1.) Discuss how “Managerial Economics helps business students become architects of business tactics and strategy

1.) Discuss how “Managerial Economics helps business students become architects of business tactics and strategy instead of middle managers who plod along the beaten path of others”. 2.) Business Week recently declared, “We have entered the Age of the Internet,” and observed that when markets for goods or services gain access to the Internet, more consumers and more businesses participate in the market. Use supply and demand analysis to predict the effect of e-commerce on equilibrium output and equilibrium price of products gaining a presence on the Internet. 3. Using optimization theory, analyze the following quotation: “If Congress cuts out the NASA space station, we will have wasted all the resources that we have already spent on it. Therefore, we must continue funding it.” 4. In terms of the consumer theory set forth in Chapter 5 of your textbook, explain the meaning of the following statement. “I’ll have to flip a coin to decide whether to buy chocolate chip or vanilla ice cream.” 5. Critical Analysis Report 1: Provide a brief summary of a current (within two months of the date of the assignment) article from a Business Publication (See Bibliography/References at the end of the syllabus.), dealing with the application of microeconomics to decision making. Provide an analysis and critique of one sentence from the article. In the analysis, students MUST indicate what microeconomics concept(s), principle(s), theory (theories), etc. is (are) being used (or implied) and if it (they) is (are) being used (or implied) correctly. The sentence being analyzed is also the sentence being critiqued. (In instances where more than one person is addressing the same issue, you will need to analyze and critique sentences for all involved.) Note that professional journal articles in economics are NOT listed in the above sources to be considered for this assignment. Remember: Students are to collectively choose the article being used and submit it to me for verification that it is acceptable, prior to submitting the assignment. The report MUST include an appendix which contains a copy of the section(s) of the article which is(are) relevant to your chosen statement, with the statement(s) being analyzed highlighted. Failure to include the section(s) of the article with the statement(s) being analyzed highlighted will result in a zero grade for the assignment. All graphs/tables are to be included in the body of the report. See the syllabus for further instructions. Submit Report 1.

 

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