TECH 330 Week 1 Discussion

TECH 330 Week 1 Discussion | Assignment Help | Excelsior College

M1D1: Decision Making Process: Making economic (rational and self-interested) decisions

Before you begin this discussion, please download the Module 1 - Excelsheet Notes.

Economic decision-making is rational and self-interested. In other words, the decisions we make are made to make us better off.  Because of scarcity, the limits of resources to fulfill our wants, we have to monitor costs and usually make an optimal decision within the limits of time and money.  Rational decision-making uses a logical method of analysis to select the best choice from among the feasible alternatives. 

This discussion will address the following Module Outcomes:

·         MO1: Define economics and the role of scarcity, choice, and opportunity cost in economics. (CO1)

Before participating in the discussions, review The School of Business and Technology Discussion Guidelines.

For your initial post in this discussion, please think about a recent large purchase you have made or one you might make in the future, e.g. a house, a car, a refrigerator, etc.

Post your answers to the following questions:

·         What were the most important features and functions of the purchase?

·         In the end, what feature led (will lead) you to your final decision?

·         Looking back, was it the best decision you could have made, or has further information made you question your decision or what new information might make you believe, in hindsight, that you made a bad decision?

Now, consider and write down how an engineer may be responsible for the economic performance of projects and products.

·         How would making a decision about a project, a building, a part design, a machine, or any product by an engineer be similar to the decision process we have just discussed for something personal?

·         How would their decision process be comparable to yours?

·         How would it be different?

Consult the Discussion Posting Guide for information about writing your discussion posts. It is recommended that you write your post in a document first. Check your work and correct any spelling or grammatical errors. When you are ready to make your initial post, click "Reply." Then copy/paste the text into the message field, and click "Post Reply." 

To respond to a peer, click “Reply” beneath her or his post and continue as with an initial post.

Be sure to be comprehensive in your answer.

Your initial post should be 300 to 500 words, submitted early to give your classmates sufficient time to respond. Be sure to respond to the initial posts of at least two of your classmates.

Critical thinking is self-directed, self-disciplined, self-monitored, and self-corrective thinking. To think critically, here is what I expect: clarify assumptions and misconceptions, present different perspectives or viewpoints, and come to a consensus.

Please be sure to respond to the discussion question in a way to assess, evaluate, or relate to it, and do the same for comments posted by your classmates. You must post your comments and questions in response to at least three initial postings by classmates.

In addition, you are responsible for responding to the comments and questions posted about your own initial posting. To review the criteria on what is expected of you in discussions, please refer to the SBT Discussion Rubric.

Keep the following in mind when making your posts to the discussion area:

·         In your initial discussion post, did you complete the required elements?

·         Did you respond to the initial posts of three more of your classmates?

·         Did you acknowledge those who responded to you?

·         Were all your posts made on time?