Business Economics I 3 Credit Equivalent

Identify, analyze, and evaluate the microeconomic factors for business decisions.

Projects

Number Title Description Credit Equivalent
BEI 100 Microeconomic Market Analysis I

In this project, students will analyze the market that they work in or in or worked in at some point in your life. (What is the product/service? What are the product characteristics? Who are the consumers? Who are the competitors?). They will also identify any changes in prices and the reasons/factors behind the change. They will then use supply and demand model to explain a recent price and/or output change in the market place. Finally, they will come up with a hypothetical economic change that can impact the future price and output/production in the market and explain their reasoning with the supply/demand model. The goal of this project is to make students aware of the importance of analyzing both consumption and production sides of any market. And make them identify the factors behind changes in consumption or production sides of the market that ultimately would lead to changes in the equilibrium prices and production levels.

Required text: McEachern, W. A. Microeconomics: A contemporary introduction. 9th Edition (2012). Mason, OH: South-Western Cengage Learning. ISBN: 978-0538453714.

1
BEI 105 Microeconomic Market Analysis II

In this project, students will identify a microeconomic issue or a problem that challenges students to do an in-depth analysis of a market/industry. Focus Project #2 has 5 parts: Proposal, Survey Design, First Draft, Final Draft, and presentation video. Student will identify industry and market characteristics, and key economic actors (firms, government regulations, and competition). The economic arguments of the stake holders (firms, consumers and the government) will be provided. Survey will teach students how to design an online survey to gather public input about the topic. This is an important step as survey provides them a real life data and an empirical foundation while literature review and other theoretical economic models (Focus Project#2: First Draft) will provide them a theoretical foundation. In an ideal project report (Focus Project#2: Final Draft), both theoretical and empirical foundations are needed to ground the ideas and theories. In their policy recommendations, students will be expected to provide a comprehensive list of supporting arguments and a possible list of unintended consequences

Required text: McEachern, W. A. Microeconomics: A contemporary introduction. 9th Edition (2012). Mason, OH: South-Western Cengage Learning. ISBN: 978-0538453714.

Prerequisites:

  • BEI 100: Microeconomic Market Analysis I

    BEI 100: Microeconomic Market Analysis I

    In this project, students will analyze the market that they work in or in or worked in at some point in your life. (What is the product/service? What are the product characteristics? Who are the consumers? Who are the competitors?). They will also identify any changes in prices and the reasons/factors behind the change. They will then use supply and demand model to explain a recent price and/or output change in the market place. Finally, they will come up with a hypothetical economic change that can impact the future price and output/production in the market and explain their reasoning with the supply/demand model. The goal of this project is to make students aware of the importance of analyzing both consumption and production sides of any market. And make them identify the factors behind changes in consumption or production sides of the market that ultimately would lead to changes in the equilibrium prices and production levels.

    Required text: McEachern, W. A. Microeconomics: A contemporary introduction. 9th Edition (2012). Mason, OH: South-Western Cengage Learning. ISBN: 978-0538453714.

2
Number
BEI 100
Title
Microeconomic Market Analysis I
Description

In this project, students will analyze the market that they work in or in or worked in at some point in your life. (What is the product/service? What are the product characteristics? Who are the consumers? Who are the competitors?). They will also identify any changes in prices and the reasons/factors behind the change. They will then use supply and demand model to explain a recent price and/or output change in the market place. Finally, they will come up with a hypothetical economic change that can impact the future price and output/production in the market and explain their reasoning with the supply/demand model. The goal of this project is to make students aware of the importance of analyzing both consumption and production sides of any market. And make them identify the factors behind changes in consumption or production sides of the market that ultimately would lead to changes in the equilibrium prices and production levels.

Required text: McEachern, W. A. Microeconomics: A contemporary introduction. 9th Edition (2012). Mason, OH: South-Western Cengage Learning. ISBN: 978-0538453714.

Credit Equivalent
1
Number
BEI 105
Title
Microeconomic Market Analysis II
Description

In this project, students will identify a microeconomic issue or a problem that challenges students to do an in-depth analysis of a market/industry. Focus Project #2 has 5 parts: Proposal, Survey Design, First Draft, Final Draft, and presentation video. Student will identify industry and market characteristics, and key economic actors (firms, government regulations, and competition). The economic arguments of the stake holders (firms, consumers and the government) will be provided. Survey will teach students how to design an online survey to gather public input about the topic. This is an important step as survey provides them a real life data and an empirical foundation while literature review and other theoretical economic models (Focus Project#2: First Draft) will provide them a theoretical foundation. In an ideal project report (Focus Project#2: Final Draft), both theoretical and empirical foundations are needed to ground the ideas and theories. In their policy recommendations, students will be expected to provide a comprehensive list of supporting arguments and a possible list of unintended consequences

Required text: McEachern, W. A. Microeconomics: A contemporary introduction. 9th Edition (2012). Mason, OH: South-Western Cengage Learning. ISBN: 978-0538453714.

Prerequisites:

  • BEI 100: Microeconomic Market Analysis I

    BEI 100: Microeconomic Market Analysis I

    In this project, students will analyze the market that they work in or in or worked in at some point in your life. (What is the product/service? What are the product characteristics? Who are the consumers? Who are the competitors?). They will also identify any changes in prices and the reasons/factors behind the change. They will then use supply and demand model to explain a recent price and/or output change in the market place. Finally, they will come up with a hypothetical economic change that can impact the future price and output/production in the market and explain their reasoning with the supply/demand model. The goal of this project is to make students aware of the importance of analyzing both consumption and production sides of any market. And make them identify the factors behind changes in consumption or production sides of the market that ultimately would lead to changes in the equilibrium prices and production levels.

    Required text: McEachern, W. A. Microeconomics: A contemporary introduction. 9th Edition (2012). Mason, OH: South-Western Cengage Learning. ISBN: 978-0538453714.

Credit Equivalent
2