English

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Note: You will deliver a draft presentation in one of the two class sessions on 5/1 or 5/8, and based on feedback from me and your peers, submit a final draft on 5/15.

 

 

 

 

 

 

Overview :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.  You will also be preparing a brief powerpoint presentation on your paper to be given in the last 3 class sessions of the semester.

 

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. 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

 

For this assignment, You will 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. I have included in Moodle a set of annual reports of select firms.  You can either choose from among the list or another that meets the requirements of the project.

 

The reason to base your project on publicly traded companies is that the 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.

 

The final presentation should be 15–20 slides using PowerPoint and speaker key notes, including title and reference slides. Be sure to include speaker notes to accompany the data and graphs, information, and bullet points presented on the slide.

Specifically, the following critical elements must be addressed:

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

 

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

 

  1. Explore the supply and demand conditions for your firm’s product.
  2. 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.

 

  1. 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.

  1. 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

 

  1. 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.

 

  1. c) Assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue
  2. Examine the costs of production for your firm.

 

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

 

  1. 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.

 

  1. Explore the overall market for your firm.

 

  1. 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.

 

  1. 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.

 

 

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

 

  1. Recommendation

 

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

 

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

 

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

 

Milestones Assignments

Milestone One(Due 2/13/19): 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.

2) Present your research with 2-4 slides in PowerPoint, Keynotes, not including title page and                 references. Be sure to include speaker notes to accompany all of your responses.

3) Apply APA formatting to citations and references.

Milestone Two(Due 3/13/19): Supply & Demand Conditions and Price Elasticity of Demand

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.

2) Present your research with 2–3 slides in PowerPoint and Keynotes, not including title page and references. Be sure to include speaker notes to accompany all of your responses.

 

3) Apply APA formatting to citations and references.

 

Milestone Three (Due 4/17/19): Costs of Production, Overall Market Position, and Recommendation

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.

2) Present your research with 2–3 slides in PowerPoint, keynotes not including title page and references. Be sure to include speaker notes to accompany all of your responses.

 

3) Apply APA formatting to citations and references.

 

Final Project(Due 5/15/19):  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.

 

1) Present your complete company profile research with up to 10 slides in PowerPoint, keynotes not including title page and references. Be sure to include speaker notes to accompany all of your responses. Essentially, these should be your Milestone 1 to 3 powerpoint deck combined. After your presentation you can incorporate feedback from me and your classmates and submit the final draft on or before the last day of the course (see due date).

 

2) Apply APA formatting to citations and references.