econ545 full course latest 2015 [ all
discusion except week 2 ,project paper 1 and 2 and final exam but no quiz]
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week
1
Supply
and Demand (graded)
|
- Read the Making
the Connection short case titled Forecasting the Demand for iPhones in
Chapter 3 of our textbook, and also be sure to watch the video right under
the Making the Connection title (maybe a few times). Then post your first
posting this week beginning to discuss what you’ve read and watched in the
video.
- Then work on
Problems and Applications 1.17, at the end of Chapter 3, answering and
discussing the questions in that exercise.
Elasticity
ad the Minimum Wage (graded)
|
- Read the Making
the Connection short case titled Why Are Oil Prices So Unstable in Chapter 6 of our textbook, and
also be sure to watch the video right under the Making the Connection
title (maybe a few times). Then post your first posting this week
beginning to discuss what you’ve read and watched in the video.
- Then work on Problems and Applications 6.3, at the end of Chapter 6,
answering and discussing the questions in that exercise. You don’t have to
post a graph, but please at least create one on paper and discuss the
results.
Oligopoly
and Game Theory (graded)
|
- Read the Making
the Connection short case titled With Price Collusion, More is Not Merrier in Chapter 14 of our textbook,
and also be sure to watch the video right under the Making the Connection
title (maybe a few times). Then post your first posting this week
beginning to discuss what you’ve read and watched in the video.
- Then work on Problems and Applications 2.15, at the end of chapter 14,
answering and discussing the questions in that exercise.
Antitrust
and Market Power (graded)
|
- Review and
chose a firm of your choice or one provided by your instructor. Is this
firm a monopoly? In what ways could it be considered a monopoly? What
markets are involved? What antitrust legislation would apply? Is antitrust
legislation fair to your chosen firm? Why or why not?
|
week4
|
Unemployment
and Inflation (graded)
|
- Read the
“Making the Connection” short case titled “What’s So Bad about Falling Prices?” in Chapter 20 of our textbook,
and also be sure to watch the video right under the Making the Connection
title (maybe a few times). Then post your first posting this week
beginning to discuss what you’ve read and watched in the video.
- Then work on Problems and Applications 7.9, at the end of Chapter 20,
answering and discussing the questions in that exercise.
Business
Cycles (graded)
|
- Read the Making
the Connection short case titled Can a Recession Be a Good Time for a
Business to Expand? in
Chapter 21 of our textbook, and also be sure to watch the video right
under the Making the Connection title (maybe a few times). Then post your
posting this week beginning to discuss what you’ve read and watched in the
video.
- Then work on Problems and Applications 3.6, at the end of Chapter 21,
answering and discussing the questions in that exercise.
|
week4
|
Unemployment
and Inflation (graded)
|
- Read the
“Making the Connection” short case titled “What’s So Bad about Falling Prices?” in Chapter 20 of our textbook,
and also be sure to watch the video right under the Making the Connection
title (maybe a few times). Then post your first posting this week
beginning to discuss what you’ve read and watched in the video.
- Then work on Problems and Applications 7.9, at the end of Chapter 20,
answering and discussing the questions in that exercise.
Business
Cycles (graded)
|
- Read the Making
the Connection short case titled Can a Recession Be a Good Time for a
Business to Expand? in
Chapter 21 of our textbook, and also be sure to watch the video right
under the Making the Connection title (maybe a few times). Then post your
posting this week beginning to discuss what you’ve read and watched in the
video.
- Then work on Problems and Applications 3.6, at the end of Chapter 21,
answering and discussing the questions in that exercise.
Fiscal
Policy (graded)
|
- Read the Making
the Connection short case titled Did Fiscal Policy Fail during the Great
Depression? in
Chapter 27 of our textbook, and also be sure to watch the video right
under the Making the Connection title (maybe a few times). Then post your
first posting this week beginning to discuss what you’ve read and watched
in the video.
- Then work on Problems and Applications 6.6, at the end of Chapter 27,
answering and discussing the questions in that exercise.
Monetary
Policy (graded)
|
- Read the Making
the Connection short case titled Trying to Hit a Moving Target: Making
Policy with Real-Time Data in Chapter 26 of our textbook,
and also be sure to watch the video right under the Making the Connection
title (maybe a few times). Then post your first posting this week
beginning to discuss what you’ve read and watched in the video.
- Then work on Problems and Applications 3.12, at the end of Chapter 26, a
week 6
Federal
Reserve Policy (graded)
|
- Read the Making
the Connection short case titled The Debate over Quantitative Easing? in Chapter 28 of our textbook,
and also be sure to watch the video right under the Making the Connection
title (maybe a few times). ?Then post your first posting this week
beginning to discuss what you’ve read and watched in the video.
- Then work on Problems and Applications 4.10, at the end of Chapter 28,
answering and discussing the questions in that exercise.
Macro
in an Open Economy (graded)
|
- Read the Making
the Connection short case titled Japanese Firms Ride the Yen Roller Coaster in Chapter 29 of our textbook,
and also be sure to watch the video right under the Making the Connection
title (maybe a few times). ?Then post your first posting this week
beginning to discuss what you’ve read and watched in the video.
- Then work on Problems and Applications 2.15, at the end of Chapter 29,
answering and discussing the questions in that exercise.
week 7
Comparative
Advantage (graded)
|
- Read the Making
the Connection short case titled Comparative Advantage, Opportunity Cost,
and Housework in
Chapter 2 of our textbook, and also be sure to watch the video right under
the Making the Connection title (maybe a few times). Then post your first
posting this week beginning to discuss what you’ve read and watched in the
video.
- Then work on Problems and Applications 2.15, at the end of Chapter 2,
answering and discussing the questions in that exercise.
Fixed
and Floating Exchange Rates (graded)
|
- Read the Making
the Connection short case titled Why Did Iceland Recover So Quickly from
the Financial Crisis? in
Chapter 30 of our textbook, and also be sure to watch the video right
under the Making the Connection title (maybe a few times). Then post your
posting this week beginning to discuss what you’ve read and watched in the
video.
- Then work on Problems and Applications 2.23, at the end of Chapter 30,
answering and discussing the questions in that exercise.
The Microeconomic Paper tests your ability to apply economic principles to a business decision. Select one situation from the items outlined below: A to D. Complete the paper on the selected situation as specified below. The completed paper is a professional report and is due in Week 3 (150 points). See the grading rubric at the end of this document. Be sure to use the DeVry library for finding data; avoid questionable sources, such as Wikipedia.
The following is a list of the specific required information, research, graphs, and math to be included in each answer regardless of the scenario chosen.
1. Demand Determinants:
a. Each individual determinant analyzed for your situation, with examples applicable to your situation (3 points each) and research (2 points each) showing current demand data or most recent past data, except for the expectations determinant in which you need to use data estimating future market conditions.
b. (10 points) Price Elasticity of Demand facing you in your scenario, including actual calculation of it using the midpoint formula. If you can’t find data, then determine the price elasticity from the characteristics and make up numbers to use. Be sure to identify this if you use this approach. This will help you in deciding the slope of your demand curve below.
c. (10 points) Graph the demand facing your situation. Note that this requires information from the supply determinant analysis before deciding how to draw the curve(s), as you may need a separate MR curve.
2. Supply Determinants:
a. Each individual determinant analyzed for your situation, with examples applicable to your situation (3 points each) and research (2 points each) showing current supply data or most recent past data, except for the expectations determinant in which you need to use data estimating future market conditions.
i. (20 points) You need to be very specific in the cost of production determinant to identify fixed, variable, and marginal cost in order to derive your supply curve for the graphing component. You will need to explain and show how profit maximization or loss minimization output and price are determined. You will need to do the math using actual figures [cited] or your own estimated figures [identified as such] and explain why you expect short run economic or normal profits, acceptable loss or temporary shutdown, and how you will know which it is.
ii. The number of sellers determinant must contain your analysis of the kind of market structure in which your firm or labor service will be sold.
b. (10 points) Price Elasticity of Supply you have based on the cost of production changes as output changes, including actual calculation of it using the midpoint formula. If you can’t find data, then determine the price elasticity from the characteristics and make up numbers to use. Be sure to identify this if you use this approach. This will help you in deciding the slope of your supply curve.
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