than what is available at the equilibrium price. This is a result of there being a sufficient supply in quantity of demand than supplied quantity. For example, in the simulation the...
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...Fundamentals of Macroeconomics JoRenie Armstrong ECO/372 March 23, 2015 Yohannes Mariam Fundamentals of Macroeconomics Fundamentals of Macroeconomics economic principles apply and affect the entire economic system that encompass the world. Macroeconomics directly impact every part of our government and every individual’s quality of life. The health of the nation’s economy affects our economy. A few areas that determine economic health are the gross domestic product (GDP), gross national product (GNP) the unemployment rate, the inflation rate, and taxes. The Principle areas of Macroeconomics covered in this paper examines the flow of resources between three entities - government, businesses, and individual households. Their interconnecting relationships of how various economic activities connect and affect one another verbalized from the author’s perspective. Households Daily acts, such as buying groceries has an enormous impact on our economy. Purchasing groceries on a regular basis directly affect the GDP. Consumer spending is a driving force of a nation’s economic health. The Gross Domestic Product (GDP) defined is the final monetary measurement of a country’s production activities, of goods and services, bought by the end users in a given period. Purchasing groceries for consumption is part of the GDP collection process. This factor is how individual household purchases affect the nation’s economy. In times of a recession, consumers spending decreases. Consumers...
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...looking to reduce the vacancy rate from 28% to 15%. Lowering the amount of available units was no easy task for Good Life management and likely would not have been achieved with a solid understand of the principles of the micro and macroeconomics and the supply and demand curve. This simulation has taught the importance of economics and how the play an important part of everyday life. Micro and macroeconomics play a key role in the everyday lives of people and corporations. In the simulation in this weeks assignment Atlantis is a prime example of just how often people come into contact with situations with two important factors of economics. The two important factors are supply and demand and they affect everything that we as people do in everyday life. Understanding supply and demands makes consumers, the supplier and us, determine when it is best to buy and best to sell. Understand this principle enables us to make more informed purchasing and selling decisions. There are a number of real world examples of how micro and macroeconomic principles appear in this weeks assignment simulation, but mostly macroeconomics come into play because it is in the perspective of the business franchise, Good Life Management. Supply and demand are two microeconomic principles that appear in the simulation and in regard to the rental apartments in Atlantis, supply and demand is what is used to find balance in the rental housing...
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...several factors that affect demand and supply of the two-bedroom apartments leading to shift in both the demand and supply curves. One of the microeconomic principle in this simulation is the law of increasing opportunity cost because it states that production of an additional unit of a product increases the cost of production. It therefore means that increasing the number of two-bedroom apartments will increase production cost. Another principle is that an increase in the price of a product leads to decrease in demand of the product. Low rental rates attracts more clients but an increase in the rental rates leads to decrease in the number of clients willing to rent the apartments. On the other hand, macroeconomic principles in this simulation include the principle of specialization. Specialization makes the economy to be more efficient and so in this case Goodlife firm that has specialized in renting apartments in Atlantis is very efficient and effective because it does not deal with any other business. Another macroeconomic principle is the principle of demand and supply. High demand for two-bedroom apartments calls for an increase in supply. Demand and supply curves may either shift inwards or outwards depending on the market changes. Macroeconomic principles examine the economy as whole unlike microeconomic principles which only focus on a single market. Supply and demand may either be affected by internal or external factors. The demand curve shifted outward as...
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...and the Laws of Supply and Demand Eco 365 Instructed by: The purpose of this paper is to review and discuss how the principles of both macroeconomics and microeconomics are pertinent to many aspects of our daily lives in ways that a mass majority of individuals has never stopped to think about. The discussion herein is based on a simulation involving rental apartments in Atlantis that are all owned by the same company known as Goodlife. It is important to anyone individual or company in their growth to know when to know what a good price is, when to spend money, when to save money, and what to do in between, and to do so you must understand the concept of supply and demand and how to utilize the information. Most people understand the basic aspects of this; however, to be effective one must know the importance of how both macro and microeconomics are to our ways of living. Further at it relates to the simulation, discussions in this paper will consist of identifying both a supply and demand curve and explain what happens when a shift takes place as well as their different areas of impact. Lastly, I will discuss price elasticity and how a persons spending. Macro and Microeconomic Principles Here is a quick review of two important terms and definitions. Pursuant to Colander (2013), “Macroeconomics is the study of the economy as a while” and “Microeconomics is the study of how individual choices are influenced by economic forces”. The simulation...
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