ECON545 Paper Project 2

I want the entire report in detail.

Title Page: Name, class, and dateIntroduction 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.Business cycles, unemployment, inflation, international—comparative advantage, exchange rates, trade, etc., monetary policy and interest rates, and fiscal policy and unemployment. 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.Recommendations and Economic JustificationReferences

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

ECON545 Paper Project 2

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 (200 points). See the grading rubric at the end of this document. For sources of
data, you can choose from the list presented at the end of this document.
Each of the scenarios has a list of macroeconomic areas you are to address, with sources, in your answer.
Research and show how these apply to your scenario: GDP growth rate (20 points), the business cycle,
unemployment, and inflation (40 points), fiscal policy and level of unemployment (40 points), monetary
policy and interest rates (40 points), and demographics (10 points).
Situation A
Jenny, your niece, is a smart high-school student who wants to make smart choices for her future. Hearing of
your course in Business Economics, she has emailed you asking for advice on whether to become a medical
doctor and on the best location to practice it. She recognizes the high costs of tuition and the years of study
involved in becoming a doctor. She wants to evaluate if that career choice is an optimum decision for her. So
she has asked you for advice.
Having read the introduction to Chapter 1 on page 3 of the textbook, you recognize the significance of such a
career decision for Jenny. You decide to examine the significance of the influence that macroeconomic
conditions can have on the success of a profession. So you 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 Jenny with the most informed advice possible. In addition to
macroeconomic issues, you also evaluate the career choice from longer-term perspectives.

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 from installing solar panels on the roofs.
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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 social
purpose. But she does not want to risk her lifes 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 were hesitant to give investment advice. Then you read the section Losing Money in the Solar
Panel Industry on pages 402-403 of the textbook, and the need for differentiation in Chapter 13. You realize
there are more pieces to the decision than Cindy is considering. You decide to research the significance of
the influence that macroeconomic conditions can have on the success of a business. So you 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. In addition to macroeconomic issues, you also evaluate the business idea from longer-term
perspectives.

Situation C
Cousin Edgar is always thinking of the next business idea. This time, he plans to invest in buying two gas
stations. He reckons American consumers have come to accept the high gasoline prices, and estimates world
prices for gasoline will increase even further due to increasing 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 since you are taking this course in Business
Economics.
You recall reading about making pricing decisions for gasoline on pages 173-174 of the textbook. You also
recall reading about perfectly competitive markets in Chapter 12, and the need for differentiation in Chapter
13. Being skeptical of Cousin Edgars optimism on the profitability of selling gasoline and convenience items,
you decide to research the significance of the influence that macroeconomic conditions can have on the
success of a gas station. So you 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. In addition to macroeconomic issues,
you also evaluate the gas station idea from longer-term perspectives.

Situation D

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After hearing of your taking this course in Business Economics, your college friend has emailed you asking for
advice on opening a restaurant. Your friend Rajeev reminded you of his popular recipes for Indian food, and
shared his dream of building a franchise business modeled on the P.F. Chang chain of restaurants. He reckons
that creating special fusion recipes based on a popular ethnic cuisine will provide the restaurant chain with
sufficient differentiation to become profitable and to grow nationwide.
Luckily before you could find time to answer Rajeevs email, you read the pieces on Starbucks and opening a
restaurant, on page 425 of the textbook. Recognizing the costs and risks for Rajeev, you decide to research
the significance of the influence that macroeconomic conditions can have on the success of a restaurant. So
you 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 the restaurant business so you can provide Rajeev with the most informed advice possible. In addition
to macroeconomic issues, you also evaluate the restaurant idea from longer-term perspectives.
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.
3. Business cycles, unemployment, inflation, internationalcomparative advantage, exchange rates,
trade, etc., monetary policy and interest rates, and fiscal policy and unemployment. 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.
4. 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.
5. References
List the full references for at least five sources alphabetically in APA format.
Grading Rubric
Section
Paper Presentation
Relevant Data:
ECON545

Points
earne
d

Points
10

Description
Good format, citations, lack of spelling errors, etc.
Correct title page and reference page
GDP (20 points)
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GDP, Business
Cycle, International,
Monetary Policy,
Fiscal Policy,
Demographics

130

Business cycles, unemployment, inflation (40 points)
Monetary Policy and interest rates (30 points)
Fiscal policy and unemployment (30 points)
Demographics (10 points)

Recommendations

40

What are your recommendations explained by your analysis?

Total

180

A quality paper meets or exceeds these requirements

Data Sources
1. DeVry Online Library:




Data bases for related articles
Data bases for industry reports; IBISWorld in particular.
ProQuest Statistical Abstracts of U.S.:
http://library.devry.edu/pdfs/STATISTICAL_ABSTRACTS__US.pdf

2. Industry Associations




Association of American Medical Colleges: https://www.aamc.org/
American Medical Association (AMA): http://www.ama-assn.org/ama
Council on Graduate Medical Education (COGME):







http://www.hrsa.gov/advisorycommittees/bhwadvisory/cogme/
National Center for Health Statistics (NCHS): http://www.cdc.gov/nchs/
Solar Energy Industries Association: http://www.seia.org/
The Solar Foundation: http://www.thesolarfoundation.org/
The National Restaurant Association: http://www.restaurant.org/
NACS - The Association for Convenience & Fuel Retailing:
http://www.nacsonline.com/Pages/default.aspx

3. Private Research Groups




http://www.sca.isr.umich.edu/
The Conference Board: https://www.conference-


ECON545

The Rand Corporation: http://www.rand.org/
University of Michigan: http://css.snre.umich.edu/;

board.org/data/bcicountry.cfm?cid=1
OECD: http://www.oecd.org/eco/economicoutlook.htm
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IMF: http://www.imf.org/external/pubs/ft/weo/2015/01/

4. U.S. Government Websites:


Statistical Abstracts of U.S.: https://catalog.data.gov/dataset/statistical-










abstract-of-the-united-states
International Trade Administration: http://www.trade.gov/
National Renewable Energy Laboratory: http://www.nrel.gov/
National Center for Health Statistics: http://www.cdc.gov/nchs/
U.S. Department of Energy: http://www.energy.gov/
U.S. Energy Information Administration: http://www.eia.gov/
Bureau of Labor Statistics: http://www.bls.gov/
Bureau of Economic Analysis: http://www.bea.gov/
Lawrence Berkeley National Laboratory (Berkeley Lab):



https://www.lbl.gov/
U.S. Census Bureau: http://www.census.gov/;
http://www.census.gov/econ/bes/; http://www.census.gov/economic-



indicators/
U.S. Department of Commerce: http://www.commerce.gov/;
http://export.gov/; http://business.usa.gov/;



http://www.esa.doc.gov/content/indicators
Statistical Abstracts of U.S.: https://catalog.data.gov/dataset/statisticalabstract-of-the-united-states; https://catalog.data.gov/dataset?
q=business+expense&sort=none&ext_location=&ext_bbox=&ext_prev_ex
tent=-142.03125%2C8.754794702435617%2C59.0625%2C61.77312286453146

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