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ECN 220 Grand Canyon All Weeks Assignments

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ECN 220 Grand Canyon All Weeks Assignments

Week 3 Price Elasticity of Demand Analysis Essay Questions

Week 5 Country Economic Analysis Report

Week 6Report on the Federal Reserve System

ECN220

ECN 220 Grand Canyon Week 3 Assignment

Price Elasticity of Demand Analysis Essay Questions

Cigarette smoking is widely recognized as the number one cause of cancer in the United States. One method the government can use to reduce cigarette smoking is to tax cigarettes.

Read “Macro-Social Influences: The Effects of Prices and Tobacco-Control Policies on the Demand for Tobacco Products,” located athttp://library.gcu.edu:2048/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=18739643&site=ehost-live&scope=site.

Answer the following essay prompts about the effect of taxation on cigarette smoking. Each answer should be two to three paragraphs each; a paragraph must consist of at least four sentences.

  1. Who is likely to be more affected by tax increases on cigarettes: all adults or young adults? Why? Cite elasticity of demand estimates from the article to support you answer.
  2. To have the greatest effect on reducing cancer from tobacco use, what other products should the government tax? Why?
  3. What is the long-run elasticity of demand for cigarette smoking? What does this mean for the likely impact of taxes on long-term cigarette use? Why?

APA format is not required, but solid academic writing is expected.

 

ECN 220 Grand Canyon Week 5 Assignment

Country Economic Analysis Report

Select a country of your choice and collect the following data for the most recent year available. Refer to the following websites for the data: https://www.cia.gov/library/publications/the-world-factbook/

http://hdr.undp.org/en/

  1. GDP (you may use the purchase power parity figures)
  2. Per capita GDP
  3. GDP growth rate
  4. GDP composition by sector
  5. Labor force
  6. Labor force by occupation
  7. Population below poverty line
  8. Unemployment Rate.
  9. Inflation Rate.
  10. Human Development Index Rankings – overall and by category.

Based on your research, write a summary of 750 words on what you have learned about this country’s economy. How would you rate the overall economic well-being for this country? Provide your rationale. Contrast two or three key economic factors for this country with the U.S. economy and comment. For example, if per capita GDP is significantly lower in this country than in the United States, what might this imply?

APA format is not required, but solid academic writing is expected.

This assignment uses a grading rubric.

 

ECN 220 Grand Canyon Week 6 Assignment

Report on the Federal Reserve System

View The Fed Today video, located at http://www.philadelphiafed.org/education/federal-reserve-and-you/index.cfm.

Answer the following question in a report of 750 words. Why did some Americans lose faith in the banking system before the Federal Reserve System was in place? Include the following in your response:

  1. Explain the three primary roles of the 12 Federal Reserve Banks.
  2. Why is the Federal Reserve referred to as the banker’s bank?
  3. Describe the role of the Federal Open Market Committee in conducting monetary policy.
  4. Based on this video, why might the Federal Reserve want to decrease the money supply?

Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required