...Microeconomics Article Summary The Microeconomics Article Summary must, in some way, relate to a change in one or more determinants of supply or demand or the imposition of a price ceiling or floor. Microeconomics Article Summary research papers take a vast amount of time to outline and write. Here is a suggestion on how Paper Masters lays out an assignment like that. For this project you must select a current (no more than 6 to 8 weeks old) article from the Wall Street Journal, Business Week, a newspaper or any other credible written conveyor of news. The article must in some way relate to a change in one or more determinants of supply or demand or the imposition of a price ceiling or floor. Below is an outline of how your topic research paper should be laid out. I. Article Summary In this section, provide a summary of the article you have selected. This section should be approximately one paragraph in length. II. Primary Economics Elements Identify the key economic elements of the article. Since this is a market analysis (Demand and Supply) then make sure what part of the market you are interested in, demand or supply or both. For example, explain if your article involves a change in the determinants of demand, supply, or maybe involve a price control (like price floor/ceiling, or tax). Discuss the specific economic components. This should also be about one page long. III. Graphical Analysis This analysis must include depiction of a market (demand and Supply)...
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...Microeconomics Paper One Renee Ingram Chamberlain College of Nursing Econ312: Principles of Economics Spring 2013 MICROECONOMICS 2 Every day individual consumers make choices for products they feel are needed in their lives. Whether out of comfort or necessity, the choices made can determine the standard of living for the individual. Research by McConnell, Brue, and Flynn (2012) argue, “Even though biologically people need only air, water, food, clothing and shelter,” once these basic needs are met, the other items desired are only to make one’s life more comfortable (McConnell, Brue, & Flynn, 2012). However, the choices made by these individuals have one obstacle, and that is how does one chose to use limited resources so as to satisfy these unlimited wants. This is where the idea of economics comes into play. Economics is defined as the basic study of supply and demand of goods in a market structure, and how this market is driven by self-interests of individual consumers for their unlimited wants. For consumers, McConnell, Brue, and Flynn (2012) suggest, “Individuals look for and pursue opportunities to increase their utility---they allocate their time, energy, and money to maximize their satisfaction” (McConnell, Brue, & Flynn, 2012). Since goods or services are limited, the self-interest of individuals will drive them to choose one product or service over another in order to maximize their comfort. Bearing in mind the above stated...
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...Economics Paper Deborah Robinson University of Phoenix ECO365 Brad Bennett March 2, 2009 Introduction The following paper will define economics, microeconomics, and the law of supply and demand. The paper will identify the factors leading to a change in supply and a change in demand, and will also analyze the basis for the trends in consumption patterns discussed in the article “As US Shoppers Retreat, Can World Thrive?” The author of the paper will analyze the article by considering the utility derived from the products mentioned in the mentioned article, and will describe what has occurred to change the demand for, or the supply of, the good or service. The paper will then conclude with the market prices of the products or services. Define Economics Economics is the research and study of income, production, land, investments, taxes, government spending and labor. Economics is a study of how people choose to earn and spend their resources. The choice needs to be made individually by people and countries about what goods and services they can purchase and which ones they need to delay. Resources are scarce and are pushing people and countries to make choices. Economics is studied from two perspectives. The first being governments of nations seek to maximize the production of countries. This perspective is referred to as macroeconomics. The second perspective is of individuals and firms; this perspective is known as microeconomics. Define Microeconomics Microeconomics...
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...Individual Assignment University of Phoenix This paper is written in response to the University of Phoenix Eco365 class. In this paper I will define economics, microeconomics, the Law of supply and demand and I will also identify the factors that lead to changes in supply and demand. The business world is very susceptible to the nuances of consumer choices. The ability to anticipate the trends in consumer consumption patterns is vital any company who seeks to be a leader or major player in their field. Constant research and analysis is performed each year to determine or create the trends not only in who are the company’s current customers but future customers as well. This research is also used to determine what those customers want and why. To really understand trends in consumption patterns, you have to first understand the basic principles of economics. Economics Economics is the science that studies the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems (Colander). One example of economics is the new job tax credit that President Obama has proposed. This credit encourages businesses to expand their workforces and operations by offering $3,000 for each new job that a company creates and places someone in, thereby increasing production of products with the intent to lure consumers to spending more. Microeconomics Microeconomics is the study of the operations of the components of a...
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...Terms Comparison Paper Health Care Economics/HCS 552 November 18, 2013 Professor Alex Kadrie Terms Comparison Paper Economics is defined as a social science that examines how resources, particularly scarce resources are produced, distributed, and consumed. Health economics is a field of study that applies the principle of economics to the study of health care (Dewar, 2007). Economic understandings are essential to any discussion of health care policy or expenditure. Economics is divided into two categories macroeconomics and microeconomics. Macroeconomics focusses as the economy as a whole, where microeconomics focuses on exchanges, and decisions made between entities. Health care economics falls under microeconomics, focusing on exchanges between physicians, hospitals, insurance companies, and patients. Economics and health care economics use similar terminology, but with different meanings. Some of these terms include resources, opportunity costs, and technology. Resources A resource is a product needed to accomplish an activity, or a means to achieve a desired outcome (Business dictionary, 2013). Resources in health care include medical supplies, medical staff, and capital inputs. Medical supplies entail items like patient gowns, medications, syringes, and bandages. Medical staff consists of physicians, nurses, administrative staff, technicians, and support staff. Areas that fall under capital input include hospitals, other health...
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... where supply of a product represents how much quantity of a product that a market can offer at a given price-level. Demand and supply of a product depends on different factors. Demand of a product (suppose, X) depends on the price of that product (PX), price of the related commodities, consumers’ income, population or number of consumer, test and preferences of consumers etc., while supply of a product ( suppose, X), depends on the price of that product (PX), production – cost, price of production factors, future expectation about the price level etc. Before discussing about the demand and supply of certain resources in Australia and factors other than price which affect demand and supply, the mechanism of demand and supply in microeconomic analysis...
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...TARGET CORP. 1 Microeconomics: Target Corp. Yolanda L. Ramos-Guistizia Southern New Hampshire University TARGET CORP. 2 Microeconomics – Target Corp. For this research paper I picked Target Corp. (Target) as the firm I'll be analyzing and the market that Target is apart of. Target is the second largest American retailer and mass merchandiser. It sells household essentials and fashionable merchandise at discounted prices. Throughout this final project I will discuss supply and demand and pricing and marketing techniques. I will also discuss Target's successes within the United States, their abrupt exit from the Canadian market. "Microeconomics is the study of how households and firms make choices, how they interact in markets, and how the government attempts to influence their choices." (Hubbard and O'Brien, 2013, p. 15) History of Target Corp. Target was founded in Minneapolis, Minn. in 1902 under Dayton Dry Goods Company and in 1911, it's founder George D. Dayton, renamed it The Dayton Company to better reflect their services and goods. George D. Dayton creates The Dayton Foundation with a $1 million endowment and a purpose to aid in promoting the welfare of mankind anywhere in the world. Renamed the Dayton-Hudson Foundation in 1969, it later becomes the Target Foundation in 2000. (Target Corporation, n.d.) In 1946 Target becomes the second American organization to come up with a preset amount to donate annually. The organization settles on...
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...Microeconomics examples of topics for essay#1 IMPORTANT Guidelines for essay - You are doing a short research paper. Therefore, you need come up with research questions or thesis. Think what interests you in what we cover in the class. For example, o If you are interested in outsourcing, your research questions could be “Is the US better off or worse off because of the outsourcing to China?”. Then you go do a research on it. Find academic articles or news articles that support and/or against outsourcing. o You do research by reading those articles that you found and then combine the information you find into a unified paper that represents your fully formed expertise. The key to the whole thing is "combining," so as you do your research, look for facts and information that go well together and help explain (or disagree with) each other o You may start your introduction and research questions. Then start a second paragraph with a short explanation of what is “outsourcing” and state facts such as how many dollars or how many jobs the US outsourced to China in 2010. o The paper must show an analysis of a real world outsourcing situation such as what are the problems with the outsourcing, why there are the problems, how to fix the problems, what the pros and cons of each solution are, and how it will affect consumers who buy imported goods at Walmart or exporters to China. o Warning: You should...
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...Trends In Consumption Patterns Paper By Tonue D. Sargent ECO/365 - Principles of Microeconomics January 14, 2013 Dr. Peggy Douglas– Instructor For trends in consumption patterns one must anticipate what the consumer is going to purchase. It is the law if supply and demand. When a product is made for people that they feel as though they cannot live without in the mass market, everyone will want it and therefore you have a high demand for it. Look at the coffee shop industry and the coffee business. The market for specialty coffees has become very popular since consumers are more knowledgeable of espresso drinks and how they are made. This paper will explore the basis for these trends in consumption patterns, to include the effectiveness resulting from coffee, changes in demand, market prices and the elasticity of demand for coffee. The paper will also define economics, the law of demand and supply, and discuss factors that can lead to a change in supply and demand. Each year, the National Coffee Association of the USA publishes a report on National Coffee Drinking Trends. This report is known one of the bibles of the coffee industry. According to First Research coffee shops businesses grew to 20,000 shops in the U.S. having combined revenue of $10 billion as reported in 2011. Over half of the adult population drinks coffee at some point. It is known that 66 percent of Americans buy their coffee outside...
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...the top 10 economics journals. This study highlights this fact and has found tenure to be a likely cause for the lack of Asia-focused articles. This stems from the strong emphasis universities place on the publishing of articles and with the belief that there is a lack of reliable data on Asia, researchers are less inclined to conduct studies on Asia given that top economics journals require accurate and dependable data for publishing. 1 FYP Project Number: HE_2AY1415_09 ACKNOWLEDGEMENTS We, the authors of this paper, would like to express our heartfelt gratitude to Chia Wai Mun, Associate Professor, School of Humanities and Social Sciences, Nanyang Technology University, for her unwavering support and constant guidance throughout this project. We would also like to thank the professors, academics and researchers from around the world for taking their time to give us their valuable insight and opinion. Without their opinions, this paper would not have been possible. Lastly, we would like to express our appreciation to our family and friends who have supported us in one way or another, not...
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...Chander Shekhar Dogra TextBook 1. Geetika, Ghosh Piyali, Purba Roy Choudhury, Managerial Economics, Tata McGraw Hill, New Delhi, 2008 Other Specific Books 2. 3. 4. Other Readings Ahuja, H.L,”Modern Microeconomics Theory and Applications,” Sultan Chand, 2008 Misra and Puri, Economic Environment of Business, 4th Edition, 2007. Samuelson, P.A. and W.D. Nordhaus (1998), Economics, Tata McGraw Hill, New Delhi 2008 Dominick Salvatore, Managerial Economics, Oxford University Press, Sixth Edition Sr. No. Jouranls atricles as compulsary readings (specific articles, Complete reference) 5 6 7 8 Competition and the cartel crusade, Alan Moran. Review - Institute of Public Affairs. Melbourne:Jan 2008. Vol. 59, Iss. 4, p. 57-59 Supply and Demand Irena Asmundson. Finance & Development. Washington:Jun 2010. Vol. 47, Iss. 2, p. 48-49 Impact of Anti dumping measures on Indian Industry by Swati Jain, Sudhir K. Jain, Decision, Vol 35, No 1, January-June, 2008, p 3. The New Global Opportunity by Michael Elliot, Fortune, July 5, 2010, Vol 162, No 1, Relevant Websites Sr. No. Web adress (only if relevant to the courses) Salient Features 9 10 11 www.ecommerce-guide.com www.bloomberg.co.uk www.mit.edu Excellent source of reference for market research Excellent data on crrent market, economic, industrial and financial trends as a valuable sources of reference. Valuable source of reference for basicand advanced concepts of economics. Page 1 of 10 Approved...
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...on “Analyzing Motivation Strategies, Techniques And Performance of Dhaka Bank Ltd.” Principles of Accounting: Term paper on “Accounting Practices in Square Pharmaceuticals Limited”. Human Resources Management: Research on “Occupational Safety and Health: Status in the Tannery Industry” Microeconomics: Term paper on “Structure of rice market in Bangladesh”. Principles of Management: Term paper on ‘The Management of Beximco Pharmaceuticals limited”. Managerial Accounting: Term paper on “Analyzing how to Managerial Accounting Practice of Square Pharmaceuticals limited”. Financial Management:- Term paper on “Working Capital Management of Textile Industries in Bangladesh” Production & Operation Management: Term paper on “Production & Operation Management of Shinepukur Ceramics Ltd.” Strategic Management: Case study on Sun Microsystems and General Dynamics: Compensation and Strategy (A) and also develop a case BCG Matrix. Marketing Research: A research on “The Effect of Corporate image in Formation of Customer Loyalty of the Mobile Phone industry in Bangladesh”. Corporate Finance: A research on “The Effect of Dividend Policy in Pharmaceuticals industries in Bangladesh” Financial Markets & Institutions: A report on “Investment Banking Operations of ICB Capital Management Limited”. PARTICIPANT OF THE WORKSHOP Workshop on “Research Methodology” organized by BUP, Recourse person: Dr. Muhammad Z Mamun, Professor, Institute of Business Administration...
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...UNIVERSITY OF TECHNOLOGY, JAMAICA SCHOOL OF BUSINESS ADMINSTRATION ECO 1001: INTRODUCTION TO MICROECONOMICS TUTORIAL #1 1. Which of the following is the best definition of economics? a) The study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided. b) The study of how consumers spend their income. c) The study of how business firms decide what inputs to hire and what outputs to produce. d) The study of how the Jamaican government allocates tax dollars. 2. Competitive behaviour a) occurs as a reaction to scarcity. b) occurs only in a market system. c) occurs only when the government allocates goods and services. d) always generates waste. 3. Which of the following can be classified as microeconomics or macroeconomics? Why? a) Research into why the growth rate of total production (in Barbados) increased during the1990s. b) A theory of how consumers decide what to buy. c) An analysis of IBM’s share of the personal computer market in Jamaica. d) Research on why interest rates were unusually high in the late 1970s and early 1980s. 4. Discuss whether each statement is an example of positive economics or normative economics or if it contains elements of both positive and normative economics: a) An increase in interest rates will lower the growth rate of the Jamaican economy. b) The 1990s was...
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...“The Competitive Effects of Advertising in the US Automobile Industry, - Greuner, Kamerschen and Klein “Organizational or Frictional Equilibria, X-Efficiency, and the Rate of Innovation.” The Quarterly Journal of Economics Leibenstein “X-Inefficiency Xists-Reply to an Xorcist” American Economic Review Leibenstein Introduction paper 1: Is advertising anticompetitive? Some economists argue that advertising performs a useful social function by providing consumers with information about price, product quality, and availability, making markets more competitive and driving down profit rates. Empirical evidence on the relationship between advertising and profitability is mixed. The pioneering study by Comanor and Wilson found a positive and statistically significant relationship between advertising and profits, as did an early study by Shephard. These results were challenged by others because they treated advertising as an expense rather than an investment, overstating the true rates of return to advertising. More recently, other economists have found positive and statistically significant relationships between advertising and profits in US manufacturing. Porter and other economists failed to find a statistically significant effect. As is well known, however, the causal relation between advertising and profit is uncertain, and some of the early studies regressing profit rates on advertising fail to account for the possible endogeneity of advertising. We contribute to this...
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...You must translate your ideas into economic analysis using the specific economic theory and economic terms contained in the TCOs covered in the course, and demonstrate that you are understanding and utilizing material from text chapters covered up to this point in the course, to receive full credit on the assignment. You are being asked to submit a report containing responses to three exercises. Exercise 1 entails a choice of one topical microeconomic issue out of two possible alternatives. Exercises 2 and 3 entail a choice of two textbook questions out of a list of possible alternatives. |Exercise 1 | | | | | Choose one of the following two microeconomic issues: 1. Everyone’s Gasoline Problem. We are all familiar with fluctuating prices of gasoline at the pump. Why does this happen? Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors, as outlined in our book....
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