ECO 561 Final

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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.

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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
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
Deliver the content in no more than a 700-word paper, OR 7to 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.

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561 Week 2 DQ 1 |
ECO 561 Week 2 DQ 2 | ECO 561 Week 2 DQ 3 |
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.

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Week 3 DQ 1 | ECO 561 Week 3 | DQ 2ECO 561
Week 3 Quiz or Knowledge Check | AJS 504 Week
3 DQ 2

ECO 561 Week 4

ECO 561 Week 4 Complete
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 data, 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 nonpricing strategies? What nonpricing
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
Your proposal is consistent with APA guidelines
Click the Assignment
assignment

Files

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submit

your

Individual Assignment - Week Four Knowledge

Check
Complete the Week Four Knowledge Check.

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Week 4 Business Proposal | 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.
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
assignment.

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your

Individual Assignment - Week Five Knowledge

Check
Complete the Week Five Knowledge Check.

Read More Courses Here .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

ECO 561 Week 6 Complete

DQ1.Is growth sustainable?
growth.

Yes, say proponents of

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.
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)
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assignment.

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Read More Courses Here . ECO 561 Week

6 DQ 1 | ECO 561 Week 6 DQ 2 | ECO 561 Week 6
Final Proposal | ECO 561 Week 6 Quiz or
Knowledge Check | ECO 561 Week 6 Final Exam

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