ECN 601 Grand Canyon Entire Course (January 2016)
ECN 601 Grand Canyon Entire Course (January 2016)
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ECN 601 Grand Canyon Entire Course (January 2016)
ECN601
ECN 601 Grand Canyon Week
1 Discussion 1 (January 2016)
The price of gasoline goes
up and down quickly, yet consumer demand for gasoline stays relatively steady.
Does this mean the demand for gasoline is inelastic, or is something else at
work? Explain.
ECN 601 Grand Canyon Week
1 Discussion 2 (January 2016)
Of the factors listed in
the textbook that are related to demand, identify 1 or 2 that were instrumental
in your selection of a University in which to enroll for an MBA. Do you think
your decision criteria are typical or atypical? Explain.
ECN 601 Grand Canyon Week
2 Discussion 1 (January 2016)
Selecting a complete set
of independent variables is always an issue when using regression analysis to
estimate demand. For example, analysts often use price and advertising to
estimate quantity demanded. However, how do they know that these two variables
were sufficient? How do we know that we didn’t omit other variables which would
have had a significant impact on demand? How do we know that we didn’t include
variables that were not needed? Explain how analysts would answer such
questions.
ECN 601 Grand Canyon Week
2 Discussion 2 (January 2016)
Suppose you want to use
regression analysis to estimate the selling price of single family homes in a
given neighborhood. You assemble data on selling price, square footage, number
of bedrooms, number of bathrooms, age of the house, and lot size. Which
variable(s) are dependent? Which are independent? For each independent variable
you listed, indicate whether you would expect the sign of that variable to be
positive or negative, and why.
ECN 601 Grand Canyon Week
3 Discussion 1 (January 2016)
Chapter 5 opened with a
discussion of the fast food industry. Identify how the Law of Diminishing
Marginal Returns set in for the production process, and how management
responded to this situation.
ECN 601 Grand Canyon Week
3 Discussion 2 (January 2016)
In the case discussion
that opens chapter 6, Steve Jobs indicated that Apple would continue to
assemble iPhones in China, despite the fact that only a small portion of the
cost of an iPhone was labor expense. What was behind Apple’s decision? Do you
agree with it?
ECN 601 Grand Canyon Week
4 Discussion 1 (January 2016)
Public utilities are
usually identified as monopolies. With whom does Arizona Public Service, the
electric utility in metro Phoenix, compete? Are they the only provider in their
marketplace?
ECN 601 Grand Canyon Week
4 Discussion 2 (January 2016)
What characteristic(s) of
oligopoly make their prices and output levels “sticky?” Does this make the
firms more risky or less risky?
ECN 601 Grand Canyon Week
5 Discussion 1 (January 2016)
Identify a type of price
discrimination that you have experienced. Was it first, second, or third
degree? Explain the transaction in sufficient detail to justify your
classification.
ECN 601 Grand Canyon Week
5 Discussion 2 (January 2016)
What characteristic(s) of
oligopoly make their prices and output levels “sticky?” Does this make the
firms more risky or less risky?
ECN 601 Grand Canyon Week
6 Discussion 1 (January 2016)
Do you think the MPC has
risen or fallen since the recession of 2008-2009? Explain your reasoning.
ECN 601 Grand Canyon Week
6 Discussion 2 (January 2016)
The text identified three
goals of macroeconomic policy:
- Minimize
unemployment
- Minimize
inflation
- Maximize
economic growth
Obviously, these goals
have elements that conflict with one another. Which do you think we are doing
the best job of accomplishing in the U.S. currently, and which do you think
should receive greater priority? Explain, and cite relevant statistics on the
economy’s performance where possible.
ECN 601 Grand Canyon Week
7 Discussion 1 (January 2016)
In the early stage of her
administration, Fed Chair Janet Yellen focused on maintaining a monetary policy
of low interest rates to continue the Fed’s efforts to stimulate the economy.
However, the article assigned indicates she faces some longer-term challenges.
Identify one of these challenges, and describe what the article said about the
interaction between Fed policy and this issue. What do you think she should do
with regard to the issue you identified?
ECN 601 Grand Canyon Week
7 Discussion 2 (January 2016)
Economists believe that
the current values of the deposit multiplier and the money multiplier are
widely divergent. Why might these values differ at present? What (if anything)
do you think must happen for them to converge once again?
ECN 601 Grand Canyon Week
8 Discussion 1 (January 2016)
The U.S. has historically
low interest rates at present. How would you predict these would impact the
value of the dollar on foreign exchange markets? How, in turn, would these low
interest rates impact our balance of trade? Explain your answers.
ECN 601 Grand Canyon Week
8 Discussion 2 (January 2016)
Why would nations favor
fixed vs. floating exchange rates for their currencies? Why do some developing
nations have a “fear of the float?”
ECN 601 Grand Canyon Week
1 Benchmark Assignment (January 2016)
Details:
Complete the following:
1- Chapter
2, Technical Questions 3 and 5 in the textbook.
2- Chapter
2, Application Question 2 in the textbook.
3- Chapter
3, Technical Question 1 in the textbook.
4- Chapter
3, Application Question 1 in the textbook.
Follow these instructions
for completing and submitting your assignment:
1- Place
all answers, both numerical and written, in a single excel spreadsheet.
2- Place
each problem into a separate tab or sheet in an Excel file.
3- Place
labels on spreadsheet inputs and outputs, and use the yellow highlighter on the
top menu bar to highlight your final answer.
4- If
the question incorporates graphs, you must replicate the graph on your
spreadsheet file.
5- Do
not submit Word files or multiple files for a single assignment.
You are not required to
submit this assignment to Turnitin.
ECN 601 Grand Canyon Week
2 Assignment (January 2016)
Chapter 4 Problems
Details:
Complete the following:
1- Chapter
4, Technical Question 3 in the textbook.
2- Chapter
4, Application Question 3 in the textbook.
3- Complete
the “ECN-601 Extended Problem” attached to the assignment. Use the data
provided in “ECN-601 Extended Problem Data” to complete the problem.
Follow these instructions
for completing and submitting your assignment:
1- Place
all answers, both numerical and written, in a single excel spreadsheet.
2- Place
each problem into a separate tab or sheet in an Excel file.
3- Place
labels on spreadsheet inputs and outputs, and use the yellow highlighter on the
top menu bar to highlight your final answer.
4- If
the question incorporates graphs, you must replicate the graph on your
spreadsheet file.
5- Do
not submit Word files or multiple files for a single assignment.
You are not required to
submit this assignment to Turnitin.
ECN 601 Grand Canyon Week
3 Assignment (January 2016)
Chapter 5 and 6 Problems
Details:
Complete the following:
1- Chapter
5, Technical Questions 1, 3, and 5 in the textbook.
2- Chapter
6, Technical Question 3 in the textbook.
3- Chapter
6, Application Question 3 in the textbook.
Follow these instructions
for completing and submitting your assignment:
1- Place
all answers, both numerical and written, in a single excel spreadsheet.
2- Place
each problem into a separate tab or sheet in an Excel file.
3- Place
labels on spreadsheet inputs and outputs, and use the yellow highlighter on the
top menu bar to highlight your final answer.
4- If
the question incorporates graphs, you must replicate the graph on your
spreadsheet file.
5- Do
not submit Word files or multiple files for a single assignment.
You are not required to
submit this assignment to Turnitin.
ECN 601 Grand Canyon Week
4 Assignment (January 2016)
Chapter 7 and 8 Problems
Details:
Complete the following:
1- Chapter
7, Technical Questions 3 and 5 in the textbook.
2- Chapter
7, Application Questions 3 and 5 in the textbook.
3- Chapter
8, Technical Questions 3 and 7 in the textbook.
Follow these instructions
for completing and submitting your assignment:
1- Place
all answers, both numerical and written, in a single excel spreadsheet.
2- Place
each problem into a separate tab or sheet in an Excel file.
3- Place
labels on spreadsheet inputs and outputs, and use the yellow highlighter on the
top menu bar to highlight your final answer.
4- If
the question incorporates graphs, you must replicate the graph on your
spreadsheet file.
5- Do
not submit Word files or multiple files for a single assignment.
You are not required to
submit this assignment to Turnitin.
ECN 601 Grand Canyon Week
5 Assignment (January 2016)
Chapter 9 and 10 Problems
Details:
Complete the following:
1- Chapter
9, Technical Questions 1, 3, and 5 in the textbook.
2- Chapter
10, Technical Questions 3 and 7 in the textbook.
Follow these instructions
for completing and submitting your assignment:
1- Place
all answers, both numerical and written, in a single excel spreadsheet.
2- Place
each problem into a separate tab or sheet in an Excel file.
3- Place
labels on spreadsheet inputs and outputs, and use the yellow highlighter on the
top menu bar to highlight your final answer.
4- If
the question incorporates graphs, you must replicate the graph on your
spreadsheet file.
5- Do
not submit Word files or multiple files for a single assignment.
You are not required to
submit this assignment to Turnitin.
ECN 601 Grand Canyon Week
6 Assignment (January 2016)
Chapter 11 and 12 Problems
Details:
Complete the following:
1- Chapter
11, Technical Question 7 in the textbook.
2- Chapter
11, Application Question 3 in the textbook.
3- Chapter
12, Technical Questions 3 and 5 in the textbook.
4- Chapter
12, Application Question 1 in the textbook.
Your explanation for
Application Question 1 should include (1) the component of GDP that is affected
by each of these changes and (2) whether the change indicated will raise or
lower GDP.
Follow these instructions
for completing and submitting your assignment:
1- Place
all answers, both numerical and written, in a single excel spreadsheet.
2- Place
each problem into a separate tab or sheet in an Excel file.
3- Place
labels on spreadsheet inputs and outputs, and use the yellow highlighter on the
top menu bar to highlight your final answer.
4- If
the question incorporates graphs, you must replicate the graph on your
spreadsheet file.
5- Do
not submit Word files or multiple files for a single assignment.
You are not required to
submit this assignment to Turnitin.
ECN 601 Grand Canyon Week
7 Assignment (January 2016)
Chapter 13 and 14 Problems
Details:
Complete the following:
1- Chapter
13, Technical Questions 1, 3, and 5 in the textbook.
2- Chapter
13, Application Question 1 in the textbook.
3- Chapter
14, Application Question 1 in the textbook.
Follow these instructions
for completing and submitting your assignment:
1- Place
all answers, both numerical and written, in a single excel spreadsheet.
2- Place
each problem into a separate tab or sheet in an Excel file.
3- Place
labels on spreadsheet inputs and outputs, and use the yellow highlighter on the
top menu bar to highlight your final answer.
4- If
the question incorporates graphs, you must replicate the graph on your
spreadsheet file.
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