Category: Economics

Module 2 (1) (1)
Module 2 (1) (1)
File Types doc, xls, jpg, pdf, word, and png
Criteria Ratings Pts
This criterion is linked to a Learning OutcomeDescription of criterion
50 pts
Full Marks
All correct or minor errors.
45 pts
Minor errors
Review the Homework Answers Module for the correct answers.
40 pts
Few Errors
Review the Homework Answers Module for the correct answers.
35 pts
Significant errors
Review the Homework Answers Module for the correct answers.
25 pts
Major errors
Review the Homework Answers Module for the correct answers.
0 pts
No submission
Review the Homework Answers Module for the correct answers.

Economics Research Questions
Option 1: 
Explore how consumer preferences, trends, and purchasing power affect the market for new products. Discuss the strategies companies use to influence consumer behavior and the economic principles behind these strategies.
• Which strategies do you find most effective, and why? Discuss any ethical considerations or potential drawbacks of these strategies.
•  Consider how changes in consumer behavior might affect the success of new products in the future. What trends do you foresee, and how should companies adapt to these changes?  
OR 
Option 2: 
Analyze the effectiveness of various government policies (e.g., taxation, social welfare programs, education funding) in reducing or exacerbating economic inequality. How can governments balance economic growth with equity? Use real-world examples to support your analysis. 
• Which policies do you believe are most effective in reducing economic inequality, and why? Discuss any limitations or unintended consequences of these policies.  
• Consider how government policies have affected your own community or country. Provide a personal example or observation that illustrates the impact of a specific policy on economic inequality.  
OR 
Option 3: 
In a 2-3 page research using MLA answer the prompt below: 
What is a Labor Union? Should Labor Unions be encouraged? Be sure to outline the benefits of Unions to employees. Also, point out why Labor Unions are generally opposed by employers. Finally, what do you think can be done to encourage Labor Unions? 
****Make sure to use a variety of credible sources, including books, academic journals, and reputable websites, to support your research.  MLA format and 2 page minimum research paper.

Be sure that you have carefully read the instructions for participating in the weekly discussion forums, especially as regards what is acceptable as a current news article.
While many people think fringe benefits are something that businesses offer above and beyond the money wage or salary. But Part A of Chapter 5 demonstrates that the correct way to look at fringe benefits is as simply one part of a total compensation package. In theory, firms will offer workers all the fringe benefits that are optimal in the sense that they are mutually beneficial for both the employer and the employee. This analysis implies that if the government mandates fringe benefits that firms and workers have not already agreed to, it will actually make workers worse off rather than better off.
For this Discussion Forum, find a current news article that deals in some way with the topic of fringe benefits: does the private sector provide optimal fringe benefits? Does the government need to make fringe benefits mandatory?
The second Discussion Forum is about fringe benefits.  Note the parallel with product improvements. Firms will invest only in product improvements that will pay for themselves because the improvement is worth more to consumers than the cost of providing it. Similarly, firms will offer fringe benefits (as a component of an overall compensation package) only if they will pay for themselves in the sense that they allow a lower monetary wage that will more than ay for the cost of the fringe benefit. So private firms will offer all fringe benefits that are good for both employees and employers.  And just as in the case of product improvements, if the fringe benefit is mandated by government, there can be no presumption that it will make both parties better off. This forum closes Sunday night with the original post due Saturday night.
Online Discussion Expectations
Discussion is an integral part of the classroom
experience.  Individual participation and
contribution to online discussion sessions is encouraged and expected. 
Here are qualities of a full-credit student post (adapted
from Sloan Consortium http://www.sloan-c.org):
·       
Substantial – cites PowerPoint, textbook, or
video segments
·       
Concise – focused response. 
·       
Provocative – student asks a question to
facilitate discussion
·       
Interpretative – expands concepts or connects
ideas in new ways
·       
Timely – posted within set time limits
·       
Grammatical – free of writing errors
A student should not make all contributions in one or two
days.  In order to receive full-credit
for discussion, you are encouraged to participate in the discussion at various
times throughout the discussion week.
The vast majority of the Discussion Forums are tied to the
chapters in the textbook – one for each of the twelve chapters. These forums
require that the student make a substantial original post (500 words – NOT
counting the hyperlink and reference) and respond to the original posts of at
least two other students (100 words each).
The original posts must include a working link to a current
news article (NOT an article from a professional journal) as well as an
APA style reference for the article.
One of the goals for this class is for students to use
concepts introduced in the course to analyze current issues in managerial
economics, hence the emphasis on current news articles.
·       
Current
means an article that is recent – published within the last six months or so.
·       
News
means an article from a recognized news source such as a daily newspaper or a
weekly or monthly news magazine. 
Online versions of those sources are fine, but BEWARE the
use of online articles from websites that are devoted to a particular point of
view, whether it be progressive or conservative.  Why? Because they usually put too much of a
spin on what is supposed to be a news report. Also do not use articles from
online encyclopedias. While they may provide information on the topic at hand,
but it will be definitions and history as opposed to current news.
HINT: When doing a Google search, below the box where you
enter what you are searching for, select “News.”)
Because these Discussion Forums linked to the individual
chapters are a key part of assessing the student’s mastery of key concepts
presented in the class, full credit requires applying concepts from the
textbook in analyzing the chosen news article – summarizing the article is
unnecessary and inadequate.
Responses to original posts must go beyond nice job” or “I
agree with your post.” For full credit they must advance the analysis in some
way – perhaps by reference to the news article selected by the respondee.
Points will be deducted on original posts if:
·       
They are late
·       
They fail to meet the required word minimum
·       
The article is not current (within the last six
months)
·       
The article is not a news article
·       
The article is short and offers little for
analysis
·       
The post is summary rather than analysis
·       
The post fails to reference material from the
textbook
·       
The post fails to include a working hyperlink
that can be used by others to read the article
·       
The post fails to include an APA reference

The authors identify several (five) situations in which people need nudges.
(a) Describe the situations in which people are least likely to make good decisions (and therefore need a good nudge).
(b) Provide examples of each situation.
Word count: 750 words

All Nudge questions should be answered in essay form, using good grammar, complete sentences, and well-organized paragraphs. Do not use bulleted or numbered lists to answer the questions. Any source material (other than Nudge) must be cited and referenced. All essays are tested for originality using Turnitin. All questions must be answered using your own words. The minimum word count is provided for each question.

One resource provided from the online library attached.
Using data from the Bureau of Economic Analysis (BEA), retrieve data on U.S. exports to Mexico and imports from Mexico over the period 1980-2022. Create a graph to visually represent the export, import, and trade balance. Using this information, write an essay that includes the following information: Analyze the trend in U.S.-Mexico trade during this period, and identify significant fluctuations or changes in U.S.-Mexico trade. Based on your analysis, discuss the possible factors that might have contributed to these trends and their implications for both nations’ economies. Additionally, assess the potential impact of these trade patterns on specific industries and sectors in the United States and Mexico. Discuss the application of comparative advantage and Heckscher-Ohlin theory in the context of U.S.-Mexico trade and explain the pattern of trade between the two countries. Analyze the trade balance between the United States and Mexico over the past decade. Identify key commodities traded between the two nations and assess their economic importance. Examine the role of tariffs and trade policies in shaping U.S.-Mexico trade relations. Your response must be at least three pages in length. Be sure your essay is structured as an essay with an introduction, main body, and conclusion. You are required to use a minimum of three sources; at least one of which must come from the online Library. All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations. Adhere to APA Style when creating citations and references for this assignment.

Oxford University Press, an academic publishing company in England that publishes textbooks and academic monographs, is in contract negotiations with a new author (a professor at a U.S. university) to write the 1st edition of a new textbook in biochemistry. Two of Oxford’s acquisitions editors are debating over how to structure the contract terms. One editor wants to offer the author an “advance”1 of X euros plus a royalty rate of 15% of net revenue.2 The second editor wants to offer the author no advance but a larger royalty rate of 20% of net revenue. Discussion questions: What are the plusses and minuses of both contracts, considering the author’s incentives? If Oxford chooses the first contract, how should it choose the value of X? Assuming that X is correctly chosen, which of the 2 contracts do you think is preferable for Oxford, and why? 300 words

You MUST complete the JUNG Typology by following the link provided. Upon completion of the profile:
1. You MUST define and discuss your profile.
2. You MUST research your profile to determine careers that suit you.
3. You MUST provide some historical figures that are the same profile as you.
4. You MUST discuss if you believe that the profile is accurate.
The assignment must be completed on One (1) Typed Single-Spaced page with a max font of 12 points
and 1-inch margins on all sides. The assignment should be in essay format and contain a minimum of
750 words. There is no MLA or APA requirements since the assignment should be in essay format. The
quality of the written results will be judged by the instructor and will influence your grade. In other
words, your grade will be adversely impacted or lower if the above requirements are not followed.

Write a 750 to 1,000-word report on how a non-income determinant of aggregate demand affects GDP. Recall that GDP includes five components. These components as well as some of their associated non-income determinants of aggregate demand are listed below:
• Consumption — Net Wealth (Assets of Households minus Debts of Households), Price Level, Interest Rate, Consumer Expectations.
• Investment — Interest Rate, Business Expectations.
• Government — Change in Government Spending.
• Exports — Foreign Income Levels, Exchange Rates.
• Imports — Exchange Rates.
The following bullets include some words that are in blue — use these words as first-level headings with appropriate capitalization (do not use the links as headings — the words in blue that are also underlined are links). Your report should:
• Include a brief introduction and a conclusion. See the note, Introductions and Conclusions, for more information on introductions and conclusions. Your introduction should include a concise preview of your report’s topics as well as a short thesis statement.
• Discuss how one of the five components of GDP has been affected by a recent change in an associated non-income determinant of aggregate demand. Be sure you discuss whether the change increased or decreased GDP.
• Support your discussion with real-world examples, such as newspaper or magazine articles, and with statistics from websites, such as http://research.stlouisfed.org/fred2/, which was used in the study group assignment.
• Support your contentions with a real-world example of how your demand (spending) or your workplace’s (or another business’s or industry’s) demand (spending) has been affected by the change in the determinant of aggregate demand.
• Evaluate whether the trend in the non-income determinant of aggregate demand is expected to continue and, if so, for how long it is expected to continue. For example, if interest rates are on a declining trend do you expect this trend to continue or do you expect a change in the trend.
• Explain why business managers should have a thorough understanding of aggregate demand. Include this explanation in your conclusion. Please note: Your conclusion should also review all the major elements of your report.

Project Part 2 – FRED Data and Labor Supply
Download a copy of these instructions
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In this assignment, you will use the St. Louis Federal Reserve Education Database (FRED) to explore the various data sources that measure the state of employment in the United States (namely, the Current Population Survey (commonly called the Household Survey) and the Establishment Survey). You will also be responsible for creating, editing, and interpreting data in a FRED series.
Written material should be typed, 12 pt. font, double spaced with 1 inch margins. Please do not ask me to accept assignments that are not combined, and please do not exceed the space limit of two written pages of text–my grading will stop there. When you are ready to submit your project, please include your paper and the file containing your data.
The purpose of this assignment is to:
Help you apply the analyze the data discussed in the course and write professionally about data series.
Give you some experience using data and manipulating graphs to tell a story.
Use FRED to Find Employment and the Labor Force Data
Employment is an important measure of an economy’s health. Economists and policymakers examine several data sources to assess the state of employment in the United States. The data are available on the Federal Reserve Bank of St. Louis’ FRED database. The following steps give you an opportunity to access the data and make some observations.
The most important FRED data source for employment is the Bureau of Labor Statistics Employment Situation Report. This report is probably the most anticipated of all economic reports—it measures the growth (or loss) of jobs, whether individuals are in the workforce, and household earnings. The report consists of two parts: the Current Population Survey (commonly called the Household Survey) and the Establishment Survey. As you may have guessed, the Household Survey questions households about their participation in the workforce and wages earned. The Establishment Survey (sometimes called the payroll survey) questions private businesses, companies, and government agencies about their changes in staffing. This exercise begins with the Household Survey portion (it is much smaller) and then moves to the Establishment Survey portion of the report.
Looking at the Unemployment Rate:
Start at the FRED website (http://research.stlouisfed.org/fred2Links to an external site.). To begin looking at employment data, click on the categories tab.
Under the Population, Employment & Labor Markets category, choose the Current Population Survey (Household Survey) link. The number in parentheses after each category listed indicates how many series are available in that category.
Here you will see a list of possible data series. Data are sorted initially by popularity. They can also be sorted several other ways—by start or end date, units, seasonal adjustment, and update date. Select Unemployment Rate from the list of categories, and then choose Unemployment Rate, usually the first (the most popular) series. To bring up the series, click on the title.
The graph shows the entire history of the series and allows options to view or download the data. Now, choose Download in the upper right corner of the page to view all of the data in an Excel file.
Look at the data and then answer the following question in your write-up: What is the highest unemployment rate recorded since 1948 and when did it occur?
Looking at the Change in Employment:
Next, go back to the Population, Employment & Labor Markets main category, and choose the Establishment Survey Data.
Within that category, choose the Total Nonfarm category
Within the Total Nonfarm category, choose All Employees: Total Nonfarm Payrolls. This series represents the number of people reported as employed by companies (so, if a person has two jobs, they are counted as two employed persons).
This will be the first graph you will edit for your write-up. To make changes to the graph, select the Edit Graph button in the upper-right corner of the page.
A window should appear that will allow you to Edit Line 1 (All Employees: Total Nonfarm Payrolls). This window will allow you to to make several changes to the display. Two items will be changed: the units and the date range.
The data are in thousands (notice the label on the y-axis). To show the data as a change from the previous month, click on the pull-down next to Units, then choose Change, Thousands of Persons. You can now close the edit window for this graph.
Next, change the data range from the default (entire range) to the last 10 years. Above the graph lists the date range for the data. Click the link for 10Y to show only the last ten years of data. The graph will automatically update as you change variables.
Save this graph by clicking on the Download tab. Include it in your write-up as part of the appendix.
Putting it Together
Go back to the category of Establishment Survey Data. You will now compare the number of jobs from several different areas of the economy (for this portion of the project, use construction and retail). This requires locating one series and then adding others to the graph. To do this, first choose Construction as a category.
Choose the All Employees: Construction, seasonally adjusted, series in the category (again, sorted by popularity).
To add another series for comparison, choose the Edit Graph tab link above the graph. Select Add Line tab to bring up a search bar to add more data to the graph your graph. To add a line showing the number of employees in the retail trade industry, begin typing Employees Retail Trade. FRED will suggest likely data series as you type. Choose All Employees: Retail Trade. Make sure you select the seasonally adjusted data series.
You now have a graph with the number of construction employees in blue and the number of retail trade employees in red. Consider adding other industries to the graph. You may want to add All Employees: Financial Activities or All Employees: Professional and Business Services.
Select at least one more set of employees to add to the graph and then save your new graph to be included in the appendix of your write-up.
Looking at Labor Force Participation Rates
As a final way of studying employment, let’s look at some labor force participation rates. This will be an opportunity to create a single graph with multiple lines from a list. Choose the Current Population Survey (Household Survey).
Then choose the Civilian Labor Force Participation Rate.
Select the labor force participation rates for Men and Women by checking the boxes located next to the entries. Click Add to Graph to create a single graph with both data series already together.
The line for men’s labor force participation is blue, the line for women is red.
In your write-up, discuss some of the historical factors driving the change in labor force participation rates for men and women.
What Do You Want to Look at?
Use the FRED Data site to lookup the relationship between variables of your choosing. You are welcome to select from any of the datasets provided by FRED, so long as they are tangentially related to labor economics (For example, you can look at the number of new housing construction and the total number of employees in the construction industry to look at the derived demand for construction workers.). In addition to the work you’ve done above, create at least two more graphs containing different sets of variables and discuss what you find.
Your Write-up
Write out, in two double-spaced, typewritten pages:
A brief description of what you did and why you did it.
Answer the questions above and discuss the graphs you saved.
Include the graphs at the back of your write up. Everything should be *combined* together into a single file and follow the formatting specified at the top of this assignment. Take care to make your graphs clear and visually pleasing: in business, presentation matters.
Project Discussion Post
For your discussion post, select one of your graphs from the “What Do You Want to Look at?” Section and share with your classmates. Write a 100-word post about why you selected the variables you did and what results you found. Post it to the Course Project forum. Comment on at least 2 other classmates’ posts. You must respond to two classmates thoughtfully and provide added analysis to the discussion
Due Dates
See the course Calendar for due dates
Grading
Your submission will be graded based on criteria found in the rubric.
Project Part 2 – 50 points possible
Grading Criteria and Guidelines
Criteria Guideline 1 Guideline 2 Guideline 3 Guideline 4
Format – 8 points possible Meets all criteria
8 points Meets some criteria
4 points Meets few criteria
2 points Meets none of the criteria
0 points
Organization and style – 8 points possible Meets all criteria at a high level; clear and easy to follow
8 points Meets some criteria; uneven or has some lapses in clarity or development
4 points Meets few criteria; often unclear or undeveloped
2 points No apparent development
0 points
Research – 10 points possible Meets all criteria at a high level; clear and easy to follow
10 points/td> Meets some criteria; uneven or has some lapses in clarity or development
5 points Meets few criteria; often unclear or undeveloped
2.5 points No research conducted
0 points
Spreadsheet, Calculations and Assumptions – 10 points possible Meets all criteria at a high level; clear and easy to follow
10 points Meets some criteria; uneven or has some lapses in clarity or development
5 points Meets few criteria; often unclear or undeveloped
2.5 points No spreadsheet provided
0 points
Interpretation of Results – 10 points possible Meets all criteria at a high level; clear and easy to follow
10 points Meets some criteria; uneven or has some lapses in clarity or development
5 points Meets few criteria; often unclear or undeveloped
2.5 points No interpretation of results
0 points
Responding to Others – 4 points possible Responds to two classmates thoughtfully and provides added analysis to the discussion
4 points Responds to two classmates but doesn’t provide much analysis; or responds to one classmate with thoughtful analysis
2 points Responds to one classmate but doesn’t provide much analysis; or responds to two classmates with no analysis
1 points No responses
0 points

Answer ONE of the following questions that is most interesting to you. Please think outside of the box and try to be creative. Use resources to support your argument. Please also include graphs, tables, and appendix. 
Q1. What is the optimal global population?
Q2. Accurate news reporting is a public good. Does it follow that news agencies should be funded from taxation?
Q3. Do successful business people benefit others when making their money, when spending it, both, or neither?