Assignment 1: Economic Brief
Due Week 5, worth 150 points
This assignment is aligned to these course outcomes:
- 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)
INDUSTRY TO USE WILL BE : Amusement and Theme Parks
Review your previous chapter readings and use the resource above to develop an economic brief that is two pages long in which you:
- 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.
- 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.)
- 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.)
- 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.)