Reference no: EM131873853
Purpose of Assignment
Week 5 exposes students to subjects that are intended to whet their appetites for further study in economics.
Students will use the theory of consumer choice and the impact of the concepts of asymmetric information, political economy, and behavior economics, to describe how consumers make economic decisions.
Assignment Steps
Scenario: You have been asked to assist your organization's marketing department to better understand how consumers make economic decisions.
Develop a 15- to 20-slide Microsoft® PowerPoint® presentation and PRESENT THIS TO THE CLASS in a minimum 10minute presentation.
Include the following:
• The impact the theory of consumer choice has on:
o Demand curves
o Higher wages
o Higher interest rates
• The role asymmetric information has in many economic transactions.
• The Condorcet Paradox and Arrow's Impossibility Theorem in the political economy.
• People are not rational in behavior economics.
Cite a minimum of three peer-reviewed sources not including your textbook.
Include detailed speaker notes for each slide, except for the introducing and references slides.
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