Eco 365 - 3142 Words

Course Design Guide School of Business ECO/365 Version 4 Principles of Microeconomics Copyright  © 2011, 2008, 2007, 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: †¢ University policies: You must be logged into the student website to view this document. †¢Ã¢â‚¬ ¦show more content†¦Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. 8-5-2013 2 Week Three: Market Structure Details Due Points Objectives 3.1 Compare various market structures and their characteristics. 3.2 Evaluate the effectiveness of competitive strategies within market structures. 3.3 Determine profit-maximizing strategies based on market structure analysis. 8-12-2013 Reading Read Ch. 3 of Economics. 8-12-2013 Reading Read Ch. 14 of Economics. 8-12-2013 Reading Read Ch. 15 of Economics. 8-12-2013 Reading Read Ch. 16 of Economics. 8-12-2013 Participation Participate in class discussion. 8-12-2013 2 Learning Team Current Market Conditions Competitive Analysis Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked your team to do a competitive market analysis to determine the product’s potential success. The analysis will focus on your primary competitor in the product’s market. Select a potential competitive organization and a product in that organization. Write a 1,400 – 1,750-word paper of no more than analyzing the current market conditions. Address the following topics: †¢ A short history of the organization and a description of their product †¢ Factors that affect demand,Show MoreRelatedEco/365651 Words   |  3 PagesWhat is an externality? Provide at least three examples. How does one of the examples you provided affect the market outcome? What is the role of government in addressing the implications of an externality you provided as an example? Is it possible that a government’s solution to a market failure would worsen the failure? Explain your answer. Externality is defined as an effect of a decision on a third party not taken into account by the decision maker. There are two types of externalities beingRead MoreEco 365 Final1137 Words   |  5 PagesFinal Exam University of Phoenix ECO/365 Question One    What is the most important determinant of price elasticity of demand? Why is this so?    Price elasticity that relates to demand is determined by many factors. Price elasticity is measured by the change in price and the response from consumer demand. The demand of a good or service will vary the price in the item. The most important factor to determine the price elasticity of demand is necessity. If a good is a necessity, theRead MoreStudy Guide Eco/3652084 Words   |  9 PagesECO/365 Final Examination Study Guide This study guide prepares you for the Final Examination you complete in the last week of the course. It contains practice questions, which are related to each week’s objectives. Highlight the correct response, and then refer to the answer key at the end of this Study Guide to check your answers. Use each week’s questions as a self-test at the start of a new week to reflect on the previous week’s concepts. When you come across concepts that you are unfamiliarRead MoreEco/365 Essay example628 Words   |  3 PagesSupply and Demand simulation LaKeith A. Atkins Sr. ECO/365 February 28, 2013 Watson Ragin Supply and Demand simulation †¢ Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic. Supply and demand was affected by decreasing the rent to lower the vacancy percentage and maximize revenue for the company. This process is considered a temporary fix on a month-to-monthRead Moreeco 365 week syllabus1755 Words   |  8 Pagesï » ¿ Syllabus School of Business ECO/365 Version 4 Principles of Microeconomics Copyright  © 2011, 2008, 2007, 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies FacultyRead Moreeco/365 week 2 individual1293 Words   |  6 Pagesï » ¿ Supply and Demand Simulation ECO 365 Supply and Demand Simulation The Supply and Demand simulation was reviewed on the student website demonstrated the concepts of the concepts of microeconomics and macroeconomics. The principles of microeconomics and macroeconomics were explained and applied throughout the simulation demonstrate the rationale for the shifts in the supply and demand curve. Each shift is analyzed showing the effects of the equilibriumRead MoreEssay about Eco/365 Supply and Demand863 Words   |  4 PagesSupply and Demand ECO/365 Supply and Demand The economy is run by the concept of supply and demand. The simulation provided a practical learning experience that brings together the concept of micro and macro economics. I will try to summarize my findings and the inner workings of the concept of supply and demand that the simulation offered. Economics is defined as â€Å"the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, socialRead MoreSupply Demand Paper Eco/3651105 Words   |  5 PagesSupply and Demand Simulation University of Phoenix May 9, 2013 ECO/365 - Principles of Microeconomics The Supply and Demand Simulation consist of microeconomics and macroeconomics concepts. The concepts are explained and how they apply to the principle of microeconomics and macroeconomics. The simulations presents shifts in the supply and demand curve, the rationale for the shift is given. Each shift is analyzed showing the effects of the equilibrium price, quantity, and decision makingRead MoreEco 365 Supply Demand Paper1082 Words   |  5 PagesSupply amp; Demand Simulation Erica Bradford ECO/365 June 19, 2013 Jeremy Alessandro Supply amp; Demand Simulation Goodlife Management is the sole provider of apartments available for rent in the city of Atlantis in which the supply and demand simulation provided by UPOX takes place. The simulation provides excellent, real-life examples of how the supply and demand curves may shift based upon various factors that occur within the market in Atlantis. The following details such examples asRead MoreKudler Fine Food- Eco 365 Essay1106 Words   |  5 PagesDifferentiating Between Market Structures in Kudler ECO 365/ Lisa Messemer Sharonda Shelton July 23, 2012 Kudler Foods specializes in providing unique and high quality ingredients for the gourmet chef. In an effort to increase profits, the company is interested in adding catering to its service offerings. The

Confirmation Bias - 945 Words

What is Confirmation Bias? Confirmation bias is a tendency of people to prefer information that reinforces a thought or believe that they have. People demonstrate this bias when they retain information selectively, or when they interpret it in a biased way. The effect is stronger for emotional issues and for deeply rooted beliefs. (Science Daily) Examples of Confirmation Bias There are many everyday examples of people using confirmation bias behavior. A student doing research on only one side to an argument for a paper to confirm their thesis may fail to fully search the topic for information that is inconsistent with what they are writing about. Also a reporter who is writing an article on an important issue may only interview†¦show more content†¦The confirmation bias also affected her perspective of The Children’s Place. She created a belief on false premises making claims that were not true. She created a vague hypothesis in her mind and because of her actions it was enough evidence to prove her hypothesis to be true. Reducing Confirmation Bias When it comes to making a purchase, there are some ways to reduce a confirmation bias. For starters, a person can try their best to set equal standards for all evidence regardless of whether or not it supports or challenges their current view. A person should always be open to changing their mind. On a personal level, a person can reduce a bias by slowing their thinking process down. Instead of going with their gut feeling to buy a product right away, they can take the chance to shop around. It can make a person more moderate and can have them start doubting their initial beliefs and start seeing the other side of the argument. People can make an effort to overcome the confirmation bias by deliberately seeking evidence that contradicts their own viewpoints. Conclusion In all, I believe every person is a perpetrator at some point when it comes to using a confirmation bias. We all second guess ourselves and try to convince ourselves that we made the best decision possible in our actions. It is a bias that we are all guilty of, but it is important to be aware of one’s biases instead of becoming ignorant. Works Cited Nickerson, R. (1998).Show MoreRelatedPsychology And Cognitive Science, Confirmation Bias ( Or Confirmatory Bias )1074 Words   |  5 PagesIn psychology and cognitive science, confirmation bias (or confirmatory bias) is a tendency to search for or interpret information in a way that confirms one s preconceptions, leading to statistical errors. It is a type of cognitive bias and represents an error of inductive inference toward confirmation of the hypothesis under study. Confirmation bias is a phenomenon wherein decision makers have been shown to actively seek out and assign more weight to evidence that confirms their hypothesis, andRead MoreConfirmation Bias In Dante Alighieris The Divine Comedy700 Words   |  3 Pagesabout in society, hostile to tolerance and unity. Veiled as knowledge, this enemy threatens both learning and growth. It’s name is â€Å"confirmation bias†. Coined in the 1960’s by English Psychologist Peter Wason, confirmation bias is defined as an individual’s tendency to seek out and to favor information that confirms their previously held assumptions. Confirmation bias was no new phenomenon, however, as it is referenced throughout history. Even in Dante Alighieri’s The Divine Comedy, when AquinasRead MoreEssay on Prisoners of Silence915 Words   |  4 Pageswoman believes despite evidence because she has seen her daughter make up words for objects she doesnt know the name. Her belief ha s been discredited, but she has found a reason it might be true. Another concept illustrated is that of the Confirmation Bias. It is defined as a tendency to search for information that confirms ones preconceptions and is very similar to belief perseverance in the case of Prisoners of Silence. In this case, the participants of facilitated speech are much more inclinedRead MoreWhat Does The Prosecution Of Wrongful Convictions?1884 Words   |  8 Pagesvision According to Burke (2005), four separate aspects of cognitive bias contributes to the-the maintenance of denial of new evidence in prosecutorial decision making: confirmation bias, selective information processing, belief perseverance, and the avoidance of cognitive dissonance. Confirmation bias leads people to seek and interpret information in a way that supports a view they already hold to be true. While selective bias leads information to be more easily remembered in a way that confirmsRead MoreConfirmation Bias And Non Critical Thinking Qualities1382 Words   |  6 PagesTo thoroughly analyze how and to what extent confirmation bias and non-critical thinking qualities have contributed and essentially modified my overall approach to the Meeting of the Minds project, I first have to clarify the meaning of the terminologies that may need some defining and recapping, for they are not words that would come up in a casual conversation. This will be especially useful for me to be able to accurately address how these readings and discussions over the last few weeks haveRead MoreThe Drunkard s Walk I Had Confirmation Bias832 Words   |  4 PagesBefore I read The Drunkard s Walk I had confirmation bias (haha) towards it. I had seen last years statistics students carrying the book around. It looked really interesting to me and after reading the summary on the back, I had wanted to check it out. When Mr. Letzring told everyone we would read it, some people were disappointed. I by no means enjoy reading, but I was excited to see what the Drunkard s Walk had to bring. I thought it would contain more equations and less conceptual ideas andRead MorePreliminary Bias And The Wason 2-4-6 Paradigm1221 Words   |  5 PagesIn this experiment, we will investigate whether previous participation in a confirmation bias experiment plus full knowledge of confirmation bias and the Wason 2-4-6 paradigm will lead to a higher initial success rate with future testing. A confirmation b ias usually occurs when participants are trying to confirm their beliefs during an experiment. During these experiments, participants results varied between confirmatory and disconfirmatory. The Tukey HSD that was performed for the experiments showedRead MoreSalary Negotiations1732 Words   |  7 Pageswas in favor of both parties. Psychological Biases: There were a couple of biases * Confirmation bias – I was overconfident about the decision I had made and thought that the increment was fair based on the information I had. I never thought that there might be some information which could change the sales figure and show that he had actually achieved an increase in sales for Top Flite. This bias could have cost me dearly had I not realized it after talking to my counterpart over the negotiationRead MoreReflective Report On Negotiation1539 Words   |  7 Pagesthe aforementioned reasons, the results were equivalent to other group outcomes, which reinforced my view that the negotiation had been successful. What impact did cognitive bias have on the negotiation? In hindsight, the confirmation bias played a salient role in the group’s negotiation experience. The confirmation bias is a psychological phenomenon whereby an individual seeks information in their surroundings and interactions that endorse and verify their existing beliefs or opinions. This wasRead MoreDoes Cognitive Bias Influence The Patterns We Exist?1529 Words   |  7 Pagesquestion is to what extent does cognitive bias influence the patterns we see in life? Cognitive bias is defined as pattern of distortion in perception and a deviation from rational decision; irrationality Decision-making, belief and behavioral biases. If a person was to look into human sciences and mathematics as ways of knowing, he or she would determine that cognitive bias is present every time a person sees a pattern. However, they are unable to see the bias for themselves because of the selectivity

Antigone Absolute Power Corrupts Essay - 1636 Words

Power corrupts, and absolute power corrupts absolutely, said Lord Acton generations ago. In the Greek tragedy Antigone, written by Sophocles, there was a character named Kreon, the antagonist, who was the king of Thebes. Thebes was an autocratic state where Kreon had absolute power. Throughout the course of the play, Kreon abused his privilege of absolute power; and this caused him to suffer greatly, even though he was warned by a few people of his bad deeds. What Sophocles commented on absolute power was that one should not abuse it. If it was abused, he or she had to expect bad consequences. This was indicated by what happened to Kreon when he abused his power. Kreon settled a decree that prohibited anyone from burying Polyneices†¦show more content†¦I have long believed so (217-221). To impress the senate Kreon told them that he would listen to any advice they gave him because that was what a good ruler should do. However, this was not how he reacted when Kreon heard that somebody buried Polyneices body. While he was talking to the senate, a sentry came in and told Kreon that Polyneices body had been buried. ...somebody up and buried the corpse and went off: sprinkled dust over it and did the ceremonies youre supposed to (310-312). Kreon got very angry and threatened to kill the sentry if he didnt find the culprit who had buried the body. Kreon thought that all of the sentries were bribed into not telling him who was the culprit (372-391). Koryphaios suggested that the gods might have had buried the body: My lord, we have been considering whether a god might not have done this (350-351). Just like a dictator, as if he knew the ac tions of the gods, he declared that it was impossible for the gods to honor (bury) criminals (363-364). He defied what Koryphaios had said and just declared that the gods would never bury Polyneices, and he got his way. Before, Kreon had said that a good ruler like himself would listen to people, but Kreon did not do that. He went against what he had said. This showed that Kreon was very hypocritical, and he always only declared what he thought was right. Some time passed, and the sentry came in the palaceShow MoreRelatedEssay on The Arrogance and Hubris of Oedipus and Creon724 Words   |  3 Pages In ‘Antigone†, Ismene says, â€Å"To them that walk in power; to exceed is madness, and not wisdom†. Her statement makes it clear, those who â€Å"walk in power†, allow it to corrupt them. Throughout the history of humanity there has been a correlation between those who have excessive power and corruption. Webster’s Dictionary defines corruption as, â€Å"impairment of integrity, virtue, or moral principle†. In the story of Antigone the tragic hero Creon, shows all of the common characteristics of corruptionRead MorePower, Hubris, And Hamartia Sophocles Antigone1627 Words   |  7 PagesHonors October 31, 2015 Power, Hubris, and Hamartia in Sophocles s Antigone Lord Acton, a well-known British historian, writer, and politician, resonated the repercussions of power and dominance by stating that All power tends to corrupt; absolute power corrupts absolutely† (Moreell, Power Corrupts). This is just one of the themes covered in Sophocles s Antigone. Within this dramatic play, Sophocles questions the conventions of hubris, hamartia, and power. They all play a roleRead MoreAn Individual s Moral Conscience1439 Words   |  6 PagesMajority of man’s belief creates laws to govern and protect the people, but an individual’s own belief can do just as much while staying true to justice. In the play Antigone by Sophocles, shows the conflation of both an individual and majority’s moral conscience through the rightness of justice. The citizens of Thebes seek justice for their past king, but others respect the law and deny his burial. As time forwards there are changes, the law is at a standstill and can o nly change if the majorityRead MoreHow Power Can Be Corrupted Through Hubris And Invokes The Limits Of Power Of A Ruler1512 Words   |  7 Pages Sophocles shows how power can be corrupted through hubris and invokes the limits of power of a ruler. Also, Sophocles exposes how the presence of dominance can Antigone continues to argue with Creon over the justification of her harsh sentence. Within the heated debate, Antigone says to Creon that â€Å"Not a man here would say the opposite, were his tongue not locked in fear. Unfortunately, tyranny (blessed in so much else besides) can lay down the law down any way it wants† (SophoclesRead MoreAntigone, By Sophocles And Anouilh s Versions Of The Modern Version Of Power1259 Words   |  6 Pages Procession of power tends to limit one’s perception and expose its corruption. For instance, Creon’s misogynistic tendencies in Antigone substantiate the idea that abuse of power causes one’s self-immolation. Antigone is a tragedy based on Greek mythology first written by Sophocles, and was later adapted by Jean Anouilh as the modern ve rsion. In like manner, the Creon in both versions plays the same antagonist but different characterization. Creon in Sophocles’ version seeks adoptionRead More moralant Essay on the Moral Dilemma in Sophocles Antigone885 Words   |  4 Pages Antigone:nbsp; Barbaric King, Hopeful Princess and Moral Dilemma Antigone is a play that mainly deals with differences among characters that cause life long drawbacks and threatening resolutions. The drama is portrayed through Antigone and Creons characters who undoubtedly resemble each other. Although they try to be masters of their own fate and eventually succumb to grieving outcomes, they both seem to have the values of a tragic hero. Although, they have their differences, their battleRead MoreSophocles Antigone: 441-442bc1285 Words   |  6 Pagescatalyst of change and concern of the period was democracy. From here stems ideas such as the nature, role and respect of and for the gods, and the individual. The drama of Antigone reflects these concerns in the context it was written through various ways. Athens in the middle of the fifth century BC was at the peak of its power. It attracted foreigners, writers and artists through its wealth, customs and more importantly the freedom of a democracy. However, there was tension between Sparta andRead MoreAntigone : A Greek Tragic Playwright1761 Words   |  8 PagesAntigone is a Greek tragic playwright, set in a classical era of time. During this period, the city of Thebes is completely organized around strict gender roles and religion. There are also expectations that the citizens are expected to meet through abiding by the rules. In this regard, this essay will look at the playwright, on aspects touching on the issues of interest, the historical context, the insight gained among others. The situation of the two sisters: Antigone and Ismene, who are comfortingRead MoreOedipus and Antigone2785 Words   |  12 PagesTruth in the Eyes of Justice Greek theater encompassed many aspects that reflected the moral values and ideals of society. Their customs were tightly woven into the scripts of plays. Antigone and Oedipus the King, two renowned works of the Greek playwright Sophocles, explore these values through a plot thick with corruption, virtue, and determination. These plays reveal the burdens two Theban kings, Oedipus and Creon, as their lies and poor judgment corrode the integrity of their city, their

Information and Communication Technology Development free essay sample

The continuity of any technological innovation is dependent on its sustenance by the upcoming generation and this automatically puts the youths under the spotlight when it comes to maximizing the development opportunities opened up by ICT, particularly for developing nations. The looming digital divide and a widening of the economic gap between developed and developing nations will definitely evolve if the opportunities created by ICT are not maximized by the developing nations and it is obvious tat the youths have a role to play in this venture. The present curriculum in Nigerian Universities (for example), which has since gone out of phase with global trends, is subject to review. This leaves the youths with the challenge of self-improvement beyond the formal academic system. A shift from the certificate-oriented system to a certification and knowledge-based system must be encouraged to avoid the introduction of half-baked graduates within the national productivity cycle. A re-orientation and paradigm shift is necessary in developing nations, where the technology importation mindset is prevalent. We will write a custom essay sample on Information and Communication Technology Development or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page