ECN 601 GCU

ECN 601 Grand Canyon All Week Discussions (June 2016)



ECN601



ECN 601 Grand Canyon Week 1 Discussion 1 (June 2016)

Create a supply and demand graph in Excel that demonstrates the relationship between the amount buyers are willing to purchase and the quantity available. You may select your own data points, but you must discuss the relationship between supply and demand within the economy, as well as discuss the concept of market equilibrium. Please attach your graphs along with your discussion in your response. Provide an explanation for the value graphing supply and demand and analyzing the data can have on decision-making in a business and the economy.



ECN 601 Grand Canyon Week 1 Discussion 2 (June 2016)

View "Trade-Offs and Opportunity Costs," located on the YouTube website. Share an example of your own experience in which you had to decide on an opportunity cost that would affect you. What outcome did the decision have on your economic situation?



ECN 601 Grand Canyon Week 2 Discussion 1 (June 2016)

How can sample data support or inform economic decision making within an organization? Can the sample data have errors or be problematic when making decisions? Provide an example.



ECN 601 Grand Canyon Week 2 Discussion 2 (June 2016)

How does applying econometrics to economics validate economic decisions for an organization? Support your response with an example.



ECN 601 Grand Canyon Week 3 Discussion 1 click here (June 2016)

What market structure best describes the structure under which your organization operates? Identify one challenge and one opportunity that arise from this and how the firm might use these for strategic advantage.



ECN 601 Grand Canyon Week 3 Discussion 2 (June 2016)

According website to Coase's theory of the firm, why do firms exist? How do firms contribute to the efficiency of the market economy in ways that 'networks of independent contractors' do not? How are the boundaries of the firm best established?



ECN 601 Grand Canyon Week 4 Discussion 1 (June 2016)

Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior. Given your understanding of behavioral economics, how would your decision differ today?

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