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ECO 561 Week 1 ECO 561 - Week 1 - Complete DQ1.What is the definition of economics (distinguish between microeconomics and macroeconomics). What is the role of economic theory in economics? DQ2.what is the difference between a command system and a market system? DQ3.There are several determinants of demand or the "other things," besides price, which affect demand. Can you provide a few examples? DQ4.Different products have different elasticity's. Heart medication, for example is inelastic; and corn is elastic. Find a product and describe its price elasticity and income elasticity. How much control might an organization have over pricing based on a product's elasticity? Individual Assignment - Week One Knowledge Check Complete the Week One Knowledge Check. Read more Other coursesECO 561 - Week 1 - DQ 1 | ECO 561 - Week 1 - DQ 2 | ECO 561 - Week 1 - DQ 3 | ECO 561 - Week 1 - DQ 4 | ECO 561 - Week 1 - Quiz or Knowledge Check
ECO 561 - Week 2 ECO 561 - Week 2 – Complete
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DQ1.Distinguish between explicit and implicit costs, and between normal and economic profits. DQ2.Briefly (in a few words) state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit? (a) a supermarket in your hometown; (b) the steel industry; (c) a Kansas wheat farm; (d) the commercial bank in which you or your family has an account; (e) the automobile industry. In each case justify your classification. DQ3.Why do you think the resource demand curve slopes downward? What are some determinants of resource demand? Individual Assignment - Week Two Knowledge Check Complete the Week Two Knowledge Check Individual Assignment - Market Equilibration Process Paper Equilibration is the process of moving between two equilibrium points as a result of some change in supply or demand. Understanding how market equilibrium is sought following such a change is essential for business managers. It is important to understand how economic principles, and specifically supply, demand, and their determents are a part of your everyday business decisions. Write a paper, or create a PowerPoint presentation using a real world experience in a free market (not government regulated) to describe a change that occurred in supply or demand as a result of world events that led to the need for a move between two equilibrium states. Explain the process of how that movement occurred using behaviors of consumers and suppliers. Graph the movement between the two points as well. Required Elements: • Include academic research to support your ideas • Consider the Law of demand and the determinants of demand • Consider the Law of supply and the determinants of supply • Describe Efficient markets theory • Explain Surplus and shortage 2
• Deliver the content in no more than a 700-word paper, OR 7- to 10- slide Microsoft PowerPoint presentation (Please choose one of these choices, not both) • Use University of Phoenix Material: Appendix A to create graphs illustrating the movement between the two equilibrium points and include this in the body of the assignment. • Your assignment is consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. Learning team Assignment - Learning Team Deliverable Complete the Learning Team Deliverable. ECO 561 - Week 2 DQ 1 | ECO 561 - Week 2 - DQ 2 | ECO 561 - Week 2 - DQ 3 | ECO 561 - Week 2 - Learning Team Deliverable | ECO 561 - Week 2 - Market Equilibration Process Paper | ECO 561 - Week 2 - Quiz or Knowledge Check
ECO 561 - Week 3 ECO 561 - Week 3- Complete DQ1.How was De Beers able to control the world price of diamonds over the past several decades even though it produced only 50 percent of the diamonds? What factors ended its monopoly? What is its new strategy for earning economic profit, rather than just normal profit? DQ2.Why is there so much advertising in monopolistic competition and oligopoly? How does such advertising help consumers and promote efficiency? Why might it be excessive at times? Individual Assignment - Week Three Knowledge Check Complete the Week Three Knowledge Check. Learning team - Learning Team Deliverable Complete the Learning Team Deliverable.
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ECO 561 - Week 3 Learning Team Deliverable | ECO 561 - Week 3 - Quiz or Knowledge Check | ECO 561 - Week 3- DQ 1 | ECO 561 - Week 3- DQ 2
ECO 561 - Week 4 Individual Assignment - Business Proposal You will apply economic principles presented in Weeks One through Three in this week's assignment. Your assignment will be reviewed by your peers and by your facilitator in week five and should be revised as necessary based on feedback as the first part of the final assignment in week six. Select a new, realistic good or service for an existing industry. Write the economic analysis section of a business proposal. This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles. You need to create hypothetical ata, based on similar real world products to estimate fixed and variable costs. Required Elements: • Identify market structure • Identify elasticity of the product • Include rationale for the following questions: • How will pricing relate to elasticity of your product? • How will changes in the quantity supplied as a result of your pricing decisions affect marginal cost and marginal revenue? • Besides your pricing decisions, what are your suggested non pricing strategies? What non pricing strategies will you use to increase barriers to entry? • How could changes in your business operations alter the mix of fixed and variable costs in line with your strategy? • No more than 1400 words 4
• Your proposal is consistent with APA guidelines Click the Assignment Files tab to submit your assignment Individual Assignment - Week Four Knowledge Check Complete the Week Four Knowledge Check. Learning Team Assignment - Learning Team Deliverable Complete the Learning Team Deliverable. ECO 561 - Week 4 - Business Proposal | ECO 561 - Week 4 - Complete | ECO 561 - Week 4 - Learning Team Deliverable | ECO 561 - Week 4 - Quiz or Knowledge Check
ECO 561 - Week 5 ECO 561 - Week 5 - Complete DQ1.Briefly describe the multiplier effect. The multiplier effect is based on two facts - what are they? DQ2.What backs the money supply in the United States? DQ3.After you have a chance to read the chapter, I look forward to hearing from you on what interested you the most? DQ4.How do mortgage backed securities work? Why did banks think that selling mortgage backed securities would relieve them of the risks involved with mortgage lending? How did the banks indirectly come to once again be exposed to mortgage lending risk? What happened to bank reserves during the mortgage debt crisis? How did the Fed respond? Learning Team Assignment - Peer Review Resource: Business Proposal Feedback Checklist. Choose two business proposals from members of your Learning Team. 5
Provide feedback to your peers on the proposals using the Business Proposal Feedback Checklist. Include detailed, substantive comments. Submit the completed checklists with comments to the corresponding students. Submit a copy of the completed checklists with comments to your facilitator. Your comments are evaluated based on how well they correspond with the economic principles presented in Weeks One through Three. Click the Assignment Files tab to submit your assignment. Individual Assignment - Week Five Knowledge Check Complete the Week Five Knowledge Check. ECO 561 - Week 5 - DQ 1 | ECO 561 - Week 5 - DQ 2 | ECO 561 - Week 5 DQ 3 | ECO 561 - Week 5 - DQ 4 | ECO 561 - Week 5 - Peer Review | ECO 561 - Week 5 - Quiz or Knowledge Check
ECO 561 - Week 6
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ECO 561 - Week 6 ECO 561 - Week 6- Complete DQ1.Is growth sustainable? Yes, say proponents of growth. DQ2.What are the four supply factors of economic growth? What is the demand factor? What is the efficiency factor? Individual Assignment - Week Six Knowledge Check Complete the Week Six Knowledge Check. Individual Assignment - Final Proposal Resource: Business Proposal and Peer Review feedback. Revise your Week Four business proposal using the feedback provided by your peers and facilitator as necessary. In addition to your week four paper, the second part of your paper will use the revised information to recommend appropriate pricing and non pricing strategies for your new or existing good or service based on the projected economy's stage in the business cycle and the prevailing projected economic conditions for one or more macroeconomic factors. Explain the evidence that supports these recommendations. Required Elements: • Describe the current global economic conditions and their effect on local macroeconomic indicators for your good or service. • Describe the local economy's stage in the business cycle. 7
ECO 561 - Week 6 • Describe how current credit market conditions affect your planning or operating decision for your good or service. • No more than 2100 words (in addition to the 1400 word paper completed in week four, an additional three pages at most is needed) Click the Assignment Files tab to submit your assignment. Learning Team Assignment - Learning Team Deliverable Complete the Learning Team Deliverable. ECO 561 - Week 6 - Final Proposal | ECO 561 - Week 6 - Learning Team Deliverable | ECO 561 - Week 6 - Quiz or Knowledge Check | ECO 561 - Week 6DQ 1 | ECO 561 - Week 6- DQ 2 Know more information Just Click Now : ECO 561 Final Exam BUS 475 Capstone Final Examination Part 1 BUS 475 Capstone Final Examination Part 2 ECO 365 Final Exam ECO 372 Final Exam LAW 421 Final Exam LDR 300 Final Exam QNT 561 Final Exam
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