GB540 all discussions
Unit 1

Discussion
Question 1 of 3

A
fundamental assumption for economic analysis is that economic agents, be it an
individual, a household or a firm/business, tend to make choices and select
alternatives rationally. The rational economic choice (decision) implies that people are driven by the rational pursuit of self-interest,
and engaged in economic decisionsto maximize this self-interest.
By rational economic choice,
economists mean that people try to make the best choice they can, given the
available resources at their disposals (money, time, etc.) and information.
Self-interest is when individuals make economic decisions that are in their own
best interest. On the other hand, social interestis when choices are
made that benefit society as a whole. Economists argue that social interest can
be attained by individual decision makers acting in their own self-interest.
This process is what Adam Smith called the invisible hand, which has
been the foundation of the market economy.
Create an example to demonstrate how
an individual or firm acting out of self-interest to maximize profits by
offering goods or services in economic markets benefit consumers even if they
do not care about them. In other words, how does self-interest help achieve
societys economic goals?
What is the relationship between
self-interest and social interest in the economic decision (economic choice)
process? Is there a conflict between the two in the economic world?Discussion Question 2 of 3
There are two major
kinds of government interventions in markets: price controls and
quantity controls. The government intervenes to regulate prices by
imposing price controls, which are legal restrictions on how high or low
a market price may go. Price ceiling is the maximum price sellers are
allowed to charge for a good or service whereas price floor is the
minimum price buyers are required to pay for a good or service.

Price and quantity
controls may have adverse impacts on productive and allocative
(marketing) efficiency. However, price and quantity controls are used
despite their well-known problems.

Based on the reading in
Chapter 3 on price ceiling and price floor, explain the impacts of the
following price control measures.

What would happen to
the supply and demand of Super Bowl tickets if the government mandated
that no more than $20 a ticket could be charged?

What would happen if a law passed dictating that kindergarten teachers could make no less than $100,000 per year?

Unit 1: Unit 1: The Economic Way of Thinking – Discussion

Answer two of the three
Discussion topics below to enter your main (initial) responses. For
Discussion participation, provide two thoughtful and substantial
responses to the main posts of at least two different classmates on any
of the three Discussion topics for a total of four responses. Your posts
for the discussions should occur on at least three different days.
Please also respond to the feedback you receive from the instructor on
your initial posts when appropriate. Your contributions should make it
clear that you understand the assigned reading materials, and you are
able to apply them to the real world economic decisions.

Topics

Discussion Question 1 of 3

Discussion Question 2 of 3

.next.ecollege.com/Images/selected.gif” alt=” “>Discussion Question 3 of 3

Discussion Question 3 of 3

The concept of
rational action is a frontier of economic theory. Accordingly,
traditional economics holds that humans, as rational beings, make
rational economic choices to maximize their economic welfare as pursuit
of self-interests. Thus Economics assumes that human economic behavior
reflects rational self-interest.

But some economists
argue that rationality has its bounds since many human behaviors do not
appear to be rational, as traditional economics assume most human
behavior is rational. Economist Herbert Simon developed the concept of
bounded rationality, which means that people are as rational as
possible (seek to act in their own best interests) given their
limitations. Bounded rationality is based on the premise that an
individuals rationality is limited by both his cognitive ability and
the economic environment. Thus an economic agent behaves in a manner
that is nearly optimal with respect to its goals as its resources will
allow.

Therefore, some
economists claim that bounded rationality better describes economic
agents behaviors than optimal rationality approach. This is due to the
fact that bounded rationality recognizes that it is impossible to
comprehend and analyze all of the potentially relevant information in
making economic choices. The only possible way of coping with the
complexity of the world is to develop techniques, habits and standard
operating procedures to facilitate the decision making process. The
debate still goes on the issue. Do people make rational decisions in
economics? What are the factors that lead to bounded rationality? What
leads to irrational economic decisions?

With this in mind, pick
a behavior that appears irrational to other people but has rational
components for the person doing it. Then provide a thorough explanation
for your classmates.Unit 1: The Economic Way of Thinking – Case Study

Case Study

Economist Joseph Schumpeter, who taught at Harvard
from 1932 until his death in 1950, popularized the term creative
destruction to describe the capitalist process in which entrepreneurs
introduce new goods and services to economic markets that displace
existing goods and services. Though this innovative process results in
increased wealth and better standards of living overall, not everybody
benefits equally. The opportunity cost of buying a newly available
product is the use of the old one that has been given up, so those in
the camp of the new, different, and desirable do very well, while those
camped out with the old and no longer desirable products see their
prospects decline.
Provide an example of creative destruction you
have witnessed during your lifetime and describe what the benefits and
costs to the economy have been. Who was enriched and whose fortunes
declined?
Construct thoughtful, detailed responses to the cases contributed by at least three of your classmates

Unit 1 AssignmentAll problems below are to be completed and submitted to the Unit 1 Dropbox by the
end of Unit 1.
Problem #1:Using either a graph or table (Refer to pages 11-15 for help
with graphs and tables) use two goods to construct a production possibilities
curve. Clearly explain what a variety of different points on the curve mean.
What would make the curve expand or contract? Why is efficiency lost at the
extremes, as when substantially more of one good and very little of another is
produced?
Problem #2 Part A:Go to the internet auction site eBay at
www.ebay.comand select the category Jewelry and Watches, followed by
Loose Diamonds and Gemstones, and then Diamonds, Natural. How many natural
diamonds are for sale at the moment? Note the wide array of sizes and prices of
the diamonds. In what sense is there competition among the sellers in this
market? How does that competition influence prices? In what sense is there
competition among buyers? How does that competition influence prices?
Problem #2:
Part B)Describe what would happen if an outside agency determined the
prices eBay could charge.
Problem #3:Read the LAST word feature on markets for human organs on
Pages 6263 of your text. Next, select a social problem where free markets are
not allowed to function and describe how free market features could be
introduced to help alleviate the problem. As part of your answer also include a
discussion of the risks of introducing market mechanisms in situations where
ethical issues are present. Your answer should be approximately two pages long
and in APA format.
(Note: You can write about social problems where the free markets are not allowed
to function, which includes the market for a particular illegal good or service,
a regulated market, etc.).Unit 2: Domestic and Global Economic Markets – DiscussionDiscussion Question 1 of 3
The law of demand
states that a fall in the price of a good raises the quantity demanded,
and the increase in price leads to a decrease in quantity demanded. The
price elasticity of demand measures the responsiveness of the quantity
demanded to a change in price. Demand for a good is said to be elastic
if the quantity demanded responds substantially to changes in the price,
and the percentage change in quantity demanded is greater than the
percentage change in price. Demand is said to be inelastic if the
quantity demanded responds only slightly to changes in the price, which
indicates that the percentage in price is greater than the percentage in
quantity demanded.

However, the extent of
responsiveness of quantity demanded to a change in price depends on the
nature of a particular good or service in the market. The price
elasticity of demand partly depends on the availability of close
substitutes. When a large number of substitutes are available, consumers
respond to a higher price of a good by buying more of the substitute
goods and less of the relatively more expensive good. In addition, goods
or services that are considered necessities tend to have less elastic
(more inelastic) demand, whereas goods or services that are considered
luxuries have more elastic (less inelastic) demands.

Explain why the
demand for the good or service provided by the organization you work for
is elastic or inelastic. How does this influence pricing decisions?
Provide examples on how the availability of close substitutes affects price elasticity of demand.
Give specific examples of necessities or luxuries, and explain how they affect price elasticity of goods or services.Discussion Question 2 of 3
Externalities come
about when individuals impose costs on or provide benefits to others but
do not consider those costs and benefits when deciding how much to
consume or produce. Thus externality is a cost or benefit received by a
person not involved in a market transaction, and therefore not reflected
in the market price of the commodity being transacted. There are two
types of externalities: positive externalities and negative
externalities.
A
positive externality exists when an individual or firm making an
economic decision does not receive the full benefit of the decision. In
this case, the social benefit is greater than the benefit that goes to
the individual or firm.
A
negative externality occurs when an individual or firm making a decision
does not have to pay the full cost of the decision. If a good has a
negative externality, then the cost to society is greater than the cost
consumer is paying for it.
Both positive and negative externalities result in market inefficiencies unless proper action is taken.
Describe your understanding of externalities by providing an example of a positive externality and a negative externality.Why do positive and negative externalities lead to inefficiency in the market economy?How can externalities be addressed using the private sector to reduce market distortions of externalities?What government policies help deal with positive and negative externalities by reducing inefficiency?Discussion Question 3 of 3
The role of governments in the economy is one of
the most debated issues in economics. Similarly, one of the most
enduring debates of U.S. economic history focuses on the role of
government in the economy. On the one hand, it is argued that government
regulation of the economy is too little and too late. On the other
hand, there is also a claim that the U.S. economy is no longer a free
market due to too many regulations.
Moreover, the causes of economic and financial crises
have been parts of the larger debate on the role of the government in
the economy. Some argue that the accumulation of incorrect policies and
lack of effective policies led to the recent and other economic and
financial turmoil (crises). Accordingly, the failures of the main
entities that manage our economy, which are the Congress, the executive
branch of the Federal government represented by the Treasury Department,
and the Federal Reserve System, lead to economic and financial crises.
The other side claims that its the lack of regulations that lead to
economic and financial crises.
What are the roles of government in the
market economy? Based the current economic conditions, to what extent
should the government intervene in the market economy?What are the justifications given in favor of more government involvement in the market economy?What are the reasons given in favor of less government involvement in the market economy?Unit 2: Domestic and Global Economic Markets – Case Study

Case Study

Read the LAST
Word piece, Government Failure in the News, in Chapter 17. Investigate
the use of special-interest lobbyists for some of these articles. The
process of lobbying legislatures is itself a big business. State
legislatures are under the same kind of pressure from interest groups as
the Senate and the House of Representatives. Provide an example to
discuss how special interests can succeed in perpetuating policies that
are opposed by the majority of voters because the costs of organizing
and motivating groups to take political action increase with groups
size.
Construct thoughtful, detailed responses to the answers contributed by at least three of your classmates.Unit 2 Assignment
According to the law of demand, if price increases, quantity demanded of a good
or service will decrease or vice versa. Price elasticity of demand tells us how
much quantity demanded will decrease when price increases or how much quantity
demanded will increase if price decreases.
On the other hand, according to the law of supply, if the price increases,
quantity supplied of a good or service will increase. Similarly, if price
decreases, quantity supplied will decrease. The degree of sensitivity
(responsiveness) of production/supply to a change in price is measured by the
concept of price elasticity of supply.
Total revenue is calculated as the quantity of a good or service sold multiplied
by its market price. Thus it is a measure of how much money a company makes from
selling its product. The core objective of a firm is maximizing profit. One of
the ways to maximize profit is increasing total revenue. The firm can increase
its total revenue by selling more items or by raising the price. Among others,
this depends on the nature of the price elasticity of demand. Moreover, the
length of time is an important factor in determining price elasticity of demand
and supply.

Explain the relationship between the price elasticity of demand and total
revenue. What are the impacts of various forms of elasticities (elastic,
inelastic, unit elastic, etc.) on business decisions and strategies to
maximize profit? Explain using empirical examples.

Is the price elasticity of demand or supply more elastic over a shorter
or a longer period of time? Why? Give examples.

What are the impacts of government and market imperfections (failures) on
the price elasticities of demand and supply?

The Assignment should be a minimum of five pages in length, excluding
title page and reference page. Your paper must incorporate several quality
references, and it must be organized in APA format.Unit 3: Utility and Market Models

Discussion
Question 1 of 3

One of the main principles behind
mainstream, neoclassical economic theory is that individuals act to optimize
their own utility. Utility is generally defined as a satisfaction (pleasure)
that an individual derives from consuming or using a specific good or service.
One of the most interesting areas in utility theory is the paradox of value.
There is a paradox of value due to the fact that absolute necessities such as
water and air are valued (priced) very cheaply, whereas other goods like
diamond, which are not necessities, are highly valued and command the most
outrageous prices.
In order to understand the paradox
of value, there is a need to distinguish total utility from marginal utility.
The total satisfaction obtained from all units of a particular good or service
consumed over a period of time is called total utility. An additional or
incremental utility derived from consuming one more unit of a good or service
is called marginal utility. Thus marginal utility is the change in the total
utility that results from one unit change in consumption of a good or service
within a given period of time.
Using the Diamond-Water Paradox as a
guide (refer to page 124 of the textbook) and two other goods of your choice,
illustrate the paradox of value. Explain the roles total utility and marginal
utility play to understand this paradox.Discussion Question 2 of 3
Utility is a satisfaction that an individual
derives from consuming or using a specific good or service. Total
utility indicates the total amount of satisfaction or pleasure an
individual derives from consuming some specific quantity of a good or
service. Marginal utility refers to the additional satisfaction a
consumer gets from an additional unit of a good or service she/he
consumes during a given period of time.
The law of diminishing marginal utility states that as
a consumer consumes more and more units of a specific good or service,
the additional utility the consumer derives from the successive units
keep on diminishing (declining) over time.
Diminishing marginal utility explains a lot about
consumer behavior in the economy. Select a specific consumer behavior
and construct a mini case study that highlights the workings of
marginal utility and how it affects the consumption pattern.
Discussion Question 3 of 3
There are four key types of market structures in
the market economy: perfect competition, monopoly, oligopoly, and
monopolistic competition. Each of the market structures has its own key
distinguishing features. The marketing strategies of firms also differ
from market structure to market structure.

1. Pick a specific industry from one of the market structures and explain how it would function and maximize profit.
2. Which market structures do you think benefit consumers more than others? Explain by using examples.
3. We are daily exposed to a number of advertisements
on TV, in radio and in other places. Which market structures are the
most dominant in the advertisement industry? Why?Unit 3

Case
Study

The marginal product of
any input in the production process is the increase in the quantity of output
produced from one additional unit of that input. According to the Law of
Diminishing Returns, the marginal product of an input declines as the quantity
of the input increases over time, other factors remaining the same.
In
the workplace, you often see diminishing marginal product, where the
additional output produced per worker drops as they perform their jobs
over time.

As a manager, what are
some practical things you could do to raise marginal product per employee that
also benefit the firm? In your answer use a company you currently work
for or one you worked for in the past.

Give specific examples and discuss
how diminishing marginal productivity affect marginal revenues and profits of
firms.
Construct
thoughtful, detailed responses to the answers contributed by at least three of
your classmates.Assignment 3
For most firms today, success or
failure is determined by the ability to find, attract, keep, develop, and tap
into the most talented workforce that can be assembled. Use the Kaplan Online
Library to search for articles related to this topic. Write a 5-page report
outlining what firms need to do in order to bring in the most talented people
(from anywhere) and make the fullest possible use of their abilities. Support
your paper with at least two articles from the Library. Your paper must be APA
compliant.

GB540 Unit 3 Assignment Rubric

Content and Analysis

Points Possible

Points Earned

Unit 4: Measuring Economic ActivityDiscussion Question 1 of 3
There are a number of economic and non-economic factors that affect long-run economic growth of countries. Among these factors, roles
of physical capital, human capital, technology, and natural resources
in influencing long-run economic growth of aggregate output per capita
are widely discussed. Governments also play their roles in promoting and sustaining long-run economic growth of countries.
Empirical studies
indicate that natural resources no longer play the largest role in
affecting long-run economic growth since some of the natural resource
rich countries are much poorer than natural resource poor countries.
Based on your reading of Chapter 25, other course materials, and your knowledge and experience, analyze the following questions.

1. What
factors might contribute to a low or high growth rates in a country?
Why do some poor countries experience higher growth rates than others
when all face the same challenges?
2. Why
resources are no longer the most important indicators of economic
growth disparity among countries? Which other economic and non-economic
factors do you think explain the reasons behind growth disparities among
countries?
3. How
can sustainable long-run economic growth be realized? What are the
roles of the government in achieving sustainable long-run economic
growth?Discussion Question 2 of 3
Gross Domestic Product (GDP) measures the market
value of all final goods and services produced within a country in a
given period of time. In other words, GDP measures continuous flow of
money from households to firms and then back to households in the whole
economy. (Refer to Chapter 24)
The trend of the GDP growth rates is the key indicator
of macroeconomic fluctuations (business cycle), which include
expansion, boom, contraction, and recession. Thus the real GDP is used
to explain how well the overall economy of a country is performing
whereas GDP per capita is used as a natural measure of the economic
well-being of the average individual in a given country.
However, there are limitations (shortcomings) in using
the GDP as a measure of national income as well as a measure of
national welfare.
1. What are the limitations of the GDP in measuring
total output and national welfare? What products (services) are excluded
from the GDP computation?
2. Is the GDP measure underestimating or overestimating national production and total income in the economy? Why?

3. What are the impacts of the shortcomings of the GDP as a measure of the national product and national welfare? Discussion Question 3 of 3
Both inflation rate
and unemployment rate are closely watched aspects of macroeconomic
performances of the economy, and they are also among the key variables
guiding macroeconomic policy targets. Moreover, the sum of inflation
rate and the unemployment rate is described as the misery index, which
purports to measure the health of the economy and welfare.
The existence of high
unemployment rate is a serious problem for households and for a nation
at large. National outputs of goods and services decline during the
recessionary gap of the business cycle and lead to high rate of
unemployment. On the other hand, inflationary pressure leads to high
inflation rate, which in turn leads to a decline in real income. Thus
high inflation rate has adverse effect on welfare of citizens, and the
general economic well-being of a nation since it reduces effective
demand and purchasing power of the people.
Studies indicate that
there is a short-run tradeoff between inflation rate and unemployment
rate. Thus, in the short-run the tradeoff of between inflation rate and
unemployment rate creates a challenge for macroeconomic policymakers.
If you were
macroeconomic policymaker, how do you balance the short-run tradeoff
between inflation rate and unemployment rate? Explain.Official
unemployment rate is an imperfect measure of joblessness. Give examples
on how the definition of unemployment rate overstates or understates the
number of jobless people in the economy.Some policymakers
and analysts argue that unemployment benefits create disincentives for
job search and prolong the unemployment of workers. Whats your opinion
on the relationship between unemployment benefits and labor market
participation of the unemployed people?Unit 4 caseCase Study
Go to the website for reports on Global Competitiveness at:
.weforum.org/reports/global-competitiveness-report-2010-2011-0″>http://www.weforum.org/issues/global-competitiveness

Click on the “Reports” tab and find the latest
report entitled “Global Competitiveness Report” that is available. Spend
some time going through the materials there and become familiar with
the criteria used for the rankings. Next, pretend that you have been
put in charge of improving the ranking of a country in the bottom half
of the list and outline a plan for moving up in the rankings. You can
use a specific country or speak in general terms that apply to any
nation seeking to become more competitive.

Construct thoughtful, detailed responses to the answers contributed by at least three of your classmates.

Assigmet 4Select a GLOBAL Fortune 500 company (it cannot be one you work for) that operates
in the United States and in other nations around the world. You will be using
the same firm for the Unit 5 Assignment and the Unit 6 Final Project, so make
sure it is one you are interested in and that has plenty of good sources of
information available.Summarize the firms history, its recent and current operating results, and
the economic, social, and political forces that affect it most.Present a brief SWOT analysis (Strengths, Weaknesses, Opportunities,
Threats).Discuss the factors it will need to predict, plan for, and adjust to in the
future.The Assignment is to be a minimum of five pages long (title pages,
bibliographies, etc., do not count) and in APA format. A good variety of
objective, high-quality, current sources need to be used.

GB540 Unit 4 Assignment Rubric

Content and Analysis

Points Possible

Points Earned

A global Company was chosen.

5

Paper includes a discussion with an appropriate analysis
of the firms history.

5

Paper includes a discussion with an appropriate analysis
of the firms recent operating results.

5

Paper includes a discussion with an appropriate analysis
of the firms current operating results.

5

Paper includes a discussion with an appropriate analysis
of the firms economic forces that affect the firm the most.

5

Paper includes a discussion with an appropriate analysis
of the firms social forces that affect the firm the most.

5

Paper includes a discussion with an appropriate analysis
of the firms political forces that affect the firm the
most.

5

Paper includes a brief SWOT analysis for the firm.

5

Paper includes a discussion with an appropriate analysis
of the factors the firm needs to predict for the future.

5

Paper includes a discussion with an appropriate analysis
of the factors the firm will need to plan for the future.

5

Paper includes a discussion with an appropriate analysis
of the firms the factors that will need to be adjusted to
in the future.

5

Paper includes a minimum of three current references.

5

Writing Style, Grammar, APA Format

15

Total

75

Unit 5: The Banking System

Discussion
Question 1 of 3

Fiscal policy refers to the changes
in governments choices regarding the overall level of government spending and
taxes to affect the behavior of the economy. Fiscal policy can expand or
contract aggregate demand. The government sometimes uses the fiscal policy
instruments in an attempt to stabilize the economy. Under a recession, an
expansionary fiscal policy is adopted, which involves lowering taxes and
increasing government spending. In an overheated expansion with an inflationary
pressure, a contractionary fiscal policy is utilized, which requires higher
taxes and reduced spending. Economists and policymakers disagree about how
active the government should be in these efforts.

Based on the above summary and the detailed descriptions of the issues in the
textbook (chapter 30) discuss any of the following set of questions:
What are the expansionary and contractionary fiscal
policies? What are their policy instruments? How are they used to deal
with the inflationary gap and recessionary gap?What is the relationship between budget deficits and
national (public) debt? Why has the USA national debt been increasing for
decades?Should the tax laws be reformed to encourage saving? Do
you think consumption tax is better than income tax?Discussion Question 2 of 3
The Federal Reserve is responsible for regulating the
U.S. monetary system and setting monetary policy. Monetary policy
refers to what the Federal Reserve, the nation’s central bank, does to
influence the amount of money and credit in the U.S. economy. What
happens to money and credit affects interest rates (the cost of credit)
and the performance of the U.S. economy.

The Federal Reserves three instruments of monetary policy are open
market operations, the discount rate and reserve requirements. The Fed
controls the money supply primarily through open-market operations.
Accordingly, the purchase of government bonds increases the money
supply, and the sale of government bonds decreases the money supply. The
Fed can also expand the money supply by lowering reserve requirements
or decreasing the discount rate. It can contract the money supply by
raising reserve requirements or increasing the discount rate.

.federalreserve.gov/”>http://www.federalreserve.gov/

Based on the above summary and the detailed descriptions of the issues
in the textbook (Cchapter 33) discuss any of the following set of
questions:

What are the expansionary monetary policy and contractionary
monetary policy? What are their policy instruments? How are they used to
deal with the inflationary gap and recessionary gap?Do you think monetary policy or fiscal policy is likely to be the more effective tool of stabilization policy? Why?If the Fed wants to increase aggregate demand, it can increase
the money supply. If it does this, what happens to the interest rate and
rate of inflation? Why might the Fed choose not to respond in this way?Should monetary policy be made by rule rather than by discretion? Why?

Discussion Question 3 of 3
The textbook describes how banks create money. It
also highlights the impacts of this money creation during the periods of
inflationary gap and recessionary gap. During the period of a
recessionary gap, higher rates of unemployment may be accompanied by
lower prices. Banks have a role in the recovery process with their
lending roles.

The modern money is called fiat money. Fiat money is a currency, which
is declared by a government to be legal tender. It is not backed by a
physical commodity like gold or silver, and it has value solely because a
government accepts it for payments of taxes and debts. Fiat money has
been an object of serious criticisms ever since its creation. Opponents
of the fiat money argue that by not backing up their currency to
tangible commodity like Gold, governments facilitate printing of money,
which has been proven to generate inflation.

Based on the above summary and the detailed descriptions of the issues
in the textbook (chapter 32) discuss any of the following set of
questions:

Explain in your own words the process by which
banks create money. What is the reserve requirement and what role does
it play in money creation?
Discuss the impact of that ability to create
money on the economy during an inflationary gap and during a
recessionary gap. Considering the higher rates of unemployment and the
likelihood of lower prices during a recessionary gap, do banks, with
their lending policies, contribute to a recovery?
The only thing backing up a nations currency
(fiat money) in the modern world is faith in the government issuing it.
If this is so, what should governments do to maintain a stable currency?
How can the Central Bank (the Federal Reserve) build trust in the
currency? What actions would undermine a currency?Unit 5 caseCase Study
A country that has never had its own currency has
formed a central bank and put you in charge of developing money. It
needs to perform the necessary functions of any good currency
efficiently (i.e., being a medium of exchange, a store of value, and a
unit of account). Because your country is interested in trading with
other members of the global economy, other nations must have faith in
its fitness and the currency exchange markets must be willing to accept
it. Though your answer needs to be correct in terms of economic theory
(so be sure to read the assigned chapters), creativity and having fun
with it is strongly encouraged.

Construct thoughtful, detailed responses to the answers contributed by at least three of your classmates.
Unit 5
For this Assignment, you are to
continue using the same Fortune 500 company you selected in Unit 4. The focus
here is on its domestic (American) operations, with global issues left for Unit
6. Begin by reading through the material on economic indicators in the Webliography. Select 6-10 indicators that are of
particular relevance to your firm and explain why. Next, outline a strategy for
how the firm should respond to the information provided by the economic
indicators with the goal of maximizing revenues in the years ahead.
The Assignment is to be a minimum of
five pages long (title pages, bibliographies, etc., do not count) and in APA
format. A good variety of objective, high quality, current sources need to be
used.
Unit 6: International Economic and Emerging EconomiesDiscussion Question 1 of 3
The gains from specialization and trade are based
on comparative advantage, which reflects the relative opportunity cost.
When countries specialize in producing goods and services for which they
have comparative advantages, total production in the global economy
rises. Trade advocates argue that this increase in the size of the
economic pie can be used to make all trading countries better off
through international trade. Economists also use the principle of
comparative advantage to advocate free trade among countries as a better
policy. Trade is not based on absolute advantages countries have but
the relative (comparative) advantage.
Does free trade contribute to the improvement of economic well-being?Who gains and who loses from free trade among countries, and how do the gains compare to the losses? Explain using examples.Do you think the USA export and
import of goods and services are based on the principle of a
comparative advantage of trade? Explain.Discussion Question 2 of 3
A balance of trade
(trade balance) is the difference between the monetary values of exports
and imports of a countrys economic output over a given period of time.
Trade balance can be positive (favorable) when the value of exports is
greater than the value of imports. The positive trade balance is also
called trade surplus. On the other hand, if the value of imports is
greater than the value of exports, the trade balance indicates trade
deficit.

Trade balance affects
the Gross Domestic Product (GDP) of a country since net export is a
component of the GDP. It also affects the exchange rate of a countrys
currency.
How does trade stimulate long term economic growth? Explain.
Which part of international trade creates more jobs? Is it export or import? Why?
Is it trade deficit or trade surplus that contributes more to economic growth? Why?
Why do countries impose trade restrictions on
goods and services they import from other countries? What are the pros
and cons of trade protectionism?
Discussion Question 3 of 3
Quantity supplied and demanded for products change
as the prices of the products change. Similarly, supply and demand for
foreign currency result in changing prices of a currency. The price of a
currency changes as demand for foreign currencies changes. This price
of foreign currency, in terms of U.S. currency, is known as the foreign
exchange rate. Exchange rate simply indicates how many USA dollars it
will cost us to purchase a unit of foreign currency. This floating
foreign exchange rate changes daily with the international supply and
demand for currency.
What are the impacts of currency devaluation and revaluation on international trade?
What are the factors that increase and decrease the demand for a foreign currency?
What is the difference between pegged currency
(fixed exchange rate) and floating exchanged? What are their pros and
cons of the two forms of the exchange rates?
What is currency war? How does it affect trade between countries?Unit 6 caseCase Study
International trade has pros and cons.Economists generally support free trade. International trade has played a significant part in promotingeconomic
development and technology transfer among countries. There are also
various arguments in favor of restricting international trade:
protecting jobs, defending national security, helping infant industries,
preventing unfair competition, and responding to foreign trade
restrictions.

1. What is the impact of free trade on domestic job creation policy? Elaborate with examples.

2. What the impacts of outsourcing and off-shoring on trade liberalization (globalization) and economic structure?

3. What are the pros and cons of importing cheap goods and services?Unit 6The Final Project is to be submitted as a PowerPoint presentation of
approximately 20-25 slides. Material from the Unit 4 and Unit 5 Assignments can
be used to provide a background and foundation upon which to build. While the
primary focus of the Final Project should be on your firms global operations,
integrate information on the regional and national level, as well. How have they
done in the past? What is their current state? What kinds of plans and
possibilities do they have for the future? Is there room for improving what they
do? Should new ventures be added or old ones subtracted? As you can see, the
field is wide open for you to construct your project in the most relevant way
you see fit.
As parts of the Final Project you are to include an 18-24 month forecast and a
strategic audit (an analysis of how well the firms strategies have worked to
date). Your conclusion should include a clear set of recommendations that are
well supported. The project must include APA format references on the final
slide and in-text references on the slide where information is presented.
Include a minimum of three high-quality, up-to-date sources. It is to be
submitted to the Week 6 Dropbox by the end of Unit 6.

GB540 Unit 6 Assignment Rubric

Content and Analysis

Points Possible

Points Earned

PowerPoint presentation includes 20-25 slides.

10

Presentation includes an appropriate analysis of the
firms global operations integrating information at the
regional and national level.

13

Presentation includes an appropriate analysis of how
well the firm has operated in the past.

13

Presentation includes an appropriate analysis of the
firms current state.

5

Presentation includes an appropriate analysis of plans
and possibilities the firm has for the future.

10

Presentation Includes an appropriate explanation and
analysis of where there is room for improvement.

10

Presentation includes an appropriate analysis regarding
whether the firm should add new ventures.

10

Presentation includes an appropriate analysis whether
the firm should subtract diverge away from old ventures.

10

Presentation includes an18-24 month forecast for the
firm.

10

Presentation includes a strategic audit that provides an
analysis of how well the firms strategies have worked
to-date.

5

Writing, Grammar, appropriate use of limited text and
bullet points. Final slide includes at least three
references in APA format. In-text references are included on
appropriate slides throughout the presentation where
applicable.

24

Total

120

GB540 all discussionsUnit 1Discussion
Question 1 of 3A
fundamental assumption for economic analysis is that economic agents, be it an
individual, a household or a firm/business, tend to make choices and select
alternatives rationally. The rational economic choice (decision) implies that people are driven by the rational pursuit of self-interest,
and engaged in economic decisionsto maximize this self-interest.By rational economic choice,
economists mean that people try to make the best choice they can, given the
available resources at their disposals (money, time, etc.) and information.Self-interest is when individuals make economic decisions that are in their own
best interest. On the other hand, social interestis when choices are
made that benefit society as a whole. Economists argue that social interest can
be attained by individual decision makers acting in their own self-interest.
This process is what Adam Smith called the invisible hand, which has
been the foundation of the market economy.Create an example to demonstrate how
an individual or firm acting out of self-interest to maximize profits by
offering goods or services in economic markets benefit consumers even if they
do not care about them. In other words, how does self-interest help achieve
societys economic goals?What is the relationship between
self-interest and social interest in the economic decision (economic choice)
process? Is there a conflict between the two in the economic world?There are two major
kinds of government interventions in markets: price controls and
quantity controls. The government intervenes to regulate prices by
imposing price controls, which are legal restrictions on how high or low
a market price may go. Price ceiling is the maximum price sellers are
allowed to charge for a good or service whereas price floor is the
minimum price buyers are required to pay for a good or service.Price and quantity
controls may have adverse impacts on productive and allocative
(marketing) efficiency. However, price and quantity controls are used
despite their well-known problems.Based on the reading in
Chapter 3 on price ceiling and price floor, explain the impacts of the
following price control measures.What would happen to
the supply and demand of Super Bowl tickets if the government mandated
that no more than $20 a ticket could be charged?What would happen if a law passed dictating that kindergarten teachers could make no less than $100,000 per year?The concept of
rational action is a frontier of economic theory. Accordingly,
traditional economics holds that humans, as rational beings, make
rational economic choices to maximize their economic welfare as pursuit
of self-interests. Thus Economics assumes that human economic behavior
reflects rational self-interest.But some economists
argue that rationality has its bounds since many human behaviors do not
appear to be rational, as traditional economics assume most human
behavior is rational. Economist Herbert Simon developed the concept of
bounded rationality, which means that people are as rational as
possible (seek to act in their own best interests) given their
limitations. Bounded rationality is based on the premise that an
individuals rationality is limited by both his cognitive ability and
the economic environment. Thus an economic agent behaves in a manner
that is nearly optimal with respect to its goals as its resources will
allow.Therefore, some
economists claim that bounded rationality better describes economic
agents behaviors than optimal rationality approach. This is due to the
fact that bounded rationality recognizes that it is impossible to
comprehend and analyze all of the potentially relevant information in
making economic choices. The only possible way of coping with the
complexity of the world is to develop techniques, habits and standard
operating procedures to facilitate the decision making process. The
debate still goes on the issue. Do people make rational decisions in
economics? What are the factors that lead to bounded rationality? What
leads to irrational economic decisions?With this in mind, pick
a behavior that appears irrational to other people but has rational
components for the person doing it. Then provide a thorough explanation
for your classmates.Economist Joseph Schumpeter, who taught at Harvard
from 1932 until his death in 1950, popularized the term creative
destruction to describe the capitalist process in which entrepreneurs
introduce new goods and services to economic markets that displace
existing goods and services. Though this innovative process results in
increased wealth and better standards of living overall, not everybody
benefits equally. The opportunity cost of buying a newly available
product is the use of the old one that has been given up, so those in
the camp of the new, different, and desirable do very well, while those
camped out with the old and no longer desirable products see their
prospects decline.Provide an example of creative destruction you
have witnessed during your lifetime and describe what the benefits and
costs to the economy have been. Who was enriched and whose fortunes
declined? Construct thoughtful, detailed responses to the cases contributed by at least three of your classmatesAll problems below are to be completed and submitted to the Unit 1 Dropbox by the
end of Unit 1.Problem #1:Using either a graph or table (Refer to pages 11-15 for help
with graphs and tables) use two goods to construct a production possibilities
curve. Clearly explain what a variety of different points on the curve mean.
What would make the curve expand or contract? Why is efficiency lost at the
extremes, as when substantially more of one good and very little of another is
produced?Problem #2 Part A:Go to the internet auction site eBay at
www.ebay.comand select the category Jewelry and Watches, followed by
Loose Diamonds and Gemstones, and then Diamonds, Natural. How many natural
diamonds are for sale at the moment? Note the wide array of sizes and prices of
the diamonds. In what sense is there competition among the sellers in this
market? How does that competition influence prices? In what sense is there
competition among buyers? How does that competition influence prices?Problem #2:
Part B)Describe what would happen if an outside agency determined the
prices eBay could charge.Problem #3:Read the LAST word feature on markets for human organs on
Pages 6263 of your text. Next, select a social problem where free markets are
not allowed to function and describe how free market features could be
introduced to help alleviate the problem. As part of your answer also include a
discussion of the risks of introducing market mechanisms in situations where
ethical issues are present. Your answer should be approximately two pages long
and in APA format.(Note: You can write about social problems where the free markets are not allowed
to function, which includes the market for a particular illegal good or service,
a regulated market, etc.).The law of demand
states that a fall in the price of a good raises the quantity demanded,
and the increase in price leads to a decrease in quantity demanded. The
price elasticity of demand measures the responsiveness of the quantity
demanded to a change in price. Demand for a good is said to be elastic
if the quantity demanded responds substantially to changes in the price,
and the percentage change in quantity demanded is greater than the
percentage change in price. Demand is said to be inelastic if the
quantity demanded responds only slightly to changes in the price, which
indicates that the percentage in price is greater than the percentage in
quantity demanded.However, the extent of
responsiveness of quantity demanded to a change in price depends on the
nature of a particular good or service in the market. The price
elasticity of demand partly depends on the availability of close
substitutes. When a large number of substitutes are available, consumers
respond to a higher price of a good by buying more of the substitute
goods and less of the relatively more expensive good. In addition, goods
or services that are considered necessities tend to have less elastic
(more inelastic) demand, whereas goods or services that are considered
luxuries have more elastic (less inelastic) demands.Externalities come
about when individuals impose costs on or provide benefits to others but
do not consider those costs and benefits when deciding how much to
consume or produce. Thus externality is a cost or benefit received by a
person not involved in a market transaction, and therefore not reflected
in the market price of the commodity being transacted. There are two
types of externalities: positive externalities and negative
externalities.A
positive externality exists when an individual or firm making an
economic decision does not receive the full benefit of the decision. In
this case, the social benefit is greater than the benefit that goes to
the individual or firm.A
negative externality occurs when an individual or firm making a decision
does not have to pay the full cost of the decision. If a good has a
negative externality, then the cost to society is greater than the cost
consumer is paying for it.Both positive and negative externalities result in market inefficiencies unless proper action is taken.The role of governments in the economy is one of
the most debated issues in economics. Similarly, one of the most
enduring debates of U.S. economic history focuses on the role of
government in the economy. On the one hand, it is argued that government
regulation of the economy is too little and too late. On the other
hand, there is also a claim that the U.S. economy is no longer a free
market due to too many regulations.Moreover, the causes of economic and financial crises
have been parts of the larger debate on the role of the government in
the economy. Some argue that the accumulation of incorrect policies and
lack of effective policies led to the recent and other economic and
financial turmoil (crises). Accordingly, the failures of the main
entities that manage our economy, which are the Congress, the executive
branch of the Federal government represented by the Treasury Department,
and the Federal Reserve System, lead to economic and financial crises.
The other side claims that its the lack of regulations that lead to
economic and financial crises.Read the LAST
Word piece, Government Failure in the News, in Chapter 17. Investigate
the use of special-interest lobbyists for some of these articles. The
process of lobbying legislatures is itself a big business. State
legislatures are under the same kind of pressure from interest groups as
the Senate and the House of Representatives. Provide an example to
discuss how special interests can succeed in perpetuating policies that
are opposed by the majority of voters because the costs of organizing
and motivating groups to take political action increase with groups
size.Construct thoughtful, detailed responses to the answers contributed by at least three of your classmates.Unit 2 AssignmentAccording to the law of demand, if price increases, quantity demanded of a good
or service will decrease or vice versa. Price elasticity of demand tells us how
much quantity demanded will decrease when price increases or how much quantity
demanded will increase if price decreases.On the other hand, according to the law of supply, if the price increases,
quantity supplied of a good or service will increase. Similarly, if price
decreases, quantity supplied will decrease. The degree of sensitivity
(responsiveness) of production/supply to a change in price is measured by the
concept of price elasticity of supply.Total revenue is calculated as the quantity of a good or service sold multiplied
by its market price. Thus it is a measure of how much money a company makes from
selling its product. The core objective of a firm is maximizing profit. One of
the ways to maximize profit is increasing total revenue. The firm can increase
its total revenue by selling more items or by raising the price. Among others,
this depends on the nature of the price elasticity of demand. Moreover, the
length of time is an important factor in determining price elasticity of demand
and supply.Explain the relationship between the price elasticity of demand and total
revenue. What are the impacts of various forms of elasticities (elastic,
inelastic, unit elastic, etc.) on business decisions and strategies to
maximize profit? Explain using empirical examples.Is the price elasticity of demand or supply more elastic over a shorter
or a longer period of time? Why? Give examples.What are the impacts of government and market imperfections (failures) on
the price elasticities of demand and supply?The Assignment should be a minimum of five pages in length, excluding
title page and reference page. Your paper must incorporate several quality
references, and it must be organized in APA format.Discussion
Question 1 of 3One of the main principles behind
mainstream, neoclassical economic theory is that individuals act to optimize
their own utility. Utility is generally defined as a satisfaction (pleasure)
that an individual derives from consuming or using a specific good or service.
One of the most interesting areas in utility theory is the paradox of value.
There is a paradox of value due to the fact that absolute necessities such as
water and air are valued (priced) very cheaply, whereas other goods like
diamond, which are not necessities, are highly valued and command the most
outrageous prices.In order to understand the paradox
of value, there is a need to distinguish total utility from marginal utility.
The total satisfaction obtained from all units of a particular good or service
consumed over a period of time is called total utility. An additional or
incremental utility derived from consuming one more unit of a good or service
is called marginal utility. Thus marginal utility is the change in the total
utility that results from one unit change in consumption of a good or service
within a given period of time.Using the Diamond-Water Paradox as a
guide (refer to page 124 of the textbook) and two other goods of your choice,
illustrate the paradox of value. Explain the roles total utility and marginal
utility play to understand this paradox.Utility is a satisfaction that an individual
derives from consuming or using a specific good or service. Total
utility indicates the total amount of satisfaction or pleasure an
individual derives from consuming some specific quantity of a good or
service. Marginal utility refers to the additional satisfaction a
consumer gets from an additional unit of a good or service she/he
consumes during a given period of time.The law of diminishing marginal utility states that as
a consumer consumes more and more units of a specific good or service,
the additional utility the consumer derives from the successive units
keep on diminishing (declining) over time.Diminishing marginal utility explains a lot about
consumer behavior in the economy. Select a specific consumer behavior
and construct a mini case study that highlights the workings of
marginal utility and how it affects the consumption pattern.There are four key types of market structures in
the market economy: perfect competition, monopoly, oligopoly, and
monopolistic competition. Each of the market structures has its own key
distinguishing features. The marketing strategies of firms also differ
from market structure to market structure.
1. Pick a specific industry from one of the market structures and explain how it would function and maximize profit.2. Which market structures do you think benefit consumers more than others? Explain by using examples.3. We are daily exposed to a number of advertisements
on TV, in radio and in other places. Which market structures are the
most dominant in the advertisement industry? Why?Unit 3Case
StudyThe marginal product of
any input in the production process is the increase in the quantity of output
produced from one additional unit of that input. According to the Law of
Diminishing Returns, the marginal product of an input declines as the quantity
of the input increases over time, other factors remaining the same.In
the workplace, you often see diminishing marginal product, where the
additional output produced per worker drops as they perform their jobs
over time.
As a manager, what are
some practical things you could do to raise marginal product per employee that
also benefit the firm? In your answer use a company you currently work
for or one you worked for in the past.
Give specific examples and discuss
how diminishing marginal productivity affect marginal revenues and profits of
firms.Construct
thoughtful, detailed responses to the answers contributed by at least three of
your classmates.Assignment 3For most firms today, success or
failure is determined by the ability to find, attract, keep, develop, and tap
into the most talented workforce that can be assembled. Use the Kaplan Online
Library to search for articles related to this topic. Write a 5-page report
outlining what firms need to do in order to bring in the most talented people
(from anywhere) and make the fullest possible use of their abilities. Support
your paper with at least two articles from the Library. Your paper must be APA
compliant.GB540 Unit 3 Assignment RubricContent and AnalysisPoints PossiblePoints EarnedThere are a number of economic and non-economic factors that affect long-run economic growth of countries. Among these factors, roles
of physical capital, human capital, technology, and natural resources
in influencing long-run economic growth of aggregate output per capita
are widely discussed. Governments also play their roles in promoting and sustaining long-run economic growth of countries.Empirical studies
indicate that natural resources no longer play the largest role in
affecting long-run economic growth since some of the natural resource
rich countries are much poorer than natural resource poor countries.Based on your reading of Chapter 25, other course materials, and your knowledge and experience, analyze the following questions.
1. What
factors might contribute to a low or high growth rates in a country?
Why do some poor countries experience higher growth rates than others
when all face the same challenges?2. Why
resources are no longer the most important indicators of economic
growth disparity among countries? Which other economic and non-economic
factors do you think explain the reasons behind growth disparities among
countries?3. How
can sustainable long-run economic growth be realized? What are the
roles of the government in achieving sustainable long-run economic
growth?Gross Domestic Product (GDP) measures the market
value of all final goods and services produced within a country in a
given period of time. In other words, GDP measures continuous flow of
money from households to firms and then back to households in the whole
economy. (Refer to Chapter 24)The trend of the GDP growth rates is the key indicator
of macroeconomic fluctuations (business cycle), which include
expansion, boom, contraction, and recession. Thus the real GDP is used
to explain how well the overall economy of a country is performing
whereas GDP per capita is used as a natural measure of the economic
well-being of the average individual in a given country.However, there are limitations (shortcomings) in using
the GDP as a measure of national income as well as a measure of
national welfare.1. What are the limitations of the GDP in measuring
total output and national welfare? What products (services) are excluded
from the GDP computation?2. Is the GDP measure underestimating or overestimating national production and total income in the economy? Why?

3. What are the impacts of the shortcomings of the GDP as a measure of the national product and national welfare? Both inflation rate
and unemployment rate are closely watched aspects of macroeconomic
performances of the economy, and they are also among the key variables
guiding macroeconomic policy targets. Moreover, the sum of inflation
rate and the unemployment rate is described as the misery index, which
purports to measure the health of the economy and welfare.The existence of high
unemployment rate is a serious problem for households and for a nation
at large. National outputs of goods and services decline during the
recessionary gap of the business cycle and lead to high rate of
unemployment. On the other hand, inflationary pressure leads to high
inflation rate, which in turn leads to a decline in real income. Thus
high inflation rate has adverse effect on welfare of citizens, and the
general economic well-being of a nation since it reduces effective
demand and purchasing power of the people.Studies indicate that
there is a short-run tradeoff between inflation rate and unemployment
rate. Thus, in the short-run the tradeoff of between inflation rate and
unemployment rate creates a challenge for macroeconomic policymakers.Unit 4 caseGo to the website for reports on Global Competitiveness at:
.weforum.org/reports/global-competitiveness-report-2010-2011-0″>http://www.weforum.org/issues/global-competitiveness
Click on the “Reports” tab and find the latest
report entitled “Global Competitiveness Report” that is available. Spend
some time going through the materials there and become familiar with
the criteria used for the rankings. Next, pretend that you have been
put in charge of improving the ranking of a country in the bottom half
of the list and outline a plan for moving up in the rankings. You can
use a specific country or speak in general terms that apply to any
nation seeking to become more competitive.

Construct thoughtful, detailed responses to the answers contributed by at least three of your classmates.Select a GLOBAL Fortune 500 company (it cannot be one you work for) that operates
in the United States and in other nations around the world. You will be using
the same firm for the Unit 5 Assignment and the Unit 6 Final Project, so make
sure it is one you are interested in and that has plenty of good sources of
information available.The Assignment is to be a minimum of five pages long (title pages,
bibliographies, etc., do not count) and in APA format. A good variety of
objective, high-quality, current sources need to be used.Discussion
Question 1 of 3Fiscal policy refers to the changes
in governments choices regarding the overall level of government spending and
taxes to affect the behavior of the economy. Fiscal policy can expand or
contract aggregate demand. The government sometimes uses the fiscal policy
instruments in an attempt to stabilize the economy. Under a recession, an
expansionary fiscal policy is adopted, which involves lowering taxes and
increasing government spending. In an overheated expansion with an inflationary
pressure, a contractionary fiscal policy is utilized, which requires higher
taxes and reduced spending. Economists and policymakers disagree about how
active the government should be in these efforts.

Based on the above summary and the detailed descriptions of the issues in the
textbook (chapter 30) discuss any of the following set of questions:Unit 5 caseUnit 5For this Assignment, you are to
continue using the same Fortune 500 company you selected in Unit 4. The focus
here is on its domestic (American) operations, with global issues left for Unit
6. Begin by reading through the material on economic indicators in the Webliography. Select 6-10 indicators that are of
particular relevance to your firm and explain why. Next, outline a strategy for
how the firm should respond to the information provided by the economic
indicators with the goal of maximizing revenues in the years ahead.The Assignment is to be a minimum of
five pages long (title pages, bibliographies, etc., do not count) and in APA
format. A good variety of objective, high quality, current sources need to be
used.The gains from specialization and trade are based
on comparative advantage, which reflects the relative opportunity cost.
When countries specialize in producing goods and services for which they
have comparative advantages, total production in the global economy
rises. Trade advocates argue that this increase in the size of the
economic pie can be used to make all trading countries better off
through international trade. Economists also use the principle of
comparative advantage to advocate free trade among countries as a better
policy. Trade is not based on absolute advantages countries have but
the relative (comparative) advantage.A balance of trade
(trade balance) is the difference between the monetary values of exports
and imports of a countrys economic output over a given period of time.
Trade balance can be positive (favorable) when the value of exports is
greater than the value of imports. The positive trade balance is also
called trade surplus. On the other hand, if the value of imports is
greater than the value of exports, the trade balance indicates trade
deficit.Trade balance affects
the Gross Domestic Product (GDP) of a country since net export is a
component of the GDP. It also affects the exchange rate of a countrys
currency.Quantity supplied and demanded for products change
as the prices of the products change. Similarly, supply and demand for
foreign currency result in changing prices of a currency. The price of a
currency changes as demand for foreign currencies changes. This price
of foreign currency, in terms of U.S. currency, is known as the foreign
exchange rate. Exchange rate simply indicates how many USA dollars it
will cost us to purchase a unit of foreign currency. This floating
foreign exchange rate changes daily with the international supply and
demand for currency.Unit 6 caseInternational trade has pros and cons.Economists generally support free trade. International trade has played a significant part in promotingeconomic
development and technology transfer among countries. There are also
various arguments in favor of restricting international trade:
protecting jobs, defending national security, helping infant industries,
preventing unfair competition, and responding to foreign trade
restrictions.1. What is the impact of free trade on domestic job creation policy? Elaborate with examples.2. What the impacts of outsourcing and off-shoring on trade liberalization (globalization) and economic structure?3. What are the pros and cons of importing cheap goods and services?The Final Project is to be submitted as a PowerPoint presentation of
approximately 20-25 slides. Material from the Unit 4 and Unit 5 Assignments can
be used to provide a background and foundation upon which to build. While the
primary focus of the Final Project should be on your firms global operations,
integrate information on the regional and national level, as well. How have they
done in the past? What is their current state? What kinds of plans and
possibilities do they have for the future? Is there room for improving what they
do? Should new ventures be added or old ones subtracted? As you can see, the
field is wide open for you to construct your project in the most relevant way
you see fit.As parts of the Final Project you are to include an 18-24 month forecast and a
strategic audit (an analysis of how well the firms strategies have worked to
date). Your conclusion should include a clear set of recommendations that are
well supported. The project must include APA format references on the final
slide and in-text references on the slide where information is presented.
Include a minimum of three high-quality, up-to-date sources. It is to be
submitted to the Week 6 Dropbox by the end of Unit 6.