Assignment 1: Economic Brief
Due Week 5, worth 175 points
This assignment is aligned to these course outcomes:
· Explain economic principles and their applications in the real world.
· Summarize the different types of market structures and the role of government in economics.
In the workplace, we are often asked to create “briefs.” A brief provides a snapshot, or short, written summary, of a situation or event that has occurred. It is generally just a few pages long and may include additional visuals like a graph, chart, or table. In this assignment, write a brief about economic concepts in an industry that interests you.
Industry Selection and Background Resources
Use this resource to select an industry:
· NAICS (North American Industry Classification System)
These resources are available to help you identify a U.S. industry and the products and services it provides:
· Mergent Online
Help Video on Mergent Industry Reports
· Business Source Complete
United States Industry Profiles
All Industry Profiles by Country (select Industry Profiles in the left menu Source Types)
· Flipster Online Magazines
Scroll through to view these recommendations: Bloomberg Businessweek and Fast Company
Preparation
- Begin this assignment by selecting an industry (and/or subsector) from the NAICS list.
- To best prepare for this assignment, it will be important to review the industry background resources above, The Little Book of Economics and the Principles of Economics chapter readings, as well as your prior discussion board questions and responses.
- Use the optional template to help you get started.
- Get familiar with the Strayer Writing Standards (SWS). (See Instructions below.)
Instructions
Develop an economic brief that is two to three (2-3) pages long in which you:
- Select an industry and describe the goods and/or services this industry produces. Pick an industry from the NAICS list.
- Identify this industry’s market structure and at least two or more market characteristics that support this market structure. (Market structures are covered in Weeks 3 and 4.)
- Describe any notable microeconomic relationships, market outcomes, and/or trends in this industry. Include a graph, chart, or table containing related data XXXXXXXXXXMicroeconomic relationships and market outcomes are covered in Weeks XXXXXXXXXXthrough 4.)
- How might government impact this industry’s market prices, output, and/or market structure? (Government intervention through price controls, industry regulations, and antitrust enforcement is covered in Weeks 2 and 4.)
5. This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to reviewtheSWS documentationfor details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.)
- Your brief should include a cover page.
o Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font.
o Your brief should include a minimum of one (1) reference/citation in the text.