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ECO203: Microeconomics: Week 2

Week 2 Assignment

This week is the "deep dive" into your project.  Following the APA style outline, find resources that support your argument (issues), analysis, evidence, and the theoretical perspective that provides the lens through which your project is viewed.

During this week, if you have any questions, please contact your Library Liaison, Stephanie Johnson (sjohnson10@nu.edu), to review research needs. To schedule an appointment, please go to our Research Consultation guide and choose your librarian and the date and time that work best for you.

Key Resources

The following resources will help you locate empirical evidence:

1. Mergent Online
Last week we used Mergent Online to locate industry reports.  This week you will be looking at company financials and share price reports to provide evidence for events or conditions that might have impacted the company's growth or the economy.  To begin, use the link above and search for your company.

2. Industry Reports we reviewed last week also provide evidence (financials, tables, charts) that can be used to support your research question.  [See last week's links to get dig deeper.]

3.Statista is a statistics portal that integrates data on over 60,000 topics from over 18,000 sources in one place. Statistical categories include media, business, finance, and politics.

For Week 2, you will need to add a search term(s) to the more general searches reviewed last week (see searches below) to focus on your chosen research question.  Terms might include: competition, efficiency, cost, customer satisfaction, market, whistleblower, trends, price, analysis, social issues, wages, ethics, employee satisfaction, or economic impact.


Airline Industry

Amazon & Hachette

Boeing

Costco & Wal-Mart

Facebook

Priceline

Gillette & Schick

Hunting Preserves

JC Penney

Kiva Systems

McDonald's Happy Meals

Shopping Apps

StubHub

Uber

Virgin Atlantic

Theoretical concepts that fit your research question may be found in your textbook. You might also search the article databases for your topic and one the suggested concepts below.  (Example: airlines AND (supply & demand) AND econom*)

  • Law of Demand, law of diminishing marginal utility
  • Law of Supply, law of diminishing returns (increasing marginal costs)
  • Market Equilibrium
  • Consumer Surplus and Producer Surplus
  • Substitutes and Complements of Consumption
  • Substitutes and Complements in Production
  • Price Elasticity
  • Income Elasticity
  • Opportunity Cost, explicit Costs, implicit costs, sunk costs
  • Economics of scale
  • Profit maximization, marginal cost = marginal benefit
  • Perfect Competitive Markets or Price Take Markets
  • Non-Competitive Markets or Price Searcher Markets (Oligopoly, Monopoly, Monopolistic Competition)
  • Price discrimination
  • Labor markets, productivity and earnings
  • Marginal Revenue Product and Optimum Allocation of Resources
  • Price Controls, regulation, taxes/subsidies
  • International markets, trade barriers, free trade

Search Tips

When researching a question, don't use complete sentences. Instead, use the most important keywords! For example:

How are mobile devices affecting education?

The most important keywords are:

mobile devices AND education

Use Boolean operators to modify your search. This is very useful when you are searching for journal articles!

Boolean Operators

AND     OR     NOT

AND will narrow your search results:
"global warming" AND glaciers

OR will expand your search results:
"mobile devices" OR smartphones

NOT will exclude certain results:
cowboys NOT football

Use quotation marks to search for an exact phrase. This will help you find more specific results! For example:

social media = 8221 results

"social media" = 1140 results

Use an asterisk (*) after a set of letters to perform a truncated search. This will find variations of a word. For example:

musc* 

will find results containing the words... 

muscle, muscular, musculoskeletal, etc.