24 Jun ECO 500 Milestone Two Guidelines and RubricOvervie
ECO 500 Milestone Two Guidelines and RubricOverview: In this second milestone assignment for the final project, you will continue your analysis of the economic problem presented in the case study on yourselected company (Microsoft, Heinz, or American Airlines). Using the information gathered in the problem statement, you must now frame your company’sproblem within the context of the appropriate market structure, conducting mathematical and/or statistical calculations that will identify significant trends andrelationships to facilitate demand forecasting and potential impacts on profits. Keeping in mind that your audience of corporate decision makers may not beexperts in economic theory and data analysis, you must seek to present your information in an easily accessible and understandable way.Prompt: To complete the second step of this final project, you will submit a theoretical and quantitative analysis that links the problem statement to the relevanteconomic factors at play. Depending on your company’s unique problem, you may look to answer questions such as the following: Are customer preferences changing? Is there a shift in demand? Is there a change in technology?To answer these questions, include a discussion of demand and its likely elasticity, an application of marginal analysis, and costs in your statement.Identify and illustrate these trends and relationships using mathematical principles. This will involve use of the proper algebraic, regression, and otherquantitative methods to generate scatterplots of your data, highlighting trend lines and outliers as appropriate. You may find it useful to review thesemathematical techniques using the following tutorials: Describing Relationships in Quantitative Data (Khan Academy) Video: Regression Line Example (9:26) (Khan Academy)To help you accurately perform these calculations, you must use Microsoft Excel and the Excel Analysis TookPak. There is an excellent section in the coursetextbook on how to perform regression analyses in Excel, but you may find these tutorials also helpful: Load the Analysis ToolPak (Microsoft) Perform Regression Analysis in Excel (Microsoft)Use the knowledge you have gained so far in this course to interpret the data. How might this information be used to make predictions and generaterecommendations for action?To complete your submission, categorize which market structure (pure competition, monopolistic competition, oligopoly, or pure monopoly) applies to yourcompany. Describe this market structure. How does it affect the problem you are researching?Remember that these tasks draw not only upon your quantitative and data analysis/interpretation skills, but also upon your communication skills. How mightyou go about presenting your findings to the company’s decision makers? Describe how you will present your information in a way that will be understandable tolaypeople and will convince them of the merit of your processes (and ultimately, your recommendations).As a managerial economics student and professional, you are encouraged to use your own experience, understanding, and knowledge of business and industrystructure to drive your analysis. Specifically, the following critical elements must be addressed:I.Research: In this section, you will apply economic theory and quantitative analysis to your research topic.A. Describe the relationship between the economic factors you identified and the presented issue.B. Using mathematical concepts, illustrate the relationships between economic factors and the issue.C. Describe the market structure of your organization’s industry.D. Determine how the market structure of the industry influences the issue. Support your response with relevant examples from the case.This theoretical and quantitative analysis assignment will be incorporated into the final economic analysis recommendation paper.RubricGuidelines for Submission: This milestone assignment should be written in essay format and submitted as a Microsoft Word document. The submission shouldbe 6 to 8 pages in length (including the initial problem statement) with double spacing, 12-point Times New Roman font, and one-inch margins. You should usecurrent APA style guidelines for your citations and reference list. Note that at least five outside information sources are required overall for this project, althoughyou might find that more are necessary to satisfy the requirements of the final presentation.As necessary, copy and paste any data analysis and/or graphics from Excel into your Word document for submission. You may include your original Exceldocuments as supplementary material if you believe this will strengthen your contribution.Note that the grading rubric for the milestone submissions is not identical to that of the final project. The Final Project Rubric will include an additionalExemplary category that provides guidance as to how you can go above and beyond Proficient in your final submission.Critical Elements Proficient (100%) Needs Improvement (80%) Not Evident (0%) ValueResearch:RelationshipDescribes the relationship between theidentified economic factors and thepresented issueDescribes the relationship between theidentified economic factors and thepresented issue but description is cursory orinaccurateDoes not describe the relationship betweenthe identified economic factors and thepresented issue22.5Research:MathematicalConceptsIllustrates the relationships betweeneconomic factors and the issue, usingmathematical conceptsIllustrates the relationships betweeneconomic factors and the issue but does notuse mathematical concepts or the illustrationis incomplete or contains inaccuraciesDoes not illustrate the relationships betweeneconomic factors and the issue22.5Research:MarketStructureDescribes the market structure of theorganization’s industryDescribes the market structure of theorganization’s industry but description iscursory or contains inaccuraciesDoes not describe the market structure of theorganization’s industry22.5Research:InfluencesDetermines how the market structure of theindustry influences the issue and providesrelevant examples to support responseDetermines how the market structure of theindustry influences the issue but theexplanation is cursory or containsinaccuracies or response is not supportedwith relevant examplesDoes not determine how the market structureof the industry influences the issue22.5Articulation ofResponseSubmission has no major errors related tocitations, grammar, spelling, syntax, ororganizationSubmission has major errors related tocitations, grammar, spelling, syntax, ororganization that negatively impactreadability and articulation of main ideasSubmission has critical errors related tocitations, grammar, spelling, syntax, ororganization that prevent understanding ofideas10Total 100%
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