ecn601 full course latest 2018 march

Week 1 discussion

DQ1

Explain why the consideration of opportunity costs may be very relevant to a firm. How can opportunity costs affect a business decision? Use an example to support your answer.

DQ2

Think about a good or service for which you believe there has been a shift in demand or supply. Explain the reasons behind the shift and how that has influenced the equilibrium price.

Week 2 discussion

DQ1

In a perfectly competitive market where there is virtually no product differentiation, what do you think are the priorities or focus of a firm? How could a firm increase profits?

DQ2

Explain a situation you have observed (or read about) in which a firm made a decision considering irrelevant costs or did not consider relevant costs. What was the outcome of the decision, and what could have been done differently?

Week 3 discussion

DQ1

What market structure best describes the environment within which your organization operates? What challenges and opportunities would arise from higher and lower degrees of government intervention?

DQ2

According to Coase's theory of the firm, why do firms exist? How do firms contribute to the efficiency of the market economy in ways that networks of independent contractors do not? How are the boundaries of the firm best established?

Week 4 discussion

DQ1

Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior. Given your understanding of behavioral economics, how would your decision differ today?

DQ2 In which cases would an organization benefit from using direct and indirect price discrimination? Does market structure influence the capacity of the firm to use price discrimination?

Week 5 discussion

DQ1

Read "7 Easy Ways to Use Game Theory to Make Your Life Better," by Duronio. Reflect on your personal life experiences. Discuss a instance in your life in which you used game theory to earn or save money. Did you realize you were implementing game theory in the situation? How did the outcome benefit you at that moment and in the future?

DQ2

Using the Topic Material "Game Theory," discuss your perspective on the use of game theory. How do "Nash equilibrium" and the idea of one "player" impacting another "player" within an organization affect the economic decisions and growth of an organization?

Week 6 discussion

DQ1

Discuss the importance of analyzing competition within an industry to better appeal to potential candidates. How can an organization use incentives to ensure it appeals to the employees it wants to hire?

DQ2

Discuss how wages are determined in labor markets. Explain how a monopsony market structure is affected by a price floor (minimum wage), and what is the effect of the monopsony of the local economy?

Week 7 discussion

DQ1

Identify one environmental factor or risk that affects the decision-making opportunities within your organization. Provide a brief description of the concerns and potential solutions for addressing the concerns or risks. Are there financial requirements that must be considered when processing decisions within a company?

DQ2

How does the financial strength of an organization influence decision making and outcomes?

Week 8 discussion

DQ1 Using the concept of "carry trade," explain how a decrease in U.S. interest rates could affect the EUR/USD exchange rate. Given this change in exchange rate, how would firms and customers be affected?

DQ2 How do economists define a "bubble"? Provide an example of an asset market that you think could be the next bubble and explain why. (Do not use the examples cited in your textbook).

Week 2 assignment

Complete the following problems from Chapters 4 and 5 in Managerial Economics: A Problem Solving Approach. For each question, write 250-500 word explanation clearly showing how you solved the problem.

Chapter 4: Problems 4-2 and 4-6

Chapter 5: Problems 5-4 and 5-5

APA style is not required, but solid academic writing is expected.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are not required to submit this assignment to Turnitin.

Week 4 Case Study: Generic Drug Pricing

Using the New York Times article, "Defiant, Generic Drug Maker Continues to Raise Prices," conduct further research on the pricing strategies of generic drug manufacturers. In 750-1,000 words, analyze the pricing strategies and discuss the following

Discuss the pricing decisions of generic drug manufacturers.

Evaluate the impact competitors and additional economic factors have on the results of the generic drug pricing strategies. What factors contribute to the advantages and disadvantages of various pricing strategies?

Discuss the social and financial implications of generic drug pricing decisions for various groups of stakeholders. What would be the socially optimum pricing strategy for the United States? What would be the socially optimum pricing strategy globally?

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.

Week 5 assignment

Problems: Chapter 15

Complete the following Problems 15-1, 15-3, 15-4, and 15-6 in Chapter 15 in Managerial Economics: A Problem Solving Approach. Ensure that you clearly show how you solved these problems and provide a 250-500 word cumulative summary explaining all problems.

APA style is not required, but solid academic writing is expected.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are not required to submit this assignment to Turnitin.

15-1 To Vote or Not to Vote

Mr. and Mrs. Ward typically vote oppositely in elections and so their votes “cancel each other out.” They each gain two units of utility from a vote for their positions (and lose two units of utility from a vote against their positions). However, the bother of actually voting costs each one unit of utility. Diagram a game in which they choose whether to vote or not to vote.

15-3 Shirk or Work

Microsoft and a smaller rival often have to select from one of two competing technologies. The rival always prefers to select the same technology as Microsoft (because compatibility is important), while Microsoft always wants to select a different technology from its rival. Describe the equilibrium of this game

15-4: Salary Negotiation

Line Callout 2: EmployerThe following represents the potential outcomes of your first salary negotiation after graduation: Assuming this is a sequential move game with the employer moving first, indicate the most likely outcome. Does the ability to move first give the employer an advantage? If so, how? As the employee, is there anything you could do to realize a higher payoff?

15-6: Entry Game with Withdrawal

In the text, we considered a sequential move game in which an entrant was considering entering an industry in competition with an incumbent firm. Consider now that the entrant, if fought, has the possibility of withdrawing from the industry (at a loss of 1 for the entrant and a gain of 8 for the incumbent), or staying (at a loss of 5 for each player). What is the equilibrium of this game? Discuss if the entrant is better off with or without the ability to withdraw.

Week 6 CLC - Incentive Plan

This is a Collaborative Learning Community (CLC) assignment.

Within your CLC team, discuss your current organization's employee incentives and motivation strategies. Examine the individual organization's compensation challenges and industry competition. Based on this discussion, teams will develop an incentive plan suitable for all participating members that encourages an organizational culture that motivates employees and evaluates their performance. Your incentive plan (1,000-1,250 words) must include:

An overview of the organization for which your team is developing an incentive plan.

A performance metric to monitor employee performance.

Motivation strategies and techniques to appeal to employees.

Incentive compensation to remain competitive within the industry.

Moral hazard affecting employees and the organization.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.

Week 7 assignment

Problems: Chapter 17

For this assignment, you are required to complete Individual Problems 17-2 and 17-6 at the end of Chapter 17 in Managerial Economics: A Problem Solving Approach. In addition, you are required to complete Group Problem G17-1: Uncertainty. As you are evaluating your current company, address the following decisions in your response (500-750 words):

What environmental factors and risks must be considered in the company's decision-making process?

Evaluate cost factors influencing the company's decision.

Determine strategies that would provide value to the outcome your company is seeking relating to this decision.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.

Week 8 assignment

Problems: Chapter 11

Review Group Problems G11-1: Exchange Rate Effect on Industry and G11-2: Exchange Rate Effects on Your Firm, located at the end of Chapter 11 in Managerial Economics: A Problem Solving Approach. Select one problem that relates to you and your current position in the work environment. Complete your response in 750-1,000 words. Support your response with personal experiences or examples.

Alternate Scenario: If you are in an industry that does not deal with any foreign exchange transactions, use the petroleum industry for this assignment. Imagine that you work for a domestic oil refinery, and answer either question G11-1 or G11-2. You do not work for an oil producer, but rather for a refinery, which turns crude oil into many different petroleum products, from jet fuel to gasoline, which are then sold to world markets. You have the option of purchasing crude oil from U.S. sources or from various foreign countries. You must purchase crude oil in order to make products that you can sell in the United States or in other countries.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.