Week 1
Discussion 1
Select a macroeconomic event and explain why you believe that this event does influence management decisions and why it cannot be controlled by management.
Discussion 2
Select a specific industry and then identify and discuss a significant trend in supply or demand that directly influences management’s pricing decisions.
Assignment 1
Answer the following questions in your text and submit the answers and any supporting spreadsheets to the Week One Dropbox.
• Application Question 2, page 14
• Application Question 5, pages 44-45
Week 2
Discussion 1
• Select a product that is marketed in the U.S. that has shown significant movements in consumer demand elasticity. Identify the reasons for the movements and explain how the elasticity has affected management’s ability to control pricing.
Discussion 2
For the second part of this week’s discussion complete the following task by Friday and then respond to at least two of your classmates’ posting by Sunday:
• Select one of the five non-statistical methods, briefly define the method, explain the value in analyzing consumer behavior and demand, and then provide an actual example.
Assignment
Application Question 6, page 85
Application Question 3, page 112
Week 3
Discussion 1
Provide an example (preferably from an actual business operation) that demonstrates the differences in economic profit and accounting profit. You should include opportunity costs (explicit and implicit) in the comparison. Using your actual profit calculations explain why there is a difference in the bottom-line measured profits and why it is important to look at both.
Discussion 2
Identify and discuss the primary factors that are necessary to achieve economies of scale.
Assignment
Application Question 3, page 141
Application Question 1, page 168
Week 4
Discussion 1
Select one of the major market structures outlined on page 173 of the text, and then identify two existing companies that you believe represent this structure and explain why.
Discussion 2
Using the Herfindahl-Hirschman Index on pages 215-216 of the text identify the market power of at least two companies.
Assignment
Answer the following questions in your text and submit the answers and any supporting spreadsheets to the Week Four Dropbox.
• Application Question 3, page 194
• Application Question 4, page 229
Week 5
Preliminary Proposal
1. Submit your Preliminary Proposal and Outline no later than 11:59 pm Sunday of Week 5. Please attach it to your post rather than copying and pasting a lengthy file. This is a preliminary proposal . . do the best you can drawing upon our study to this point, and ask for feedback (it's useful!).
2. Review and reply to fellow student's proposals.
Discussion 1
Visit the Prisoner's Dilemma site and play Prisoner’s Dilemma at least twice, changing your strategy between attempts. Then, post your responses and explain how you think this strategy game helps managers make pricing decisions.
Discussion 2
Identify an industry or a company that practices price discrimination, then described the pricing strategy and finish by stating why you consider this an effective pricing strategy for the company or the industry.
Assignment
Instructions
Answer the following questions in your text and submit the answers and any supporting spreadsheets to the Week Five Dropbox.
• Application Question 2, page 255
• Application Question 3 , page 287
Week 6
Discussion 1
Review the most current GDP measurement for the U.S. and one other country. Identify any differences between the two measurements and explain why the differences exist, i.e., the components of the measurements are different.
Discussion 2
How has the tightening of consumer credited effected individual spending and in turn the U.S. economy? Has this strategy by the financial institutions helped our economic recovery?
Assignment
Answer the following questions in your text and submit the answers and any supporting spreadsheets to the Week Six Dropbox.
• Application Question 2, page 319
• Application Question 1, page 359
Week 7
Discussion 1
Does a change in the fed funds rate really have an actual direct monetary influence on the markets or is it nothing more than a perception? Explain
Discussion 2
Explain how changes in monetary policies can affect one or both of these measurements (AD and AS).
Assignment
• Application Question 5, page 385
• Application Question 5, page 415
Week 8
Discussion 1
In recent news there was a discussion about the possibility that some European Union members were considering a strategy of intentionally devaluing their currency against the dollar in order to increase exports. Explain how it is possible for a country to intentionally devalue its’ currency and then define the benefits and consequences of this strategy.
Assignment
Answer the following questions in your text and submit the answers and any supporting spreadsheets to the Dropbox.
• Application Question 3, page 451
• Application Question 4, page 470
Course Project
Instructions and Grading Criteria
Overview
The Course Project is a formal report (including an executive summary) that provides an insightful analysis of a company’s market structure and production decisions, i.e., expansion, or other economic principles. The project paper must include a minimum of two economic principles studied during the term of the course, i.e. linear regression analysis and trend analysis. The analysis (purpose, methodology, and conclusion) must be documented with academic support in the form of references and in-text citations utilizing APA style.
This proposal should include, but not necessarily be limited to, the following:
• Identification of the firm involved (text case study, existing firm, or proposed firm)
• Identification of the appropriate market structure in which the firm is or will do business (eg. competitive, monopolistic, etc.)
• Identification of internal strengths and weaknesses (or indication of an intention to study them) given microeconomic expectations and external opportunities and threats given macroeconomic expectations and implications for the firm (or indication of an intention to study this)
• Identification of optimal managerial strategies and tactics given the above, or indication of an intention to do so. These recommended managerial actions should include pricing, production, and resource utilization given the theory and evidence. You should also indicate how each would be expected to add to the value of the selected firm.
The format should:
• Be written using APA style
• Include an executive summary
• Be at least 8 pages of narrative and statistical (spreadsheets) content
You will be graded on three aspects of this project; a Preliminary Proposal and Outline, the Finalized Course Project and your Review and Response of other student's projects.
Deliverables
Preliminary Proposal (10 pts.)
Submit a Preliminary Proposal and Outline before Sunday of Week 5 in the "Student Project Preliminary Proposal" Discussion topic. In the same Discussion topic, submit feedback to other students on their proposals.
Remember that this is a preliminary proposal; do the best you can and ask for feedback on specific issues if you'd like. Feedback you receive from your instructor and fellow students will assist you in refining your proposal.
Finalized Course Project (200 pts.)
Submit your Finalized Course Project to the "Final Course Project and Discussion" Discussion topic before Sunday of Week 7. At the same time, submit it to the "Final Project" Dropbox for instructor grading.
ANSWER WILL BE SENT ON EMAIL.
