Eco 561 Week 5 Lt Reflection

In: Business and Management

Submitted By cyberev
Words 666
Pages 3
Week 5 Learning Team C Reflection
September 22, 2014
David Mozinski

Week 5 Learning Team C Reflection
This week’s material discussed more macroeconomics and the global economies. It ran the gamut from basic macroeconomic concepts all the way through understanding the causes and effects of financial crises. The objectives were to accurately project the effects of credit markets on the economy and global economic conditions regarding trade and specialization business decisions. Learning Team C will demonstrate their academic findings and discuss the areas of difficulty and how the material relates to their individual fields.
Topics in Which We Felt Comfortable
Primary comfort among the team was found in the arena of money creation, the money multiplier, lending, borrowing, and interest. Topics primarily focused on how commercial banks alter the money supply, either by creating money or altering its value. Recognizing that shifts of the money supply from one bank to another can have an impact on an institution ability to make loans as well. A collapse of single banks can have severe and long lasting negative effects on other banks and on the real economy (Lengnick and et. al., 2013). Although the majority of the team felt most fluent with similar topics, one team member felt different; noting that it was difficult to find solace with most of the topics, but identified that income and consumption was palatable.
Most Difficult Learning Objectives
This week the readings proved to be quite a challenge for Learning Team C. The specific areas varied within the chapters but on a whole the team struggled with international finance. Each of the team members faced difficulty with the learning objective and topic that includes the equilibrium interest rate, comparative advantage between nations, banking systems, and international exchange. Realizing…...

Similar Documents

Week 3 Lt Reflection

... Abstract The discussions of Team display the importance of a leader’s recognition and understanding of the various types of influences that affect employee’s behavior. Some influences include perceptions, attitudes, emotions, job satisfaction, and motivation. Another topic of discussion is regarding company failures, management’s contribution to the failure, and the importance of ethical responsibility and actions. 
 Week Three Weekly Reflections Paper This week, Team discusses factors that influence individual’s behavior. The discussion covers the reasons leadership should recognize various types influences. Another topic of discussion is regarding the assignment for the week that explains the relationship between a company’s failure and leadership failure. Influences of Behavior Perceptions Team discusses the importance of a leader’s recognition and acceptance of individual perceptions. Perceptions are genuine to the individual regardless if not practical to others. A leader understanding perceptions can better manage conflicts, foster creative solutions, and gain a perspective of other’s values, biases, and expectations other than his or her own. Attitudes and Emotions Influence Behavior Team discusses the importance of leaders to recognize how attitudes and emotions influence behavior. Attitudes and emotions can have both negative and positive effects on an individual’s behavior. One of those factors is job satisfaction, which measures job involvement......

Words: 758 - Pages: 4

Week Review, Eco 561

... Learning Team Deliverable: Week 2 Emily Gumataotao, Pamela Hernandez, Mark Sanschargrin, Terra Stefan ECO/561 February 10, 2014 Peter Oburu Cost Concepts – Pure Competition; Demand for Resources; Identify Production Level to Maximize Profits (Chapters 9, 12) Topics comfortable Team member Terra felt comfortable with the purely competitive concepts. She felt they came natural for her because she has been in the retail business for over 20 years. Team member Mark felt comfortable with learning the topic of the Four Basic Market Models consisting of the Pure Competition, Monopolistic Competition, Oligopoly, and Pure Monopoly structures. Team member Pamela felt comfortable with the definition of purely competitive concepts and how they relate to a certain type of industry for example agriculture. Team member Emily felt comfortable with the idea of pure competition and the fact that each market no matter how big or small is purely competitive. Topics struggled Team member Mark struggled with the two methods to determine the level of profit maximization, the Total Revenue Total Cost approach as well as the Marginal Revenue Marginal Cost approach. The MR=MC rule seemed unclear in that the more marginal revenue should overcome the costs in all ranges of production. The topic became a little clearer with the cost and revenue curve simulation. Team member Pamela struggled with the charts and few real life examples to better......

Words: 1651 - Pages: 7

Eco 561 Week 4 Quiz

...ECO 561 WEEK 4 QUIZ ECO 561 Week 4 Quiz 1. Business cycles occur when output Hint: Business cycles fluctuate over time around the linear trend of gross domestic product (GDP). A. falls below its potential B. rises above its potential C. is fixed at its potential [ D. fluctuates around its growth trend ] The business cycle includes the tendency for output to rise and fall in the short term. When output fluctuates around an economy's secular trend, business cycles occur. 2. Which of these statements best describes a complete individual business cycle? Hint : A complete business cycle is measured from the initial peak to the next peak. [ A. Movement from peak to trough to peak ] B. Movement from recession to expansion C. Movement from peak to recession to trough D. Movement from trough to expansion then to peak A business cycle is measured peak to peak or trough to trough. 3. During the business cycle, the period between the point at which output reaches a high and the point at which it reaches a low is called Hint : After a period of economic expansion, the economy usually contracts. This contraction would be characterized by higher unemployment and a declining GDP. A. a peak B. a trough C. an expansion [ D. a recession [ A downturn describes the phenomenon of economic activity starting to fall from a peak. If output contracts between the point at which output reaches a high and the point at which it reaches a low for more than two......

Words: 933 - Pages: 4

Week 3 Eco 561

...Cynthia-Week three provided us with information on market structure. According to "Businessdictionary"(n.d.), “The interconnected characteristics of a market, such as the number and relative strength of buyers and sellers and degree of collusion among them, level and forms of competition, extent of product differentiation, and ease of entry into and exit from the market”, with the four basic structures being Pure monopoly, perfect competition, oligopoly, and monopolistic competition. The key learning objectives for the week showed us what pricing strategies to meet goals, such as competition strategies or loss leader where the company cuts the price of items to get customers to shop more. It also showed us way companies can create non price barriers based on market structure like loyalty cards and branding of products. Price-quality and features are ways to increase product differentiation based on market structure, and energy cost to vendor ownership are ways to reduce costs for an organization. The most comprehendible concept of the week was the four basic market structures. Monopoly is the easiest of the concepts to comprehend because most companies in the US are a part of the monopolistic competition. Most of the products we consume are produced and sold by a large amount of producers and purchased by a large amount of consumers. Take the chip industry for example; there are variations of cheese nacho chips by a large number of companies. Doritos, Great Value......

Words: 420 - Pages: 2

Reflection Eco 561

...Business Cycle Our team this week discussed the topics on this week’s learning objectives; this paper will talk about our discussion on the business cycle, phases of the business cycle, and market structure. We have determined how to apply and use these resources in our work life and takeaway the benefits of understanding how our economy works. The business cycle is an ever changing weather forecast. The business cycle displays the changes in growth and decline in the economy (McConnell, C. R.). With the constant fluxing of the economy, the business cycle goes through a number of phases (McConnell, C. R.). These phases are contraction, trough, expansion, and peak. Each phase has its own agenda that can either make or break the outcome of the economy. The main focus is to have a healthy growth rate that will increase jobs for everyone in a fashionable time frame but slow enough to not have inflation it too hard. The four phases are the foundation of our economy. At one time or another, the economy is in one of these phases; first is contraction when the economy starts slowing down (McConnell, C. R.). Second is trough, when the economy is in a slump or better known as a recession. Third is the expansion, which is when the economy is on the rise. Last is the peak, when the economy is at its best. These stages or phases are determined by the National bureau of Economic Research or (NBER) (McConnell, C. R.). A GDP rate is what is used by the Business Cycle......

Words: 653 - Pages: 3

Acc 561 Week 5

...A++PAPER; ACC 561 WEEK 5 YP20-1 DECISION MAKING ACROSS THE ORGANIZATION Palmer Corporation operates on a calendar-year basis. It begins the annual budgeting process in late August when the president establishes targets for the total dollar sales and net income before taxes for the next year. The sales target is given first to the marketing department. The marketing manager formulates a sales budget by product line in both units and dollars. From this budget, sales quotas by product line in units and dollars are established for each of the corporation’s sales districts. The marketing manager also estimates the cost of the marketing activities required to support the target sales volume and prepares a tentative marketing expense budget. The executive vice president uses the sales and profit targets, the sales budget by product line, and the tentative marketing expense budget to determine the dollar amounts that can be devoted to manufacturing and corporate office expense. The executive vice president prepares the budget for corporate expenses. She then forwards to the production department the product-line sales budget in units and the total dollar amount that can be devoted to manufacturing. The production manager meets with the factory managers to develop a manufacturing plan that will produce the required units when needed within the cost constraints set by the executive vice president. The......

Words: 560 - Pages: 3

Eco 561 Week 2 Complete

...A++PAPER; ECO 561 WEEK 2 COMPLETE Learning Team Deliverable Prepare a 350-700 word paper in APA format reflecting upon the weekly topics. Discuss which topics you struggled with, and how the topics relate to your field. 2- Equilibration is the process of moving between two equilibrium points as a result of some change in supply or demand. Understanding how market equilibrium is sought following such a change is essential for business managers. It is important to understand how economic principles, and specifically supply, demand, and their determents are a part of your everyday business decisions. Prepare a PowerPoint presentation to present in class or prepare a paper using a real world experience in a free market (not government regulated) to describe a change that occurred in supply or demand as a result of world events that led to the need for a move between two equilibrium states. Explain the process of how that movement occurred using behaviors of consumers and suppliers. Graph the movement between the two points as well. Required Elements: Include academic research to support your ideas Consider the Law of demand and the determinants of demand Consider the Law of supply and the determinants of supply Describe Efficient markets theory Explain Surplus and shortage Deliver the content in no more than a 700-word paper, OR 7- to 10-slide Microsoft PowerPoint presentation......

Words: 290 - Pages: 2

Eco 561 Week 4 Complete

...A++PAPER; ECO 561 WEEK 4 COMPLETE You will apply economic principles presented in Weeks One through Three in this week’s assignment. Your assignment will be reviewed by your facilitator in week five and should be revised as necessary based on feedback as the first part of the final assignment in week six. Select a new, realistic good or service for an existing industry. Write the economic analysis section of a business proposal. This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles. You need to create hypothetical data, based on similar real world products to estimate fixed and variable costs. Required Elements: Identify market structure Identify elasticity of the product Include rationale for the following questions: How will pricing relate to elasticity of your product? How will changes in the quantity supplied as a result of your pricing decisions affect marginal cost and marginal revenue? Besides your pricing decisions, what are your suggested nonpricing strategies? What nonpricing strategies will you use to increase barriers to entry? How could changes in your business operations alter the mix of fixed and variable costs in line with your strategy? No more than 1400 words Your proposal is consistent with APA guidelines Click the Assignment Files tab to submit your......

Words: 269 - Pages: 2

Qnt 561 Week 5 Qnt561 Week 5

...QNT 561 QNT561 Complete course Click below link for Answer visit QNT561 Weeks 1-6 - All Individual and Team Identify an organization from any member in your Learning Team or an organization with which your team is familiar. If an actual company is used, disguise its name with a pseudonym. · Alternatively, create a fictitious organization based on the dataset provided under Resources -Data Sets. Identify one independent variable and one dependent variable based on the business. Operationalize these variables if they are too abstract to measure. Develop a real or realistic scenario for the introduction based on the company you chose and the two variables. Include a background, a business problem and the team's role of no more than 350 words. Develop a research question from the two variables. · Use the Research Question Two Variable Handout for guidance. Create hypothesis statements based on the research question. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. Note: In Week 3, this paper will be appended with new content. Sampling Design Using the scenario and two variables your learning team developed for the Week 2 Business Research Project Part 1 assignment, create a paper of no more than 700 words in which the goal is to submit a random sampling plan in such......

Words: 1304 - Pages: 6

Eco 561 Week 2 Complete

...ECO 561 WEEK 2 COMPLETE A+ Graded Tutorial Available At: Visit Our website: Product Description PRODUCT DESCRIPTION ECO 561 Week 2 Complete Learning Team Deliverable The team debated over three different cost or expense concepts in business economics. The first topic dealt with fixed and variable costs and how these costs related to supply and demand. Fixed costs are costs that will not vary regardless of the changing outputs and paid out even if the outputs are zero. On the other hand, variable costs are the cost that will vary based on the levels of outputs produced by the business and those costs changes directly with the level of outputs. Items such as raw materials and most labor cost are variable because they can change over time (McConnell, Brue & Flynn, 2009). Understanding both the fixed cost and the variable cost would help business get a better handle on the total cost associated with operating a business. In business economics, cost and knowing the effecting controllers, allows managers to adjust accordingly. Businesses overall, need to know where money is going, when and where they need to cut expenses, and when they need to produce more to offset the cost. As the demand for a product or service increase, the company would need to understand when it should increase its supply for that product or service. It seems simple, but there is much more that goes into......

Words: 532 - Pages: 3

Eco 561 Week 4 Complete

...ECO 561 WEEK 4 COMPLETE A+ Graded Tutorial Available At: Visit Our website: Product Description PRODUCT DESCRIPTION ECO 561 Week 4 COMPLETE Apple iPhone Business Proposal Apple launched its first phone known as the iPhone in 2008; the phone is designed to target people who wanted and needed to communicate and store information. The phone is design to provide a wireless Internet connection, music, and talk into one. The features of this phone include a 3.5 touch screen without the aid of a keyboard, using more than one finger to control the phone, and shifting the screen to view in different modes. The market for the phone was small in 2008; but today the phone has taken over. In this paper I will present a business proposal for the iPhone addressing the market structure and the elasticity of demand for the phone. Market Structure The Apple smartphone is part of an Oligopoly market; an independent market and has its own behaviors strategies. According to McConnell, Brue, and Flynn (2009), “Oligopoly, in contrast, blends a large amount of monopoly power, a small amount of competition through entry, and considerable rivalry among industry firms” (p. 222). Because Apple’s smartphone industry and competition was small, it needs to take control of the market by differentiating the iPhone from others phone in its category. Apple needs to develop a plan that will help them to target the......

Words: 618 - Pages: 3

Eco 561 Week 5 Learning Team Deliverable

...ECO 561 WEEK 5 LEARNING TEAM DELIVERABLE A+ Graded Tutorial Available At: Visit Our website: Product Description PRODUCT DESCRIPTION ECO 561 Week 5 Learning Team Deliverable Learning Team Deliverable Introduction The nation’s economy can be redefined by statistics and data reports; specifically economic indicators. Economic indicators allow economists and others (private, public, non-profit agencies) to analyze the health of the economy. The applicable agency releases the corresponding reports on daily, monthly, or quarterly schedule. Furthermore, the various types of indicators are classified by timing or direction in relation to business cycles. Because of the vast amount of data available, it is important to understand which one are necessary for a particular study; indicators are only helpful if they are used or interpreted correctly. This paper will list some ofthe top reports used in a business analyst, discuss its relevance in decision-making and the economy. GDP One of the most common indicators is the Gross Domestic Product (GDP). It is the primary measure of a nation’s performance; peruses annual total outputs of goods and services (McConnell, Brue & Flynn, 2009).To measure GDP all of the spending on final goods and services are summed upevery quarter or year. The items include personal consumption, gross private domestic investments, government......

Words: 540 - Pages: 3

Eco 561 Week 2

...Week 2 University of Phoenix Eco/GM 561 When a country decides on something that they are going to produce this product has to set them apart from other countries. A country bases their product on factors such as how much it costs them to produce it and if it sets them apart from the competition. A comparative advantage is the driving force of production for every country. In this paper we will discuss comparative advantage, abundant factors in the production of certain products, recommendations for the country to specialize in, and industries the country of my choice protects (if any). For the purpose of this paper I have chosen to explore the Netherlands and their comparative advantage. I chose this country for personal reasons as my father was born and raised in The Netherlands until he came to the United States at sixteen years of age. When you first think of the Netherlands you might think cheese or Tulips as they are well known for both of those products. The Netherlands has a high comparative advantage when it comes to skilled labor intensive work. First, let’s explore what comparative advantage is. explains comparative advantage as “an economic law that demonstrates the ways in which protectionism is unnecessary in free trade. Comparative advantage argues that free trade works even if one partner in a deal holds absolute advantage in all areas of production- that is, one partner makes products cheaper, better and faster than its trading......

Words: 1301 - Pages: 6

Eco/561 Week 2

...Market Equilibration Process Paper ECO/561 June 7, 2012 Dr. Jill Trask Market Equilibration Process Paper Market equilibration can be accomplished when market price established through competition so the amount of good bought is equal to the number of goods sold. Supply and demand would be factors to change the market equilibrium. In the oil industry market equilibrium is determined by the cost of oil, competitor’s prices, and technology. “As a price falls, the quantity demand rises, and as a price rises, the quantity demanded falls” (McConnell, Brue, & Flynn, 2009, p. 47). Consumers travel constantly to go to work, school, or vacation. This travel requires the use of some form of transportation whether it is train, airplane, or automobile. The transportation modes use a form of fuel to move the vehicles. Certain periods increase the demand for fuel or decrease the demand, for example holiday weekends would increase the demand. When the price of fuel increases a traveler will see an increase in an airline ticket or a train ticket. If the prices for the airline or train ticket are too much the traveler may choose to drive instead to keep their cost down, When the fuels prices rises so does the commuter train tickets, causing some commuters to find alternate ways to work, such as carpooling. As the fuel prices decrease so do transportation costs allowing individuals to travel more often in their choice of transportations rather than the economical choice.......

Words: 575 - Pages: 3

Eco/561 Week 4

...Existing Business Proposal ECO/561 June 21, 2012 Dr. Jill Trask Business Proposal It is very significant to comprise a business plan in the shifting world business to stay ahead. The changes in the economy will create or shatter the business. In this paper Adnan will discuss the existing goods or services business proposal of Thomas Money Services Inc. The reason to have a business plan for the organization is to restore or generate more profits for the business. Elasticity of Demand and Market Structure Thomas Money Service Inc. (TMS) has been in business since 1940. TMS started out as an end user funding company giving way loans for domestic wants. The company prolonged over the next five years by granting business loans, business acquirement financing, and business real estate loans. In 1946 executive made a choice to expand into gear financing. This proved very lucrative for the company. With the end of the World War II, society experienced increased demand for construction and forestry equipment. In 1951, the equipment financing subsidiary, Future Growth Inc. (FGI) purchased and equipment manufacturing company, which vertically integrated the subsidiaries operations. TMS Inc has a monopolistic competition market; elasticity of demand is how much demand varies for manufactured goods in connection to a transformation in price. This transformation is measured as a percentage. For TMS Inc the elasticity is that it can offer the monetary......

Words: 1397 - Pages: 6