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Microsoft Word - Sp 21 Takehome #3 Part II- Essay .docx 1 TAKE HOME QUIZ # 3 PART II : Essay XXXXXXXXXXDUE: Friday 3/26/21 11:30 pm on Canvas Graded: 11 points This essay will be graded based on the...

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Microsoft Word - Sp 21 Takehome #3 Part II- Essay .docx
1


TAKE HOME QUIZ # 3 PART II : Essay XXXXXXXXXXDUE: Friday 3/26/21 11:30 pm on Canvas

Graded: 11 points


This essay will be graded based on the quality and content of your micro thinking. This means
making connections through the lens of theory and ‘using the language of the lectures’ to discuss
these connections. Do not just write subjectively. Sound as a student of microeconomics by using
terms, concepts, even make graphing references if you wish, to create your written academic writing
as an analysis.

The micro discussion is based on the reading of the article entitled “Millennial’s’ Biggest Problem:
Daycare” It has been posted for you as a pdf in Module 5.

Topic/prompt
How can we apply what we are discussing in class to analyze micro-economically the events
and outcomes on the market for daycare? Use ‘the language of the lectures’ to build your
analysis. Your conclusion should be a short personal statement as a student of
microeconomics about how your understanding of this article is different now, from what it
would have been before taking the course.

[ Advice : it helps to ‘annotate’ in the margins micro concepts, terms you can make connections with
as you read.]

Instructions

1. Must have an introduction and a conclusion.
2. Required length: at least 500 words but no more than 700 words. Specify word count at
the end. Please note: any essay that is less than 300 words will not qualify for a grade.
3. Use at least 8 technical terms, underline in your text the words you want me to evaluate.
XXXXXXXXXXYour choice is evaluated so choose wisely. .
4. Do not retype parts of the article as part of your essay. I am assessing your words.
Paraphrase
efer to the text.
5. Do not do any outside research!! This assessment is based on your analysis
6. Beware of plagiarism. It is monitored. Do not copy/paste. Your submission will be jeopardized
7. Typed /double space / use font size


• METHOD OF SUBMISSION: On Canvas – click ‘assignments’. An assignment will be created for
the essay

Remember that you will be graded on
Ø How you used the classroom lectures, discussions, content we covered so far to create
connections around the topic
Ø The more the connections the richer the analysis
Ø The quality of terms you chose to use in creating your connections. Avoid the more basic
ones.

8. 11.



2
Answered 1 days After Mar 24, 2021

Solution

Parul answered on Mar 26 2021
156 Votes
Introduction
Millennials are termed given to the generation, which is born between the years 1980 until 1997 also known popularly the Internet generation (Baumol, W., & Blinder, A., 2011). This age is particularly unique since there are employees who are inducted in the workforce while there was tremendous opportunities to work yet dealing with lifestyle stress and pressure from work. Nevertheless, what we observe when Millennials are conceiving children and growing their family they are really struggling to manage both their professional life with the responsibilities of being a new parent (Baumol, W., & Blinder, A., 2011).
Market Research
By the virtue of the course, I would like to apply my microeconomic concepts and framework in practical real life scenario and based on that have analyzed daycare industry. As per Business Research, global size of daycare or childcare has reached to the value of approximately $400 billion in FY 2018. This reflects the growth at a tremendous rate of 8.3% (CAGR) taking the base of four years, FY 2014. It is projected to growth with a CAGR of 11.3% taking the market to be approximately $550 billion in next four years, FY 2022 (Cooper, R., & John, A., 2015).
Factor Market
This growth rate in the factor market of day care is dependent on economic growth rates coming from the developing countries, rise of education and more employability in the emerging markets. There are many countries where government are providing funding to develop child care centers like crèche and support day care especially when both the parents are working. This explains the concept of increasing marginal return. Demand of...
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