economics syllabus university of pheonix

economics syllabus university of pheonix - Course Syllabus...

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Course Syllabus XECO212 Principles of Economics Week Two Price and Income Elasticity of Demand Describe the effect that the necessity of a good has on price elasticity of demand. Describe the effect that the availability of substitutes has on price elasticity of demand. Explain the factors that affect supply and demand. Course Assignments 1. Price Elasticity and Supply and Demand Short Answer Quiz Complete the Price Elasticity and Supply and Demand Short Answer Quiz in Appendix B. Post your completed chart as an attachment. 2. Assignment: Supply and Demand Paper Choose one good with which you have had experience purchasing:
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o New home o New car o Vacation to a theme park o Washing machine o Computer o College o Other Write a 700- to 1,050-word paper explaining factors that affect supply and demand. Include the following: o Explain factors that could cause possible changes in supply and demand. o Determine at least two substitutes there may be for your product. o Determine at least two complements there may be for your product. o Explain how the necessity of your chosen good impacts price elasticity Format your paper according to APA guidelines. Post your assignment as an attachment. Summary of Week 2 Deliverables Assignment Location Due Checkpoint: Elasticity Individual Forum Day Five Supply and Demand Paper Individual Forum Day Seven Week Three Inputs to the Production Process and Costs Explain the effect of supply and demand of labor on labor market equilibrium. Summarize the factors that affect labor supply and demand. Explain how firms determine whether to invest in additional capital or labor. Course Assignments 1. Readings Read Ch. 11 & 13 - 17 of Principles of Economics. 2. Nongraded Activities and Preparation Watch Tomlinson Economics Videos 11.2-1 & 13.1-1 to 17.2-1 by South-Western Cengage Learning. 3. Assignment: Historical Example of Labor Supply and Demand
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Submit a 250- to 300-word response addressing one of the following historical events in terms of labor supply and demand: the Great Depression, the Luddite Revolt, the Black Death, or the technology boom of the 1990s. Include the following: o What was the impact on the supply and demand of labor on one sector of the labor market? o Explain the factors that affected labor demand and labor supply in the chosen historical example. 4. Discussion Questions Why do baseball players and CEOs make more money than lowly Economics instructors? Why are some workers making more money than others? Must everyone make the same wage? Explain your answers using labor market equilibrium. Are there business reasons for why good looking people get paid more than those who are judged average? What are some good reasons why good looking people will earn more money over their lifetime?
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Summary of Week 3 Deliverables Assignment Location Due Assignment: Labor Supply and Demand Assignment Forum Day Five Discussion Question One Main Forum Day Two
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This note was uploaded on 02/25/2011 for the course XECO 212 taught by Professor Cohen during the Spring '10 term at University of Phoenix.

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economics syllabus university of pheonix - Course Syllabus...

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