These are some guidelines and recommendations for developing your final project assignment.
You have been hired as a consultant to make economic recommendations for a public firm (or
private firm if data is available) of your choice. The goal of every business is Profit Maximization
and you are giving them economic advice to achieve their goal.
Conduct thorough research on different economic aspects of this firm using outside sources.
Complete an economic analysis for the firm based on at least five (5) of the key weekly topics (see attached file) or concepts discussed during this class. The topics can be demand, supply, price, profit, competition etc. Make a recommendation to the firm for the improvement of its current performance and future sustainability based on your research and enhanced economic
knowledge achieved through this class.
Below is a general outline for you to use in your paper. This is a guideline; you can use your creativity and talents and make necessary changes.
1. Pick your company (Introduction)
2. If your company produces several products you can chose one product. (For example if you are picking Apple, you can chose just one key product like iPhone or iPad) for the simplicity of analysis. Give a brief description and why you chose that product (market share, profitability, future prospect etc.)
3. Research current demand, supply and equilibrium price of that product and develop demand and supply chart.
4. Based on the research, the concepts we learned, and in your own intuition, analyze factors that can influence the change in the demand and supply of this product. (Show the graphs)
5. Based on the elasticity concept analyze whether a price change is desirable for profit maximization. (Use hypothetical numbers for analytical purposes)
6. Find the profit maximization price and quantity
7. Write your conclusion, summarizing the main analysis and recommendation.
The paper should be a minimum word count at least 1800, excluding cover page and reference page.
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