economic growth

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Journal entry questions are related to the application of the key concepts you learn to the real-world economic issues. The questions contain key economic principles and ideas related to the Macroeconomics topics you are learning. Please feel free to express your perspectives and state how the economic principles and ideas affect your economic decision making process. You should note that there is a limit to the number of words for the Journal entry. You can only enter the maximum 400 words.

Journal

  • According to economic growth theory, the level of the GDP and the rate of the real GDP growth rate have different economic implications about the economic well-being of a country. If you are given the options, would you rather live in a nation with a high level of GDP and a low growth rate or in a nation with a low level of GDP and a high growth rate? Why?
  • Economists consider education as an investment that has both private and social benefits. Education is also the major source of human capital, which is the most important form of capital for the long term economic growth. What is the opportunity cost of investing in human capital? Do you think a country can overinvest in human capital? What is the opportunity cost of attending college? Explain.

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Transportation Economics / TLMT312

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Assignment Instructions
Class: Transportation Economics / TLMT312
Course Text: Bowersox, D., Closs, D., Cooper, M., &Bowersox, J. (2013). Supply Chain Logistics Management, Fourth Edition. McGraw-Hill Education.
 
Instructions:
Please respond to the following;
TP 2: Text Page 246, Question 3
Under what conditions could it make sense to combine private and public warehouses in a logistical system?
 
Due Date:  Thursday midnight (central time zone)
Submission Instructions:
Please note the following information for your paper
Your submission should focus on providing realistic and viable solutions and/or alternatives. Each submission of 950-1150 words in length should demonstrate careful analysis, application, and, critical thinking. You should read and answer the questions and develop an analysis of at least two pages. All written submissions should be submitted in a font and page set-up that is readable and neat. It is recommended that students try to adhere to a consistent format, which is described below.

  • Typewritten in double-spaced format with a readable style and font
  • 12-point font Times New Roman styles.
  • Page margins Top, Bottom, Left Side and Right Side = 1 inch, with reasonable accommodation made for special situations and online submission variances.
  • Use at least 3 resources plus the course text in your reference listing and in-text citations.

MUST BE IN APA FORMAT ( REFERENCE, AND ENSURE YOU CITE ALL SOURCES IN-TEXT CITATIONS SEE INSTRUCTOR NOTES PREVIOUS PAPER ATTACHED.)
 
Assignments completed in a narrative essay or composition format must follow APA guidelines. This course will require students to use the citation and reference style established by the American Psychological Association (APA), in which case students should follow the guidelines set forth in Publication Manual of the American Psychological Association, Washington, D.C.: American Psychological Association.
 
 
I also want you to include in your paper and presentation the rubric provided below.
 

Rubric Category Point Val. Your Points
Paper meets the specified pages or word length, demonstrates thorough understanding of the reading assignment, reflects critical thought, and relates to course content and/or industry applications.Length required _ pages____, __ pages___ turned in. 5
Ideas and concepts are supported through resources and/or personal experiences. Case study exhibits truthful and verifiable statements. 2
Posts are free of writing errors (syntax, grammar, etc.)Try to avoid using needless fillers i.e. that. I did not count those as errors this time. Also, free of APA format errors.
___ Errors ” 1-4 =.9 5-7= .8, 8-10= .7, 11-12= .6, 13-14= .5, 15-17= .4, 18= .3, 19= .2, 20= .1, 21 or more 0.		 1
Total 8

 
 


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New House-Decision

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A New House ” Readiness
 
As I consider the purchase of a new home, there are many factors that can impact my final decision. The various factors are part of the 10 Principles of Economics (Mankiw, N. G., 2007, p. 3); and these principles determine the outcome of my decision to purchase a new home.
 
The Decision to Purchase a House
 
Trading one benefit for another is the first principle of economics (Mankiw, N. G., 2007, p. 4). Nonetheless, the choice to purchase another home for my family will oblige an alternate lifestyle, for example, family inviting neighborhoods spotted on the edge of a city.
 
Economies are made by individuals, organizations and more modest groups that, all in all, make an economy. These firms and households interact in the marketplace, where prices and self-interest guide their decisions. Financial markets and lifestyles will determine which community is better. The market economy is the sixth principle of economics (Mankiw, N. G., 2007, p. 9).
 
Sometimes we must decide between inflation or unemployment; this is a short-run economic trade-off, which can affect the decision to purchase a house now or wait until the market is better.
 
The marginal benefits and marginal costs are small but significant incremental change that can affect decisions to purchase a home (Mankiw, N. G., 2007, p. 6). Marginal costs may be upgrades in a home that will increase the value however is additionally a sought expansion that an individual is ready to pay for; marginal profits are all the more long haul like a steel casing house will cut costs of property holder”s protection, in light of the fact that the steel outline versus a wood edge is stronger and will keep going longer; it won”t crumble or maintain to the extent that from storms like typhoons as a wood edge house will encounter. It is this sort of marginal profit that will spare cash and give a rate of return through a finer quality, longer enduring home, and will spare cash on protection about whether.
 
 
References
Mankiw, N. G. (2007). Principles of economics (4th ed.). Mason, OH: South-Western Cengage Learning.


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Macroeconomic Analysis

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The Macroeconomic Paper tests your ability to apply economic principles to a business decision considering the impact of macroeconomic variables. Select one situation from the items outlined below: A to D. Complete the paper on the selected situation as specified below. The completed paper is a professional report and is due in Week 6 (260 Points). See the grading rubric at the end of this document. Be sure to use the DeVry library to find data, and avoid questionable sources, such as Wikipedia.
 
Each of the scenarios has a list of Macroeconomic areas you are to address, with sources, in your answer. Briefly you are to research and show how these apply to your scenario: GDP growth rate (20 points), the business cycle (30 points), fiscal policy and level of unemployment (50 points), monetary policy and interest rates (50 points), international trade (40 points), and demographics (20 points).
Situation A
Rick, your friend, runs a small manufacturing plant that produces parts for the auto industry. Rick is thinking of expanding his operations to meet the increasing demand from car manufacturers. Hearing of your taking this course in business economics, he asks you for advice on how to go about making the expansion decision.
 
At first you are reluctant to give investment advice, but then you happen to read the piece U.S. Auto Sales Estimates Cut as Confidence Slows Rebound on page 634 of the textbook. You suddenly realize that Rick needs to take a number of macroeconomic variables into consideration for the expansion decision. You decide to research the economy in terms of GDP growth rate, interest rates, level of unemployment, the business cycle, fiscal policy, monetary policy, international trade, and demographics. You want to provide Rick with the most informed advice possible.
Situation B
Your neighbor Cindy wants to start a contracting business for installing solar panels. She has heard of the cost savings that households and businesses can make each year by installing solar panels on their roofs. Cindy has also heard of government incentives for installing solar panels. Being concerned about the environment and wishing to reduce pollution, Cindy thinks installing solar panels also serves a good social purpose. But she does not want to risk her life savings on a venture that might not succeed or become profitable enough. After hearing from you about taking this course in business economics, she decides to ask you for advice.
At first you are hesitant to give investment advice. Then you read the piece Postal Service Considering Cutting 120,000 Jobs on page 668 of the textbook. You realize there are more pieces to the decision than Cindy is considering. You decide to research the economy in terms of GDP growth rate, interest rates, level of unemployment, the business cycle, fiscal policy, monetary policy, international trade, and demographics. You want to provide Cindy with the most informed advice possible.
Situation C
Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying four gas stations. He reckons American consumers have come to accept the high gasoline prices, and estimates world prices for gasoline to increase even further with high demand from India and China. Besides, Cousin Edgar thinks he will make a good profit on the sale of convenience items at each station. But before buying the gas stations, he decides to ask for your advice because you are taking this course in business economics.
You happened to read the piece Bank Lending Signals a Strengthening Economy on page 856 of the textbook. Cousin Edgar needs financing for his new business, but you realize there are more macroeconomic factors he needs to consider in timing his decision. You decide to research the economy in terms of GDP growth rate, interest rates, level of unemployment, the business cycle, fiscal policy, monetary policy, international trade, and demographics. You want to provide Cousin Edgar with the most informed advice possible.
Situation D
After hearing of your taking this course in business economics, Uncle Dan has e-mailed you asking for advice on his 100-acre corn farm. He mentioned how, after 30 years of growing corn, he wishes to leave that commodity”s market and enter a more profitable market instead. He is thinking of subdividing his land and building homes and shops. He reckons he could make a good profit by selling the homes and renting the shops.
Before you can find time to answer Uncle Dan”s e-mail, you read the piece Will the Fed”s New Policies Revitalize the Housing Market? on page 896 of the textbook. Recognizing the costs and risks for Uncle Dan in making the switch, you decide to research the economy in terms of GDP growth rate, interest rates, level of unemployment, the business cycle, fiscal policy, monetary policy, international trade, and demographics. You decide to educate yourself about macroeconomics so that you can provide Uncle Dan with the most informed advice possible.
 
Macroeconomic Paper as a Professional Report
Your paper should be organized into five parts as listed below.

  1. Title Page: Name, class, and date
  2. Introduction to situation but do NOT copy the scenario.Briefly summarize the situation and identify the macroeconomic issue(s) to be decided from the perspective of the organization.
  1. Relevant Economic Principles: Determinants of Demand, Supply, etc. and Relevant Data

Identify the variables that are critical in addressing the issue(s). Gather and present the relevant data on the variables by searching the DeVry Online Library. Ask a librarian for help if needed. Use in-text citation to report the source(s) of the data. Graphs may be included here.

  1. Recommendations and Economic Justification

Formulate and present your recommendations for addressing the issue(s) based on the relevant data and economic principles identified above. Justify your recommendations in terms of the economic impact on those affected.

  1. References

List the full references for at least five sources alphabetically in APA format.
Grading Rubric

Section Points earned Points Description
Paper Presentation  10 Good format, citations, lack of spelling errors, etc.; correct Title page and Reference page
Relevant Data:GDP, Business Cycle, International, Monetary Policy, Fiscal Policy, Demographics
 
 
 		 210
 		 GDP (20 points)Business Cycles, Unemployment, Inflation (30 points)
International (40 points)
Monetary Policy and interest rates (50 points)
Fiscal Policy and unemployment (50 points)
Demographics (20 points)
 
Recommendations 40  What are your recommendations explained by your analysis?
Total 260  

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