Project #51396 - Microeconomics 101

Name of the book: Survey of Economics: Principles, Applications, and 

Tools O’SULLIVAN / 5TH edition Pearson

 

Related chapters will be attached later. 

 

Complete the following exercises located in Chapter 6 in Survey of Economics

1.1

1.4

2.1

2.6

2.10

3.7

4.5

5.4

6.1

7.1

 

Complete the following exercises located in Chapter 7 in Survey of Economics

1.1

1.2 

1.8 

2.3 

3.1 

4.1 

4.6 

4.9

4.10

 

Complete the following exercises located in Chapter 8 in Survey of Economics

1.1

1.3 

1.10 

2.5

2.7 

3.1 

4.1 

5.3

6.8

 

Complete the following exercises located in Chapter 9 in Survey of Economics

1.1

1.4

1.5

2.4

3.5

5.1

6.2

7.8

8.1

 

 

Project

 

Part 1

 

You will be assigned a publicly traded company from one of the following industries:

Air Delivery and Freight Services - United Parcel Service (UPS), FedEx (FDX)

Airlines - Delta Airlines (DAL), United Airlines (UAL), Southwest Airlines (LUV), US Airways (LCC)

Application Software - Microsoft (MSFT), SAP (SAP), Oracle (ORCL), IntuIt (INTU)

Banks/Financial Centers - JP Morgan Chase (JPM), Bank of America (BAC)

Department Stores - Macys (M), TJ Maxx (TJX), JC Penneys (JCP)

Major Drug Manufacturers - Pfeizer (PFE), Merck (MRK), GlaxoSmithKline (GSK)

Drug Store Chains - CVS (CVS), Walgreen (WAG), RiteAid (RAD)

Grocery Store Chains - Kroger (KR), Whole Foods Market (WFM)

Home Improvement Store Chains - Home Depot (HD), Lowes (LOW)

Oil & Gas - Exxon Mobil (XOM), Chevron (CVX), BP (BP)

The information about these companies is available on Yahoo!Finance. You are also encouraged to utilize company's financial data and annual reports that are usually available on their respective website (often under "Investor Relations" section) .

Imagine that you are a Business Analyst, who has to prepare a series of reports, outlining your company's internal and external business environment, including:

Company's background, history, lines of business, and summary of financial position

Company's cost structure, including analysis of major costs, their drivers, sensitivity to changes in the external market environment, and ability to adjust to the change in market conditions.

Structure of the market, where your company operates, its major competitors, suppliers and customers, geographic differentiation, potential sources of market power, profits and strategic positioning.

Existing and potentially viable strategies for sustainable business practices, impact of government and environmental regulations.

Potential synergies for new lines of business and sources of revenue growth.

 

Part 2

 

Prepare a two to three page report titled "<<Your Company>> Cost Structure". The report should be based on the publicly available information that you obtained.

You need to include the following sections in your report:

An overview of your company's cost structure:

Types of fixed costs

Types of variable costs

Factors affecting these costs

Average cost behavior and trends over time

Elasticity discussion:

Do you believe that, in general, the demand for your company's products and / or services is elastic? Why? (Would the total quantity demanded in the market decrease proportionately more with an increase in price?)

Do you believe that, in general, the supply for the industry, where your company operates is elastic? Why? (Would the total quantity supplied to the market increase proportionately more with an increase in price?)

Characteristics of a short run (timeline, nature of fixed costs)

Explain whether it is possible for your company to operate at a loss in the short run

Short run vs. long run dynamics for your company:

Estimates of your firm's fixed costs and variable costs based on three years of financial data, using the Cost Estimate Worksheet template and including a discussion of trends over time.

Conclusion - your company's ability to adjust to changing market conditions

 

Part 3 

 

Prepare a two to four page report titled "<<Your Company>> Market Conditions". The report should be based on the publicly available information that you obtained.

Address the following information in your report:

An overview of the market - general information.

Major players in the market - you and your competitors.

Your current and potential customers.

The market structure and its characteristics:

Type

Geographic boundaries

Sources of market power

Measures of market power

An overview of your company's strategic position: its strengths and weaknesses

Conclusion - market dynamics and your company's role.

 

Part 4 

 

Prepare a two to four page report titled "<<Your Company>> Future Opportunities". The report should be based on your research for this project and based on the publicly available information.

Address the following information in your report:

Impact of government and environmental regulations on your company's business

Challenges facing your company due to the depletion of scarce resources

Opportunities for new streams of revenue based on your company's efforts to adopt sustainable business practices

Suggestions for improving profitability in the global marketplace

Guidelines for good corporate citizenship.

 

Experiment 

 

Part 1

 

Read the article "Trading in a Pit Market".

Based on the information provided in the paper, considering having 18 participants (buyers and sellers), answer the following questions:

What do you expect the average profit for a buyer to be in each round?

What do you expect the average profit for a seller to be in each round?

What is the highest cumulative (total) profit a seller can make if the game is played 10 times?

 

Part 2

 

Go to an online auction website eBay.com

Search for top 10 listing for a specific item (e.g. chess sets), sort by "Best Match"

List the item numbers of the top ten items. (After you click each individual item, the item number is located at the top right corner of the screen.)

Summarize the price range of the ten items (lowest price, highest price).

Describe how the market supply curve could be constructed based on the information you collected.

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Due By (Pacific Time) 12/15/2014 12:00 am
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