economics (6 pages)
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ECON625 Final Paper Rubric-200 Points |
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CATEGORY |
Excellent |
Good |
Novice |
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Market Demand: Nature of the Product or Service
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40 to 31 Points · At least two concepts are discussed with considerable depth. (Questions illustrating some sample concepts can be found after this rubric.) · Information presented is clearly related to economic theories, concepts and main ideas of the course. Writing reflects a sophisticated understanding of these concepts.
· Information is synthesized and implications for business success and growth are analyzed. Implications can include both positive indicators and possible limitations. · Writing demonstrates original or innovative thinking. Writer communicates insight and perceptiveness in making connections.
· Discussion begins with strong objective facts and then progresses to interpretation, application, and analysis. |
30 to 21 Points · At least one concept is discussed with some depth. A second concept may be described without discussion or analysis.
· Information presented may be related to economic concepts but relationship is not clearly identified and may not be apparent to the reader. Writing reflects a basic understanding of economic concepts.
· Relevant observations are reported but potential for business success and potential for growth are not analyzed.
· Writing demonstrates some original or innovative thinking. Writer communicates some insight and perceptiveness in making connections.
· Discussion tends more toward reporting without interpretation, application, or analysis. |
20 to 0 Points · Concepts are described without discussion or analysis.
· Information presented is not clearly related to economic theories, concepts, or main ideas of the course. Writing does not reflect an understanding of basic economic concepts.
· Comments are not supported with valid sources. Reported information is not analyzed OR impacts on business success and potential growth are not presented.
· Writing does not demonstrate original or innovative thinking. Writer does not communicate insight and perceptiveness in making connections.
· Discussion is almost entirely reporting without any interpretation, application, or analysis. |
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Market Demand: Characteristics and Behaviors of Consumers
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40 to 31 Points · At least two concepts are discussed with considerable depth. (Questions illustrating some sample concepts can be found after this rubric.)
· Information presented is clearly related to economic theories, concepts and main ideas of the course. Writing reflects a sophisticated understanding of these concepts.
· Information is synthesized and implications for business success and growth are analyzed. Implications can include both positive indicators and possible limitations.
· Writing demonstrates original or innovative thinking. Writer communicates insight and perceptiveness in making connections.
· Discussion begins with strong objective facts and then progresses to interpretation, application, and analysis. |
30 to 21 Points · At least one concept is discussed with some depth. A second concept may be described without discussion or analysis.
· Information presented may be related to economic concepts but relationship is not clearly identified and may not be apparent to the reader. Writing reflects a basic understanding of economic concepts.
· Relevant observations are reported but potential for business success and potential for growth are not analyzed.
· Writing demonstrates some original or innovative thinking. Writer communicates some insight and perceptiveness in making connections.
· Discussion tends more toward reporting without interpretation, application, or analysis. |
20 to 0 Points · Concepts are described without discussion or analysis.
· Information presented is not clearly related to economic theories, concepts, or main ideas of the course. Writing does not reflect an understanding of basic economic concepts.
· Comments are not supported with valid sources. Reported information is not analyzed OR impacts on business success and potential growth are not presented.
· Writing does not demonstrate original or innovative thinking. Writer does not communicate insight and perceptiveness in making connections.
· Discussion is almost entirely reporting without any interpretation, application, or analysis. |
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Market Supply: Production
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40 to 31 Points · At least two concepts are discussed with considerable depth. (Questions illustrating some sample concepts can be found after this rubric.)
· Information presented is clearly related to economic theories, concepts and main ideas of the course. Writing reflects a sophisticated understanding of these concepts.
· Information is synthesized and implications for business success and growth are analyzed. Implications can include both positive indicators and possible limitations.
· Writing demonstrates original or innovative thinking. Writer communicates insight and perceptiveness in making connections.
· Discussion begins with strong objective facts and then progresses to interpretation, application, and analysis. |
30 to 21 Points · At least one concept is discussed with some depth. A second concept may be described without discussion or analysis.
· Information presented may be related to economic concepts but relationship is not clearly identified and may not be apparent to the reader. Writing reflects a basic understanding of economic concepts.
· Relevant observations are reported but potential for business success and potential for growth are not analyzed.
· Writing demonstrates some original or innovative thinking. Writer communicates some insight and perceptiveness in making connections. · Discussion tends more toward reporting without interpretation, application, or analysis. |
20 to 0 Points · Concepts are described without discussion or analysis.
· Information presented is not clearly related to economic theories, concepts, or main ideas of the course. Writing does not reflect an understanding of basic economic concepts.
· Comments are not supported with valid sources. Reported information is not analyzed OR impacts on business success and potential growth are not presented.
· Writing does not demonstrate original or innovative thinking. Writer does not communicate insight and perceptiveness in making connections.
· Discussion is almost entirely reporting without any interpretation, application, or analysis. |
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Market Structure |
40 to 31 Points · At least two concepts are discussed with considerable depth. (Questions illustrating some sample concepts can be found after this rubric.)
· Information presented is clearly related to economic theories, concepts and main ideas of the course. Writing reflects a sophisticated understanding of these concepts.
· Information is synthesized and implications for business success and growth are analyzed. Implications can include both positive indicators and possible limitations.
· Writing demonstrates original or innovative thinking. Writer communicates insight and perceptiveness in making connections.
· Discussion begins with strong objective facts and then progresses to interpretation, application, and analysis. |
30 to 21 Points · At least one concept is discussed with some depth. A second concept may be described without discussion or analysis.
· Information presented may be related to economic concepts but relationship is not clearly identified and may not be apparent to the reader. Writing reflects a basic understanding of economic concepts.
· Relevant observations are reported but potential for business success and potential for growth are not analyzed.
· Writing demonstrates some original or innovative thinking. Writer communicates some insight and perceptiveness in making connections.
· Discussion tends more toward reporting without interpretation, application, or analysis. |
20 to 0 Points · Concepts are described without discussion or analysis.
· Information presented is not clearly related to economic theories, concepts, or main ideas of the course. Writing does not reflect an understanding of basic economic concepts.
· Comments are not supported with valid sources. Reported information is not analyzed OR impacts on business success and potential growth are not presented.
· Writing does not demonstrate original or innovative thinking. Writer does not communicate insight and perceptiveness in making connections.
· Discussion is almost entirely reporting without any interpretation, application, or analysis. |
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Introduction and Conclusion |
20 to 16 Points Introduction: · The introduction identifies the chosen location and industry and indicates the purpose of the paper.
· The thesis statement provides a recommendation as to whether new business entry in this industry and location has potential for success.
· The introduction provides the reader with sufficient background information on the topic.
Conclusion: · Conclusion clearly states the recommendation and captures the focus of the paper.
· The conclusion summarizes the writer’s main points (aspects) of the paper.
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15 to 11 Points Introduction: · The introduction includes some but not all of: 1)the chosen location, 2)the chosen industry and 3)clear statement of the purpose of the paper.
· A recommendation is implied but is not clearly presented in a thesis statement.
· The introduction provides some background information but connection to the thesis is not clear. Conclusion: · Conclusion addresses the focus of the paper but the recommendation is not clearly and succinctly communicated.
· Conclusion repeats some of the writer’s main points but does not effectively summarize the paper |
10 to 0 Points Introduction: · The introduction does not identify the chosen location or does not identify the industry or does not indicate the purpose of the paper. · There is no thesis statement with recommendation. · No background information is presented.
Conclusion: · Conclusion does not address the recommendation or focus of the paper. · Conclusion does not summarize the writer’s main points. |
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General Writing, APA Format, Citations and References |
20 to 16 Points Writing is crisp, clear, and succinct. No spelling, grammar, or punctuation errors are made. APA format is used throughout the paper, including in-text citations and a reference page. Supporting information is accurate and complete. NNote: There will be a substantial point deduction if more than 5% of the paper is direct quotes (not including tables, charts, quantitative data, personal interviews, in-text citations, and reference page). |
15 to 11 Points Writing is generally clear with some unnecessary words, run-ons, etc. Writing structure is repetitive or similar to the source without additional interpretation. Few spelling, grammar, or punctuation errors. APA format is generally used throughout the paper. Citations and references are included but may not follow APA format. NNote: There will be a substantial point deduction if more than 5% of the paper is direct quotes (not including tables, charts, quantitative data, personal interviews, in-text citations, and reference page). |
10 to 0 Points Information is too similar to the source without additional interpretation or perspective. Misspelled words, incorrect grammar, and improper punctuation are present. APA format is generally used throughout the paper. Citations do not follow APA format, were missing essential information, or were not included. NNote: There will be a substantial point deduction if more than 5% of the paper is direct quotes (not including tables, charts, quantitative data, personal interviews, in-text citations, and reference page). |
Future Business Potential: Main Categories with Sample Questions
· Market Demand: Nature of the Product or Service
· Is there a need for this product or service in this city? What is the evidence?
· Are there similar products or substitutes available? Is it possible to observe prices of similar products? Does demand appear to be relatively elastic?
· Are there related products or complements that might affect demand for this product?
· Is this a necessity? Luxury? Do consumers appear to be sensitive to price changes?
· If you were to estimate a demand equation, what factors would you include? Do these factors appear to be conducive to high demand?
· Market Demand: Characteristics and Behaviors of Consumers
· Who would be the “demanders”? Households? Individuals? Other businesses? How many of them are there?
· Does the business environment in the city suggest that business will grow from a consumer perspective? What types of businesses exist (Finance, manufacturing, service, cultural)? Are any businesses entrenched there? Are new businesses/industries considering location there?
· Does the social environment support a strong consumer base? Is there entertainment? Medical care? Housing? Restaurants? Shopping?
· Do macroeconomic conditions suggest that the timing is right for consumers to purchase?
· Market Supply: Production
· Are physical resources for production available?
· What labor market skill sets are needed? Are they readily available in this city? Are education and training networks in place?
· Does production of the product or service depend on outside suppliers? On weather? On other uncontrollable risks? How would you minimize the risks?
· Are there potential gains from economies of scale or economies of scope?
· Is city infrastructure suitable for this business? Are transportation networks sufficient (labor transit, product distribution, supply acquisition)?
· Does the business environment in the city suggest that business will grow from a supplier perspective? Are there business-to-business services available?
· Are there government regulations or standards for this business? Is there government support? Are there financial incentives or tax breaks for businesses?
· Market Structure: Choose one of the following:
· Monopoly or Oligopoly: What characteristics suggest that this is a monopoly or an oligopoly? Are there barriers to entry? If so, what are they? Would you be able to overcome them? How would you strategically enter the market given the existence of the other firms?
· Competitive Market: What characteristics suggest that this is a competitive market? Is price the major determinant of demand? Do there appear to be above-normal profits? Do you believe the price is currently high enough to cover costs? (Recall that in a competitive market, you would need to accept the current price.)