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    Adelphi University/Devry
    Apr-2000 - Mar-2005

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    Adelphi University
    Sep-2007 - Apr-2017

Category > Economics Posted 02 May 2017 My Price 14.00

ECO 201 Final Project

 

ECO 201 Final Project Guidelines and Rubric

 

Overview

 

The final project for this course is the creation of a research paper. Every day, millions of economic choices are made by people—from what brand of soap to buy to how many employees to hire for a factory. Microeconomics provides us with the tools, models, and concepts to better understand individual choices in the marketplace and how resource allocation is determined at the micro level. The decisions made by individuals and households impact the market and influence decisions made by firms. Firms use these tools as a way to determine pricing, output, and profit maximization. As a student of economics, you can use the microeconomic principles to gain an understanding of how firms and individuals make decisions and also to make your own conclusions about actions we can take to improve those decisions.

 

Now, imagine that you are a consultant to the firm of your choice. The firm has hired you to advise it on how it can ensure its future success as a company in its current market. To do this, you will write a 7–9-page research paper analyzing market and business data to explain how the core microeconomic principles impact the sustainability of the firm and what actions it can take to ensure success.

 

The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Four, and Five. The final submission will occur in Module Seven.

 

In this assignment, you will demonstrate your mastery of the following course outcomes:

 

·      Apply microeconomic models to real-world situations for informing effective business decisions

·      Analyze business and market data using microeconomic tools for their impact on business sustainability

 

·      Evaluate the structure of various markets for informing effective decision-making strategies

 

·      Assess the behavior and decisions of individuals and firms for their relation to the microeconomic framework

 

Prompt

 

You will work with your instructor to choose a firm for which you can find reliable data and information, both at the firm level and the industry level. The firm you select must be a publicly traded company, must operate in the U.S. market, and must currently be in business. You will need instructor approval before continuing on with your research paper in order to ensure you have met the necessary requirements. Publicly traded companies file reports with a great deal of data that you will find useful for your analysis. Once you have selected a firm for your case study, you will gather information and data relevant to the firm and its industry and use the core microeconomic principles you have learned in class to analyze the information and make a recommendation for your firm. You will compose a 7–9-page research paper in which you will analyze the market and business data to explain how the core microeconomic principles impact the sustainability of the firm, and your recommendation will suggest the actions the firm can take to ensure success.


 

Specifically the following critical elements must be addressed:

 

I.          Introduction

 

Work with your instructor to choose a firm that matches the following criteria: a publicly traded company operating in the U.S. market that is currently in business.

a)      Outline the purpose of this paper and how it will inform your conclusion.

b)     Summarize the history of the firm, and provide an overview for what the firm does and what goods/services it sells.

II.         Explore the supply and demand conditions for your firm’s product.

 

a)      Evaluate trends in demand over time, and explain their impact on the industry and the firm. You should consider including annual sales figures for the product your firm sells.

 

b)     Analyze information and data related to the demand and supply for your firm’s product(s) to support your recommendation for the firm’s actions. Remember to include a graphical representation of the data and information used in your analysis.

 

III.        Examine the price elasticity of demand for the product(s) your firm sells.

 

a)      Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity of demand for your firm’s product.

 

b)     Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your guide.

c)      Assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth.

 

IV.    Examine the costs of production for your firm.

a)      Analyze the various costs a firm faces, their trends over time, and how they have impacted your firm’s profitability.

 

b)     Apply the concepts of variable and fixed costs to your firm for informing its output decisions. For instance, analyze how different kinds of costs (labor, research and development, raw materials) affect the firm’s level of output.

V.   Explore the overall market for your firm.

 

a)      Discuss the market share of the firm and its top competitors by providing details on current percentages for each firm and describing the trend over time. You might consider presenting the data graphically.

b)     Analyze the barriers to entry in this market to illustrate the potential for new competition and its impact on your firm’s future in the market.

c)      Describe the market structure for this firm, and analyze how this affects the firm’s ability to influence the market.

VI.    Recommendation

 

a)      Develop a recommendation for how the firm can manage its future production by synthesizing the data presented.

 

b)     Suggest how the firm’s position within the market and among its competitors will allow it to take your recommended action.

 

c)      Describe how the firm can sustain its success going forward by evaluating the findings from demand trends and price elasticity.

 

 

 

 

 

Milestones


 

Milestone One: Introduction

 

In Module Two, you will submit a draft of the introduction (Section I) of your research paper, including all critical elements of Section I as listed above. In one to two pages, you will detail the purpose of the paper, summarize the history of the firm, and provide an overview of the firm. This milestone is graded with the

 

Milestone One Rubric.

 

Milestone Two: Supply and Demand Conditions and Price Elasticity of Demand

 

In Module Four, you will submit a draft of the supply and demand conditions (Section II) and price elasticity of demand (Section III) of your research paper, including all critical elements as listed above for each of those sections. Each of these sections should be one to two pages in length and should incorporate relevant data and supporting evidence. This milestone is graded with the Milestone Two Rubric.

 

Milestone Three: Costs of Production, Overall Market, and Recommendation

 

In Module Five, you will submit a draft of the costs of production (Section IV), overall market (Section V), and recommendation (Section VI) of your research paper, including all critical elements as listed above for each of those sections. Each of these sections should be one to two pages in length and should incorporate relevant data and supporting evidence. This milestone is graded with the Milestone Three Rubric.

 

Final Submission: Research Paper

 

In Module Seven, you will submit your research paper. It should be a complete, polished artifact containing all of the critical elements of the final project. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.

 

Deliverables

 

Milestone

Deliverables

Module Due

Grading

1

Introduction

Two

Graded separately; Milestone One Rubric

 

 

 

 

2

Supply and Demand Conditions and

Four

Graded separately; Milestone Two Rubric

 

Price Elasticity of Demand

 

 

3

Costs of Production, Overall Market,

Five

Graded separately; Milestone Three Rubric

 

and Recommendation

 

 

 

Final Submission: Research Paper

Seven

Graded separately; Final Project Rubric

 

 

 

 


 

Final Project Rubric

 

Guidelines for Submission: Your research paper must be 7 to 9 pages in length (plus a cover page and references) and must be written in APA format. Use double spacing, 12-point Times New Roman font, and one-inch margins. Include at least five references cited in APA format.

 

Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions.

 

Critical Elements

Exemplary (100%)

Proficient (85%)

Needs Improvement (55%)

Not Evident (0%)

Value

Introduction:

Meets “Proficient” criteria and

Outlines the purpose of the

Outlines the purpose of the

Does not outline the purpose of

6.5

Purpose

uses industry-specific language to

paper and how it will inform the

paper, but does not explain how

the paper

 

 

establish expertise

conclusion

it will inform the conclusion

 

 

Introduction: History

Meets “Proficient” criteria, and

Comprehensively summarizes the

Summarizes the history of the

Does not summarize the history

6.5

and Overview

choice of company is well suited

history of the firm and provides

firm and provides an overview for

of the firm or provide an

 

 

to the analysis

an overview for what the firm

what the firm does and what

overview

 

 

 

does and what goods/services it

goods/services it sells, but

 

 

 

 

sells

summary is not comprehensive

 

 

 

 

 

or overview lacks details

 

 

Conditions: Impact

Meets “Proficient” criteria and

Effectively evaluates trends in

Evaluates trends in demand over

Does not evaluate trends in

6.5

 

explains in detail reasons for the

demand over time and explains

time, but evaluation is ineffective

demand over time

 

 

trend

their impact on the industry and

or does not explain their impact

 

 

 

 

the firm

on the industry and firm

 

 

Conditions: Firm’s

Meets “Proficient” criteria and is

Analyzes information and data

Analyzes information and data

Does not analyze information and

6.5

Actions

well qualified with concrete

related to the demand and

related to the demand and

data related to the demand and

 

 

examples

supply for the firm’s product(s) to

supply for the firm’s product(s),

supply for the firm’s product(s)

 

 

 

support recommendation for the

but information and data do not

 

 

 

 

firm’s actions and includes

support recommendation for the

 

 

 

 

graphical representation of data

firm’s actions or do not include

 

 

 

 

and information

graphical representation of data

 

 

 

 

 

and information

 

 

Price Elasticity of

Meets “Proficient” criteria and

Analyzes the available data and

Analyzes the available data and

Does not analyze the available

6.5

Demand: Analyze

uses research to illustrate claims

information and justifies how the

information, but does not justify

data and information to

 

 

 

price elasticity of demand for the

how the price of elasticity of

determine the price elasticity of

 

 

 

firm’s product was determined

demand for the firm’s product

demand

 

 

 

 

was determined

 

 


 

Price Elasticity of

Meets “Proficient” criteria and

Explains the factors that affect

Explains the factors that affect

Does not explain the factors that

6.5

Demand: Consumer

reviews all factors of elasticity

consumer responsiveness to

consumer responsiveness to

affect consumer responsiveness

 

Responsiveness

 

price changes for the product

price changes for the product,

to price changes for the product

 

 

 

using the concept of price

but does not use the concept of

 

 

 

 

elasticity of demand as a guide

price elasticity of demand as a

 

 

 

 

 

guide

 

 

Price Elasticity of

Meets “Proficient” criteria and

Accurately assesses how the price

Assesses how the price elasticity

Does not assess how the price

6.5

Demand: Pricing

uses research to illustrate claims

elasticity of demand impacts the

of demand impacts the firm’s

elasticity of demand impacts the

 

Decisions

 

firm’s pricing decisions and

pricing decisions and revenue

firm’s pricing decisions and

 

 

 

revenue growth

growth, but assessment is

revenue growth

 

 

 

 

inaccurate

 

 

Costs of Production:

Meets “Proficient” criteria and

Analyzes the various costs a firm

Analyzes the various costs a firm

Does not analyze the various

6.5

Profitability

provides concrete examples to

faces, their trends over time, and

faces and their trends over time,

costs a firm faces, their trends

 

 

substantiate claims

how they have impacted the

but does not discuss how they

over time, or how they have

 

 

 

firm’s profitability

have impacted the firm’s

impacted the firm’s profitability

 

 

 

 

profitability

 

 

Costs of Production:

Meets “Proficient” criteria and

Accurately applies the concepts

Applies the concepts of variable

Does not apply the concepts of

6.5

Output Decisions

provides insight into how the firm

of variable and fixed costs to the

and fixed costs to the firm for

variable and fixed costs to the

 

 

can manage those costs

firm for informing its output

informing its output decisions,

firm for informing its output

 

 

 

decisions

but applies concepts inaccurately

decisions

 

Overall Market:

Meets “Proficient” criteria and

Discusses the market share of the

Discusses the market share of the

Does not discuss the market

6.5

Market Share

presents the data graphically and

firm and its top competitors by

firm and its top competitors, but

share of the firm and its top

 

 

over time

providing details on current

does not provide details on

competitors

 

 

 

percentages for each firm and

current percentages for each firm

 

 

 

 

describing the trend over time

or does not describe the trend

 

 

 

 

 

over time

 

 

Overall Market:

Meets “Proficient” criteria and

Analyzes the barriers to entry in

Analyzes the barriers to entry in

Does not analyze the barriers to

6.5

Barriers to Entry

provides specific examples of

this market to illustrate the

this market, but does not

entry in this market

 

 

successful and/or failed entrants

potential for new competition

illustrate the potential for new

 

 

 

into the market

and its impact on the firm’s

competition or its impact on the

 

 

 

 

future in the market

firm’s future in the market

 

 

Overall Market:

Meets “Proficient” criteria and

Describes the market structure

Describes the market structure

Does not describe the market

6.5

Market Structure

provides specific examples to

for this firm and accurately

for this firm, but does not analyze

structure for this firm

 

 

demonstrate the market

analyzes how this affects the

how this affects the firm’s ability

 

 

 

structure and firm’s influence

firm’s ability to influence the

to influence the market or

 

 

 

 

market

analysis is inaccurate

 

 


 

Recommendation:

Meets “Proficient” criteria and

Effectively develops a

Develops a recommendation for

Does not develop a

6.5

Future Production

relates recommendation to the

recommendation for how the

how the firm can manage its

recommendation

 

 

economic principles presented in

firm can manage its future

future production, but

 

 

 

the paper

production by synthesizing the

recommendation is not effective

 

 

 

 

data presented

or is not based on a synthesis of

 

 

 

 

 

the data presented

 

 

Recommendation:

Meets “Proficient” criteria and

Suggests how the firm’s position

Suggests how the firm’s position

Does not suggest how the firm’s

6.5

Recommended

provides advice for how to

within the market and among its

within the market and among its

position within the market and

 

Action

strengthen its position in the

competitors will allow it to take

competitors will allow it to take

among its competitors will allow

 

 

market

the recommended action

the recommended action, but

it to take the recommended

 

 

 

 

suggestions are not appropriate

action

 

Recommendation:

Meets “Proficient” criteria and

Describes how the firm can

Describes how the firm can

Does not describe how the firm

6.5

Sustain its Success

provides specific ideas for how

sustain its success going forward

sustain its success going forward,

can sustain its success going

 

 

the firm can sustain its success

by evaluating the findings from

but does not evaluate the

forward

 

 

 

demand trends and price

findings from demand trends and

 

 

 

 

elasticity

price elasticity in the discussion

 

 

Articulation of

Submission is free of errors

Submission has no major errors

Submission has major errors

Submission has critical errors

2.5

Response

related to citations, grammar,

related to citations, grammar,

related to citations, grammar,

related to citations, grammar,

 

 

spelling, syntax, and organization

spelling, syntax, or organization

spelling, syntax, or organization

spelling, syntax, or organization

 

 

and is presented in a professional

 

that negatively impact readability

that prevent understanding of

 

 

and easy-to-read format

 

and articulation of main ideas

ideas

 

 

 

 

 

Earned Total

100%

 

 

Answers

SmartExpert
(118)
Status NEW Posted 02 May 2017 03:05 PM My Price 14.00

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file 1493740459-Final Project Answer.doc preview (2386 words )
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