ECO 561 week 2

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How the post demonstrates that a student has read the readings for the week

· Uniqueness of the post

· Use of specific points from the articles or readings for the week

· Timeliness of post; Posts earlier in the week tend to stimulate discussion

· Uses of peer-reviewed references and the readings for the course for support

· Does not use blogs for support – No blogs unless they are from Nobel-winning economists

· Does not use Wikipedia or online encyclopedias or dictionaries for support

· Applies critical thinking; Discussion at a critical level, not just recitation of facts from the article; Discussion at a critical level means discussing things such as your opinion of the point mentioned, why you hold that opinion, what you see wrong with the point mentioned, how you see the point consistent/inconsistent with what you have learned so far, implications for the future, and consistencies/inconsistencies within the article or reading itself; critiquing an article means analyzing the good and/or bad aspects of the article and justifying your analysis; Do not just tell me what the article or reading states

· Does not quote the reference verbatim

· Relates new information to old information learned in the course to date; Makes connections between new and old information

· Relates information in article or reading to personal experience

· Length of posting approximately 75 carefully chosen words or more (8 sentences)

Having said this, it is relatively easy to get all 18 points if you make a total of 8 substantive posts each week, participate on 3 days during the week, and support at least 4 posts with references. Support means based on the reference rather than quoting the reference verbatim. The quality of the reference is also an important part of the grade. Peer-reviewed references are best. the readings are next most valuable, and many online references are not convincing unless they are primary sources or peer-reviewed.

 

 

DQ 1

Price elasticity of demand

Some businesses will examine their pricing structure and modify it in order to maximize revenue, either by raising or lowering the price. For some organizations, lowering prices might be an effective means for increasing revenue. Select an organization you work for or are familiar with that has not already been chosen by another student. Ccould the organization you have chosen lower prices to increase revenue? Why or why not? 

 

DQ 2

 

Fixed and variable costs

Choose an organization not previously selected that has a high fixed cost and low variable cost balance to run its operations. Discuss the balance of fixed and variable costs for the organization. How has the Internet changed this balance for organizations? 

 

 

 

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