Eco 365 week syllabus Essay

Details Due Points Objectives 1.1 Differentiate between macroeconomics and microeconomics. 1.2 Analyze the effect of changes in supply and demand on the equilibrium price and quantity. 1.3 Determine how elasticities affect pricing and purchasing decisions. Reading Read Ch. 1, 4, 5, 6, 7 of Economics. Reading Read this week’s Electronic Reserve Readings. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday Sept 13 2 Nongraded Activities and Preparation Article Analysis Research the University Library and Internet, and select a recent news article concerning trends in consumption patterns of a specific product, such as gasoline, oil, grain, or coffee. The following article which is located in the Electronic Reserve Readings on the student website is an example of trends in consumption patterns: Note. Do not use this article for your assignment. Hauser, C. (2011, August 24). Sales of new homes fell again in July. The New York Times. p. 6. Retrieved from EBSCOhost. Write a 700 – 1,050-word paper in which you do the following: Analyze the basis for the trends in consumption patterns, as discussed in the article you selected. Consider the utility derived from a product or service mentioned in the article. Describe what has occurred to change the demand for the product or service and its market and equilibrium prices. Assume that supply remains the same. Describe what has occurred to change the supply of the product or service and its market and equilibrium prices. Assume that demand remains the same. In your opinion, is demand for this product or service price elastic or inelastic? What does this imply about how consumers respond to changes in the price of this product or service? Support your determination of the price elasticity of demand with a reference. Format your paper consistent with APA guidelines. This is not mandatory and is not turned in or graded. Week Two: Production and Cost Analysis Details Due Points Objectives 1 2 2.1 Describe the relationship between the number of inputs and the law of diminishing marginal productivity. 2.2 Analyze the relationship between productivity and the cost of production. 2.3 Analyze the effect of changes in the supply of and demand for factors of production on the price of inputs. 2.4 Analyze the effect of changes in marginal revenues and costs on a firm’s profit-making potential. Reading Read Ch. 12, 13, 19, 19w and 20 of Economics. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday Sept 20 2 Individual Supply and Demand Simulation Complete the Supply and Demand Simulation located on the student website. Write 750 – 1,050-word paper of no more than summarizing the content. Address the following: Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic. Identify at least one shift of the supply curve and one shift of the demand curve in the simulation. What causes the shifts? For each shift, analyze how it would affect the equilibrium price, quantity, and decision making. How may you apply what you learned about supply and demand from the simulation 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 the 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? Relating to the simulation, explain how the price elasticity of demand affects a consumer’s purchasing and the firm’s pricing strategy. Format your paper consistent with APA guidelines. Monday Sept 23 15 Learning Team Reflection Production and Cost Analysis Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday Sept 23 2 Week Three: Market Structure Details Due Points Objectives 2 3 3 3.1 Compare various market structures and their characteristics. 3.2 Evaluate the effectiveness of competitive strategies within market structures. 3.3 Determine profit-maximizing strategies based on market structure analysis. Reading Read Ch. 3, 14, 15 and 16 of Economics. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday Sept 27 2 Learning Team Current Market Conditions Competitive Analysis Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked your team to do a competitive market analysis to determine the product’s potential success. The analysis will focus on your primary competitor in the product’s market. Select a potential competitive organization and a product in that organization. Write a 1,400 – 1,750-word paper of no more than analyzing the current market conditions. Address the following topics: A short history of the organization and a description of their product Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers. Any issues or opportunities your organization or industry faces that affect its competitiveness and long-term profitability with regards to your product: This may include, but is not limited, to the following elements. Price elasticity of demand Technological innovation The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity Cost structure Factors affecting variable costs, including productivity and others that change the supply of and demand for labor Factors affecting fixed costs Make recommendations on how your organization can maximize their profit-making potential, and successfully compete in the new market. Consider the effect your recommendations may have on marginal revenues and costs. Format your paper consistent with APA guidelines. Monday Sept 30 12 Learning Team Reflection Market Structure Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday Sept 30 2 Week Four: Public Policy in Economics Details Due Points Objectives 4 4 4.1 Analyze the effect of externalities on market outcomes. 4.2 Differentiate among horizontal, vertical, and conglomerate mergers. 4.3 Analyze the effect of government interventions, taxation, and regulations on economic behavior. Reading Read Ch. 8, 18, 21 and 21w of Economics. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday October 4 2 Individual Differentiating Between Market Structures For this assignment, you will choose from the following options: Differentiating Between Market Structures in an Organization of Your Choice Read the instructions in the University of Phoenix Material: Differentiating Between Market Structures located on the student website. You also need to complete the Market structures table for each of the different markets. Monday October 7 15 Learning Team Reflection Public Policy in Economics Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday October 7 2 Week Five: Global Competition Details Due Points Objectives 5 5 5.1 Determine the effect of global competition on an organization’s strategies for maximizing profits. 5.2 Analyze the effect of global competition on the relationship between management and labor. Reading Read Ch. 2 of Economics. Reading Read Ch. 9, 17, 22 and 23 of Economics. Participation Participate in class discussion. Discussion Questions Respond to weekly discussion questions. Individual Final Examination Resource: Economics Click the link to the Final Examination on the student website available from the end of Week Four through the end of Week Five. Complete the Final Examination. You have one attempt to complete the exam, which is timed and must be completed in 3 hours. Results are auto-graded and sent to your instructor. Monday Oct 14 15 Learning Team Competitive Strategies and Government Policies Management has recognized the effect of changes in the real-world competitive environment and government policies on other industries and anticipates similar events occurring in their industry, so they ask you for a report considering the following points. Write 1,400 – 1,750-word paper in which you describe how each of the following are or potentially will affect your industry or one with which you are familiar: New companies entering the market, mergers, and globalization, on pricing and the sustainability of profits: Identify the type of merger activity in your industry or one with which you are familiar–horizontal, vertical, or conglomerate–and explain why you made that choice. Current and expected government policies and regulations, including taxes and regulations in place to address issues related to externalities Global competition on the decisions made by management with regards to change in labor demand, supply, relations, unions, and rules and regulations in your chosen industry Recommend how the industry you chose may respond to each of the previous points. Format your paper consistent with APA guidelines. Monday Oct 14 15 Learning Team Reflection Global Competition Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday Oct 14 2 Copyright University of Phoenix ® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. 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