is econ a necessary part of life and if so, then why?

Wha happens to the global competitiveness landscape when automation reduces the labor cost?

Suppose that the USD has been significantly appreciating against the Japanese yen over the last several months and that the Federal Reserve is considering sterilized direct intervention to reverse this trend. What sterilized intervention steps would the Fed take to reverse the recent USD appreciation? That is, clearly and explicitly state the exact steps taken (and the timing of steps: Are the steps taken sequentially? Or are they taken at the same time?) to engage in the necessary sterilized direct intervention. Be sure to clearly specify which currencies are being exchanged and what government securities are being bought and sold (and by whom) – the details are important.

Is economics important for STEM occupations?

1) Consider a small country whose actions does not affect the world interest rate. Draw a loanable funds market for the country and analyze how Net Export and Net Capital Outflow changes when the following happens. Draw different graphs for each case.

a) The country’s government implements a policy to lower income taxes while keeping the government budget unaffected

b) The US (a powerhouse in the World market) implements a contractionary monetary policy to raise interest rate

Assume that you will run the following regression: yt = α + βxt + ut. You believe that the errors might be serially correlated in the following fashion: ut = γ0 + γ1ut−1 + εt

a) Will OLS estimation be inconsistent? Why?

1. What is First Order Autocorrelation and what effect does it have on the Least Squared Estimates of Linear regression model?

Suppose a profit-maximizing firm can effectively engage in second-degree price discrimination and is the only firm present in this market. The firm wishes to (and successfully does) impose a block tariff that consists of three separate blocks. The inverse market demand curve is given by P = a − bQ. The firm’s total cost curve is T C = f + cQ.

The firm’s profit-maximizing total quantity sold?

QUESTION 1

1. Payback period is the length of time needed for the sum alternative's costs and benefits at a given interest rate to equal zero (0).

   True

   False

QUESTION 2

1. When evaluating mutually-exclusive alternatives using B-C Ratio analysis, the alternative with the greatest B-C ratio is the most advantageous.

   True

   False

QUESTION 3

1. A discounted payback period is shorter than a non-discounted payback period because it doesn't assume a zero interest rate.

   True

   False

QUESTION 4

1. Timothy has a classic sports car that he bought in 2005 for $35,000. What type of analysis should he use to determine the car's estimated value in 2030?

   		Present Worth
   		Benefit-Cost Ratio
   		Equivalent Uniform Annual Worth
   		Future Worth

QUESTION 5

1. Which of the following statements does NOT describe an economically viable alternative?

   	1.	The Present Worth of the costs divided by the Present Worth of the benefits is greater than 1.
   	2.	The Equivalent Uniform Annual Cost divided by the Equivalent Uniform Annual Worth is less than 1.
   	3.	The Benefit-Cost Ratio is equal to or greater than 1.
   	4.	The Present Worth of the costs minus the Present Worth of the benefits is less than 0.

EMPLOYEE DEVELOPMENT AT ESPN Entertainment and Sports Programming Network, known as ESPN, is in the global multimedia sports and entertainment business. To remain in its leadership role in the sports and entertainment business, ESPN needs to continue to provide the best live sports programming as well as expand and develop its digital presence through social media. To do so, ESPN recognizes the importance of creating exceptional employee experiences through its commitment to people, partnerships, culture, and excellence. Employee development plays a key role in helping to create exceptional employee experiences at ESPN. But employee development at ESPN faces several challenges. One challenge is the speed at which the global news, broadcasting, and entertainment business operates. This can make it difficult for employees to take the time away from activities such as producing and delivering programming to focus on development activities. Another challenge is that ESPN has reportedly been asked by its parent company, Disney, to cut as much as $250 million from this year’s budget. This likely will result in layoffs for 200–300 employees. ESPN has taken several steps to ensure that its development efforts overcome these challenges and support employees’ career interests and goals, enhance their skills, and grow top leadership talent. ESPN requires every employee to complete an individual development plan (IDP). The IDP helps employees consider where they currently are in their careers, their career goals, and how they plan to reach their career goals. The learning function at ESPN reviews and supports the IDP, which has been completed by over 95% of employees. Similar to other companies, ESPN uses the 70-20-10 approach to development. This means that most employee development occurs on the Page 418job, whereas 20% comes from relationships and informal learning, and 10% from formal courses targeted at specific skills. For example, ESPN has a Leadership GPS, which is a tool used by employees to track their development progress. The Leadership GPS helps employees set development goals. It also provides advice on which types of development activities (such as courses, job shadowing, or experiences) are available and will help them meet their goals. ESPN The University offers courses related to different business areas, which are taught by executives and business leaders. This is important because its gets company leaders from different business areas involved in developing employees. It also helps to provide employees with a greater understanding of the different aspects of ESPN’s business such as production, programming, and HR and how they fit together. ESPN Center Court is a development program targeted exclusively to high-potential employees who are on the fast track to future leadership roles in the company. Center Court uses job rotations to give high-potential employees the opportunity to experience different aspects of the business. They also interact with the company’s president and top executives. To facilitate development through relationships, ESPN has a mentoring program known as Open Access that is available to all employees. The only requirements are that employees desire to learn from others and want to build relationships to achieve their development goals. To ensure that development activities support business needs, ESPN has a learning and advisory board, which includes senior leaders and vice presidents from its different businesses. Every major initiative is reviewed and has to receive support from the board before it is implemented. Also, the Employee Learning Council, which includes employees from each of ESPN’s business units, provides feedback and helps to plan development programs.

How could ESPN identify employees with the potential for top leadership positions?

Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit? In each case, justify your classification.

a. a supermarket in your hometown

b. the steel industry

c. a Kansas wheat farm

d. the commercial bank in which you or your family has an account

e. the automobile industry.

Briefly explain what school accountability policies are and provide the economic arguments that support these policies.