Assignment 3: Final Report-PowerPoint or Word Document
This assignment is aligned to course outcome 3 and its enabling learning objectives: Apply microeconomic and macroeconomic concepts to current and personal economic events and decisions.
a. Apply the economic principles to a specific industry
b. Describe goods and/or services provided by a specific industry
c. Describe how government decisions can impact market outcomes for a specific industry
d. Recognize trends for this industry and determine where you feel it may be headed In addition to writing about economic concepts, it's equally important to be able to convey your understanding of economic concepts by communicating them to others.
For this assignment, you'll take the role of a project team leader. As project team leader, you've been tasked by your manager to help your work team get up to speed on the principles of economics so all of you can begin to incorporate these principles into your upcoming consulting work with a new client. This Final Report assignment will build off of your previous Economic Briefs and selected industry. You can choose to create a PowerPoint slide deck (approximately 8-10 slides) or a Word document (approximately 3 pages) as your Final Report. For this assignment, you'll expand on the industry that you previously selected and apply at least 3 of the 10 Principles of Economics we've covered in class:
• Markets Are Usually a Good Way to Organize Economic Activity
• A Country's Standard of Living Depends on Its Ability to Produce Goods and Services
• Society Faces a Short-Run Trade-Off Between Inflation and Unemployment
• Trade Can Make Everyone Better Off
• Government Can Sometimes Improve Market Outcomes
• Prices Rise When the Government Prints Too Much Money
• People Face Trade-Offs
• The Cost of Something is What You Give Up to Get It
• Rational People Think at the Margin
• People Respond to Incentives Industry Background Resources These resources are available to help you:
• Industries at a Glance
• Mergent Online Help Video on Mergent Industry Reports
• Business Source Complete United States Industry Profiles
• Flipster Online Magazines Scroll through to view these recommendations: Bloomberg Businessweek and Fast Company