Economics Assignment Topics: Select a business problem and propose a solution (or solutions) to the problem
Assignment Requirement: The exercise is to describe a business problem and propose a solution (or solutions) to the problem by applying the concepts learned in this course. A good choice would be an example from your current or past employment experience, though this is not required.
• Page limit (4-5 pages) that provides a clear and complete description of the problem, and a detailed and precise explanation of the solution(s) that is based.
Due date: Nov 21,2020
Assignment Objective: The course focuses on employing economic techniques and principles to the business setting. The course is intended to provide guidance on how market forces act in determining the opportunities facing individuals and firms. All areas of business – finance, marketing, business strategy – employ economic concepts, and so a primary purpose of this course is to develop the toolset that will be useful in those areas. Economics provides a unique way of thinking about problems and decisions faced by managers. This course explores this unique way of thinking using a framework that emphasizes the importance of incentives in determining human behavior, and the weighing of costs and benefits in making economic decisions. Particular attention will be paid to how to apply this way of thinking, and the analytical tools of economics, to practical business problems faced by managers.
Course Learning Objectives:
Apply economic reasoning to recognize business problems facing an
Use economic analytical tools to solve business problems facing an
Recognize and exploit opportunities for profit and value creation.
Think and act strategically.
Design pricing strategies to maximize profit.
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