Oil Boom = Multiple Economic Affects

Analyze the article linked below - identify the concept and explain what is happening and why.

http://billingsgazette.com/news/state-and-regional/oil-boom-hits-glendive-college/article_aacc0b6c-2be4-57c4-a8b2-fa94c82a3443.html

Weekly Article

It's Monday...and you know what that means.  Find yourself an article relating to economics, read it, understand it and evaluate it in writing as your next blog post  Be sure to include the link to the article along with one relevant picture.

Weekly Reading Assignment

It's Monday...and you know what that means.  Find yourself an article relating to economics, read it, understand it and evaluate it in writing as your next blog post  Be sure to include the link to the article along with one relevant picture.

Elasticity - Should We Raise the Price?

This assignment has two components:

First, write a brief explanation of what elasticity is and how it works.

Secondly, create your own example of price elasticity of demand (the same as we have worked with in class this week.)  Create a brief scenario, draw a graph to illustrate the question, calculate (show your work) the % changes in price and quantity demanded.  Then calculate the price elasticity for your product, calculate the change in total revenue that would occr from the change in price and explain wheter the price should be changed as indicated in your scenario.  Be sure to include the graph and all formulae and your calculations.  Also include one picture which relates to the topic or your scenario. 

Supply and Demand in the Stock Market

Trading stocks is an exercise in supply and demand.  Why does the price fluctuate throughout each hour of trading?  The relatively scarce supply of that company's shares allow for a starting price based on a variety of factors.  From that point forward, the price rises and falls as shares are bought and sold.  What makes a stock valuable? What inspires the purchase of a stock? 

http://breakoutreport.com/articles/economics/supplydemand.htm

Read the article linked above and write a short explanation of how supply and demand affect the sale of stocks.  Your answer should be 2-3 paragraphs in length and include two pictures relating to the topic.

Reading Economics in Bratislava

In an effort to broaden our knowledge in the subject of economics we will embark on a reading program to ensure each student is able to pursue topics which both interest and enlighten him/her. Each week you will read and report on an economics article of your choosing.  The article must come from a reliable source - several will be provided but you may submit new sources as you find them.  Your task each week is as follows:

1. find an article from the discipline of economics
2. read the article (and understand what it is saying)
3. write a short "report" on the article which should include:
• briefly summarize the article in your owns words
• explain what you learned and what you found most interesting about the topic
• describe how it relates to general topics we have studied in class

Your "report" should be a minimum of 150 words in lenght and should include a link to the article as well as two pictures which assist in explaining the content of the article.

This assignment should be finished and posted on your blog by Friday of each week.
Please include the date of your post in your title.

Tales of the Demand Curve

In class we will be creating scenarios that relate to three different demand curves: movement along the curve, a shift in the curve and demand for a Veblen good. Your assignment is thus: on a large sheet of poster-paper, you are to write a brief description of a scenario (word problem) for each type of demand - then, for each scenario, you are to draw the design curve as your visual description.
Be sure to write legibly and descriptively. Also, be sure your graphs are easy to read and labeled all lines as fully and accurately as possible.

Questions????? Talk to your classmates and/or see me for help.

Law of Supply...Explained

Law of Supply and Demand - Laws Are Meant To Be Broken

One thing you will learn in life is that nothing is certain (except perhaps death and taxes, but even that is open to debate).  The laws of supply and demand are no different - there are instances when these "laws" do not hold true.  Two interesting examples are called Veblen goods and Giffen goods. 
Your goal today is to research and investigate the meaning of these terms and provide not only a thorough explanation of each, but also examples.

In your blog post:  Explain the laws of supply and demand (how they are supposed to work) and provide an example of each.  Then, explain in your own words (paraphrase) the definition of both Veblen and Giffen goods and provide one example of each type of good.

Along with your written explanations, include pictures which help to illustrate your examples.

Demand, Supply and the Price of Oil

Read the article, "Oil is Plentiful, Demand Weak.  Why Are Gas Prices Going Up?" - then post a brief (150 words or more) response about the factors which are influencing the demand for oil.  Identify the key components of the pricing of oil and explain why they seem to not be working the way we would expect.  With your post, please include at least two pictures and the article that you are reviewing.