Assignment 1: Economic Brief

Due Week 5, worth 150 points

This assignment is aligned to these course outcomes:

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  • Explain economic principles and their applications in the real world.
  • Summarize the different types of market structures and the role of government in economics.

In the workplace, we are often asked to create “briefs.” A brief provides a snapshot, or short, written summary, of a situation or event that has occurred. It is generally just a few pages long and may include additional visuals like a graph, chart, or table. In this assignment, write a brief about economic concepts in an industry that interests you.

An example economic brief, template, and resources are provided below.

Example Economic Brief, Assignment 1 Template, Strayer Writing Standards (SWS)

  1. Review an example brief.
  2. Use the optional template to help you get started.
  3. Get familiar with the Strayer Writing Standards (SWS). (See Instructions below.)

Industry Selection

Use this resource to select an industry and learn about the products and services it provides:

    • Select the number next to the industry to see its subsectors, e.g., select 52 to see Finance and Insurance.
    • Select that same number again to read about the industry as a whole or select a sub-category. For example, Mining is 21, and Oil and Gas Extraction, a sub-category, is 211.

Instructions

Review your previous chapter readings and use the resource above to develop an economic brief that is two to three (2-3) pages long in which you:

  1. Select an industry and describe the goods and/or services this industry produces. Use the NAICS resource above to help you select an industry (and/or subsector) for your brief.
  2. Identify this industry’s market structure and at least two or more market characteristics that support this market structure. (Market structures are covered in Weeks 3 and 4.)
  3. Describe any notable microeconomic relationships, market outcomes, and/or trends in this industry. Include a graph, chart, or table containing related data. (Microeconomic relationships and market outcomes are covered in Weeks 2 through 4.)
  4. How might government impact this industry’s market prices, output, and/or market structure? (Government intervention through price controls, industry regulations, and antitrust enforcement is covered in Weeks 2 and 4.)
  5. This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.)
    • Your brief should include a cover page.
    • Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font.
    • Your brief should include a minimum of one (1) reference/citation in the text.
Exemplary 100% A Proficient 85% B Fair 75% C Meets Minimum Expectations 65% D Unacceptable Below 60% F

 

1. Identifies an Industry and describes the goods and/or services this industry produces. Points:

30 (20%)

The student correctly identifies an industry and provides an accurate and thorough description of the goods and/or services this industry produces.

Points:

25.5 (17%)

The student correctly identifies an industry and provides an accurate description of the goods and/or services this industry produces. Some minor details are excluded.

Points:

22.5 (15%)

The student correctly identifies an industry and provides a partial description of the goods and/or services this industry produces. Major details are excluded.

Points:

19.5 (13%)

The student incorrectly identifies an industry based on the description of goods and/or services being produced.

Points:

(0%)

The student did not identify an industry and/or provide a description of any industry goods and/or services being produced.

2. Identifies a market structure for this industry and at least two supporting market characteristics. Points:

45 (30%)

The student correctly and thoroughly identifies a market structure for this industry with two or more supporting market characteristics.

Points:

38.25 (25.5%)

The student correctly identifies a market structure for this industry with two market characteristics that support it. Some minor details are excluded.

Points:

33.75 (22.5%)

The student correctly identifies a market structure for this industry with at least one market characteristic that supports it. Major details are excluded.

Points:

29.25 (19.5%)

The student attempts to identify a market structure for this industry but may or may not have provided supporting market characteristics.

Points:

(0%)

The student did not identify a market structure and/or any market characteristics for this industry.

3. Describes a notable economic relationship, market outcome, and/or trend in the industry. Includes an existing graph, chart, or table containing related data. Points:

30 (20%)

The student correctly and thoroughly describes an economic relationship, market outcome, and/or trend in this industry. Includes an existing graph, chart, or table containing related data.

Points:

25.5 (17%)

The student correctly describes an economic relationship, market outcome, and/or trend in this industry. Includes an existing graph, chart, or table containing related data. Some minor details are excluded.

Points:

22.5 (15%)

The student partially describes an economic relationship, market outcome, and/or trend in this industry. May or may not have included an existing graph, chart, or table containing related data. Major details are excluded.

Points:

19.5 (13%)

The student incorrectly describes an economic relationship, market outcome, and/or trend in this industry. May or may not have included an existing graph, chart, or table containing related data.

Points:

0 (0%)

The student did not describe an economic relationship, market outcome, and/or trend in this industry. May not have included an existing graph, chart, or table containing related data.

 

 

 

 

 

4. Describes how government intervention may impact this industry. Points:

30 (20%)

The student accurately and thoroughly describes how government intervention may impact this industry.

Points:

25.5 (17%)

The student accurately describes how government intervention may impact this industry. Some minor details are excluded.

Points:

22.5 (15%)

The student partially describes how government intervention may impact this industry. Major details are excluded.

Points:

19.5 (13%)

The student attempts to describe how government intervention may impact this industry.

Points:

0 (0%)

The student did not describe how government intervention may impact this industry.

5. Uses SWS (Strayer Writing Standards) to write professionally and cite sources.

Meets the two-page minimum.

Meets the one-reference/citation minimum.

Points:

15 (10%)

Follows all writing standards. Meets the two-page minimum. Meets the one- reference/citation minimum.

Points:

12.75 (8.5%)

Follows most writing standards. Meets the two-page minimum. Meets the one- reference/citation minimum.

Points:

11.25 (7.5%)

Follows some writing standards. May not meet page minimum. May not meet reference/citation minimum.

Points:

9.75 (6.5%)

Follows few writing standards. May not meet page minimum. May not meet reference/citation minimum.

Points:

0 (0%)

Follows few to no writing standards. Did not meet page minimum. Did not meet reference/citation minimum.

 

 

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