01 Feb references used.

GB540 Economics for Global Decision Makers

Unit 1 Assignment

Assignment: Free Market and Ethical Issues

Markets are mechanisms for coordinating the set of connections of production operations that are

distributed throughout the whole economic system. Thus, the market is the predominant and

determining link between producers of goods and services and consumers. Accordingly, markets, as

an exchange of goods and services that takes place as a result of buyers and sellers interactions, are

generally considered the most efficient allocator of resources in the market economy.

However, free markets are not allowed to solve some of the social problems in a society due to

various reasons. One such social problem is illegal drugs. Another example is environmental issues

such as pollutions. For an additional example for a social problem, where supply and demand is not

allowed to freely function, conduct basic research on markets for human organs. There are black

markets (underground economy) for human organs in some countries. But a trade in human organs,

based on supply and demand, raises ethical issues and hence it indicates a limitation of relying on

markets to solve the social problems we have in the society.

Course outcome(s) practiced and assessed in this Assignment:

GB540-1: Evaluate ethical issues in economics.

Directions

Your research should be about social problems where the free markets are not allowed to function,

which includes the market for a particular illegal good and service, a regulated market, etc.

? Select a social problem where free markets are not allowed to function, and conduct research

on the social problem.

? Describe how free market features could be introduced to help alleviate the social problem

through free market operations of supply and demand.

? Discuss the risks of introducing market mechanisms of supply and demand in situations where

ethical issues are present.

? Explain four roles of the government in maintaining ethical business practices.

Criteria

? Your Assignment should have a cover sheet with the following information: Title of the paper,

Your Name, Course Number and Section Number, and Date

? It must be a minimum of 5-pages long (excluding title page, references, etc.)

? Be sure to include the criteria located in the rubric below within your paper.

? It must be APA formatted with citations to your sources and your last page should list all

references used. Review the APA formats found in the Writing Center.

? You must use a variety of three objective, high quality, and current sources. Peer reviewed

articles, articles published in journals, textbooks, and library resources found in the Library are

examples of high quality resources.

? Note that Wikipedia, Investopedia, etc. are not considered as reliable resources for this

research.

Directions for Submitting

Submit your Assignment to the Unit 1 Assignment Dropbox by the end of Unit 1.

GB540 Economics for Global Decision Makers

Unit 3 Assignment

Assignment: Price Elasticity of Demand and Total

Revenue

It is highly recommended that you review the Seminar presentation located in the Seminar area

before beginning the 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.

Course outcome(s) practiced and assessed in this Assignment:

GB540-2: Examine microeconomic tools for purposes of problem solving, analysis, and decisionmaking.

Directions

? 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 your responses using empirical examples,

formulas, and graphs.

? 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?

Criteria

? Your Assignment should have a cover sheet with the following information: Title of the paper,

Your Name, Course Number and Section Number, and Date

? It must be a minimum of 5-pages long (excluding title page, references, etc.)

? Be sure to include the criteria located in the rubric below within your paper.

Unit 3 [GB540: Economics for Global Decision Makers]

2 of 2

? It must be APA formatted with citations to your sources and your last page should list all

references used. Review the APA formats found in the Writing Center.

? You must use a variety of two objective, high quality, and current sources. Peer reviewed

articles, articles published in journals, textbooks, and library resources found in the Library are

examples of high quality resources.

? Note that Wikipedia, Investopedia, etc. are not considered as reliable resources for this

research.

Directions for Submitting

Submit your Assignment to the Unit 3 Assignment Dropbox by the end of Unit 3.

GB540 Economics for Global Decision Makers

Unit 4 Assignment

Assignment: Fortune 500 Companies

Using a Global Fortune 500 company, you will complete a research paper that summarizes its history,

conduct a SWOT analysis, and address its future.

Course outcome(s) practiced and assessed in this Assignment:

GB540-3: Analyze the relationship between knowledge-based economic decision-making and

economic growth.

Directions

In this Assignment, you will select a Global Fortune 500 company (it cannot be a company you work

for) that operates in the United States and in other nations around the world. Make sure it is one you

are interested in and has plenty of good sources of information available.

A) Summarize the firm’s history, the economic, social, and political forces that affect it most.

B) Present recent and current operating results (financial performance) data in a table. Evaluate

the firm’s current and recent operating results. Analyze the major economic forces that affect

the firm. Discuss the key social and major political forces that affect the performance of the

firm.

C) Present a brief SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats).

D) Discuss the factors it will need to predict, plan for, and adjust to in the future.

Criteria

? Your Assignment should have a cover sheet with the following information: Title of the paper,

Your Name, Course Number and Section Number, and Date

? It must be a minimum of 5-pages long (excluding title page, references, etc.)

? Be sure to include the criteria located in the rubric below within your paper.

? It must be APA formatted with citations to your sources and your last page should list all

references used. Review the APA formats found in the Writing Center.

? You must use a variety of three objective, high quality, and current sources. Peer reviewed

articles, articles published in journals, textbooks, and library resources found in the Library are

examples of high quality resources.

? Note that Wikipedia, Investopedia, etc. are not considered as reliable resources for this

research.

Directions for Submitting

The Assignment is to be submitted to the Unit 4 Assignment Dropbox by the end of Unit 4

GB540 Economics for Global Decision Makers

Unit 6 Assignment

Assignment: Fortune 500 Companies

For this Assignment, you may use a Fortune 500 Company that you have already researched. The

focus here is on both domestic (American) and global operations. The Assignment incorporates how

the firm functions in different parts of the world and what it can do to maximize its effectiveness as a

global organization.

Course outcomes practiced and assessed in this Assignment:

GB540-4: Integrate concepts of regional, national, and global economic behavior with

macroeconomic theory.

PC-4.1: Assess the value of multiculturalism and diversity in a global environment.

Directions

Begin by reviewing the following websites as resources for your Assignment:

Organisation for Economic Co-operation and Development (OECD). (2017). Economic indicators.

Retrieved from http://www.oecd.org/std/oecdmaineconomicindicatorsmei.htm

U.S. Department of Commerce. (n.d.). Key economic indicators. Retrieved from

https://www.commerce.gov/economicindicators

U.S. Bureau of Labor Statistics. (n.d.). Major economic indicators. Retrieved from

https://www.bls.gov/bls/newsrels.htm

Select 6–10 macroeconomic indicators that are of particular relevance to your firm and explain how

they affect the performance of the company.

Outline strategies on how the firm should respond to the changes in the economic indicators with the

goal of maximizing revenues in the years ahead.

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?

Then, discuss the firm’s global operations, and their influences on the regional and national levels.

You also need to assess the value of multiculturalism and diversity in operating (managing) a

company in a global environment.

As you can see, the field is wide open for you to construct your paper in the most relevant way you

see fit.

Criteria

As part of the Assignment, you will need to include the following:

? Your Assignment should have a coversheet with the following information: Title of the paper,

Your Name, Course Number and Section Number, and Date

? It must be a minimum of 5-pages long (excluding the title page, references, etc.)

? Be sure to include the criteria located in the rubric below within your paper.

? It must be APA formatted with citations to your sources and your last page should list all

references used. Review the APA formats found in the Writing Center.

? You must use a variety of three objectives, high quality, and current sources. Peer reviewed

articles, articles published in journals, textbooks, and library resources found in the Library are

examples of high quality resources.

? Note that Wikipedia, Investopedia, etc. are not considered as reliable resources for this

research.

Directions for Submitting

Submit your Assignment to the Unit 6 Assignment Dropbox by the end of Unit 6.