Principles of Microeconomics Class
This is for my principles of microeconomics class. I have attached the power point slide from class. If they do not work let me know. The book we use in class is MindTap for Principles of Microeconomics, ISBN: 9780357133583
E-textbook by N. G. Mankiw, 9th ed. 2021
You can access this book at
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This is the info he gave us for the term paper:
As indicated in the syllabus, you will establish teams of size at most four with your classmates. Assuming that you are the economic advisor to an investor with plenty of funds, you will prepare a concise report to him/her not exceeding 1000 words. In this report (this report is your term paper) you will advise a product or service (or a combination of these) addressing related concepts you learn in the course as many as possible with the ultimate purpose of doing business and maximizing profit in the market.
Although it is supposed to be a comprehensive application of all related concepts we cover throughout the semester, it will be at most 1000 words excluding tables/figures. I am expecting you to include and address corresponding concepts you learn in this course as many as possible. The paper will be graded for spelling/grammar, structure, originality, conceptual sufficiency and the student’s ability to convey economic information to practice in a written and visual format.
The paper should include a product or service advised to an investor/entrepreneur with plenty of funds to invest and earn profit. You may advise a brand new good/service or improve an existing one. Your creativity to innovate in business counts here. Maybe this is the most important part of the paper. And then you will argue about how much profitable the product you suggest with the concepts and their relations we covered in ECON 2302 (Principles of Microeconomics). The concepts may include but are not limited to total profit, total cost, total revenue, marginal analysis, opportunity cost, markets, specialization, taxes, subsidies, competition, demand, supply, equilibrium, elasticity, externality, consumer/producer surplus, price, quantity demanded/supplied, gains from trade, etc.