ECO100 Strayer WK9 Applying Macroeconomic Concepts to Personal Life Paper Assignment 2: Final Report Due Week 9, worth 175 points This assignment is alig

ECO100 Strayer WK9 Applying Macroeconomic Concepts to Personal Life Paper Assignment 2: Final Report

Due Week 9, worth 175 points

This assignment is aligned to this course outcome:

Apply macroeconomic concepts to current and personal economic events and decisions.

In addition to writing about macroeconomic concepts, it’s equally important to be able to convey your understanding of these concepts by communicating them to others. In the workplace you might do this by writing briefs (like you did for Assignment 1), creating presentations, or writing reports for your manager or team. An example final report and optional template are provided below.

For this Final Report assignment, you can build off your previous economic brief and selected industry from Assignment 1, or you can select another industry such as Finance and Insurance, Health Care, or Manufacturing, and examine one of the macroeconomic indicators or policies below:

GDP growth
Unemployment rates
Inflation rates
Interest rates
Imports and exports
Government fiscal policy and issues related to taxation, government spending, and budget deficits
FED (central bank) monetary policy and issues related to the FED’s mission to stabilize the economy

Example Final Report, Assignment 2 Template, Strayer Writing Standards

Review an example final report.
Use the optional template to help you get started.
Review the Strayer Writing Standards. (See Instructions below.)

Instructions

Use Microsoft Word to prepare a Final Report that is a minimum of two to three (2-3) pages long in which you:

1. Introduce your selected industry with a brief one-paragraph introduction. Refer to the NAICS (North American Industry Classification System) to review the details about your industry.

2. Assess your selected industry’s relative size and growth rate in the economy.

These macroeconomic resources will help you find the size and growth rate of your industry in the U.S. economy and/or relative to GDP:

• Real GDP – Select Section 1, then table 1.1.6 (select MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov).

• % Change in Real GDP – Select Section 1, then table 1.1.1 (select MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov).

• GDP by Industry – Steps:

1. Select “Interactive Data.”
2. Select “Industry Data Tables.”
3. Select “Begin Using the Data.”
4. Select “Gross Output by Industry.”
5. Select “Real Gross Output by Industry (A) (Q).”
6. Select “Quarterly” or “Annual.”
7. Select “Next Step.” Data is from Bureau of Economic Analysis (bea.gov).

• % Change in GDP by Industry – Steps:

1. Select “Interactive Data.”
2. Select “Industry Data Tables.”
3. Select “Begin Using the Data.”
4. Select “Gross Output by Industry.”
5. Select “Percent Changes in Chain-Type Quantity Indexes for Gross Output by Industry (A) (Q).”
6. Select “Quarterly” or “Annual.”
7. Select “Next Step.” Data is from Bureau of Economic Analysis (bea.gov).

3. Identify one newsworthy macroeconomic indicator or policy (e.g., GDP, unemployment, inflation rates, interest rates, government taxation and spending decisions, and/or FED decisions) that the industry should monitor and explain why it’s important and how it might impact your selected industry.

These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies.You’ll use one or more depending on the macroeconomic indicator selected.

• Unemployment rates – Data is from Bureau of Labor Statistics (bls.gov).

• Inflation rates as measured by the Consumer Price Index (CPI). Data is from Bureau of Labor Statistics (bls.gov).

• % Change in Real Exports and Imports – Select Section 4, then table 4.2.1. (Select MODIFY to change the year range and frequency.) Data is from Bureau of Economic Analysis (bea.gov).

• Government receipts, expenditures, and savings – Select Section 3, then table 3.1 for total government and table for 3.2 for federal government. (Select MODIFY to change the year range and frequency.) Data is from the Bureau of Economic Analysis (bea.gov).

• FED Funds Interest Rates. Data is from Trading Economics (tradingeconomics.com).

4. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend.

5. Summarize how you think this industry will perform in the future. Provide support for your rationale.

6. This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.)

Your brief should include a cover page.
Your brief should be a minimum of two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font.
Your report should include a minimum of two (2) references/citations in the text. Computer and Peripheral Equipment Manufacturing
Example Economic Brief
ECO100: Principles of Economics
Strayer University
Professor Jean Nzumgang Fonkoua
August 5, 2018
Computer and peripheral equipment manufacturing industry is one of the leading
industries in technology and innovation in the global economy, and the American companies in
this industry have a large market share. The main driving engines of the industry are innovations
and inventions (1). Smartphones, laptop and desktop computers, tablets, the internet of things
technologies, network technologies, and other information and communication tools are
produced in this industry. Digitalization of information and analysis of large data sets are some
important developments in this industry nowadays. Also, we observe that many companies are
spending effort on developing materials used in electronics. For instance, developments in the
field of energy storage and production might open new doors for improvement in the industry.
Subsequently, it is quite possible to claim that there is no upper limit of development in this
industry.
Considering that innovation has a very crucial role in competition in this market, this
market is a monopolistic competitive market. Rational customers in the market follow the
technological development, and they aim at purchasing the possible highest technology with the
possible lowest price; the companies operating in this market spend effort for differentiating their
products to make their customers believe that their products are superior to the others. The
companies heavily use advertisement and promotion campaigns, and creating loyalty among
their customers is very critical for them. In other words, they spend effort on gaining relatively
higher monopoly or competition power in the short-run, to be able to play around the prices of
their products to maximize their profits. However, it is not possible to continue this strategy in
the long-run because investing large financial resources in advertisement and promotion
campaigns, is not feasible for the companies in the long-run. Although the market structure is
monopolistic competitive, the number of companies operating in this market is limited.
2
Therefore, it may not be an exaggeration to name this market as an oligopolistic competitive
market, at least in the short run (2). However, considering that there might be new entrances to
the market after the leading technologies are disseminated to the other companies, this market
structure might turn into a monopolistic competitive market in the long-run.
Graph 1: Labor Productivity
Source: US Bureau of Labor Statistics
3
This industry uses a high-quality labor force in the market and pays one of the highest
annual mean wages to the workers, over USD 95,000 (2). That means, the labor productivity is
quite high in the industry. Also, the labor force is supported by high-technology machinery, and
that means, any new entrant needs to make a significant investment (2). However, on the other
side, some small-sized companies might develop critical technological innovations and sell it to
the large companies in this industry. We observe that the large technology companies purchase
some small technology developing companies, to enhance their innovation capacities. In other
words, there exists a high entry barrier for the small companies to enter the market, which
reinforce the idea of oligopolistic competition.
Apple, Microsoft, Google, Samsung, Google, and Huawei are among the most important
producers in this market (2). These companies have the leading position in the market, and all
these companies outsource their production activities to the developing nations for optimizing
their production costs. Also, these companies hire high-quality engineers and professionals to be
a leader in their markets. Consequently, these companies have a high power of competition in the
market. Therefore, entering this market as a small or medium sized company, is not possible and
feasible. In other words, the competition is quite limited in the market, and even it is possible to
say that government intervention is necessary for increasing the efficiency in the market. Google
has been sentenced to pay a sizeable financial bill in Europe recently, and we all know the case
of Microsoft’s monopoly in the last decade. It is possible to see similar cases shortly because
these companies are still leading the market, and their innovation capacity is very high.
Therefore, they might share the global market easily among them. In other words, we would
expect a monopolistic competition in this market because of the high innovation capacity, but we
observe that these companies are sharing the global market with a secret agreement or hidden,
4
unknown way. For instance, while Apple sells its products to the customers with relatively higher
incomes, Samsung, Huawei, and other brands are preferred by the people with relatively lower
incomes. In some professions, only some specific brands or software is preferred to the others.
Also, we observe that each company has different advertisement companies. By only analyzing
the advertisement strategies of the companies, it is possible to understand how the global market
is shared.
Considering that using high-technology products does not provide only a direct utility,
but also a prestige to the users, this market will be lively in the future. This situation is expected
to increase the competition in the market. Also, the patents owned by the large companies
nowadays will expire in the next decade, and the other companies can easily develop some new
technologies built on the revealed patented technologies of the large companies. Consequently, it
is highly possible to expect the formation of a competitive industry in the future.
5
Sources
1. Greenlaw, S. A., Shapiro, D., & Taylor, T. (2018). Principles of economics 2e (2nd ed.).
Houston, TX: OpenStax College, Rice University.
2. Ju, J. (2002). Oligopolistic Competition, Technology Innovation, and Multiproduct
Firms. Review Of International Economics, 11(2), 346-359. doi: 10.2139/ssrn.298722
6
Name: Assignment 2 Rubric
Description: Assignment 2: Final Report
Exit
•
•
Grid View
List View
Meets Minimum
Expectations
60-69% D
Exemplary
90-100% A
Proficient
80-89% B
Fair
70-79% C
1. Introduces the
selected industry with a
brief one-paragraph
introduction.
Points
Range:15.75 (9%) 17.5 (10%)
The student
correctly and
thoroughly
introduces the
selected industry
with a oneparagraph
introduction.
Points
Range:14 (8%) 15.58 (8.9%)
The student
introduces the
selected industry
with a oneparagraph
introduction.
Excludes some
minor details.
Points
Range:12.25 (7%) 13.82 (7.9%)
The student
partially introduces
the selected
industry with a oneparagraph
introduction.
Excludes major
details.
Points
Range:10.5 (6%) 12.08 (6.9%)
The student
attempted to
introduce the
selected industry
with a oneparagraph
introduction.
2. Assesses the size
and/or growth rate of
the industry relative to
the national economy.
Points
Range:31.5 (18%) 35 (20%)
The student
correctly and
thoroughly
assesses both the
relative size and
relative growth rate
of the industry in
the national
economy.
Points
Range:28 (16%) 31.15 (17.8%)
The student
correctly assesses
the size and/or
growth rate of the
industry in the
national economy.
Excludes some
minor details.
Points
Range:24.5 (14%) 27.65 (15.8%)
The student
partially assesses
the size and/or
growth rate of the
industry in the
national economy.
Excludes major
details.
Points
Range:21 (12%) 24.15 (13.8%)
The student
attempted to
assess the size
and/or growth rate
of the industry in
the national
economy.
3. Identifies one
newsworthy
macroeconomic
indicator or policy that
the industry should
monitor and explains its
importance and how it
may impact the industry.
Points
Range:47.25 (27%) 52.5 (30%)
The student
correctly identifies
one or more
macroeconomic
indicators or
policies that the
industry should
monitor and
provides strong
supporting details
about its
importance and
how it may impact
the industry.
Points
Range:42 (24%) 46.72 (26.7%)
The student
correctly identifies
a macroeconomic
indicator or policy
that the industry
should monitor and
provides strong
supporting details
about its
importance and
how it may impact
the industry.
Points
Range:36.75 (21%) 41.48 (23.7%)
The student
correctly identifies
a macroeconomic
indicator or policy
that the industry
should monitor but
does not provide
sufficient
supporting details
about its
importance and
how it may impact
the industry.
Points
Range:31.5 (18%) 36.22 (20.7%)
The student
attempted to
identify a
macroeconomic
indicator or policy
that the industry
should monitor. No
sufficient
supporting details
were provided
about its
importance and
how it may impact
the industry.
Exemplary
90-100% A
Proficient
80-89% B
Fair
70-79% C
Meets Minimum
Expectations
60-69% D
4. Describes a recent
trend in the macroeconomic indicator or
policy in part 3. Includes
a graph, table, or chart
that illustrates the
observed trend.
Points
Range:31.5 (18%) 35 (20%)
The student
correctly and
thoroughly
describes a recent
trend in the macroeconomic indicator
and/or policy in part
3. Includes a
graph, table, or
chart that illustrates
the observed trend.
Points
Range:28 (16%) 31.15 (17.8%)
The student
correctly describes
a recent trend in
the macroeconomic indicator
and/or policy in
part 3. Includes a
graph, table, or
chart that illustrates
the observed trend.
Points
Range:24.5 (14%) 27.65 (15.8%)
The student
partially describes
a recent trend in
the macroeconomic indicator
and/or policy in part
3. Includes a
graph, table, or
chart that may or
may not illustrate
the observed trend.
Points
Range:21 (12%) 24.15 (13.8%)
The student
attempted to
describe a recent
trend in the
macroeconomic
indicator and/or
policy in part 3. No
graph, table, or
chart that illustrates
the trend was
provided.
5. Summarizes how the
industry will perform in
the future. Provides
support for their
rationale.
Points
Range:15.75 (9%) 17.5 (10%)
The student
thoroughly
summarizes how
they think the
industry will
perform in the
future. Provides
strong support for
their rationale.
Points
Range:14 (8%) 15.58 (8.9%)
The student
summarizes how
they think the
industry will
perform in the
future. Provides
reasonable support
for their rationale.
Points
Range:12.25 (7%) 13.82 (7.9%)
The student
partially
summarizes how
they think the
industry will
perform in the
future. May or may
not have provided
reasonable support
for their rationale.
Points
Range:10.5 (6%) 12.08 (6.9%)
The student
attempts to
summarize how
they think the
industry will
perform in the
future. Does not
provide reasonable
support for their
rationale.
6. Uses (SWS) Strayer
Writing Standards to
write professionally and
cite sources.
Points
Range:15.75 (9%) 17.5 (10%)
Follows all writing
standards. Meets
page minimum.
Meets minimum
reference/citation
requirement.
Points
Range:14 (8%) 15.58 (8.9%)
Follows most
writing standards.
Meets page
minimum. Meets
minimum
reference/citation
requirement.
Points
Range:12.25 (7%) 13.82 (7.9%)
Follows some
writing standards.
May not meet page
minimum. May not
meet minimum
reference/citation
requirement.
Points
Range:10.5 (6%) 12.08 (6.9%)
Follows few writing
standards. May not
meet page
minimum. May not
meet minimum
reference/citation
requirement.
Meets two-page
minimum.
Meets two minimum
reference/citation
requirement.
Name:Assignment 2 Rubric
Description:Assignment 2: Final Report

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