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ECO 550 Managerial Economics & Globalization Complete Course



bus 517

Week 1 DQ 1: Managerial Economic Decision Making

From the e-Activity, assess how business leaders use managerial economics to make business decisions indicating how profits may be impacted. Analyze the principal-agent problem to determine how the relationship could be less adversarial. Provide support for your rationale.

 Week 1 DQ 2: Fundamental Economic Concepts

Pick a recently released good or service. Then, determine the factors that must be evaluated regarding the product’s supply and demand. Analyze how these factors impact the decision to supply the product indicating the significance of each in the decision-making process. Using the same product example above, analyzing how the risk tolerance factors play in supplying the good or service and how this should influence management’s decisions

 Week 1 DQ 3 :Economic Judgment

From the e-Activity, explain the most important information you would require on which to base sound economic judgments. Explain your rationale. Assess the various forms of organizing and processing information to determine which is the most difficult to get correct. Explain your rationale

 Week 1 DQ 4 : Transaction Characteristics

Analyze the characteristics that make any transaction possible and justify the importance of each of the characteristics.Evaluate the role institutions play in transactions and discuss the likely economic impact if institutions did not exist. Provide specific examples to support your response.

Chapter 1 (Ex.2, 3, 4) and Chapter 2 (Ex.1, 5, 6)
Chapter Questions


Week 2

Week 2 DQ 1 : Demand Analysis

From the e-Activity, if you were a manager in a tobacco company, analyze the elasticity of demand for tobacco products. Evaluate the factors involved in making decisions about pricing tobacco products indicating which would be the most influential. Using the same scenario above, discuss how the elasticity influence the short-term and long-term decisions of the company and the impact to the decision made related to profitability.

 Week 2 DQ 2 : Estimating Demand

Provide an example when it would be appropriate to conduct a time-series or cross sectional data. Discuss the potential problems that may arise with your example and identify strategies for minimizing the impact of the potential problems. Discuss the meaning of the regression coefficient of the independent variable(s) and how it could be used to estimate the elasticities of each of these variables. Discuss how managers use the elasticities measurements to make managerial decisions.

 Week 2 DQ 3 : Market & Price Control

Analyze how markets work and make recommendations for or against any form of price control. Explain your rationale

 Week 2 DQ 4 : Globalization

Evaluate the impact of globalization on domestic governance. Identify and explicate at least three significant factors requiring domestic changes.

Chapter 1 and 2 Quiz 1
Chapter Questions
Week 2, Quiz 1 (Set 1)
Week 2, Quiz 1 (Set 2)


Week 3

 Week 3 DQ 1: Business and Economic Forecasting

 From the e-Activity, develop a regression equation using the data you collected from your research. Use the regression equation to focus the demand for the product you chose for the next three periods. Assess what the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitability. Imagine you are a manager for the good or service used above. From the results of the regression equation, suggest strategies to either maintain demand (if an increase over three periods occurs) or improve demand (if a decrease over three periods occurs). Provide support for your recommendations

 Week 3 DQ 2: Managing in the Global Economy

Evaluate the relationship between the European Euro crisis in 2012 and the American economy. Assess how this affects American businesses and decisions made by mangers related to sustainable profitability. Provide examples with your response. Aside from maximizing profits, assess the factors that managers must consider when making the decision to outsource or integrate forwards or backwards considering which factor would be most influential for decision-making.

 Week 3 DQ 3: Competitiveness in Marketplace

From the e-Activity, discuss how the company you selected should increase its competitive stance in the marketplace. Provide specific examples to support your response.

Determine how a perfectly competitive firm can maximize its profit by producing the output at which average cost is minimized.

 Week 3 DQ 4 : Setting Prices of Products

Imagine monopolizing a service or product of your choice. Discuss how you would go about setting prices for your product or service.

Select a non-monopolized product or service with which you are familiar and determine how the consumption of that product or service would differ if it were controlled by a monopoly.

Assignment 1 – Demand Estimation (Two Equations)
QD = – 5200 GÇô 42P + 20C + 5.2(I) + 0.20(A) + 0.25(M)QD = – 5200 – 42P + 20C + 5.2(I) + 0.20(A) + 0.25(M)
QD = 20,000 – 10P + 1500A + 5PX + 10 I)
Qd = – 5200 – 42P + 20PX + 5.2I + .20A + .25M)
Qd = – 5200 – 42P + 20PX + 5.2I + .20A + .25M)
QD = 20,000 – 10P + 1500A + 5PX + 10 I)
Chapter 3 and 4 Quiz 2
Chapter 5 and 6 


Week 4

 Week 4 DQ 1: Production Economics

From the e-Activity, determine the environmental variable most likely to affect the short-run production over the next 12 months. Determine what managers can do to prepare for the possible change in short-run production. Pick a real or fictitious business. Create a scenario around this business in which a manager would decide to either stop operations in the short-run or going out of business in the long-run. Provide a rationale with your response

 Week 4 DQ 2: Cost Analysis

Pick a good or service. Distinguish between the short-run and the long-run production and cost function for that good or service. Discuss how price plays a role in short-run and the long-run decisions and how managers are likely to respond in each case. Using the same good or service from above Identify the fixed and variables costs are for the good or service. Based upon the costs identified, recommend whether to produce or not produce the good or service. Provide a rationale with your response

 Week 4 DQ 3: Describe an oligopoly company and explain what makes it so.

An Oligopoly company is a company with a market dominated by a small number of participants who are able to collectively exert control over supply and market prices. The oligopoly company is thus able to use its power base in one industry to increase its profits in other industries.

Assume that a very competitive start-up enters the market in direct competition with the oligopoly you describe initially gaining a 12% market share. Discuss the steps the oligopoly should take to address this new competition.

 Week 4 DQ 4 : Price Fixing

Discuss a scenario where price fixing is beneficial to all parties involved

ECO 550 Chapter 5 and 6, Quiz 3
ECO 550 Chapter 7 and 8
ECO 550 Week 4, Chapter 7


Week 5

Week 5 DQ 1: Applications of Cost Theory

Imagine you are a manager of a chemical company. An accident has occurred in which chemicals leaked into the ground water nearby, the community is unaware. Assess the costs involved in cleaning up the water immediately (confessing) versus hiding the fact and possibly paying more in the future. Discuss the impact on profitability in both situations. From the first e-Activity, assess the factors involved in conducting a break-even analysis. Determine the conditions that may exist for a manager of this good or service may decide to move forward with operations even with the initial costs of operations is more than the potential revenue

 Week 5 DQ 2: Prices, Output and Strategy

Pick a good or service you are familiar. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should made in its pricing strategy. Provide support for your recommendations. From the second e-Activity, discuss how the company you selected should increase its competitive stance in the marketplace and how management would implement the recommendations. Provide specific examples to support your response

 Week 5 DQ 3 : Competitive Forces

From the e-Activity, explicate the five competitive forces that shape strategy. Then, determine which of the five competitive forces has the most significant impact on strategy in general. Support your response with evidence or examples. 

 Week 5 DQ 4 : Merger Agreements

With the same small business from the first discussion in mind, describe the best possible merger or agreement to grow your company and maximize profits. Explain your rationale.

Again, with the same company in mind, discuss the most effective way to sustain and extend a competitive advantage. Provide specific examples to support your response.

ECO 550 Chapter 9 and 10
ECO 550 Chapter 8 Questions

Midterm Exam

1. A change in the level of an economic activity is desirable and should be undertaken as long as the marginal benefits exceed the ____.
2. The level of an economic activity should be increased to the point where the ____ is zero.
3. The ____ is the ratio of ____ to the ____.
4. The standard deviation is appropriate to compare the risk between two investments only if
5. The approximate probability of a value occurring that is greater than one standard deviation from the mean is approximately (assuming a normal distribution)
6. An closest example of a risk-free security is
7. In the shareholder wealth maximization model, the value of a firm’s stock is equal to the present value of all expected future ____ discounted at the stockholders’ required rate of return.
8. The form of economics most relevant to managerial decision-making within the firm is:
9. Shirking of one’s duties is often encountered in team production settings because
10. A Real Option Value is
11. Economic profit is defined as the difference between revenue and ____.
12. The Saturn Corporation (once a division of GM) was permanently closed in 2009.  What went wrong with Saturn?
13. An income elasticity (Ey) of 2.0 indicates that for a ____ increase in income, ____ will increase by ____.
14. An increase in each of the following factors would normally provide a subsequent increase in quantity demanded, except
15. Which of the following would tend to make demand INELASTIC
16. When demand elasticity is ____ in absolute value (or ____), an increase in price will result in a(n) ____ in total revenues.
17. Songwriters and composers press music companies to lower the price for music downloads because.
18. A price elasticity (ED) of −1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____.
19. If demand were inelastic, then we should immediately:
20. The standard deviation of the error terms in an estimated regression equation is known as:
21. In testing whether each individual independent variables (Xs) in a multiple regression equation is statistically significant in explaining the dependent variable (Y), one uses the:
22. When two or more “independent” variables are highly correlated, then we have:
23. One commonly used test in checking for the presence of autocorrelation when working with time series data is the ____.
24. Even though insignificant explanatory variables can raise the adjusted R2 of a demand function, one    should not interpret their effects on the regression when
25. All of the following are reasons why an association relationship may not imply a causal relationship except:


ECO 550 MIDTERM EXAM 2

1. Income tax payments are an example of ____.
2. The moral hazard in team production arises from
3. Which of the following will increase (V0), the shareholder wealth maximization model of the
4. In the shareholder wealth maximization model, the value of a firm’s stock is equal to the present value of all expected future ____ discounted at the stockholders’ required rate of return.
5. Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women.  The new frequency recommendation was designed to address the family histories of the patients.  The optimal frequency should be where the marginal benefit of an additional pap-test,
6. The flat-screen plasma TVs are selling extremely well.  The originators of this technology are earning higher profits.  What theory of profit best reflects the performance of the plasma screen makers?
7. An closest example of a risk-free security is
8. A change in the level of an economic activity is desirable and should be undertaken as long as the marginal benefits exceed the ____.
9. The primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are:
10. Based on risk-return tradeoffs observable in the financial marketplace, which of the following securities would you expect to offer higher expected returns than corporate bonds?
11. The ____ is the ratio of ____ to the ____.
12.The level of an economic activity should be increased to the point where the ____ is zero.
13. The factor(s) which cause(s) a movement along the demand curve include(s):
14. Iron ore is an example of a:
15. Suppose we estimate that the demand elasticity for fine leather jackets is .7 at their current prices.  Then we know that:
16. Producers’ goods are:
17. When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure.
18. When demand elasticity is ____ in absolute value (or ____), an increase in price will result in a(n) ____ in total revenues.
19. A price elasticity (ED) of −1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____.
20. The method which can give some information in estimating demand of a product that hasn’t yet come to market is:
21. When using a multiplicative power function (Y = a X1b1 X2b2 X3b3) to represent an economic relationship, estimates of the parameters (a, and the b’s) using linear regression analysis can be obtained by first applying a ____ transformation to convert the function to a linear relationship.
22. In regression analysis, the existence of a significant pattern in successive values of the error term constitutes:
23. Even though insignificant explanatory variables can raise the adjusted R2 of a demand function, one    should not interpret their effects on the regression when
24. The estimated slope coefficient (b) of the regression equation (Ln Y = a + b Ln X) measures the ____ change in Y for a one ____ change in X
25. The Identification Problem in the development of a demand function is a result of:


ECO 550 Midterm Exam 3

1. Possible goals of Not-For-Profit (NFP) enterprises include all of the following EXCEPT:
2. The primary objective of a for-profit firm is to ___________.
3. Income tax payments are an example of ____.
4. Economic profit is defined as the difference between revenue and ____.
5. A change in the level of an economic activity is desirable and should be undertaken as long as the marginal benefits exceed the ____.
6. The standard deviation is appropriate to compare the risk between two investments only if
7. The level of an economic activity should be increased to the point where the ____ is zero
8. The net present value of an investment represents
9. An income elasticity (Ey) of 2.0 indicates that for a ____ increase in income, ____ will increase by ____.
10. A price elasticity (ED) of −1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____.
11. Marginal revenue (MR) is ____ when total revenue is maximized
12. An increase in each of the following factors would normally provide a subsequent increase in quantity demanded, except:
13. When using a multiplicative power function (Y = a X1b1 X2b2 X3b3) to represent an economic relationship, estimates of the parameters (a, and the b’s) using linear regression analysis can be obtained by first applying a ____ transformation to convert the function to a linear relationship
14. The method which can give some information in estimating demand of a product that hasn’t yet come to market is:
15. When two or more “independent” variables are highly correlated, then we have:
16. One commonly used test in checking for the presence of autocorrelation when working with time series data is the ____.
17. Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example?
18. Time-series forecasting models:
19. The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as:
20.  Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?
21. The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time
22. If the British pound (₤) appreciates by 10% against the dollar:
23.  Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to
24. Using demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES would
25. Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____.


ECO 550 MIDTERM EXAM 4

1. Economies of Scope refers to situations where per unit costs are
2. For a short-run cost function which of the following statements is (are) not true?
3. According to the theory of cost, specialization in the use of variable resources in the short-run results initially in:
4. Economies of scale exist whenever long-run average costs:
5. The existence of diseconomies of scale (size) for the firm is hypothesized to result from:
6. If TC = 321 + 55Q – 5Q2, then average total cost at Q = 10 is:
7. Using demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES would
8. An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?
9. In a recession, the trade balance often improves because
10.  The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time
11. Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to
12. The import of Apple iPads assembled in Shanghai at a $295 wholesale price ($213 cost and $82 profit margin) adds more than it should to the U.S. trade deficit with China because
13. Trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because
14. Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____.
15. The marginal product is defined as:
16. The isoquants for inputs that are perfect complements for one another consist of a series of:
17. The primary purpose of the Cobb-Douglas power function is to:
18. Given a Cobb-Douglas production function estimate of Q = 1.19L.72K.18 for a given industry, this industry would have:
19. In a production process, an excessive amount of the variable input relative to the fixed input is being used to produce the desired output. This statement is true for:
20. An example of a time series data set is one for which the:
21. Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast
22. For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use?
23. Time-series forecasting models:
24. The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as:

………………………………………………………………………………………………………
Also Includes  More Questions and solutions

 
SET 5 = 25 Questions and Answers
SET 6 = 25 Questions and Answers
SET 7 = 25 Questions and Answers
SET 8 = 25 Questions and Answers
SET 9 = 25 Questions and Answers
SET 10 = 25 Questions and Answers
SET 11 = 25 Questions and Answers
SET 12 = 25 Questions and Answers


Week 6Week 6 DQ 1: Monopolies

From the first e-Activity, imagine this company acting as a monopoly was to have a new competitor arrive in the marketplace. Assess how the monopoly would likely change its pricing strategy to compensate for the new competition.

From the first e-Activity, speculate how the monopolist could be more efficient in the long-run considering new competition has entered the marketplace

 Week 6 DQ 2 : Oligopoly

From the second e-Activity, assess the marketing and pricing strategies, for example rebates, to determine the goal(s) of the marketing and pricing strategies for one of the companies you researched. Make one recommendation for changes that the company should make to better maximize profits. The Internet has made shopping for airline tickets efficient for the consumer. As a result, the industry overall is price sensitive. Suggest how the airlines can maximize profits while avoiding price wars.

 Week 6 DQ 3: The Economics of Contracts

From the e-Activity, discuss ways that one party or the other could leverage a specific “opportunism.” Provide specific examples to support your response.Discuss a situation in which both parties entering into a contract could benefit from slightly ambiguous language contained in the contract. Provide specific examples to support your response.

 Week 6 DQ 4: Property and Contracts

Analyze the various ways in which property rights encourage economic development and make at least one recommendation for improving current laws. Explain your rationale.Based on the possible beneficial externalities from college education, argue for whether or not a case exists for public funding of college education. Explain your rationale.

ECO 550 Assignment 2: Operations Decisions (Two Equations)
QD = 20,000 – 10P + 1500A + 5PX + 10I
QD = – 5200 – 42P + 20C + 5.2(I) + 0.20(A) + 0.25(M)
ECO 550 Chapter 8 Quiz 4
ECO 550 Chapter 11 and 12
ECO 550 Chapter Questions


Week 7Week 7 DQ 1: Game Theory

Please respond to the following: • Demand for airline tickets fluctuates throughout the year, which affects the price of an airline ticket. Suggest the type of game that may be most appropriate for a specific airline to play to address the differences in demand and elasticity and the resulting impact on profitability. Provide support for your reply. • From the first e-Activity, propose a short-term and long-term pricing strategy for the product or service you researched including how the strategies would be implemented. Assess how your proposal ultimately maximizes profits

 Week 7 DQ 2: Pricing Techniques

From the second e-Activity, propose the new target market segment for the product and its accompanying pricing strategy (for example, bundling and couponing). Provide a rational for why you feel the new target market and pricing strategy would be successful and the likely impact to the profitability of the firm. The pharmaceutical industry often has the luxury of implementing pricing strategies that appear high to consumers. Take a position on the fairness of the industry’s approach to pricing pharmaceutical products including offering an alternative strategy that may be more palatable to consumers. Provide a rationale with your position

 Week 7 DQ 3 :Target Market Secgment

Propose the new target market segment for the product and its accompanying pricing strategy (for example, bundling and couponing). Provide a rational for why you feel the new target market and pricing strategy would be successful and the likely impact to the profitability of the firm.

 Week 7 DQ 4 : Pharmaceutical Pricing

 The pharmaceutical industry often has the luxury of implementing pricing strategies that appear high to consumers. Take a position on the fairness of the industry’s approach to pricing pharmaceutical products including offering an alternative strategy that may be more palatable to consumers. Provide a rationale with your position.

ECO 550 Chapter 9 and 10, Quiz 5
ECO 550 Chapter 13 and 14
ECO 550 Chapter Questions


Week 8

 Week 8 DQ 1: Contracting

From the e-Activity, propose a methodology for assessing the risk in business contracts. Assess the economic impact this methodology may have for the organization. Analyze a situation in which both parties entering into a contract could benefit, economically or otherwise, from slightly ambiguous language contained in the contract. Provide specific examples to support your response.

 Week 8 DQ 2: Organization Form

Analyze the potential downfalls of any team effort and make at least one recommendation for minimizing risk. Provide specific examples to support your response. Evaluate the organization form that would be most efficient in minimizing the principal-agent problem. Provide a rationale with your response

 Week 8 DQ 3: Organization Form

Analyze the potential downfalls of any team effort and make at least one recommendation for minimizing risk. Provide specific examples to support your response.

 Week 8 DQ 4: Contracting

From the e- Activity, propose a methodology for assessing the risk in business contracts. Assess the economic impact this methodology may have for the organization.

ECO 550 Chapter 11 and 12, Quiz 6
ECO 550 Chapter 15 Problems 2, 5, 6
ECO 550 Chapter 13 and 14


Week 9

 Week 9 DQ 1 : Government Regulation

From the e-Activity, take a position on whether more government regulation is needed in the banking industry. Support your position with evidence or examples. Provide an example of how government regulation is either constraining or enabling for a particular company indicating the impact to the operational efficiency of the company. Discuss how your response impacts maximizing shareholder wealth

 Week 9 DQ 2 : Antitrust and Licensing

Imagine how managerial decisions may be easier or more difficult if there were no antitrust restrictions in the U.S. Provide an example to support your response. The IT industry is full of patents. There are some companies, referred to as patent trolls, whom purchase these patents in hopes of making money by enforcing patents against alleged infringers. Determine the impact of government regulation against patent trolls. Identify who wins and who loses if regulation was adopted

ECO 550 Assignmetn 3: Long Term Investment Decisions
QD = 20,000 – 10P + 1500A + 5PX + 10I
ECO 550 Chapter 15 and 16
ECO 550 Chapter 13 and 14, Quiz 7
ECO 550 Chapter 16


Week 10

Week 10 DQ 1 : Capital Investments

With the current U.S. economy in a weakened state, many companies are reluctant to implement any capital improvements or capital expenditures in fear of the economic uncertainty that exists that may negatively impact the cashflow of the organization. Assess the impact of this behavior on productivity, cost efficiency, diversification of assets, or impact to future cashflows that may emerge if companies continue this mindset indicating the long-term risk to profitability. Provide an example or scenario to support your response. Analyze the challenges that companies face in entering global markets. Identify the potential impact to capital budgets in making the decision to move into a global market

 Week 10 DQ 2 : Cost-Benefit Analysis

Provide a cost-benefit analysis for a company which has to decide whether to hire more staff or hire temporary workers to meet production.schedules. Determine how managers would use your cost-benefit analysis to make this decision. Conduct a cost-benefit analysis of obtaining a graduate degree. Assess both the short-term and the long-term costs and benefits to determine why some people obtain the extra education while others do not

 Week 10 DQ 3: Bargaining Outcomes and Individual Preferences

Bargaining outcomes in a market-related situation are in general indeterminate and not obvious to the parties in the negotiation. Develop a bargaining situation from which you would conclude that access to market-related information does in fact affect the outcomes. 

Using specific examples, evaluate the difficulty of accurately eliciting people’s preferences for public goods.

 Week 10 DQ 4: Public versus Private Goods

Please respond to the following:  Compare the feasibility and efficiency of producing public goods by tax dollars versus producing them jointly with private funds. Support your argument with specific examples.

Speculate about why people in higher income groups vote for reasons that are borne out of a sense of duty rather than from economic interests.  

Effectiveness of Producing Public Goods

ECO 550 Assignment 4 – Automotive Production Levels
ECO 550 Chapter 15 and 16, Quiz 8
ECO 550 Chapter 17 (Problems 1, 5, 9c)
ECO 550 Chapter 17 Questions 9 and 12

 



Week 11

ECO 550 Final Exam
 
12 Sets (500 Questions and Answers)
SET 1 (36 Question and Answer)
SET 2 (30 Question and Answer)
SET 3 (36 Question and Answer)
SET 4 (36 Question and Answer)
SET 5 (25 Question and Answer)
SET 6 (50 Question and Answer)
SET 7 (50 Question and Answer)
SET 8 (50 Question and Answer)
SET 9 (50 Question and Answer)
SET 10 (50 Question and Answer)
SET 11 (50 Question and Answer)
SET 12 (25 Question and Answer)

 

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