ECON 545 GENIUS Teaching Effectively Econ545geniusdotcom

8/18/2019 ECON 545 GENIUS Teaching Effectively Econ545geniusdotcom

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CON 545G NIUS Teaching ffe

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ECON 545 Enti$e Cou$se 6 7inal

E am #Ne3%

• ECON 545 ee! ) "* ) Su++ly and "emand• ECON 545 ee! ) "* , Elasticity and the .inimum age• ECON 545 ee! , "* ) .a$ginal Analysis• ECON 545 ee! , "* , Cont$olling Costs• ECON 545 ee! "* ) .e$ge$s Ac0uisitions• ECON 545 ee! "* , Antit$ust 2olicy• ECON 545 ee! Cou$se 2$o8ect ) .ic$oeconomic Analysis #Situati

on C%• ECON 545 ee! 4 "* ) Cu$$ent To+ic in .ac$oeconomics• ECON 545 ee! 4 "* , ealthca$e

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CON 545 ee! ) "* ) Su++

ly and "emand• hat is the diffe$ence 9et3een a change in demand ve$sus a change in 0uantity demanded: A change in su++ly ve$sus a change in 0uantity su++lied: hy is it so im+o$tant to diffe$entiate 9et3een these simila$1sounding te$ms:

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CON 545 ee! ) "* , last

icity and the .inimum age• hat a$e you$ thoughts a9out minimum 3age legislation: hat ! ind of a +$ice1cont$ol +olicy is this: ho gains: ho loses: A$e the$e alte$natives to this legislation fo$ achieving the same +olicy o98ectives: hat $ole do demand and su++ly elasticities +lay in dete$mining outcomes:

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CON 545 ee! , "* ) .a$gin

al Analysis• hy is ma$ginal analys is im+o$tant in economics: o3 do the tuto$ials ;asics of .a$ginal Analysis and Unde$standing and A++lying.a$ginal Analysis at the end of this 3ee!


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CON 545 ee! , "* , Cont$olling Costs

• Name some of the 3ays fi$ms attem+t to cont$ol thei$ costs= o3does you$ fi$m cont$ol costs: The !ey he$e in !ee+ing this 0uestioninte$esting is that $educing the 3o$!fo$ce o$ having one +e$son dothe 3o$! of th$ee +eo+le a$e not the only 3ays to cont$ol costs=I


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ECON 545 ee! Cou$se 2$o8ect ) .ic$oeconomic Analysis #Situation C%• The .ic$oeconomic 2a+e$ tests you$ a9ility to a++ly economic +$in

ci+les to a 9usiness decision= Select one situation f$om the items outlined 9elo3> A to "= Com+lete the +a+e$ on the selected situationas s+ecified 9elo3= The com+leted +a+e$ is a +$ofessional $e+o$t and is due in ee! #, ? +oints%= See the g$ading $u9$ic at the endof this document= ;e su$e to use the "e&$y li9$a$y fo$ finding data@avoid 0uestiona9le sou$ces such as i!i+edia=

• The follo3ing is a list of the s+ecific $e0ui$ed info$mation $esea$ch g$a+hs and math to 9e included in each ans3e$ $ega$dless of the

scena$io chosen=• )= "emand "ete$minants>

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9/20

CON 545 ee! "* ) .e$ge$

s Ac0uisitions• ave you eve$ 9een involved i n a me$ge$ o$ ac0uisition: If so tell us a9out you$ e +e$iences= If not comment on this 3ee!


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ECON 545 ee! "* , Antit$ust

2olicy• 'evie3 and chose a fi$m of you$ choice +$ovided 9y you$ inst$ucto$= Is this fi$m a mono+oly: In 3hat 3ays could it 9e conside$ed a mono+oly: hat ma$!ets a$e involved: hat anti1t$ust legislation 3ould a++ly: Is anti1t$ust legislation Bfai$B to you$ chosen fi$m: hyo$ 3hy not:

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ECON 545 ee! 4 "* ) Cu$$ent To+ic in .ac$oeconomics• Scou$ the national media fo$ a c$edi9le mac$oeconomic cu$$ent iss

ue #many good sou$ces a$e availa9le online% in 3hich Cha+te$s ) 1,) is at the hea$t of the matte$= Summa$iDe you$ a$ticle fo$ you$ colleagues and attach a lin! to you$ a$ticle= .a!e su$e you a++$o+$iately $efe$ to the te t9oo! sections that a++ly to you$ chosen a$ticle=

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ECON 545 ee! 4 "* , ealthca$e

• The healthca$e secto$ is often cited as 9eing f$aught 3ith 8ust a9out eve$y economic im+e$fection that is !no3n to human!ind= Can you identify and 9$iefly desc$i9e ONE of these im+e$fections: "o you!no3 of any e am+les:

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ECON 545 ee! 5 "* ) T$ade "e

ficits• hat have 9een some ma8o$ causes of the la$ge U=S= t$ade deficitssince ) ,: hat is a ma8o$ 9enefit #you could add$ess that issue%o$ a ma8o$ cost #o$ you could add$ess that issue% associated 3ith t$ade deficits:

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ECON 545 ee! 5 "* , E chang

e 'ate• "o a little $esea$ch a9out fo$eign e change t$ade$s= It


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ECON 545 ee! F Cou$se 2$o8ect , .ac$oeconomicAnalysis #Situation C%• The .ac$oeconomic 2a+e$ tests you$ a9ility to a++ly economic +$i

nci+les to a 9usiness decision conside$ing the im+act of mac$oeconomic va$ia9les= Select one situation f$om the items outlined 9elo3> A to "= Com+lete the +a+e$ on the selected situation as s+ecified 9elo3= The com+leted +a+e$ is a +$ofessional $e+o$t and is due in ee! F #,F? 2oints%= See the g$ading $u9$ic at the end of this document= ;e su$e to use the "e&$y li9$a$y to find data and avoid 0uestiona9le sou$ces such as i!i+edia=

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ECON 545 ee! F "* ) 7iscal 2olicy

• hat fiscal +olicies a$e $e0ui$ed to fight unem+loyment: hich ones a$e $e0ui$ed to fight inflation: hat a$e some of the do3nside $is!s and +otential +$o9lems involved 3hen using fiscal +olicy:

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ECON 545 ee! F "* , .oneta$

y 2olicy• hat a$e the moneta$y +olicies $e0ui$ed to fight unem+loyment:hat a9out those $e0ui$ed to fight inflation: hat a$e some of thedo3nside $is!s and +otential +$o9lems involved 3hen using moneta$y +olicy:

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ECON 545 ee! G "* ) The 2u9l

ic Secto$• hat is the a++$o+$iate 9alance 9et3een +$ivate and +u9lic #i=e= gove$nment% activity: Thin! of a case 3he$e the gove$nment has inte$vened #o$ it 3as suggested that gove$nment inte$vene% in a +$eviously +$ivate ma$!et #e=g= Ch$ysle$ ta$iffs on Ha+anese lu u$y ca$sthe ai$line indust$y etc%= hat othe$ e am+les can you thin! of: Using a ma$ginal 9enefit/ma$ginal cost analysis su++o$t o$ a$gue against the inte$vention=

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ECON 545 ee! G "* , 7o$ecas

ting• et


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ECON 545 GENIUS Teaching Effectively Econ545geniusdotcom