XECO 212 Entire Course | University Of Phoenix
- University of Phoenix / XECO 212
- 21 Feb 2019
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XECO 212 Entire Course | University Of Phoenix
XECO 212 Entire Course
XECO 212 Week 1 Individual Assignment A New House – Readiness
Deciding to buy a house is a lifelong goal for many people. Imagine that you are renting a studio apartment and have just discovered you are having a baby. Your present apartment is small and far from schools and local services. You have decided to move. There are many factors that come into play when making such a large and weighty purchase. Examine the decision-making process from the perspective of an economist. In your Final Project, you use these principles and other factors to make a final decision whether to buy a house.
Consider the 10 Principles of Economics as outlined in Ch. 1 of the text.
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision could have long-term financial consequences.
Submit a 250- to 300-word response addressing the following points:
Choose two of the 10 Principles from Chapter 1 that you think play a major role in your decision.
Discuss those Principles' roles in your decision making. Provide specific examples and application.
Explain how that influences the marginal benefits and marginal costs (i.e. cost/benefit analysis) associated with the decision to purchase a house.
Tip: The most relevant Principles to this CheckPoint are Principle One (Trade-offs), Principle 2 (Opportunity Cost), Principle 3 (Marginal Thinking) and Principle 4 (Incentives). The topics contained in Principles 5-10 will covered in detail later in the class.
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XECO 212 Week 2 Individual Assignment Price Elasticity and Supply and Demand Short Answer Quiz
Complete the Price Elasticity and Supply and Demand Short Answer Quiz.
Post your completed chart as an attachment.
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XECO 212 Week 3 Individual Assignment Labor Market Scenarios
Submit a 250- to 300-word response addressing two of the following labor scenarios in the new housing market:
A new law requires home builders to hire only union labor. Will this shift the labor supply curve, demand curve or both in home construction? How will this affect wages and number of workers in home construction? How will this affect the cost of building a home (and price of a new home)?
A wave of day laborers with experience in home construction moves into the area. Will this shift the labor supply curve, demand curve or both in home construction? How will this affect wages and number of workers in home construction? How will this affect the cost of building a home (and price of a new home)?
Due to a recession, the demand for the housing market decreases. Will this shift the labor supply curve, demand curve or both? How will this affect the wages and number of workers in home construction?
Post your assignment as an attachment.
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XECO 212 Week 4 Individual Assignment Maximizing Profits in Market Structures Paper
Complete the Maximizing Profits in Market Structures Test.
Post your completed test as an attachment.
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XECO 212 Week 5 Individual Assignment Consumer Price Index
What is inflation?
Identify and discuss two or three strengths of the CPI as a measurement tool.
Identify and discuss three weaknesses of the CPI as a measurement tool.
If the CPI is imperfect, why do we use it?
Be sure to use the text as your primary source when drafting this Assignment!
Post your assignment as an attachment.
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XECO 212 Week 6 Individual Assignment New House - Economic Health and Monetary Policy
he difficulties of the economy affect many of the decisions you make as a consumer. No more so than when you are buying a house. The health of the economy is a factor you must consider when buying a house. Sometimes the economy favors sellers and at other times it favors buyers.
Government monetary policy and the overall health of the economy play a large role in the housing market. In this CheckPoint, you examine how Federal Reserve policy and the health of the economy may affect your decision to purchase a house.
Evaluate the health of the housing market for the next one to two years by researching forecasts for mortgage rates, housing starts, and housing prices. Please see the web links for to find information on mortgage rates, housing starts, housing prices, and economic health.
Tip: I welcome you to do additional research, but note that I would start with the NAR Economic Outlook document that has all of the relevant statistics necessary for this paper.
Submit a 300- to 400-word response addressing the following questions:
Explain how the Federal Reserve can affect mortgage rates, housing starts, and housing prices.
Explain how the strength of the economy as a whole could affect the marginal benefits and the marginal costs associated with a decision to purchase a home. Includecurrent statistics of economic health regarding unemployment, economic growth, personal income changes, etc.
Based on the housing forecasts, what opportunity costs are there to waiting to purchase house? Explain whether you consider the forecasts to be a reliable factor in your decision to purchase a house. Be sure to use specific statistics in your analysis (i.e. change in expected mortgage rates, etc.).
What is your recommendation as to the risks and benefits of purchasing a home today based on these considerations?
Assume the Federal Reserve suddenly announces that it is hypothetically cutting the discount rate that it lends to banks from 2% to 1%. Explain how would this affect your recommendation.
Post your assignment as an attachment.
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XECO 212 Week 7 Individual Assignment A New House – Fiscal Policy
This CheckPoint helps you refine your decision to buy a house; it prepares you to explain in your final project how government spending, regulation and taxes affect the marginal costs and benefits of your decision.
Consider the role of government bodies that affect the strength of the economy.
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
Submit a 300 to 400-word response addressing the following points:
How do national government spending and taxation policies affect the strength of the economy, the housing market and your choice to purchase a home? For example, what would happen if Congress decided to increase/decrease government spending by a trillion dollars or increase/decrease taxes by a trillion dollars?
How would the removal of the Federal income tax deduction on mortgage interest affect the housing market and your decision to purchase a home?
What other specific government policies or programs (i.e. subsidized loans such as the FHA program.) affect your decision to purchase a home? How do they affect the housing market? Be specific and use statistics!
Bonus: Are there local government policies or regulations that affect the price and your decision to buy a home?
Tip: Both www.realtor.org and www.nahb.org are excellent starting places to find how government policies affect the housing market. I have direct links to both these organizations' government policy pages for your easy reference.
Post your assignment as an attachment
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 8 Individual Assignment International Trade Simulation
Complete the International Trade Simulation.
Write a 600 to 900 word report advising the President of Rodamia making recommendations for international trade. Address the following:
List at least one advantage and one limitation (i.e. benefits and costs) of international trade you encountered in the simulation.
Define absolute and comparative advantage in your own words.
Explain how absolute and comparative advantages were used in your simulation.
Describe the influences affecting foreign exchange rates and how that relates to trade.
Format your report according to APA guidelines.
NOTE: Review Chapters 3 and 9 for this Assignment.
Post your assignment as an attachment.
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 9 Individual Assignment A New House – Decision
Review the final project criteria in Revised Appendix A.
Write a 1,500- to 2,500 word paper using the Final Project Template in which you decide whether to purchase a house. The Final Project Template requires you to cover the following:
Discuss some of the 10 Principles of economics that directly relate to your purchasing decision. Compare the marginal benefits and the marginal costs associated with your purchasing decision.
Discuss how changes in Supply and Demand of the housing market would affect your decision.
Consider your local labor market for home construction. Is labor relatively more expensive or less expensive in your area to build homes? How does it affect your decision to buy a home in your area compared to other areas? What changes in the home construction labor market could increase or decrease the price of a home and your decision to purchase one?
Explain how the strength of the economy and of the housing market (including forecasted changes) affect the marginal benefits and the marginal costs associated with that decision.
Explain how monetary policies (i.e. Federal Reserve actions) affect your decision to purchase a home. How do these policies affect the economy in general and the housing market specifically? How would your decision change if the Federal Reserve reduced the discount rate it lends to banks?
Explain how fiscal policies (government taxation, spending and regulation) affect your decision to purchase a house. How do these policies affect the economy in general and the housing market specifically? How would your decision change if the government changed the tax incentives to purchase a home?
Consider the role of international trade in your assessment of the strength of the economy. Discuss how a new tariff on building materials would affect your decision.
Assume for this project that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision could have long-term financial consequences.
Use three to five references in your paper together with specific examples and statistics in your analysis.
Format your paper according to APA guidelines.
Post your paper as an attachment.
Note: It is required that you use the Final Project Template when drafting your papers. The guidance in the template and its organization will make it both easier for you to ensure that you cover every requirement of the assignment and for me to grade.
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