Kaplan GB 540 Complete Course
Kaplan GB 540 Complete Course
IF You Want To Purcahse A+ Work then Click The Link Below For Instant Down Load http://www.hwprofile.com/?download=kaplan-gb-540-entire-course IF You Face Any Problem Then E Mail Us At [email protected] Gb540 unit 1 Assignment (Case study) Assignment Directions All problems below are to be completed and submitted to the Unit 1 Dropbox by the end of Unit 1. 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 such as pollutions. For an additional example for a social problem, where supply and demand is not allowed to freely function, read the “Last Word” feature on markets for human organs on Pages 68–69 of your textbook. 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. You can write your research about social problems where the free markets are not allowed to function, which includes the market for a particular illegal good or service, a 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. Byrational 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-interestis 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 theinvisible 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 society’s 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.
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 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 individual’s 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.
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.
Unit 1 Assignment All 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? omestic and Global Economic Markets – Discussion Discussion 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.
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.
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.
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 group’s 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.
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.
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.
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. •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 Activity Discussion 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.
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. Case Study Go to the website for reports on Global Competitiveness at: 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 4 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. 1. Summarize the firm’s history, its recent and current operating results, and the economic, social, and political forces that affect it most. 2. Present a brief SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). 3. 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.
Unit 5: The Banking System
Discussion Question 1 of 3 Fiscal policy refers to the changes in government’s 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: 1. 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? 2. What is the relationship between budget deficits and national (public) debt? Why has the USA national debt been increasing for decades? 3. 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. 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: 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.
Unit 5 case Case 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 theWebliography. 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.
New case -UNIT 5
By increasing the money supply, the Federal Reserve can lower interest rates. This has a broad impact on the economy as mortgages, business loans, etc. can be obtained less expensively. Some economists believe that the money supply increases contributed to a housing bubble and the subsequent housing market crisis of 2008-09. They suggest that this event is an example of how the Fed can create recessions by artificially encouraging bad investment decisions, and that the same pattern can be seen in the tech stock bubble of the late 1990s and other recessions even as far back as the Great Depression. Evaluate this view of the cause of recessions. Do you agree or disagree? Why?
Unit 6: International Economic and Emerging Economies Discussion 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. Discussion Question 2 of 3 A balance of trade (trade balance) is the difference between the monetary values of exports and imports of a country’s 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 country’s currency. 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. 1. What are the impacts of currency devaluation and revaluation on international trade? 2. What are the factors that increase and decrease the demand for a foreign currency? 3. 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? 4. What is currency war? How does it affect trade between countries?
Unit 6 case Case 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 6 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 firm’s 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.
GB540 Unit 6 Assignment Rubric Content and Analysis Points Possible Points Earned 10 Presentation includes an appropriate analysis of the firm’s 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 firm’s 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 firm’s 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