XECO 212 Assignments Week 1-9

XECO 212 Assignments Week 1-9


Asked by 5 years ago
398.7k points

Week 1

CheckPoint: A New House Readiness

Deciding to buy a house is a lifelong goal for many people. Imagine that you are renting a studio apartment and have just discovered you are having a baby. Your present apartment is small and far from schools and local services. You have decided to move. There are many factors that come into play when making such a large and weighty purchase. Examine the decision-making process from the perspective of an economist. In your Final Project, you use these principles and other factors to make a final decision whether to buy a house.

  • Consider the 10 Principles of Economics as outlined in Ch. 1 of the text.

 

  • Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.

 

  • Submit a 250- to 300-word response addressing the following points:

 

  • Which of the 10 principles do you think plays a major role in your decision?
  • Provide an example for each about decision-making, interaction, and the workings of the economy.
  • Explain how that influences the marginal benefits and marginal costs associated with the decision to purchase a house.

 

Week 2

CheckPoint: Price Elasticity and Supply and Demand Short Answer Quiz

 

  • Complete the Price Elasticity and Supply and Demand Short Answer Quiz in Appendix B.
  • Post your completed chart as an attachment.

 

Assignment: Supply and Demand Paper

 

  • Choose one good with which you have had experience purchasing:

 

  • New home
  • New car
  • Vacation to a theme park
  • Washing machine
  • Computer
  • College
  • Other

 

  • Write a 700- to 1,050-word paper explaining factors that affect supply and demand. Include the following:

 

  • Explain factors that could cause possible changes in supply and demand.
  • Determine at least two substitutes there may be for your product.
  • Determine at least two complements there may be for your product.
  • Explain how the necessity of your chosen good impacts price elasticity

 

  • Format your paper according to APA guidelines.

 

Post your assignment as an attachment.

Week 3

CheckPoint: Historical Example of Labor Supply and Demand

  • Submit a 250- to 300-word response addressing one of the following historical events in terms of labor supply and demand: the Great Depression, the Luddite Revolt, the Black Death, or the technology boom of the 1990s. Include the following:

 

  • What was the impact on the supply and demand of labor on one sector of the labor market?

Explain the factors that affected labor demand and labor supply in the chosen historical example.

 

Week 4

CheckPoint: Market Structures Table and Questions

  • Complete the Market Structures Table and Questions in Appendix C.

Post your completed table and questions as an attachment.

 

Assignment: Maximizing Profits in Market Structures Paper

 

  • Consider competitive markets, monopolies, and oligopolies. What role does each of these play in an economy?
  • Write a 1,050- to 1400-word paper on Market Structures and Maximizing Profits. Address the following:

 

  • What are the characteristics of each market structure?
  • How is price determined in each market structure in terms of maximizing profits?
  • How is output determined in each market structure in terms of maximizing profits?
  • What are the barriers to entry, if any?
  • What role does each market structure play in the economy?

 

  • Format your paper according to APA guidelines.
  • Post your assignment as an attachment.

 

Week 5

CheckPoint: A New House Risks and Benefits

The government and the fiscal policy it implements play a large role in the housing market. In this CheckPoint, you examine how government policy has consequences for you and the decision to buy a house. This helps you consider situations and alternative decisions in your final project.

  • Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.

 

  • Evaluate the health of the housing market for the next two years by researching forecasts for mortgage rates, housing starts, and housing prices. The following Web sites provide a starting place for your research:

 

  • Mortgage rates: http://www.realtor.org
  • Housing starts: http://www.nahb.org
  • Housing prices: http://www.mbaa.org

 

  • Submit a 250- to 300-word response addressing the following questions:

 

  • Which government bodies influence national fiscal policies that potentially affect the housing market?
  • What are some national fiscal policies that can affect mortgage rates, housing starts, and housing prices? Be sure to provide specific examples.
  • What is your recommendation as to the risks and benefits of purchasing a home based on these considerations?

 

Week 6

CheckPoint: Money

  • Submit a 250- to 300-word response addressing the following points:

  • Money acts as a unit of account, medium of exchange, or a store of value. Describe each of these different functions.

  • Provide an example of your use of money in each of these different functions.

 

Assignment: Money Train Multimedia Activity

 

  • Compete the Money Train Multimedia Activity.
  • Post your three responses as an attachment.

 

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Week 7

CheckPoint: A New House Economy

The difficulties of the economy affect many of the decisions you make as a consumer. No more so than when you are buying a house. The health of the economy is a factor you must consider when buying a house. Sometimes the economy favors sellers and at other times it favors buyers. This CheckPoint helps you refine your decision to buy a house; it prepares you to explain in your final project how the strength of the economy, government spending, and taxes affect the marginal costs and benefits of your decision.

 

  • Consider the role of government bodies that affect the strength of the economy.

 

  • Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.

 

  • Submit a 250- to 300-word response addressing the following points:

 

  • Explain how the strength of the economy as a whole could affect the marginal benefits and the marginal costs associated with a decision to purchase a home.
  • How does the removal of the tax deduction on mortgage interest affect the housing market?

 

 

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Week 8

CheckPoint: International Trade Debate

  • Post a 250- to 300-word response to the following debate topic: The United States must place high tariffs and use quotas to restrict trade with foreign countries.
  • Consider the following issues:

 

  • The strength of the dollar on domestic and global economies
  • Benefits from tariffs or quotas
  • Losses from tariffs or quotas

 

 

Assignment: International Trade Simulation

 

  • Complete the International Trade Simulation.
  • Write a 1,050- to 1,250-word report advising the President of Rodamia making recommendations for international trade. Address the following:

 

  • List at least one advantage and one limitation of international trade you encountered in the simulation.
  • Define absolute and comparative advantage in your own words.
  • Explain how absolute and comparative advantages were used in your simulation.
  • Describe the influences affecting foreign exchange rates.

 

  • Format your report according to APA guidelines.
  • Post your assignment as an attachment.

 

Week 9

Final Project: A New House Decision

 

  • Review the final project criteria in Appendix A.

 

  • Write a 1,750- to 2,450-word word paper in which you decide whether to purchase a house.

 

    • Discuss which principles of economics directly relate to your purchasing decision.
  • Compare the marginal benefits and the marginal costs associated with your purchasing decision.
  • Explain how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with that decision.
  • Consider the roles of the domestic economy and international trade in your assessment of the strength of the economy.
  • Determine what situations or conditions could have led you to make a different decision.

 

  • Assume for this project that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.

 

  • Use three to five references in your paper.

 

  • Format your paper according to APA guidelines.

 

  • Post your paper as an attachment.

 

 

XECO 212
maddy

1 Answer

Answered by 5 years ago
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 XECO 212 Assignments Week 1-9

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Excerpt from file: The principles which would be most applicable for me in my decision for buying a new home would be Principle 6, Principle 8, and Principe 9. Principle 6: Markets are usually a good way to organize economic activity. This can impact the market economy and help me as a home buyer decide whether the

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