ECO 201 Final Project Guidelines and Rubric

Overview
The final project for this course is the creation of a research paper. Every day, millions of economic choices are made by people—from what brand of soap to buy
to how many employees to hire for a factory. Microeconomics provides us with the tools, models, and concepts to better understand individual choices in the
marketplace and how resource allocation is determined at the micro level. The decisions made by individuals and households impact the market and influence
decisions made by firms. Firms use these tools as a way to determine pricing, output, and profit maximization. As a student of economics, you can use the
microeconomic principles to gain an understanding of how firms and individuals make decisions and also to make your own conclusions about actions we can
take to improve those decisions.

Now, imagine that you are a consultant to the firm of your choice. The firm has hired you to advise it on how it can ensure its future success as a company in its
current market. To do this, you will write a 7–9-page research paper analyzing market and business data to explain how the core microeconomic principles impact
the sustainability of the firm and what actions it can take to ensure success.

The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final
submissions. These milestones will be submitted in Modules Two, Four, and Five. The final submission will occur in Module Seven.

In this assignment, you will demonstrate your mastery of the following course outcomes:

 Apply microeconomic models to real-world situations for informing effective business decisions
 Analyze business and market data using microeconomic tools for their impact on business sustainability
 Evaluate the structure of various markets for informing effective decision-making strategies
 Assess the behavior and decisions of individuals and firms for their relation to the microeconomic framework

Prompt
You will work with your instructor to choose a firm for which you can find reliable data and information, both at the firm level and the industry level. The firm you
select must be a publicly traded company, must operate in the U.S. market, and must currently be in business. You will need instructor approval before continuing
on with your research paper in order to ensure you have met the necessary requirements. Publicly traded companies file reports with a great deal of data that
you will find useful for your analysis. Once you have selected a firm for your case study, you will gather information and data relevant to the firm and its industry
and use the core microeconomic principles you have learned in class to analyze the information and make a recommendation for your firm. You will compose a
7–9-page research paper in which you will analyze the market and business data to explain how the core microeconomic principles impact the sustainability of
the firm, and your recommendation will suggest the actions the firm can take to ensure success.
Specifically the following critical elements must be addressed:

I. Introduction
Work with your instructor to choose a firm that matches the following criteria: a publicly traded company operating in the U.S. market that is currently in
business.
a) Outline the purpose of this paper and how it will inform your conclusion.
b) Summarize the history of the firm, and provide an overview for what the firm does and what goods/services it sells.
II. Explore the supply and demand conditions for your firm’s product.
a) Evaluate trends in demand over time, and explain their impact on the industry and the firm. You should consider including annual sales figures
for the product your firm sells.
b) Analyze information and data related to the demand and supply for your firm’s product(s) to support your recommendation for the firm’s
actions. Remember to include a graphical representation of the data and information used in your analysis.
III. Examine the price elasticity of demand for the product(s) your firm sells.
a) Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity
of demand for your firm’s product.
b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your
guide.
c) Assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth.
IV. Examine the costs of production for your firm.
a) Analyze the various costs a firm faces, their trends over time, and how they have impacted your firm’s profitability.
b) Apply the concepts of variable and fixed costs to your firm for informing its output decisions. For instance, analyze how different kinds of costs
(labor, research and development, raw materials) affect the firm’s level of output.
V. Explore the overall market for your firm.
a) Discuss the market share of the firm and its top competitors by providing details on current percentages for each firm and describing the trend
over time. You might consider presenting the data graphically.
b) Analyze the barriers to entry in this market to illustrate the potential for new competition and its impact on your firm’s future in the market.
c) Describe the market structure for this firm, and analyze how this affects the firm’s ability to influence the market.
VI. Recommendation
a) Develop a recommendation for how the firm can manage its future production by synthesizing the data presented.
b) Suggest how the firm’s position within the market and among its competitors will allow it to take your recommended action.
c) Describe how the firm can sustain its success going forward by evaluating the findings from demand trends and price elasticity.

Milestones
Milestone One: Introduction
In Module Two, you will submit a draft of the introduction (Section I) of your research paper, including all critical elements of Section I as listed above. In one to
two pages, you will detail the purpose of the paper, summarize the history of the firm, and provide an overview of the firm. This milestone is graded with the
Milestone One Rubric.

Milestone Two: Supply and Demand Conditions and Price Elasticity of Demand
In Module Four, you will submit a draft of the supply and demand conditions (Section II) and price elasticity of demand (Section III) of your research paper,
including all critical elements as listed above for each of those sections. Each of these sections should be one to two pages in length and should incorporate
relevant data and supporting evidence. This milestone is graded with the Milestone Two Rubric.

Milestone Three: Costs of Production, Overall Market, and Recommendation

In Module Five, you will submit a draft of the costs of production (Section IV), overall market (Section V), and recommendation (Section VI) of your research
paper, including all critical elements as listed above for each of those sections. Each of these sections should be one to two pages in length and should
incorporate relevant data and supporting evidence. This milestone is graded with the Milestone Three Rubric.

Final Submission: Research Paper

In Module Seven, you will submit your research paper. It should be a complete, polished artifact containing all of the critical elements of the final project. It
should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.

Deliverables
Milestone Deliverables Module Due Grading
1 Introduction Two Graded separately; Milestone One Rubric
2 Supply and Demand Conditions and Four Graded separately; Milestone Two Rubric
Price Elasticity of Demand
3 Costs of Production, Overall Market, Five Graded separately; Milestone Three Rubric
and Recommendation
Final Submission: Research Paper Seven Graded separately; Final Project Rubric
 Final Project Rubric
Guidelines for Submission: Your research paper must be 7 to 9 pages in length (plus a cover page and references) and must be written in APA format. Use double
spacing, 12-point Times New Roman font, and one-inch margins. Include at least five references cited in APA format.

Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information,
review these instructions.

Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value
Introduction: Meets “Proficient” criteria and Outlines the purpose of the Outlines the purpose of the Does not outline the purpose of 6.5
Purpose uses industry-specific language to paper and how it will inform the paper, but does not explain how the paper
establish expertise conclusion it will inform the conclusion
Introduction: History Meets “Proficient” criteria, and Comprehensively summarizes the Summarizes the history of the Does not summarize the history 6.5
and Overview choice of company is well suited history of the firm and provides firm and provides an overview for of the firm or provide an
to the analysis an overview for what the firm what the firm does and what overview
does and what goods/services it goods/services it sells, but
sells summary is not comprehensive
or overview lacks details
Conditions: Impact Meets “Proficient” criteria and Effectively evaluates trends in Evaluates trends in demand over Does not evaluate trends in 6.5
explains in detail reasons for the demand over time and explains time, but evaluation is ineffective demand over time
trend their impact on the industry and or does not explain their impact
the firm on the industry and firm
Conditions: Firm’s Meets “Proficient” criteria and is Analyzes information and data Analyzes information and data Does not analyze information and 6.5
Actions well qualified with concrete related to the demand and related to the demand and data related to the demand and
examples supply for the firm’s product(s) to supply for the firm’s product(s), supply for the firm’s product(s)
support recommendation for the but information and data do not
firm’s actions and includes support recommendation for the
graphical representation of data firm’s actions or do not include
and information graphical representation of data
and information
Price Elasticity of Meets “Proficient” criteria and Analyzes the available data and Analyzes the available data and Does not analyze the available 6.5
Demand: Analyze uses research to illustrate claims information and justifies how the information, but does not justify data and information to
price elasticity of demand for the how the price of elasticity of determine the price elasticity of
firm’s product was determined demand for the firm’s product demand
was determined
 Price Elasticity of Meets “Proficient” criteria and Explains the factors that affect Explains the factors that affect Does not explain the factors that 6.5
Demand: Consumer reviews all factors of elasticity consumer responsiveness to consumer responsiveness to affect consumer responsiveness
Responsiveness price changes for the product price changes for the product, to price changes for the product
using the concept of price but does not use the concept of
elasticity of demand as a guide price elasticity of demand as a
guide
Price Elasticity of Meets “Proficient” criteria and Accurately assesses how the price Assesses how the price elasticity Does not assess how the price 6.5
Demand: Pricing uses research to illustrate claims elasticity of demand impacts the of demand impacts the firm’s elasticity of demand impacts the
Decisions firm’s pricing decisions and pricing decisions and revenue firm’s pricing decisions and
revenue growth growth, but assessment is revenue growth
inaccurate
Costs of Production: Meets “Proficient” criteria and Analyzes the various costs a firm Analyzes the various costs a firm Does not analyze the various 6.5
Profitability provides concrete examples to faces, their trends over time, and faces and their trends over time, costs a firm faces, their trends
substantiate claims how they have impacted the but does not discuss how they over time, or how they have
firm’s profitability have impacted the firm’s impacted the firm’s profitability
profitability
Costs of Production: Meets “Proficient” criteria and Accurately applies the concepts Applies the concepts of variable Does not apply the concepts of 6.5
Output Decisions provides insight into how the firm of variable and fixed costs to the and fixed costs to the firm for variable and fixed costs to the
can manage those costs firm for informing its output informing its output decisions, firm for informing its output
decisions but applies concepts inaccurately decisions
Overall Market: Meets “Proficient” criteria and Discusses the market share of the Discusses the market share of the Does not discuss the market 6.5
Market Share presents the data graphically and firm and its top competitors by firm and its top competitors, but share of the firm and its top
over time providing details on current does not provide details on competitors
percentages for each firm and current percentages for each firm
describing the trend over time or does not describe the trend
over time
Overall Market: Meets “Proficient” criteria and Analyzes the barriers to entry in Analyzes the barriers to entry in Does not analyze the barriers to 6.5
Barriers to Entry provides specific examples of this market to illustrate the this market, but does not entry in this market
successful and/or failed entrants potential for new competition illustrate the potential for new
into the market and its impact on the firm’s competition or its impact on the
future in the market firm’s future in the market
Overall Market: Meets “Proficient” criteria and Describes the market structure Describes the market structure Does not describe the market 6.5
Market Structure provides specific examples to for this firm and accurately for this firm, but does not analyze structure for this firm
demonstrate the market analyzes how this affects the how this affects the firm’s ability
structure and firm’s influence firm’s ability to influence the to influence the market or
market analysis is inaccurate
Recommendation: Meets “Proficient” criteria and Effectively develops a Develops a recommendation for Does not develop a 6.5
Future Production relates recommendation to the recommendation for how the how the firm can manage its recommendation
economic principles presented in firm can manage its future future production, but
the paper production by synthesizing the recommendation is not effective
data presented or is not based on a synthesis of
the data presented
Recommendation: Meets “Proficient” criteria and Suggests how the firm’s position Suggests how the firm’s position Does not suggest how the firm’s 6.5
Recommended provides advice for how to within the market and among its within the market and among its position within the market and
Action strengthen its position in the competitors will allow it to take competitors will allow it to take among its competitors will allow
market the recommended action the recommended action, but it to take the recommended
suggestions are not appropriate action
Recommendation: Meets “Proficient” criteria and Describes how the firm can Describes how the firm can Does not describe how the firm 6.5
Sustain its Success provides specific ideas for how sustain its success going forward sustain its success going forward, can sustain its success going
the firm can sustain its success by evaluating the findings from but does not evaluate the forward
demand trends and price findings from demand trends and
elasticity price elasticity in the discussion
Articulation of Submission is free of errors Submission has no major errors Submission has major errors Submission has critical errors 2.5
Response related to citations, grammar, related to citations, grammar, related to citations, grammar, related to citations, grammar,
spelling, syntax, and organization spelling, syntax, or organization spelling, syntax, or organization spelling, syntax, or organization
and is presented in a professional that negatively impact readability that prevent understanding of
and easy-to-read format and articulation of main ideas ideas
Earned Total 100%