ECO 415 Complete Course

Week 1

Individual Basic Concepts Paper

Resource: Supply and Demand simulation located on your student website

Write a 1,050- to 1,400 word paper that discusses basic concepts in applied economics in the context of the simulation. Answer the following questions in the paper:

How do changes in the business environment cause changes in supply and demand? Cite and explain at least two examples from the simulation.

Why is marginal analysis used when making business decisions? How is marginal analysis used to respond to shifts in supply and demand? Cite and explain at least one example from the simulation.

How did your team determine appropriate output levels in the simulation? Cite at least two examples. Were your teams output decisions successful? If so, explain specifically how your decision making process led to financial success. If not, identify any mistakes and explain what your team could have done differently.

What fixed and variable costs does the operating company in the simulation have? Cite at least two examples for each.

Describe a market situation in which the operating company faces economic difficulties and the need to cut costs. What cost cutting strategies might the operating company use to remain profitable? What would be the benefits and drawbacks of each?

Format your paper consistent with APA guidelines.

Discussion Questions

Why do you believe that it is important for managers to understand both short run and long run supply and demand? Cite one hypothetical or real life example that illustrates your response.

Under what circumstances would it be appropriate to resort to plant closings or layoffs? Develop a guideline and explain how it may help a manager make this type of decision.

Week 2

Learning Team Maximizing Profits Within Markets Paper

Select one of the following companies:

Pepsi-Cola Company

Wal-Mart Stores, Inc.

Lowes

Starbucks Coffee Company

Barnes & Noble

Amazon.com, Inc.

Hewlett Packard Development Company, L.P.

Dell, Inc.

The Walt Disney Company

Microsoft

Write a 1,750- to 2,450-word paper:

Summarize the differences between the four market types.

Provide a general explanation of how business may maximize profit within each market type.

Identify the market type in which the selected business exists.

Explain how this market type affects the selected businesss ability to maximize profits.

Determine the optimal profit maximizing strategy for the selected business within its given market type.

Explain specifically how this strategy may be used to maximize profits within the given market type.

Format your paper consistent with APA guidelines.

Discussion Questions

In what market type would you most prefer to manage a business? Explain why. What skills do you have that would allow you to be especially successful in this market type? In what market type would it be most difficult for you to manage a business? What is it about the competition within this market type that would make success a challenge?

How would you characterize the competition (market structure) in the restaurant industry? Are there submarkets? If so, do these submarkets have distinct competitive pressures? How may a restaurant maximize profits?

Week 3

Individual Lets Talk Money Interview Transcript

Create a 1,050- to 1,400-word fictitious dialogue that takes place during a segment of Lets Talk Money, a fictitious TV talk show that interviews prominent individuals in the business community. During the segment, the shows host, a government official, and a business savvy CEO discuss the relationship between the government, the economy, and the company selected from the following list:

Pepsi-Cola Company

Wal-Mart Stores, Inc.

Lowes

Starbucks Coffee Company

Barnes & Noble

Amazon.com, Inc.

Hewlett Packard Development Company, L.P.

Dell, Inc.

The Walt Disney Company

Microsoft

Note: You may use a company with which you are familiar as a substitute.

Use your creativity with this dialogue and develop the points of view of the characters involved. The following questions must be addressed and serve as a basis for grading this assignment:

In what type of situations might the selected company run a high risk of violating antitrust laws? How might the government react to assure fair competition within the companys given market?

In what ways might the selected company create a benefit externality? In what ways might it create a cost externality? How might the government respond to the externalities created by the selected company?

What is the importance of the government as a buyer in a market economy? Explain from both a governmental and a business perspective.

In what ways might the selected company do business with the government? From the companys perspective, what might be the benefits and drawbacks of selling to the government? From the governments perspective, what might be the benefits and drawbacks of buying from the company?

In what situation would the selected company likely consider a merger with one of the other companies on the list? What risks and benefits would a possible merger present? How might the government respond to the merger? Would the two companies merge? Explain why or why not.

Learning Team Reflection on Weeks 1 and 2

Discuss with your team the topics from weeks one and two readings and class discussions that you are comfortable with, the topics that you struggled with, and how the weekly topics relate to your professional or personal lives.

Write a 500 - 700 word paper detailing the findings of your discussion

Discussion Questions

Although most people agree that the governments role in the free market economy should be limited, the degree of appropriate government involvement is contested. Under what circumstances should the government bailout a failing business? Explain and cite a specific example to illustrate your reasoning.

Some people might argue that the reason the government has to manage cost and benefit externalities is that people are basically selfish. Explain the reasoning of that statement. Do you agree or disagree? Explain why.

Week 4

Individual Hello, Im Your Motivational Speaker

You are renowned business guru and motivational speaker Mai Biz. You have been contracted by a prestigious national business organization to deliver a two part seminar on a couple of todays hottest business topics: competitive advantage and international business.

Create a full 1,750- to 2,100-word transcript of your planned speech to meet the organizations request.

Address the following questions for each topic:

Topic 1: Achieving Competitive Advantage

How does the creation of value lead to competitive advantage?

How may a firm achieve competitive advantage? Consider strategies of cost leadership, benefit leadership, and degrees of focus.

How does the price elasticity of demand affect a firms strategic positioning for competitive advantage?

What factors and strategies allow a firm to sustain competitive advantage? Cite at least one real life example of success and one real life example of failure in your explanation.

Topic 2: International Business

What additional risks do multinational corporations face, and what additional opportunities do they enjoy when compared with domestic firms?

What strategies may a multinational corporation use to best take advantage of the opportunities discussed above?

What strategies may a multinational corporation use to best mitigate the risks discussed above?

How does achieving competitive advantage at an international level differ from achieving competitive advantage at a domestic level? How may a firm strategically position itself for international competitive advantage? Cite at least one example or strategy specific to international business.

Learning Team Reflection on Weeks 3 and 4

Discuss with your team the topics from weeks three and four readings and class discussions that you are comfortable with, the topics that you struggled with, and how the weekly topics relate to your professional or personal lives.

Write a 500 - 700 word paper detailing the findings of your discussion

Discussion Questions

If you were a manager of a large manufacturing company and decided to offshore labor-intensive production to another country, how would you justify the decision to your employees and the community where your plants are located? What economic arguments would you make? What social or ethical argument could you make?

Pepsi-Cola and Coca-Cola have dominated the market for almost a century whereas General Motors and Ford Motor Company have suffered due to increased competition. What is it about the markets, the products, or the companies themselves that has allowed the two former companies to thrive whereas the later two falter? Frame your answer in terms of competitive advantage and international business.

Week 5

Individual Final Examination

Learning Team Sustainability PowerPoint Presentation and Paper

Select one of the companies from the following list and investigate its commitment to and performance in sustainable business:

Pepsi-Cola Company

Wal-Mart Stores, Inc.

Lowes

Starbucks Coffee Company

Barnes & Noble

Amazon.com, Inc.

Hewlett Packard Development Company, L.P.

Dell Inc.

The Walt Disney Company

Microsoft

Write a 1,400- to 2,100-word paper in which you:

Define sustainability.

Explain why sustainability is important for financial success.

Evaluate the selected business in terms of sustainability, addressing the following:

oIdentify its financial and non-financial stakeholders.

oDescribe how economic and non-economic business decisions may negatively or positively affect stakeholders.

oExplain how those decisions may affect profits when stakeholder reactions are taken into account.

oIdentify ways in which the selected business is succeeding and ways in which it is falling short in terms of sustainability.

oCompare the selected business to other businesses within the same industry in terms of sustainability. Consider at least one of the following:

Commitment to environmental issues

Company and employee relations

Commitment to the communities in which the company operates

Product design

Create a sustainability strategy for the selected business:

Identify ways in which it may expand upon current or past sustainability successes.

Identify opportunities for turning sustainability shortcomings into areas of sustainability growth.

Identify ways to improve stakeholder relationships.

Explain how specific actions and policies must be implemented.

Format your paper consistent with APA guidelines.

Create a 10- to 15-slide Microsoft PowerPoint presentation highlighting your paper.

Discussion Questions

On what ethical, moral, or social grounds would you make a management decision that would lead to decreased profits? Cite a specific example and explain why your decision would be appropriate.

Sustainability is often viewed as a break with an outdated business philosophy in which management decisions are driven strictly by the desire to increase profits whereas social and environmental concerns fall by the wayside. In The Triple Bottom Line, Savitz argues convincingly in favor of sustainable business, showing how, in todays socially and environmentally conscious world, companies must take the wellbeing of non-financial stakeholders into account to achieve financial success. Do you believe that todays companies make socially and environmentally sound decisions because it is the right thing to do? Or do you believe it is simply because the risk of negative financial consequences for not doing so has become too great? Is there a new triple bottom line?