Topics Ten principles of Economics: Costs, Tradeoffs, Marginal Thinking, and Incentives.

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Topics
Ten principles of Economics: Costs, Tradeoffs, Marginal Thinking, and Incentives.

Supply and Demand, Equilibrium, How Supply and Demand Determine the Price and Number of Transactions in the Market, and How Changes Affect the Equilibrium.

For this paper I want you to select a firm in which you have knowledge and interest.  Perhaps it is because you are an avid customer, or that you work for that firm, or for some other reason.  As noted in the first week’s paper assignment, I ask that you select a not-so-obvious firm–please do not pick Apple, Nike, Facebook, or other such large and ‘obvious’ firms.  One other thing I would mention is that it would be good to pick a firm that has some sort of international connection, which could be as simple as having a foreign competitor or foreign supplier.In the papers, you will apply the concepts that you learned about to that firm–so as it says in the description/instructions in each assignment, it is the connections and applications of the material to the firm for which I am looking.  They should not be research papers (in fact, I am mulling saying that no outside sources are allowed, but at this point, I would say none are required–if you need to make some assumption, just state the assumption and go with it).  Rather, they should show how a firm would use the concepts from the chapter to make better business decisions, or how the business environment would be affected by something changing that we’ve studied in the chapter..

Also, I would ask that when you make your posts that you make the subject line reflect the content.

For the papers, as I mentioned, please pick a firm that you have a lot of knowledge about without needing to do additional research.  –they are APPLICATION papers and NOT RESEARCH papers.  I want you to apply the content from the course/chapter to the particular questions asked and firms chosen.  I would even say it’s fine to make assumptions if you need, even if your assumption turns out to not be true.  Again, it is the application of the concepts that I am examining. Also, for the firm selection, there are a few things I would recommend and ask.  First, please note the firms I said not to pick–it’s not an exhaustive list but please keep the general concept in mind; try to avoid the huge, ‘common’ firms.  Don’t worry though, if you pick one that I might put in that list, I’d just ask you to pick a different one for the second paper and on.  But I haven’t really had to do that for people who keep the ideas in mind (another way of saying it would be pick a firm that you could see being ‘unique’ in the class–something nobody else has chosen.  Obviously without these guidelines and above, Apple would be something likely chosen by several students, for example).Some suggestions: don’t worry about the ‘international’ connection mentioned in the first e-mail/announcement. That’s more for the Macro class.  Also, I would strongly suggest picking a firm that makes its own product or provides its own service.  Picking a retailer (Kroger, Walmart, Dick’s Sporting Goods) often provides difficulties.  Kroger’s product, for instance, is NOT what you purchase at Kroger (well, excepting store brands..).  Also, I would strongly suggest picking a firm you know a lot about already, from your general interests (or perhaps working for the firm).

The grading rubric will be attached.

 

  • minimum of 200 words per post
  • Use APA format for in-text citations and list of references.

7 hours max

 

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