Economics

Read chapter 7of McKenzie and Lee book found at this link: https://books.google.com/books?id=tjxyDAAAQBAJ&pg=PA1&source=gbs_toc_r&cad=4#v=onepage&q&f=false Then research and write a response to the following: Suppose that your team has been hired by a high-tech, consumer electronics firm to provide an economic analysis of how to price this new product in such a way that maximizes the company’s profits. In today’s technologically driven world, there are some people who enjoy becoming the first adopters of a new product. Most people, however, seem to hold back to see the development of the product before they jump in. Are there any strategies that the firm can take so that they can fully use the knowledge of the relative elasticities? As a result, you will need to investigate what market separation is. Is there any way that we can use market separation on the two markets and increase revenues? In these sorts of markets, we might also see lagged demand and network effects. What sort of pricing strategies do firms have to follow when these conditions are present?

Your term project is an integrative summary of seven short papers each of which must be at least three pages long.  These papers may be from the academic literature or current news on drug controls, the drug war, history of illicit or psychoactive drugs or drug policies from anywhere in the world. You may select articles from journal articles or working papers on Drug Policies, Economic Analysis, Economic Historical Analysis, Medical History, Scientific Analysis, International Diplomacy, and Social and Philosophical Analysis.   Finally, the documents you cite must include research papers, magazine articles, newspaper article or government policy documents published during the last 10 years. Your bibliography topic must be narrow and specific.  You cannot select papers that address the War on Drugs in general. An example of an acceptable topic could be “The Medellin Cartel: It’s Rise and Fall” or Comparing the Methods of Pablo Escobar and Other Drug Gangs or How the Dutch Profited from the Trade in Opium and Why and When they Ceased to Trade in Opium   The bibliographical selection may address topics from the examples listed below or other topics that you may select: Comparative international policies Historical analysis of policies in different countries Socio-Economic analysis of drug policies Social and Psychological Issues of Drug Use and Policies The Politics and Economics the War on Drugs International Drug Cartels and their Activities / Violence and Corruption European colonialism and the drug trade in history Foreign Trade and the History of Drugs (Opium and Cocaine) As stated clearly, the Term Project must be an annotated bibliography.  In annotated bibliography, you identify several documents to review, which may include books, monographs, articles and even news publications. You then summarize each article below a bibliographical citation of the article or document.  After all the summaries of each article or document individually, you write an integrative summary of all the bibliographical references. This Integrative Summary must precede all the individual summaries.   Please see attached document for an illustration.  All projects must follow this format or you will be penalized.  If you have already submitted your project in a different format, you may request that the instructor clear your submission to permit you to resubmit.

• Write an individual essay about the economics of the COVID-19 pandemic of 2020 • Carefully identify and evaluate the economic problems of the pandemic. • Apply economic theories from the history of economic thought discussed during this module. • Critically evaluate the strength and limitations of these theories. • Formulate a balanced judgment in your conclusions on the usefulness of these economics theories for understanding and addressing the problems caused by the pandemic. 1. Introduction Heilbroner, ch. 1, 2; Foley, preface; Landreth & Colander, ch. 1–3 2. Adam Smith Heilbroner, ch. 3; Foley, ch. 1; Landreth & Colander, ch. 4. 3. David Ricardo and Thomas Malthus Heilbroner, ch. 4; Foley, ch. 2; Landreth & Colander, ch. 5 4. Karl Marx Heilbroner, ch. 5, 6; Foley, ch. 3; Landreth & Colander, ch. 6, 7 5. The Marginalist Revolution Heilbroner, ch. 7, Foley, ch. 4; Landreth & Colander, ch. 8–10. 6. Keynes Heilbroner, ch. 9, Foley, ch. 5; Landreth & Colander, ch. 15 7. Institutional Economics 1 8. German Historical School 9. Austrian and Neoliberal Economics 10. Recent Trends in Economic Thinking 11. Economic Methodology

Please watch the video below. https://youtu.be/nJHexFKFcEQ https://youtu.be/_6INqNwFF20 Reflect on two documents: (To receive full credit, you must respond and comment on two other students) (1) Why we Took Coca Out of Coca-Cola (2) Cocaine out of Coca-Cola_Blacks Questions: What were the real reasons that coca was taken out of Coca Cola? Do these reasons mean that cocaine was not or is not harmful? How then could you still justify the prohibition of Cocaine by the government of the USA

Find any Internet resources(one for each concept below, they can even be from famous journals or newspapers like a historical event, some affecting case, journalistic material, statistical or scientific research from google scholar) and describe everything in one economics essay (all information from sources should be in terms of economics), APA format, with the cover page and works cited list. Not less than 3 pages needed, not including the works cited list and the cover page. 1. why productivity is so important 2. the importance of long-run growth 3. The trade-off between risk and return 4. Does the unemployment rate always measure what we want it to? 5. Why there are always some people unemployed? 6. are unions good or bad for the economy? 7. how the fed influences the quantity of reserve or reserve ratio or money supply. (pick one, or in case you could not find a source for one or two from the concepts above, pick the rest one or two from this point number seven instead and make them separate concepts.)

Why is the drug trade is so profitable for illicit drug dealers? What is money laundering? Describe the three stages of Money Laundering How would drug gangs do money laundering using legitimate Enterprises?

Term Paper Project Requirements: *****Select an economic topic relating to microeconomics. Example” The economic significance of price controls “(See samples of the optional term paper topics and work) The economic effect of immigration in the United States. Government and individual markets. Economics of market systems, production, and Globalization. The effect of drugs and the household. ? Collect as many articles from recent or current issues (year 2018+) of the Wall Street Journal, News Media, or any Business Journal that relates to your selected topic of microeconomics. Analyze at least ten to fifteen of these articles to select the information necessary to support your topic. You must at least indicate twelve articles usage in your work and also the citation page. Make sure you distinguish the following in your work; INTRODUCTION, BODY, & CONCLUSION (Bold or Underline) Also, you must number your pages excluding cover and citation pages. The required pages should range from ten to fifteen pages of content excluding cover and citation pages You must use all your skills in producing excellent work- accuracy, grammar, spelling & general format of writing a college term paper. (MLA, APA, Chicago style, etc) Your work must be typed, double-spaced, and submitted to me on canvas within the assigned time in the syllabus.

Discussion Questions 1. what are the major factors that determine any workers salary? do these fac- tors justify the gross compensation of CEos in America? 2. do you think the rapid increase in CEo compensation over the past two dec- ades has come at the expense of the average worker? 3. Should a Christian CEo accept the large stock options and the bonuses of- fered to the typical CEo? Book Reference: chapter 9 Bulls, Bears, and Golden Calves: Applying Christian Ethics in Economics Author: Stapleford, John E. Publisher: Inter Varsity Press Edition: 3rd edition ISBN: 9780830840724

Please watch the video below. https://youtu.be/nJHexFKFcEQ https://youtu.be/_6INqNwFF20 Reflect on two documents: (To receive full credit, you must respond and comment on two other students) (1) Why we Took Coca Out of Coca-Cola (2) Cocaine out of Coca-Cola_Blacks Questions: What were the real reasons that coca was taken out of Coca Cola? Do these reasons mean that cocaine was not or is not harmful? How then could you still justify the prohibition of Cocaine by the government of the USA

Discuss cost implications of monopoly or near monopolistic organization (select a specific company) or discuss how competition could better the industry/market. Respond to classmates with barriers of entry and your economic opinion on how market entrants could benefit consumers.