Free Essay

Week Two Student Guide

In:

Submitted By tigertextin
Words 431
Pages 2
Week Two Student Guide

This week’s topics cover cost concepts including production levels, fixed and variable costs, and the application of cost concepts in making business decisions. The chief concerns of many businesses are revenues and profits, which are often translated into cutting costs. The concept of efficiently utilizing available resources is explored as the readings review demand for resources, fixed and variable costs, and labor productivity and wages. The choice of production level or quantity is affected by the market structure in which a firm is operating. Therefore, the market structure of pure competition is introduced this week to explain how different businesses look at the revenue and cost structures. The topic of cost curves indicates the trade-offs between fixed and variable costs as well as labor and capital.

Cost Concepts

OBJECTIVE: Identify production level to maximize profits.

Resource: Ch. 9 & 12 of Economics

Content

• Ch. 9: Pure Competition

o Four Market Models o Pure Competition: Characteristics and Occurrence o Demand as Seen by a Purely Competitive Seller o Profit Maximization in the Short Run: Total-Revenue–Total-Cost Approach o Profit Maximization in the Short Run: Marginal-Revenue–Marginal-Cost Approach o Marginal Cost and Short-Run Supply o Profit Maximization in the Long Run o Pure Competition and Efficiency

• Ch. 12: The Demand for Resources

o Significance of Resource Pricing o Marginal Productivity Theory of Resource Demand o Determinants of Resource Demand o Elasticity of Resource Demand o Optimal Combination of Resources o Marginal Productivity Theory of Income Distribution

OBJECTIVE: Explain how to balance fixed and variable costs.

Resource: Ch. 8 of Economics

Content

• Ch. 8: The Costs of Production

o Economic Costs o Short-Run Production Relationships o Short-Run Production Costs o Long-Run Production Costs o Applications and Illustrations

OBJECTIVE: Apply economic cost concepts in making business decisions.

• Resource: Ch. 12 & 13 of Economics

Content

• Ch. 12: The Demand for Resources

o Significance of Resource Pricing o Marginal Productivity Theory of Resource Demand o Determinants of Resource Demand o Elasticity of Resource Demand o Optimal Combination of Resources o Marginal Productivity Theory of Income Distribution

• Ch. 13: Wage Determination

o Labor, Wages, and Earnings o General Level of Wages o A Purely Competitive Labor Market o Monopsony Model o Three Union Models o Bilateral Monopoly Model o The Minimum-Wage Controversy o Wage Differentials o Pay for Performance

Note. The information above is intended to help you complete your assignments. Read chapters in their entirety, as indicated in the syllabus. Additional information from sections not outlined above may be needed for classroom discussions.

Similar Documents

Premium Essay

Week Two Student Guide

...Week Two Student Guide Week Two continues to focus on fundamental concepts and indicators of the macroeconomy. The main topics uncovered for this week include aggregate demand, aggregate supply, the Keynesian Model, and the Classical Model. You have an opportunity to explore these concepts in the Learning Team Weekly Reflection, the Fundamentals of Macroeconomics Paper, and the discussion topic. Aggregate Demand and Supply Models OBJECTIVE: Analyze the impact of various factors on aggregate demand and supply. Resource: Ch. 10 of Macroeconomics. Content • Ch. 10: “The Aggregate Demand/Aggregate Supply Model” o The Historical Development of Modern Macro o The AS/AD Model o The Aggregate Demand Curve o The Short-Run Aggregate Supply Curve o The Long-Run Aggregate Supply Curve o Equilibrium in the Aggregate Economy o Why Macro Policy Is More Complicate Than the AS/AD Model Makes It Look OBJECTIVE: Evaluate the effectiveness of changes in fiscal policies using Keynesian and Classical models Resource: Ch. 12 of Macroeconomics. Content • Ch. 12: “Thinking Like a Modern Macroeconomist” o Why It Is Important to Know about Modern Macro Theory o Engineering Models and Scientific Models o From the Keynesian Revolution to Modern Macro Models o A Beginner’s Guide to the DSGE Model o Policy Implications of the DSGE Model o How Relevant Are the Problems? o Modern Macroeconomic...

Words: 267 - Pages: 2

Free Essay

Dags

...InboxMy ProfileWhat's NewHelpLogoutWelcome Raul Villa (IRN:9043094984).HomeClassroomLibraryProgramAccountPhoenixConnect.ACC/561 MaterialsDiscussionAssignmentsGrades.ACC/561 ACCOUNTING Start Date: 07/25/2012 PrintCOURSE DESCRIPTION This course applies accounting tools to make management decisions. Students learn to evaluate organizational performance from accounting information. Other topics include financial statements, cost behavior, cost allocation, budgets, and control systems. Week 1 - Topic 1: Financial Reporting and AnalysisObjectives Differentiate between financial statements. Evaluate financial statements of nongovernment organizations. Recognize the major aspects of the regulatory environment. Materials Week One Student Guide WILEY PLUS: WileyPLUS Readings Week One WILEY PLUS: WileyPLUS Practice Week One ARTICLE: Week One Electronic Reserve Readings Final Examination Study Guide Assessment Individual Assignment: WileyPLUS Assignment Week One Resources: WileyPLUS and Accounting Access WileyPLUS using the link on the student website. Complete the following in WileyPLUS: Brief Exercise BE 1-7 Brief Exercise BE 1-8 Brief Exercise BE 1-9 Individual Assignment: Financial Statement Differentiation Paper Write paper of no more than 700 words discussing the four different types of financial statements. Explain the information provided by each financial statement and include your responses to the following questions: Which financial statement...

Words: 958 - Pages: 4

Free Essay

Syllabus 405

...Course Design Guide HCS/405 Version 5 1 Course Design Guide College of Natural Sciences HCS/405 Version 5 Health Care Financial Accounting Copyright © 2012, 2010, 2007, 2005, 2004, 2002, 1999 by University of Phoenix. All rights reserved. Course Description This course provides an understanding of the general principles of accounting applied in the health care environment. It includes an overview of sources of revenue for various health care entities. The fundamentals of financial planning, cost concepts, capital budgeting, and management analysis are applied in the health care environment. Issues surrounding the development and management of budgets are also examined. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Baker, J. J., & Baker, R. W. (2011). Health care finance: Basic tools for nonfinancial managers (3rd ed.). Sudbury, MA: Jones & Bartlett Publishers. All electronic materials are available on the...

Words: 2212 - Pages: 9

Premium Essay

Accg301

...Control ASSESSMENT GUIDE Session 2, 2015 Department of Accounting and Corporate Governance The most efficient way to contact staff is via email using your student email account. Please use this form of contact in the first instance for general course enquiries. We will only receive emails sent to the subject email account accg301@mq.edu.au ACCG301 Assessment Guide Session 2, 2015 1 MACQUARIE UNIVERSITY FACULTY OF BUSINESS AND ECONOMICS ASSESSMENT GUIDE Assessment Task 1 Title/Name Description Assessment Task 2 Assessment Task 3 Assessment Task 4 Assessed Coursework (Pre-set Tutorial Questions) The objective of this assessment is to provide students with an opportunity to demonstrate that they are working continuously throughout the session to achieve the learning outcomes of the unit. This assessment is based on students’ completion of pre-set tutorial questions on a weekly basis and their effort in attempting additional questions in class. Case Study/Report: Group Based Research Report The objective of this assessment is to encourage students to analyse published academic research papers, to locate and research profiles of organisations globally, and demonstrate understanding of a range of theoretical concepts relating to organisational planning and controls, as they apply to these organisations. Given that research is often conducted in teams, this assessment is done in groups so that students can appreciate the ...

Words: 4411 - Pages: 18

Free Essay

Interculteral Communication

... |COM/360 Version 3 | | |Intercultural Communication | Copyright © 2010, 2009, 2004 by University of Phoenix. All rights reserved. Course Description The purpose of this course is to assist students in understanding and applying the principles of effective intercultural communication in a diverse society and in global commerce. Students will develop an understanding of why and how cultural issues influence effective communication. This course introduces techniques for improving written, oral, and interpersonal communication skills in response to intercultural settings. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Lustig, M. W. &...

Words: 1409 - Pages: 6

Premium Essay

Gen 200

...Design Guide GEN/200 Version 2 Course Syllabus College of Humanities GEN/200 Version 2 Foundations for General Education and Professional Success Copyright © 2011, 2008 by University of Phoenix. All rights reserved. Course Description This general education course is designed to introduce the intentional learner to communication, collaboration, information utilization, critical thinking, problem solving, and professional competence and values. The course uses an interdisciplinary approach for the learner to develop personal academi c strategies in order to reach desired goals and achieve academic success . Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:   University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Ellis, D. (2011). Becoming a master student (13th ed.). Boston, MA: Wadsworth, Cengage Learning. All electronic materials are available on the student website. 1 Course Design Guide GEN/200 Version 2 Week One TOPICS...

Words: 3013 - Pages: 13

Premium Essay

Ece 311 Week 4 Final Paper Outline

...ECE 311 WEEK 4 FINAL PAPER OUTLINE To purchase this visit here: http://www.activitymode.com/product/ece-311-week-4-final-paper-outline/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECE 311 WEEK 4 FINAL PAPER OUTLINE Final Paper Outline. Review the Final Paper instructions in Week Five. Submit an outline that identifies the age group you have chosen for your Final Paper and provide a brief description of each philosophy/theory you have chosen for your Final Paper. Cite your text and at least two other scholarly sources. This assignment should include: 1. A title page 2. Identification of the age group you have chosen 3. A description of three philosophies/theories you have chosen for the Final Paper 4. A reference page Your outline should be one to two pages in length, not including the title page and reference page. The outline (as well as the title page and reference page) should be formatted according to APA style as outlined in your approved style guide. Activity mode aims to provide quality study notes and tutorials to the students of ECE 311 Week 4 Final Paper Outline in order to ace their studies. ECE 311 WEEK 4 FINAL PAPER OUTLINE To purchase this visit here: http://www.activitymode.com/product/ece-311-week-4-final-paper-outline/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECE 311 WEEK 4 FINAL PAPER OUTLINE Final Paper Outline. Review the Final Paper instructions in Week Five. Submit an outline that identifies the age group you have chosen for your Final...

Words: 971 - Pages: 4

Premium Essay

Com172 Syllabus

...effective college essays: narration, illustration, description, process analysis, classification, definition, comparison and contrast, cause and effect, and argumentation. In addition, requirements for research essays, including the use of outside sources and appropriate formatting, are considered. Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:   UNIVERSITY POLICIES: You must be logged into the student website to view this document. INSTRUCTOR POLICIES: This document is posted in the Course Materials forum. Policies University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials: McLean, S. (2011). Writing for success. Irvington, NY: Flat World Knowledge. All electronic materials are available on the student website. Software/Supplemental Materials: MyWritingLab® Sample Paper (APA and Writing & Style Guidelines) Grammar and Writing Guides: APA Reference and...

Words: 3305 - Pages: 14

Premium Essay

Ece 311 Week 4

...ECE 311 WEEK 4 To purchase this visit here: http://www.activitymode.com/product/ece-311-week-4/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECE 311 WEEK 4 Final Paper Outline. Review the Final Paper instructions in Week Five. Submit an outline that identifies the age group you have chosen for your Final Paper and provide a brief description of each philosophy/theory you have chosen for your Final Paper. Cite your text and at least two other scholarly sources. This assignment should include: 1. A title page 2. Identification of the age group you have chosen 3. A description of three philosophies/theories you have chosen for the Final Paper 4. A reference page Your outline should be one to two pages in length, not including the title page and reference page. The outline (as well as the title page and reference page) should be formatted according to APA style as outlined in your approved style guide. Activity mode aims to provide quality study notes and tutorials to the students of ECE 311 WEEK 4 in order to ace their studies. ECE 311 WEEK 4 To purchase this visit here: http://www.activitymode.com/product/ece-311-week-4/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECE 311 WEEK 4 Final Paper Outline. Review the Final Paper instructions in Week Five. Submit an outline that identifies the age group you have chosen for your Final Paper and provide a brief description of each philosophy/theory you have chosen for your Final Paper. Cite your text and at least two other...

Words: 911 - Pages: 4

Premium Essay

Grand Canyon Acc 664 Entire Course All Discussion and All Week Assignments and Case Study

...Grand Canyon ACC 664 Entire Course All Discussion And All Week Assignments And Case Study IF You Want To Purchase A+ Work then Click The Link Below For Instant Down Load http://www.hwspeed.com/Grand-Canyon-ACC-664-Entire-Course-3323122222202.htm?categoryId=-1 IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM Questionweek 1 Describe some of the tools and references available on the ACFE Web site and explain how they can be used by a forensic accountant. Provide at least two specific examples to support your explanation The article, "Help for Solving CPAs' Ethical Dilemmas" discusses ethical issues in today's environment. Discuss how these tools could assist a forensic accountant in evaluating an ethical issue. week 2 Select another state and compare and contrast that state's definition of fraud with Arizona's definition. Is either definition more appropriate than the other? Why? Based on the information provided in the Association of Certified Fraud Examiners 2010 Report to the Nation on Occupational Fraud and Abuse, select one of the major categories of occupational fraud and discuss in detail how perpetrators are able to commit these types of frauds. week 3''' Select an example of an asset misappropriation case and discuss how a perpetrator would commit this type of fraud and what types of internal controls management could implement to help to prevent or detect this type of fraud. 2 ...

Words: 1703 - Pages: 7

Premium Essay

Bis 220

...University of Phoenix. All rights reserved. Course Description This course provides an overview of Business Information Systems. Students learn to apply Microsoft® Office tools including word processing, spreadsheet, database, and presentation software to accomplish business objectives. Other topics include uses of application software and the Internet for effective problem solving, exploration of relevant emerging technologies, and how information is used across different industries. Course Dates 35 days Faculty Information Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents (both located on your student website): • Academic Policies University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Get Ready for Class • Familiarize yourself with the textbooks used in this course. Course Materials All electronic materials are available on your student website. Week1 Information Systems and Word Processing Tools Tasks • Download the new and improved Phoenix Mobile app. • Review the Week One Student Guide. 7 days Objectives/Competencies 1.1 Explain the benefits of information systems in the work environment. 1.2 Describe ethical...

Words: 789 - Pages: 4

Premium Essay

Hlt 205 Week 7 Complete Latest

...HLT 205 WEEK 7 COMPLETE LATEST To purchase this tutorial visit here: http://wiseamerican.us/product/hlt-205-week-7-complete-latest/ contact us at: SUPPORT@WISEAMERICAN.US HLT 205 WEEK 7 COMPLETE LATEST HLT 205 Week 7 Topic 7 Discussion 1 Describe how state Certificate of Need (CON) programs and Medicare Prospective Payment Systems (PPS) help decrease health care spending. Cite references to support your response. HLT 205 Week 7 Topic 7 Discussion 2 In the U.S. health care system, what are the two basic challenges to access which will not be resolved by a mere expansion of health insurance to the uninsured? Cite references to support your response. HLT 205 Week 7 Assignment Policy Interview Analysis Details: Important Notice: It is important for students, as they progress through this program, to learn from those currently working in health care. For this assignment, students will interview a health care professional. It is important that you start a search for potential candidates to interview at the beginning of the course as many health care professionals have limited availability due to their schedules. It is recommended that upon finding a candidate for the interview that you schedule a meeting a few weeks in advance. You may complete the interview face to face, over the phone, or through an e-mail correspondence if necessary. The Interview: Identify at least 10 questions around governmental policy that are critical to understanding current and future issues...

Words: 1488 - Pages: 6

Premium Essay

Papl

...conducting business research for improving decision making within an organization. Students will learn to apply an understanding of commonly employed business research techniques to improve a situation, solve a problem, or change a process. Other topics include problem framing, data collection, data analysis, and data presentation. Week 1 - Topic 1: Recognizing the Situation Objectives Recognize a situation, problem, issue, or opportunity that needs addressing. Determine the significance, scope, magnitude and feasibility of finding a solution to the situation, problem, issue, or opportunity. Identify ethical issues involved in business research. Describe the business research process. Materials Week One Student Guide Sample Examination to prepare for Final Examination EBOOK COLLECTION: Business Research Methods, Ch. 1 EBOOK COLLECTION: Business Research Methods, Ch. 2 EBOOK COLLECTION: Business Research Methods, Ch. 3 EBOOK COLLECTION: Business Research Methods, Ch. 4 ARTICLE: Week One Topic Searches Assessment Individual Assigment: Current Events in Business Research Write a 300-word summary of the business research process by describing the business research process from your experience in the workplace or in an article you find through the University Library. Format your paper consistent with APA guidelines. Please see the instructor's syllabus for this week's assignments. Week 2 - Topic 1: The Purpose of Business Research Objectives State the purpose...

Words: 669 - Pages: 3

Premium Essay

Study Guide

...MG1016 – Managing Information with Technology UG study guide for 2012/13 MG1016 – Managing Information with Technology UG study guide for 2012/13 Date last updated: [08/08/12] Date approved by module reviewer: Date checked by PG pathway leader: [10/09/12] Date last updated: [08/08/12] Date approved by module reviewer: Date checked by PG pathway leader: [10/09/12] Introduction You should read this study guide carefully and also ensure that all the links have been followed to other accompanying documents that include, for example, information on coursework submission. Information in this study guide is maintained by Dr Chris Evans (chris.evans@brunel.ac.uk) Policy statements The Business School Student Handbook can be found on the Business School Blackboard Learn site (Academic Programme Office - APO). The Student Handbook is a useful source of information for all aspects of your studies, including policy, procedures, plagiarism, house style for assignments, joint and group work submissions and other important matters. The School assumes that you will familiarise yourself with this information, so you will need to look at these pages carefully at various times throughout your studies. The School also operates within the rules and regulations of the University more generally, and you should also look at what are known as 'Senate Regulations’ under the University’s webpages at: http://www.brunel.ac.uk/about/administration/rules/senateregs/ ...

Words: 3877 - Pages: 16

Premium Essay

Meaning of Life

...conducting business research for improving decision making within an organization. Students will learn to apply an understanding of commonly employed business research techniques to improve a situation, solve a problem, or change a process. Other topics include problem framing, data collection, data analysis, and data presentation. Week 1 - Topic 1: Recognizing the Situation Objectives Recognize a situation, problem, issue, or opportunity that needs addressing. Determine the significance, scope, magnitude and feasibility of finding a solution to the situation, problem, issue, or opportunity. Identify ethical issues involved in business research. Describe the business research process. Materials Week One Student Guide Sample Examination to prepare for Final Examination EBOOK COLLECTION: Business Research Methods, Ch. 1 EBOOK COLLECTION: Business Research Methods, Ch. 2 EBOOK COLLECTION: Business Research Methods, Ch. 3 EBOOK COLLECTION: Business Research Methods, Ch. 4 ARTICLE: Week One Topic Searches Assessment Individual Assigment: Current Events in Business Research Write a 300-word summary of the business research process by describing the business research process from your experience in the workplace or in an article you find through the University Library. Format your paper consistent with APA guidelines. Please see the instructor's syllabus for this week's assignments. Week 2 - Topic 1: The Purpose of Business Research Objectives State the purpose...

Words: 825 - Pages: 4