Microeconomics Research Papers Samples For Students

Introduction

Microeconomics can be defined as the analysis of the decisions made by individuals and groups, the factors that affect those decisions, and how those decisions affect others (Moffatt, n.pag.). Unlike macroeconomics that deals with aggregate level activities, microeconomic deals with individual, household and firm level economic activities. It helps in understanding the dynamics of an industry and microeconomic impact of industries. The industry that has been chosen for this study is automotive industry for two reasons. First, automobile industry significantly contributes to global economy. Second, the industry is dynamic and undergoing a lot of changes in the recent past.
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Introduction

In last few years, the randomized program evaluation has become the gold basis for evaluating the development programs and also the bread and butter of many development economists. The evaluations sometimes uncover the valuable new information, but are contentious, and can also be prohibitively expensive to implement, for small NGO’s. Appreciating how the microfinance affects clients is not straightforward for the reason that there are several possible explanations for why, say, a borrower is doing well as compared to her non-borrowing peers. The credit may be helping–or conceivably the borrower was already comparatively prosperous and would have fared ...

The key to success of any project or rather business venture is efficient resource management. Efficient resource management involves many aspects but the major one is resource allocation. It is important to note that economic resources are always limited and for this reason, it is very crucial to design mechanisms on how best to use of these limited resources. Resource allocation refers to the way resources are to be utilized in any given organization to obtain maximum or rather optimum output. Baumol & Blinder, (2008) asserts that, according to the classical economists, scarce resources can be efficiently allocated to ...

Related Learning Experience

Throughout my time in the workforce, I have been able to amass a great deal of experience in directly working with and becoming familiar with a variety of elements of microeconomics. This experience has been quite diverse considering the fact that the number of employers within my work history is rather limited. Similar to many young adults starting out, I began my work history with a job at a prominent fast food restaurant, which represents my first major learning experience in important microeconomic concepts such as product markets, factor markets, and the fundamental principles of economics. These concepts were ever present throughout my ...

Abstract

The purpose of this paper is to identify how the healthcare system has notable affects on social and functioning bodies dependent on the healthcare system. Healthcare is also affected by decisions from nationwide governing bodies distribute financial and medical aid where individual people can make their own decisions and play out the key microeconomic concepts to achieve the most beneficial medical plans. The healthcare system in North America constantly experiences changes to its healthcare plan regardless how protocols differ between the U.S. and Canada. The decisions implemented by individual members act as the instigators to change when they foresee ...

Microeconomics studied a separate individual or individual households participating in economic relations. Microeconomics examines all the possible motives of the individual market that forced him to take any decision with respect to this product. Reveals the extent to which the individual is independent in its choice.
Microeconomics examines a group of individuals who share a common industrial activity. An example is the company that performs a certain kind of activity. In this case, microeconomics, studying the market relations between employees of the company, is taking into account not a set of individuals working in separately, but the company as ...

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Nike – the winged Goddess of Victory in the battlefield is the symbolism of inspiration for every athlete to perform better and higher. It is the inspiration for the common man to meet his innate desire for athleticism and physical fitness. Nike’s brand promise of attending to every customer’s cravings desires and demands are reciprocated by the customer’s willingness to purchase Nike products. The incredible strategy of Nike is to have the best of athletes endorsing their shoes. It is a ...

The subject of microeconomics is the study of the behavior of individual economic agents (households, firms). This section examines the prices and volumes of production and consumption of specific products and services. According to C. McConnell (p. 113), “Today’s market economies rely mainly on the activities of consumers, businesses, and resource suppliers to allocate resources efficiently. Those activities and their outcomes are the subject of microeconomics”.
The object of study of microeconomics is the economic choice is made by small economic units such as households, businesses and individual consumers. Deep source of all economic problems lies in the ...

Market Structure

A firm has to be well aware of the market structure in which it is operating so that it can take appropriate pricing and output decisions that maximizes its profit and market share. If the market is competitive in nature the firm would follow the price determined by the overall industry demand and supply. On the other hand a monopolist would decide the price that would maximize her profit or the price that would keep potential entrants into the industry at bay. The demand analysis that we had made previously can give us some idea about the market structure ...

Microeconomic Analysis of Each Government Intervention

- US government intervention through tariffs
The US government has opted to be actively controlling their country’s balance of payments through the use of tariffs aiming at discouraging importation of Chinese solar panels. This intervention has been established with a common goal to protect the US local industry and the manufactures of solar panels and the related products. As a result, the US government has levied custom duties on the Chinese products ranging from 2.9% to 4.73%.
Although, this intervention comes with many advantages, particularly in protecting the domestic market and increasing government revenue, microeconomic analysis shows that ...

Given that the new company is now run as a monopoly, how will this benefit the stakeholders involved, such as the government, businesses, and consumers?

In this scenario, two shrewd attorneys with financial influence exploited a condition in a liberal market to pool a previously fruitful industry. This made a situation in that they have no competition and they are prepared to vend! The administration consulting company they employed will coordinate the publicising, the lay-off of workers, and the fresh approach of operating. Subsequent to hours of investigation, I have established there are several views for and against this novel approach of monopoly (Maurya, ...

The Question

The global financial crisis has caused a structural breakdown in all the parts of the economy. The primary influence has been on the behaviors of the consumers, and the consumers are comparatively more risk averse. This situation might support the recession and its negative influences on the economy.

The Relevant Facts and Circumstances

The most recent global crisis has caused important losses for the consumers including their houses because they could not afford to pay the mortgage loans back to the banks. The crisis started in the sub-mortgage markets have widened to the other financial sectors and the real sectors. Consequently, the American economy ...

Introduction

If it is ask about one single field that has recognition with almost every walk of life, then the name of Economics will be reflecting on the screen. After Adam Smith and Alfred Marshall, who directed the most important definition of the term economics, there are numerous authors who found a clear relationship among the economic based functions, and its core impact over the economic consequences of an economy (Banerjee and Duflo, p.45).
Earning and consuming the money in a best possible manner and with a sigh of effectiveness is the most important aspect of economics, in fact the main definition ...

Abstract

According to the United States Census Bureau under the Department of Commerce (2013), the United States of America has a population of 313 million (as of 2012 census) that needs to move from one place to another and requires goods and services to be moved as well for their many needs. Twenty three percent (23%) of this population is above eighteen (18) years of age and can legally drive a motor vehicle across the United States’ 3,531,905 square miles of land .
Transportation is made up of three very distinct components, transportation infrastructure, vehicles and transportation operations. Infrastructure in ...

Following the American Psychological Association’s Guidelines

Microeconomics and Macroeconomics Concepts
GoodLife’ supply curve given in the first page is a microeconomic concept. It shows the quantities can be supplied for the given prices, or in another word, this company’s supply curve exhibits how the company reacts to the prices by changing the quantity supplied. When the company rents out all the apartment, the company ask a price level of 1500 $ for an apartment.
Price ceiling policy is a macroeconomic concept, because government makes a policy decision and this decision affects all market players in economy. A price ceiling means an excessive demand in market, because GoodLife ...

The Impact of the Theory of the Consumer Choice on Demand Curves, Higher Wages and Higher Interest Rates

The theory of consumer behavior shows how the choice is affected by the price of goods, income and preferences, and the way buyers maximize their net gains from the purchase of goods and services. The price change of a good affects the consumer demand structure in two ways. Any change in the price results in the appearance of the income and substitution effects, as it changes the amount of available goods and their relative prices. The above effects are consumer reaction to changes in relative prices and real income (Mankiw, 2014).
The substitution effect is the change in the ...

Question 1:

The five core competencies that are discussed and broadly tackled in the MBA program are as follows:
Competency 3006.1.5: Legal and Regulatory Requirements
Competency 3020.1.4: Motivational Concepts in Human Resources
3012.1.4: Microeconomic and Macroeconomic Principles
3013.1.4: Marketing Strategy
3014.1.1: Financial Analysis
The graduate in these core competencies of the MBA program is taken through the rules and regulations as well as the legal procedures that they should be privy to, so as to analyzes applicable legal and regulatory requirements of their organizations and assist them to determine whether organizations meet legal responsibilities or not. The graduate in this competency ...

The coffee industry in developed countries is traditionally perceived as prosperous and stable. Also, the coffee business grows in developing countries, but this stability is apparent. Fluctuations of minimum coffee prices create serious difficulties for countries, which economies are directly dependent on coffee production. It happened that coffee sector in Mexico faced the crisis due to the evanescence of control tools, the decrease of prices, the insolvency of numerous local and global exporters, the shortage of loans, and the removal of the government from the coffee segment changed the situation in the industry (Renard, 2010).
Before the crisis many ...

Introduction

The general outcomes of the Middle East and North Africa (MENA) labor market have remained lower despite the region recording a positive economic growth. The improvements in the MENA labor markets experienced in the last one decade are negligible. Many factors influence the success of labor markets in the world. Factors such as the rate of unemployment, occupational choice and sector allocation, participation rates in different economic activities, and wages are important indicators of the economic position and success of a labor market. However, the MENA labor market continues facing economic segmentations because of the poor wage structure and ...

The impact of availability of skilled labour force Manpower is the most important element of the productive forces. The demographic factors are function of socio-economic development and have a great influence on economic growth. In assessing the impact of population dynamics it is important to take into account not only total population and population growth, but also its age structure, field employment, level of education and training, i.e. quality of the labour force. The availability of skilled labour force is the prerequisite of economic development of the country. The quality of labour resources largely contributes to enhancing overall economic ...

Introduction

The strategic planning for the successful operation of a firm pivots on the market structure in which the firm operates. The market structure determines the market power that the firm possesses or can command into. If the market power is low or absent as in case of a competitive market the firm has to follow the industry determined price. But if the market power is high as in the case of a monopoly the firm can earn substantial amount of profit by its pricing strategies. In the previous exercise we had derived the price and output of a firm ...

Chapter-1

Introduction
When it is defined about economics, then it will be definite about the inflation and economic growth (Banerjee and Duflo, 2011). Economies are always in comparison with other economies in terms of enhancing their economic growth and minimizing the level of unemployment rate accordingly. Earning the money and consuming it in a perfect and best possible manner is a basic definition of economics, and economics are utilizing it in a better way. Apart from earning and consuming the money at a better place, economic development and economic management are some of the important aspects that associated with the long run efficacy ...

Assignment 1:

The Pizza Company is considering entering the marketplace in your community. By conducting a demand analysis and forecast for pizza, you will be able to make a decision whether The Pizza Company should establish a presence in your community.
- Estimated regressions:

Demand analysis of the forecast for pizza in 30 markets is shown in graphical illustration (Graph).

Supply of pizza products and services to customers is examined in comparison where the company’s pricing structure is exhibited in Price (P) frequencies, and competitor pricing (Px) frequencies in multi-linear analysis of median cost to customers (Graph).
- Then, from the calculation provided, interpret the coefficient of determination, indicating how it will influence your decision to open ...

Introduction

The Internet as one of the most important factors of globalization determines the characteristic features of the latest development. If previously in developed client-oriented economies in the face of fierce competition, the winner was the one, who better and deeply met the needs of consumers, but today these two key parameters were supplemented by the speed in all variety of its determinations. This is the ability to show ads more quickly and more prominent position than its competitors to respond to a client request faster, promptly accept and process an order, deliver faster, etc. If the user goes to ...

American Public University

1. Compute the elasticities for each independent variable. Note: Write down all of your calculations.
QD = - 5200 - 42P + 20PX + 5.2I + 0.20A + 0.25M
and Q = Quantity demanded of 3-pack units P (in cents) = Price of the product = 500 cents per 3-pack unit PX (in cents) = Price of leading competitor’s product = 600 cents per 3-pack unit I (in dollars) = Per capita income of the standard metropolitan statistical area (SMSA) in which the supermarkets are located = $5,500 A (in dollars) = Monthly advertising expenditures = $10,000 M = Number of microwave ovens sold in the SMSA in which the supermarkets ...

American Public University

1. Compute the elasticities for each independent variable. Note: Write down all of your calculations.
The demand estimation as follows: QD = -3,500 - 150P + 30A + 75PX + 10Y. When P=300, A=750, PX=200, and Y=10,000. Placing these numbers into equation: QD=-3,500-150(300)+30(750)+75(200)+10(10,000)=QD=-3,500-45,000+22,500+15,000+100,000=89,000. Under given these numbers, we have 89,000 products demanded.
Price elasticity of demand is [d(QD)/d(P)]/[QD/P]. Therefore, we take a derivative of the function subject to price, and we assume other variables do not ...

Analysis of Tesla Motors

Analysis of Tesla Motors

Introduction

Organizations must use any strategy that will enable the organization to stay competitive and to also learn about any processes within the organization that could be changed in order to increase proficiency and efficiency. One such process is a critical analysis of the microeconomic and macroeconomic environment as well as any challenges that the organization may be encountering. This essay will perform an analysis of Tesla Motors to include the history of the organization, organizational regulations, factor markets, global pressures and foreign competition, cost structure, economies of scales; a critical analysis, practices of economic theory ...

Consumer’s choice is the ability of a given person or simply the buyer of a given good or service to determine what to use or purchase concerning products and services (Mankiw, 2014). There are several reasons behind any consumption habit by an individual. These include the prices of a given commodity, the level of income of the consumer and the utility as well as the technology at hand that characterizes the dynamics notable in the individual’s mode of purchase and use of a given commodity (Mankiw, 2014).
According to Taylor& Greenlaw (2014), change in the prices of ...

American Public University

There are three mainstream economic systems: 1-Traditional economies, 2-Command economies, and 3-Market economies (Hipple, 2016). Each system has different characteristics, and it is not possible to classify the economies in the three economic systems in particular borders. The economies might carry certain features from the various economic systems (OpenStax College, 2016).
The traditional economies are driven by the traditional life principles. The main production activity is agricultural production, and many of the companies belong to the families. The traditional rules have the highest level of importance in the traditional economies. Due to the traditional living, innovations do not receive ...

Abstract

Wesco International Inc, which is an American publicly traded company currently, operating in the U.S. The company supplies electrical and repair products and is based in Pittsburgh, Pennsylvania. Most of the company’s business is conducted in the United States. This article provides a microeconomic analysis by reviewing the current demand and supply situation of the company as well as the involved costs of production and recommended strategies that the company could adopt to gain a competitive power.

Introduction

Maintaining successful operations is a hard task for multinational corporations especially in the current market trends and fluctuating customer demands. However, ...

Introduction

Strategic interdependence is the primary feature of an oligopoly market form. In our previous analysis we found that our microwaveable frozen food company is an oligopolist. Thus it is very important for the firm to constantly upgrade its strategic decisions based on the market and economic conditions. The firm has to combat the challenges that come its way with effective counter moves. The managers have to be prepared for any changes. It is also important to keep close watch on the economy to make an estimate of the possible changes. In this analysis we discuss how the frozen food ...

Introduction

Price discrimination is a strategy usually followed by a monopolist or even oligopolist where different consumers are charged different prices. Price discrimination can take three major forms, first degree price discrimination, second degree price discrimination and third degree price discrimination. In this paper we demonstrate how third degree price discrimination is practiced by the Airlines. We begin with a brief description of third degree price discrimination in the next section. In section III we discuss the methodology and data source of our research. In section IV we present the outcome of our research. Section V concludes the study.

Concept of Third Degree Price Discrimination

In ...

Introduction

Chrysler Group LLC is one of the largest automobile manufacturing companies in the world. Along with General Motors and Ford Motor Company, these three companies are known as the “big three” in the US market. Chrysler is headquartered in Auburn Hills, Michigan. Currently, Chrysler is a wholly owned subsidiary of the Italian Automaker, Fiat S.P.A. The flagship brands of Chrysler are Chrysler 200 and 300, Dodge, Ram and Jeep. The journey of Chrysler was not always smooth. Upon its establishment in 1925, it soon became one of the most popular car brands in USA. From 1930s till late 1950s, it ...

This article is about how two of the world’s largest parcel delivery and shipping companies are, in fact, owned by the same owners. The article talks about UPS and FedEx, two companies having a chunk of the market share offering the above-mentioned services. Based on the illustration shown herewith, UPS has a 25.9% share of the deferred market while FedEx is closely following at 21.8% share. In terms of overnight packages, FedEx leads all market players with a 42.2% share while UPS follows at 33.8%.
Figure 1 Market Share of FedEx and UPS
Taken together, these two companies command a ...

There is no specific definition on “Economics” as every author has defined the concept of this field in somewhat different manner. Adam Smith and Alfred Marshall are known as the Father of Economics (FOE), and both of them have identified the concept of economics in a different and effective manner . According to their concepts, “Economics is the name of earning and consuming money” or “Economics is the name of how to earn the money and how to consume it”. It is one of those concepts, which has its active recognition in almost every walk of life.
There are two ...

The fundamental rule of economics is that it is a study of interaction of various market forces for utilization of the limited resources towards the satisfaction of unlimited demands of the society. The interaction and power of the forces of demand and supply determines the nature of the market. Microeconomics is the study which deals with the interaction of the individual demand and supply forces. The nature of such interaction and the relative influence of demand and supply forces would determine the kind of competition that exists in the market i.e., perfect competition or imperfect competition. The paper has been ...

According to Davide Colander, government acts like a “referee” in that government can act to “set rules” in the course of commerce. The major way is through federal and state legislation through the mechanisms of “taxes, subsidies, or regulations” (Colander, 2013). This works principally in business when two parties act together in a private contract to benefit each other financially. A problem arises when they are likely to “not take into account any effect that an action may have on a third party” (Colander, 2013). This is defined as an externality – company A and company B enter into a contract to produce a product, ...

The word ‘health’ has a deeper connotation to the modern world than just being referred to as freedom from illness, disease or disability. Health or being healthy indicates both physical and mental well being. This well being ensures higher productivity for a longer period. Thus health is an important aspect of human capital. Without soundness of body and mind, good quality human capital cannot be created. No wonder, ‘Health Economics’ has emerged as a popular branch of Economics in the last few decades. As a sub discipline it has gained immense importance in recent times. The Journal of Health Economics and Health Economics ...

Related Learning Experience

Although it may not seem likely, I have been able learn a great deal about important microeconomic concepts and topic throughout my professional career. Importantly, this was not always the cause as it was not until I entered the field of finance and consumer credit that I began to learn about, and understand important elements of macroeconomics, as well as the role and influence they had with the national and global economy. Perhaps the most profound professional experiential education came during the recent global financial crisis and economic downturn that began in late 2007 and lasted until nearly 2011. Following ...

Abstract

The paper is devoted to the elaboration of token economy system for students, who prefer being absent at classes. The reasons of absence were considered, and appropriate tokens were suggested. The class of juniors, who studied Microeconomics, was taken for conducting an experiment with tokens in the form of additional marks. These marks gave an opportunity at the end of the course to choose the exam questions personally based on their complexity and quantity, namely to create an examination card, and an opportunity to decide how to pass an exam, namely completion of the test, oral discussion, presentation preparation ...

Oil is one of the extremely traded products in the global markets due to its diverse uses which thus dictate its constant supply so as to facilitate the production process. For this reason, a majority of governments which undertake oil production have formulated comprehensive policies to govern their oil markets so as to ensure enough economic control of the precious commodity. Crude oil is the main product from which gas is extracted for specified uses in the markets such as automobile fuelling and many more. Thus, a change in the economic situation of the oil markets would also create a shock on ...

ANSWERS TO QUESTIONS

- What is the substitution effect on your consumption of driving?
Because of the new technology, this individual needs to spend less money for the gas and the gas price will be less for him. Thus he can buy more gas with the same budget and then he might want to buy more gas to travel more miles. That is the substitution effect on the consumption of driving.
- What is the income effect of your newly increased fuel efficiency on your budget constraint?
The Budget for the individual is Income=Miles driven X Cost of Gas ...

Focusing too much on the product and ignoring the customers 3

Considering marketing unworthy of investment 3
Launching the product/business idea without testing it 4
Waiting too much for launching a product/business idea 4
Ignoring to apply the appropriate operational support 5
Targeting rapid growth without having the capabilities to support growth 5
Spending money on the wrong resources for lack of a consistent business plan 6
Not taking risks 6
Entrepreneurial Mistakes-What Shouldn't You Do
Focusing too much on the product and ignoring the customers
Thinking of Bill Gates or Steve Jobs who quit faculty to become globally renowned entrepreneurs, inventors and ...

Business:

The government is expected to respond and come to the aid of the people in case any disaster strikes. This is usually done depending on the economic system that the country has adopted. When disasters strike regardless of the magnitude, the first people to respond are the emergency services. Depending on the intensity of the disaster the country makes the decision on whether or not to engage the help of other countries. The most preferred economic system that is most suitable for handling different crisis with regard to their epic proportion is the mixed economic system (Powell, 2007).
...

[Author’s name]

Monopolistic and oligopolistic competition: theory and examples

Introduction
One of the most important characteristics of an industry is its competitiveness. It often determines how profitable the businesses within this industry are or potentially can be, whether they have incentives to provide quality products and happy the customers are purchasing the products. In microeconomics, three types of market competition are usually being considered: monopoly, oligopoly and perfect competition. Monopoly implies that there is sole supplier of a good or service in the market who is a price setter and most often exploits its monopolistic power to derive excessive profits. The opposite to it is perfect ...

Report

Executive Summary
The economic evaluation of Medicare as system of efficiency in the U.S. insurance sector economy of scale is analyzed according to U.S. Senator Cantwell’s Affordable Care Act 2010, enacted as a reform measure to overhaul the existing Medicare fee-for-service payment system. The report addresses Medicare’s Value Payment Modifier (VPM) replacement of the former volume cost instrument used by the government agency, as well as the value-based index (VBI) to be used by Medicare providers within the national health care delivery system by 2017.
- Introduction
The report examines U.S. Senator Cantwell’s (2013) ...

Home ownerships have economic as well as social benefits. It is socially agreed that owning a home assures one of family stability, reduces the number of school dropouts especially at lower levels of learning and allows one to develop meaningful and lasting relationships. Economically, owning a home is one of the greatest financial assets that one can ever have. It enables one to enjoy security, increase investment, reduce spending on taxation, freedom of development, and acquire better credits among many other benefits.
Owning a house gives one confidence of security of any economic turbulence. Inflation is an economic reality that anyone ...

Milton Friedman Background

Milton Friedman was an American economist, author and a statistician born on 31st July 1912 Brooklyn, New York. Milton Friedman attended and graduated from Rahway High School in 1928. He graduated with a Masters in mathematics from Brown University and masters in Economics from the University of Chicago. He taught at the University of Chicago where he later became the leader of the University. Milton made major contributions to the economics when he was the leader. He is known for major contributions and research on the consumption analysis, theory and history of money and the concept of stabilization policy. He has ...

Introduction

Creative destruction is a term used “to refer to the incessant product and the process innovation mechanism by which new production units replace outdated ones” (Schumpeter 81). Backhaus writes that “the term creative destruction is the oxymoron of creation and destruction; it appears to be a paradox. But what it means is to create the new and destroy the old and the new and the old are not on the same dimension” (Backhaus 600). Creative destruction, explain Acs and David, “is the view of the market process as the elimination of the old way of economic life, not as the achievement ...