ECOCB/535: The Digital Economy

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ECOCB535v1_comp1_rubric4.pdf

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ECOCB/535 Competency 1 - Assessment and Rubric Course Title: The Digital Economy

Competency Assessment Title: Impact of Economic Events and Economic Concentration

Total Number of Points: 100

Assignment Directions:

To complete this assessment, you will create a report comprised of two parts. In Part 1, you will analyze how 2 major economic events influenced supply, demand, and economic equilibrium in the U.S. In Part 2, you will evaluate economists’ assessments of the role the 4 factors of production played in determining how the economic concentration you selected has evolved.

Imagine that you are a business consultant tasked with sharing the concepts below with a team of interns who will be supporting the research aspects tied to a new initiative requiring knowledge about economic influence and economic concentration. The use of charts and tables to illustrate data is highly encouraged to help the interns connect the dots.

Create a report incorporating the following:

Part 1: Economic Events & Activity Analysis

Review the Competency 1 Resources: Economic Fundamentals. Write a 500- to 750-word analysis (Part 1 of your report) assessing how 2 of the following major economic events influenced supply, demand, and economic equilibrium in U.S. economic activity:

• Rapid price increases, such as those caused by the 1973 oil embargo or the aftermath of a major hurricane

• Dramatic employment drops, such as the combined impact of the 2006 housing bubble burst and the subsequent Great Recession

• Crippling interest rates imposed by the Federal Reserve, such as those during the 1975–1985 time period

• Collapse of the Soviet Union in 1991 and the end of the Cold War and the “peace dividend”

• The dot-com bubble from 1994 to 2000, and the subsequent dot-com crash

Part 2: Economic Concentration Evaluation

Review the Competency 1 Resources: Factors of Production & Economic Concentration. Select 1 of the economic concentrations (clusters) below:

• Seattle-Tacoma-Olympia, WA aerospace / defense industry

• Central California winemaking industry

• Hollywood movie industry

https://library.phoenix.edu/ECO535r1/w2

• Silicon Valley Technology hub

• Texas / Louisiana Gulf Coast crude oil and natural gas production and refining

• Pre-1994 vs Post-1994 US auto and light truck production and the reasons for the change in economic concentration Write a 700- to 1,050-word evaluation (Part 2 of your report) of economists’ assessments of the role the 4 factors of production played in determining how the economic concentration you selected has evolved. Complete the following in your evaluation:

• Analyze how the economic concentration in the area you chose was influenced by competition and pricing.

• Analyze how the economic concentration in the area you chose influenced the supply chain.

• Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose.

• Predict changes you anticipate for the area of economic concentration you chose. Support your predictions. Consider the resources provided and other academically appropriate sources. Compile Parts 1 and 2 into one report. Cite at least 2 academically credible sources for each part. The use of charts and tables to illustrate data is highly encouraged. Submit your report.

ECOCB/535 Competency 1 Rubric Page 3 of 4

Competency Assessment Rubric

Assignment/ Performance Criteria Mastery

100% Meets Expectations

85% Not Met

0% 1. Part 1 - Major Event 1: Supply, Demand, and Economic Equilibrium

(weight 25%)

Thoroughly analyzed the first selected major economic event influenced supply, demand and economic equilibrium in US economic activity.

Partially analyzed how major economic event influenced supply, demand and economic equilibrium in US economic activity.

Narrowly analyzed how the first selected major economic event influenced supply, demand and economic equilibrium in US economic activity or no attempt to analyze how the first selected major economic event influenced supply, demand and economic equilibrium in US economic activity.

2. Part 1 - Major Event 2: Supply, Demand, and Economic Equilibrium

(weight 25%)

Thoroughly analyzed how the second selected major economic event influenced supply, demand and economic equilibrium in US economic activity.

Partially analyzed how the second selected major economic event influenced supply, demand and economic equilibrium in US economic activity.

Narrowly analyzed how the second selected major economic event influenced supply, demand and economic equilibrium in US economic activity or no attempt to analyze how the second selected major economic event influenced supply, demand and economic equilibrium in US economic activity.

3. Part 2 - Economic Concentration: Influenced by Competition and Pricing

(weight 10%)

Thoroughly analyzed how the selected economic concentration was influenced by competition and pricing.

Partially analyzed how the selected economic concentration was influenced by competition and pricing.

Narrowly analyzed how the selected economic concentration was influenced by competition and pricing or no attempt to analyze how the selected economic concentration was influenced by competition and pricing was made.

4. Part 2 - Economic Concentration: Influenced by Supply Chain

(weight 10%)

Thoroughly analyzed how the selected economic concentration influenced the supply chain.

Partially analyzed how the selected economic concentration influenced the supply chain.

Narrowly analyzed how the selected economic concentration influenced the supply chain or no attempt to analyze how the selected economic concentration influenced the supply

chain was made.

5. Part 2 - 4 Factors

(weight 10%)

Thoroughly analyzed which of the four factors of production were the most and least important in determining the economic concentration and the relationship between the factors of production and economic concentration.

Partially analyzed which of the four factors of production were the most and least important in determining the economic concentration and the relationship between the factors of production and economic concentration.

Narrowly analyzed which of the four factors of production were the most and least important in determining the economic concentration and the relationship between the factors of production and economic concentration or no attempt to analyze which of the four factors of production were the most and least important in determining the economic concentration of the location chosen was made.

6. Part 2 - Predicted Changes

(weight 10%)

Thoroughly evaluated the area of economic concentration to predict anticipated changes.

Partially evaluated the area of economic concentration to predict anticipated changes.

Narrowly evaluated the area of economic concentration to predict anticipated changes or no attempt to evaluate the area of economic concentration to predict anticipated changes was made.

7. Communication

(weight 5%)

Accuracy in grammar, sentence structures, sentence boundaries, and word choice enhanced content.

Rare inaccuracies/errors in grammar, sentence structures, sentence boundaries, and word choice did not detract from the content.

Occasional or frequent inaccuracies/errors in grammar, sentence structures, sentence boundaries, and word choice detracted some from the content.

8. Information Literacy

(weight 5%) Fully integrated relevant supporting evidence from quality sources.

Mostly integrated relevant supporting evidence from quality sources.

Minimally integrated relevant supporting evidence from quality sources or no attempt was made to integrate quality sources.