Assignment Summary:

  1. Watch the video above and under the Week 4 Videos, watch all videos.
  2. Then go to a store, as discussed above, and observe.  Observation is a well-established method of real world research.  It will probably be easier and perhaps more informative if you pick on one product line to observe and observe by brand name. In particular, look for:
    1. product prices,
    2. product packaging (design, colors, logos, etc.); and,
    3. product shelve placement relative to other similar products.
  3. Based on what you observe can you identify:
    1. which products/brand names compete most closely with each other?  Are they placed close to each other on the shelves or far apart?
    2. which products/brand names are aimed at cost conscious consumers?  Where are these on the store shelves for grocery stores?
    3. which are aimed at higher end consumers? Where are these on the store shelves for grocery stores?
    4. which products/brand names have a narrower market and command brand loyalty?  This one could be tricky to figure out.
  4. Share what you find with the class on the discussion board.
    1. What do you think you have learned from this activity? 
    2. What have you learned about monopolistic competition?
  5. Post your views to the discussion board and refer to at least two different concepts from this week’s Chapters. Your illustration of concepts MUST include an explanation why you think they are relevant to the week’s topic using specific information from the articles, videos and other research that you have done.

Using your own words, please submit a summary emphasizing the meaning of each chapter assigned. Your summary cannot contain less than 250 words. Please include a word count.

Assignment Summary:

  1. Watch the video above.
  2. What are the advantages and disadvantages of toll roads for driver?  Why might an individual prefer to pay a toll than to use a free road?
  3. Are there other ways to pay for highways other than tolls or higher motor fuel taxes?  (Oregon is researching an alternative user fee system, you may wish to search for that information.)
  4. Are there environmental aspects to the use of toll roads versus free roads?
  5. Post your views to the discussion board and refer to at least two different concepts from this week’s Chapters. Your illustration of concepts MUST include an explanation why you think they are relevant to the week’s topic using specific information from the articles, videos and other research that you have done.

 

Assignment History

  • Find two news articles from the Internet that illustrate a shift in supply and/or demand. The article(s) need to illustrate at least two of the four graphs. This may require two articles. The article(s) must be recent (within the last six months), and MUST NOT be from an encyclopedia or reference website that discusses demand and supply.
  • DO NOT use blogs.
  • The best articles are about changes in the price and/or sales of a particular product. You then have the opportunity to demonstrate your understanding of supply and demand shifts as you explain the changes in price and quantity experienced by the product you choose.  RECOMMENDATION: READ THE SAMPLE PROJECT: Under the Getting Started link.
  • Summarize the article. (Do not quote the article, but explain it as if you were telling someone about it. If you do use direct quotes or paraphrases, remember that citations and references are required.)  If you use more than one article, then citations are required.
  • Explain which graph in our collection – A, B, C, or D – illustrates the shift that you identify by describing the change in equilibrium quantity.  Remember to illustrate the shifts shown in at least two of the four graphs.
  • Some articles may describe a situation where both curves shift.  This is not common but it is possible.
  • Do use paragraphs in your post. And do remain focused on what is in the article.
  • Provide a full URL link to the article along with an APA-formatted reference to the article at the bottom of your submission.
  • Important: This is a Microeconomic course. Do not choose an article discussing Macroeconomic issues: Inflation, unemployment, trade deficit, government budget deficit, etc.

Using your own words, please submit a summary emphasizing the meaning of each chapter assigned. Your summary cannot contain less than 250 words. Please include a word count.

 

Assignment Summary:

  1. View the two videos above and videos 1, 2 and 7 under the Week Two Videos. You may also wish to view the other videos for a deeper understanding of price controls.
  2. Visit The Faces of <5 for more perspectives on a $15 minimum wage.
  3. Read Chapter 6 in your textbook in careful detail.  Pay close attention to the graphs in Figures 1 – 5. Focus on Figure 5 in particular.   You may also wish to review the CBO Report CBO Report – Alternative Formats on employment and income impacts of an increased minimum wage.
  4. Read Should the Minimum Wage Be $15 an Hour?
  5. Based on the videos, the readings and any additional research you decide to do (remember to cite and reference all your sources) what you do think will be the market impact(s) of the proposed increase in the federal minimum wage to $15 per hour?
    1. Will the proposed increase help workers? And if so which part(s) of the labor market will be helped?
    2. Which part(s) of the labor market will hurt by the proposed increase? How will they be hurt?
    3. What will happen to the prices of goods and services produced with minimum wage labor?
  6. What is your conclusion? Is this proposal a good idea or not? Explain why.
  7. Post your views to the discussion board and refer to at least two different concepts from this week’s Chapters. Your illustration of concepts MUST include an explanation why you think they are are relevant to the week’s topic using specific information from the articles, videos and other research that you have done.

Using your own words, please submit a summary emphasizing the meaning of each chapter assigned. Your summary cannot contain less than 250 words. Please include a word count.

Assignment History

  • Find a news article on the Internet that describes a shift in the supply curve or in the demand curve. The article must be recent (within the last six months), and MUST NOT be from an encyclopedia or reference website that discusses demand and supply. DO NOT use blogs.  Use well established business web sites or industry specific web sites.
  • The best articles are about changes in the price and/or sales of a particular product. You then have the opportunity to demonstrate your understanding of supply and demand shifts as you explain the changes in price and quantity experienced by the product you choose.
  • RECOMMENDATION: READ THE SAMPLE PROJECT: Under the Getting Started link.
  • Summarize the article. (Do not quote the article, but explain it as if you were telling someone about it. If you do use direct quotes or paraphrases, remember that citations and references are required.)
  • Explain which graph in our collection – A, B, C, or D – illustrates the shift that you identify by describing the change in price and the change in equilibrium quantity (remember the difference between a change in quantity and a change in the position of the curve – these are described in the documents linked above).
  • Some articles may describe a situation where both curves shift.  This is not common but it is possible.
  • Do use paragraphs in your post. And do remain focused on what is in the article.
  • Provide a full URL link to the article along with an APA-formatted reference to the article at the bottom of your submission.
  • Important: This is a Microeconomic course. Do not choose an article discussing Macroeconomic issues: Inflation, unemployment, trade deficit, government budget deficit, etc.

 

Video demonstrating how to look for an article:

Read “Florida Lawsuits Allege Price Gouging,” and “They Clapped: Can Price-Gouging Laws Prohibit Scarcity? Summarize the main points and decide which graph (A, B, C, or D) can be used to explain each event and why. Read also in your textbook the article from chapter 4: “In the News: Price Increases after Natural Disasters” (page 84). The latter is assigned to help you form an opinion on the issue.

What is your conclusion? Is price gouging a good thing or not? Explain why.

 

(Text Book)

 

Title: Principles of Economics
  Loose-leaf with MindTap
  Edition:  9th
  Publisher: Cengage Learning  
  Language: English

  • ISBN-13: 978-0357476802

The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help.

   Using the Internet, library, or other resources, research and briefly explain 2–3 methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
   Which of these methods of encouraging growth would you suggest for the typical company in Hong Kong and Singapore?
    Explain the rationale for your choice.