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) 

  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:

  • NAICS (North American Industry Classification System) 
    • 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
    • Template
    •    

Economic Brief 

Title

By Your Name

ECO100

Professor’s Name

Date

  

Economic Brief

Title

(Enter your introduction text here. It should be no more than a paragraph or two. Please delete these instructions before submitting your paper.)

Industry Goods and Services

(In this section you should describe the goods and/or services produced by an industry that you pick from this list from the North American Industry Classification System. Please delete these instructions before submitting your paper.)

Market Structure and Characteristics

(Your text here should identify this industry’s market structure and two or more market characteristics. ​Please delete these instructions before submitting your paper.)

  

Microeconomic Relationships, Market Outcomes, and/or Trends

(In this section you should discuss ONE of these items as it relates to this industry: a notable microeconomic relationship, a market outcome, or a trend in the industry. Include a graph, table, or chart if possible. Delete these instructions before submitting your paper.)

How Government Intervention May Impact the Industry

(Your text here should explain how government intervention might impact this industry’s market prices, output, and / or market structure. Please delete these instructions before submitting your paper.)
 

Sources

1. List in order of use.

2. List a second source here.

3. Repeat for additional sources.

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