Download ECO 561 Week 1 DQ 2

ECO 561 Course Tutorial
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ECO 561 Course Tutorial
ECO 561 Entire Course

ECO 561 Week 1 Individual Assignment
Market Equilibrating Process Paper
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ECO 561 Week 1 DQ 1
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ECO 561 Week 1 DQ 2
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ECO 561 Week 1 Knowledge Check
(Quiz)
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ECO 561 Week 2 Individual Assignment
Market Equilibration Process Paper
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ECO 561 Week 2 Learning Team
Reflection
ECO 561 Final Exam Guide
 ECO 561 Final Exam Guide
ECO 561 Course Tutorial
ECO 561 Week 1 DQ 1
 What kinds of changes
in underlying conditions
can cause the supply and
demand curves to shift?
Give examples and
explain the direction in
which the curves shift.
ECO 561 Week 1 DQ 2
 What is price elasticity?
Give examples of five
products whose demand is
price elastic, and five
products whose demand is
price inelastic and elaborate
on the choices you make.
ECO 561 Course Tutorial
ECO 561 Week 1 Individual Assignment
Market Equilibrating Process Paper
 Market Equilibrating Process
Paper

Write a 700- to 1,050-word
paper in which you relate the
concepts in this week's readings
to a prior real world experience.
The experience does not
necessarily have to be work
experience. One note; these
word count figures are meant to
be a guideline, but feel free to
exceed this if you find it is
necessary to adequately provide
relevant details and clarify
important points.
ECO 561 Week 1 Knowledge Check
 1.
Revenue increases
when
 2.
An increase in the
price of an inelastic good
 3.
Price elasticity of
demand increases when
 4.
The purpose of a
market in a market system is
to
ECO 561 Course Tutorial
ECO 561 Week 2 DQ 1
 Cost is a big issue with
every company, and
changing the technology is
the biggest cost for most
companies, how your
company was able to cope
with this problem and
maintain the level of profit
in a very competitive
market?
ECO 561 Week 2 DQ 2
 Among the types of costs
faced by a firm (short-run
costs, fixed and variable, as
well as long-run costs), how
can technology help firms to
lower their costs? What are
some specific examples of
how firms have used
technology to lower costs?
ECO 561 Course Tutorial
ECO 561 Week 2 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.
ECO 561 Week 2 Knowledge Check

1.
Purely competitve firms
increase total revenue by
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2. What are two ways for a
competitve firm to determine the
optimal level of production, that is,
the level of production that will
maximize profit or minimize
losses?
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
3.
Suppose that a firm
determines that its marginal
revenue is greater than its marginal
cost, it would be better to
ECO 561 Course Tutorial
ECO 561 Week 2 Learning
Team Reflection
 ECO 561 Week 2 Learning
Team Deliverable

 The learning objectives of
week 2 were to identify
production level to maximize
profits, explain how to
balance fixed and variable
costs, and to apply economic
cost concepts in making
business decisions.
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ECO 561 Week 2 Team Assignment Learning
Team Project Product Pricing Component
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Learning Team Assignment: Learning Team
Project Product Pricing Component


Select an organization with which you are
familiar or in which you are interested that
provides a private good or service. You will
want to focus on the same firm or
organization as you work on each Learning
Team Project assignment in this class as you
build the final paper due Week 6.Examples
of good firms to use as a subject include
Southwest Airlines (a very successful
airline), Ford (they have not declared
bankruptcy), Pulte (a successful
homebuilder with a historical track record),
Whirlpool (their performance is very
dependent on the economy), Caterpillar,
Microsoft, Apple Computer, etc.
ECO 561 Course Tutorial
ECO 561 Week 3 DQ 1
 Do you think that
competition can be
counted on to discipline
the industrial business
firms of a modern
economy? Explain.
ECO 561 Week 3 DQ 2
 In your industry, would you
support regulation or
deregulation and why or
why not?
ECO 561 Course Tutorial
ECO 561 Week 3 Knowledge
Check
 1.
A purely- or perfectlycompetitive firm would be
characterized by which of the
following?
 2.
For a purelycompetitive firm, price must
be
 3.
What will excessive or
economic profits induce for a
firm in any industry
structure?
 4.
A pure-monopoly firm’s
demand curve is also the
market demand curve. This
kind of firm may successfully
engage in price
ECO 561 Week 3 Learning Team
Reflection
 The learning objectives of
week 3 were to determine
pricing strategy to meet
organizational goals,
determine ways to create non
price barriers to entry based
on market structure,
determine ways to increase
product differentiation based
on market structure, and to
determine ways to reduce
costs for an organization.

ECO 561 Course Tutorial
ECO 561 Week 3 Team
Assignment Market
Structures Simulation
ECO 561 Week 4 DQ 1
 Write a 1,050- to 1,400- word paper

where you explain the following in
the context of the simulation. One
note; these word count figures are
meant to be a guideline, but feel free
to exceed this if you find it is
necessary to adequately provide
relevant details and clarify
important points.
How does the Federal Reserve's
monetary policy affect your industry's, or
company's growth?
ECO 561 Course Tutorial
ECO 561 Week 4 DQ 2
ECO 561 Week 4 Knowledge
Check
 How would you evaluate monetary

policy today? Is monetary policy
contradictory with fiscal policy?
Why or Why not? Support your
analysis with examples.


1.
Business cycles occur when output
2. Which of these statements best
describes a complete individual buisness
cycle?


3.
During the buisness cycle, the
period between the point at which
output reaches a high and the point at
which it reaches a low is called
ECO 561 Course Tutorial
ECO 561 Week 4 Learning Team
Project Macroeconomic Forecast
Outline
ECO 561 Week 5 DQ 1
 1. Learning Team Assignment:

Learning Team Project
Macroeconomic Forecast Outline:
Prepare a brief outline of the Week 5
Learning Team Project
Macroeconomic Forecast Component
in which you answer the following
questions:
 1. What are the economic indicators
for which you will be providing
forecasts?
 2. It is important to evaluate the
historical relationship between
variables in order to explain how one
indicator or variable may impact
another. With this in mind, what
sources will you use to obtain
historical data for the economic
indicators that you have selected?
How does the Federal Reserve's
monetary policy affect your industry's, or
company's growth
ECO 561 Course Tutorial
ECO 561 Week 5 DQ 2
ECO 561 Week 5 Knowledge
Check
 How would you evaluate monetary

policy today? Is monetary policy
contradictory with fiscal policy?
Why or Why not? Support your
analysis with examples.
1. The Classical Theory of Asset Prices
assumes which of the following ideas?


2.
Economists use two principle
interest rates: normal and real. The
purpose of this distinction is to
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3.
During periods of incresing
inflationary pressure, the Federal
Reserve should
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4. What is the increased morak
hazard associated wuth the too big to fall
(TBTF) ballouts of the largest of
financial institutions?
ECO 561 Course Tutorial
ECO 561 Week 5 Learning Team
Project Macroeconomic Forecast
Component
ECO 561 Week 6 DQ 1
 Learning Team Assignment:

Learning Team Project
Macroeconomic Forecast
Component

Include the following in this paper;

Identify a list of five economic
indicators which will be the subject
of this paper. In addition to real
GDP, the unemployment rate, and
the inflation rate, focus on at least
two of the following :

A key interest rate (I suggest the 10year Treasury rate)
How much has the growth in
international trade impacted your
company, or industry? Has the
devaluation of the U.S. dollar impacted
your company, or industry? Explain
ECO 561 Course Tutorial
ECO 561 Week 6
Knowledge Check
 1.
If the demand is QD =
100 – 10P and there is a $1
price increase, then the
elasticity of demand at p =
2 is
 2.
If the absolute value
of a demand elasticity is
less than 1, then
 3.
If the cross-price
elasticity is negative, then
the two goods are

ECO 561 Week 6 Team
Assignment
 Learning Team Assignment:
 Complete the Learning Team
Project that contains the
following elements;
 Present the viability of the
selected good or service,
considering the demand cost,
market conditions, and
economic conditions.
 Product Pricing Component
(Completed in Week Two)
ECO 561 Course Tutorial
For more course tutorials visit
www.uophelp.com