UMUC Asia - ECON103 - Economics in the Information Age
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#contents
** Week1 More Utils, Anyone? [#r744b9ed]
- Question
The textbook introduced the concept of "utils." What are...
Give a concrete example from your own life of your desire...
- Answer
Mayer, D.A. (2010) defines utils are the amount of utilit...
In my case, I drive to my office everyday, and it normall...
Although I have never experienced a Thanksgiving dinner, ...
- Reply to Arleen
That's exactly true, Arleen.
Actually, I save approximately 375 hours a year by using ...
Also, since my company allows teleworking up to 32 hours ...
** Week1 Technology and Markets [#y70259f7]
- Question
In Naked Economics, Charles Wheelan gave a number of exam...
- Answer
I agree with the idea that Wheelan, C (2010) says that no...
I often fly to Tokyo with All Nippon Airways. Although I ...
- Comment on Geraldine's Post
I agree. Definitely, Amazon is the most successful online...
They analyze your purchasing trends by using association ...
The major reasons they can sell products at cheaper price...
** Week2 A Decline in Demand [#c9947333]
- Question
Chapter 6 of Everything Economics describes three reasons...
- Answer
According to Mayer D. A. (2010), the reasons of decline i...
An example of diminishing marginal utility I come up with...
An example of substitution effect is MiniDisk or MD playe...
CENTER:References
-- East, T. (2013). Wii sales pass 100 million. Future Pu...
-- Mayer, D. (2010). The Everything Economics Book: From ...
-- Whitehead, T.. (2013). Nintendo Japan Confirms an End ...
** Week2 Perverse Incentives [#cafc9e62]
- Question
In Chapter 2 of Naked Economics, Wheelan describes the pr...
(1) Briefly explain, in your own words, what each of the ...
(2) Provide an example from your own experience to illust...
- Answer
Principal-agent is occurred when the principal provides i...
Prisoner's dilemma is occurred when two suspects are arre...
Tax disincentives are that increasing of tax rate has une...
In my case, excessive overtime working for particular pro...
It seems to be a perverse incentive. Still many of tasks ...
As a result, employee satisfaction failed to increase as ...
CENTER:Reference
-- Wheelan, C. (2010). Naked Economics: Undressing the Di...
** Week3 Microsoft monopoly [#s982b6c9]
- Question
Drawing on Chapter 8 in Everything Economics,
1. When is a monopoly a good thing?
2. What harm can a monopoly cause to consumers and its co...
3. In what ways was Microsoft a good or a bad monopoly?
4. Do you think government action is needed to prevent mo...
- Answer
1. When is a monopoly a good thing?
A monopoly is a good thing when it is a natural monopoly ...
Technological monopoly exists when a company has a patent...
2. What harm can a monopoly cause to consumers and its co...
A monopoly can harm consumers and competitors when it is ...
3. In what ways was Microsoft a good or a bad monopoly?
Microsoft has been bundling applications with OS in partn...
In the early days of the web, Netscape Navigator was soph...
4. Do you think government action is needed to prevent mo...
As in the many parts of the world, I think government sho...
Against rapid growth monopolies in the technology field l...
** Week3 Price Discrimination [#b77ededa]
- Question
What is price discrimination? Give an example of how you...
- Answer
Wheelan, C. (2010) defines price discrimination is the ab...
An example I come up with is mobile carriers' services in...
** Week4 GDP as a measure of well-being [#rdd9f703]
- Question
Both Wheeler and Mayer describe the importance of GDP as ...
Provide 3 specific examples of things that your think are...
- Answer
Three factors that are important to our society I think a...
Avoiding destruction of environment is also essential for...
And the most important factor especially for my society I...
** Week4 GDP growth [#x629beca]
- Question
In Chapter 19, Mayer describes four factors that lead to ...
In order to boost our country's economic growth, develop ...
(THIS NEED NOT BE YOUR ACTUAL POLITICAL/ECONOMIC POINT OF...
- Answer
The four factors Mayer, D. (2010) describes are human cap...
Human capital consists of the education, skills, and abil...
I would propose imposition of stock transaction taxes, go...
First, if the government imposes a tax on stock transacti...
Second, if the government gives grant money for college t...
Finally, the government should invest more in basic resea...
CENTER:Reference
-- Mayer, D. (2010). The Everything Economics Book: From ...
** Week5 The unemployment rate [#pa556e14]
- Question
What is the current unemployment rate?
Mayer (Ch. 11) describes different types of unemployment....
- Answer
Mayer (2012) defines frictional unemployment and structur...
Frictional unemployment happens when people voluntarily e...
Structural unemployment happens caused when job seekers' ...
To be honest, I am not sure in the U.S.. In Japan, it see...
** Week5 Trade and wages [#m3c29c22]
- Question
Give an example of how globalization has affected wages i...
- Answer
In software development industry, offshoring is rapidly a...
** Week5 Exchange rates and the McPPP [#eb25f03b]
- Question
Review a recent Economist report on the Hamburger Index, ...
Choose a foreign country that you have visited - or would...
(A more recent version of this article is available, but ...
- Answer
I chose Japan, which is my country. According to the Bic ...
** Week6 Fed and Monetary Policy [#n1c8c301]
- Question
Monetary policy is the action taken by the Federal Reserv...
After checking the current news on monetary policy, descr...
- Answer
After the Lehman Shock in 2008, the Fed tried to expand t...
Actually, the Federal Open Market Committee anticipated t...
CENTER:References
-- Baum, C. (2013). Consumers Tune Out Fed's Inflation Ta...
-- Board of Governors of the Federal Reserve System. (201...
** Week6 Wall Street - Friend or Foe? [#addf3da5]
- Question
Wall Street's image has taken a beating due to its role i...
- Answer
In the Wall Street area, there are headquarters of major ...
One of the biggest reasons for causing the 2008 financial...
After the crisis, those investment banks were disappeared...
** Week6 Efficient Markets [#j7e7610d]
- Question
In Chapter 7, Wheelan describes the efficient markets the...
- Answer
The efficient markets theory states asset prices already ...
** Week7 Design a Fiscal Policy: Classical or Keynesian? ...
- Question
Fiscal policies are the actions of Congress on spending a...
The effects of the US recession on employment continue to...
Take either the classical or Keynesian point of view on t...
- Answer
Generally, Keynesian point of view cares very little abou...
** Week7 The Role of Government [#k969bfe2]
- Question
In Chapter 3, Wheelan describes a number of ways in which...
- Answer
According to Wheelan, C (2010), a crucial role for govern...
For example, government imposes tariffs on imports to kee...
** Week7 Design a Monetary Policy [#ib4c272e]
- Question
The mandate of the Federal Reserve is to manage the money...
As the advisor the the Federal Reserve Chairman, would yo...
- Answer
Current U.S. unemployment rates for states are openly ava...
Also, you can check U.S. inflation rates from 2003 to 201...
** Week8 Tragedy of the Commons [#ac38502a]
- Question
What is the Tragedy of the Commons? Can you give an examp...
- Answer
According to Mayer, the Tragedy of the Commons refers to ...
** Week8 Sustainability of GDP Growth [#mdcf046f]
- Question
In Chapter 21 of Everything Economics, Meyer asks if GDP ...
- Answer
I think sustainability should be included. One of the mos...
** Week8 Life in 2050 [#pb808b1a]
- Question
Consider the 7 questions that Wheelan poses in the Epilog...
- Answer
In my view, the question "Will we use have strip malls in...
終了行:
#contents
** Week1 More Utils, Anyone? [#r744b9ed]
- Question
The textbook introduced the concept of "utils." What are...
Give a concrete example from your own life of your desire...
- Answer
Mayer, D.A. (2010) defines utils are the amount of utilit...
In my case, I drive to my office everyday, and it normall...
Although I have never experienced a Thanksgiving dinner, ...
- Reply to Arleen
That's exactly true, Arleen.
Actually, I save approximately 375 hours a year by using ...
Also, since my company allows teleworking up to 32 hours ...
** Week1 Technology and Markets [#y70259f7]
- Question
In Naked Economics, Charles Wheelan gave a number of exam...
- Answer
I agree with the idea that Wheelan, C (2010) says that no...
I often fly to Tokyo with All Nippon Airways. Although I ...
- Comment on Geraldine's Post
I agree. Definitely, Amazon is the most successful online...
They analyze your purchasing trends by using association ...
The major reasons they can sell products at cheaper price...
** Week2 A Decline in Demand [#c9947333]
- Question
Chapter 6 of Everything Economics describes three reasons...
- Answer
According to Mayer D. A. (2010), the reasons of decline i...
An example of diminishing marginal utility I come up with...
An example of substitution effect is MiniDisk or MD playe...
CENTER:References
-- East, T. (2013). Wii sales pass 100 million. Future Pu...
-- Mayer, D. (2010). The Everything Economics Book: From ...
-- Whitehead, T.. (2013). Nintendo Japan Confirms an End ...
** Week2 Perverse Incentives [#cafc9e62]
- Question
In Chapter 2 of Naked Economics, Wheelan describes the pr...
(1) Briefly explain, in your own words, what each of the ...
(2) Provide an example from your own experience to illust...
- Answer
Principal-agent is occurred when the principal provides i...
Prisoner's dilemma is occurred when two suspects are arre...
Tax disincentives are that increasing of tax rate has une...
In my case, excessive overtime working for particular pro...
It seems to be a perverse incentive. Still many of tasks ...
As a result, employee satisfaction failed to increase as ...
CENTER:Reference
-- Wheelan, C. (2010). Naked Economics: Undressing the Di...
** Week3 Microsoft monopoly [#s982b6c9]
- Question
Drawing on Chapter 8 in Everything Economics,
1. When is a monopoly a good thing?
2. What harm can a monopoly cause to consumers and its co...
3. In what ways was Microsoft a good or a bad monopoly?
4. Do you think government action is needed to prevent mo...
- Answer
1. When is a monopoly a good thing?
A monopoly is a good thing when it is a natural monopoly ...
Technological monopoly exists when a company has a patent...
2. What harm can a monopoly cause to consumers and its co...
A monopoly can harm consumers and competitors when it is ...
3. In what ways was Microsoft a good or a bad monopoly?
Microsoft has been bundling applications with OS in partn...
In the early days of the web, Netscape Navigator was soph...
4. Do you think government action is needed to prevent mo...
As in the many parts of the world, I think government sho...
Against rapid growth monopolies in the technology field l...
** Week3 Price Discrimination [#b77ededa]
- Question
What is price discrimination? Give an example of how you...
- Answer
Wheelan, C. (2010) defines price discrimination is the ab...
An example I come up with is mobile carriers' services in...
** Week4 GDP as a measure of well-being [#rdd9f703]
- Question
Both Wheeler and Mayer describe the importance of GDP as ...
Provide 3 specific examples of things that your think are...
- Answer
Three factors that are important to our society I think a...
Avoiding destruction of environment is also essential for...
And the most important factor especially for my society I...
** Week4 GDP growth [#x629beca]
- Question
In Chapter 19, Mayer describes four factors that lead to ...
In order to boost our country's economic growth, develop ...
(THIS NEED NOT BE YOUR ACTUAL POLITICAL/ECONOMIC POINT OF...
- Answer
The four factors Mayer, D. (2010) describes are human cap...
Human capital consists of the education, skills, and abil...
I would propose imposition of stock transaction taxes, go...
First, if the government imposes a tax on stock transacti...
Second, if the government gives grant money for college t...
Finally, the government should invest more in basic resea...
CENTER:Reference
-- Mayer, D. (2010). The Everything Economics Book: From ...
** Week5 The unemployment rate [#pa556e14]
- Question
What is the current unemployment rate?
Mayer (Ch. 11) describes different types of unemployment....
- Answer
Mayer (2012) defines frictional unemployment and structur...
Frictional unemployment happens when people voluntarily e...
Structural unemployment happens caused when job seekers' ...
To be honest, I am not sure in the U.S.. In Japan, it see...
** Week5 Trade and wages [#m3c29c22]
- Question
Give an example of how globalization has affected wages i...
- Answer
In software development industry, offshoring is rapidly a...
** Week5 Exchange rates and the McPPP [#eb25f03b]
- Question
Review a recent Economist report on the Hamburger Index, ...
Choose a foreign country that you have visited - or would...
(A more recent version of this article is available, but ...
- Answer
I chose Japan, which is my country. According to the Bic ...
** Week6 Fed and Monetary Policy [#n1c8c301]
- Question
Monetary policy is the action taken by the Federal Reserv...
After checking the current news on monetary policy, descr...
- Answer
After the Lehman Shock in 2008, the Fed tried to expand t...
Actually, the Federal Open Market Committee anticipated t...
CENTER:References
-- Baum, C. (2013). Consumers Tune Out Fed's Inflation Ta...
-- Board of Governors of the Federal Reserve System. (201...
** Week6 Wall Street - Friend or Foe? [#addf3da5]
- Question
Wall Street's image has taken a beating due to its role i...
- Answer
In the Wall Street area, there are headquarters of major ...
One of the biggest reasons for causing the 2008 financial...
After the crisis, those investment banks were disappeared...
** Week6 Efficient Markets [#j7e7610d]
- Question
In Chapter 7, Wheelan describes the efficient markets the...
- Answer
The efficient markets theory states asset prices already ...
** Week7 Design a Fiscal Policy: Classical or Keynesian? ...
- Question
Fiscal policies are the actions of Congress on spending a...
The effects of the US recession on employment continue to...
Take either the classical or Keynesian point of view on t...
- Answer
Generally, Keynesian point of view cares very little abou...
** Week7 The Role of Government [#k969bfe2]
- Question
In Chapter 3, Wheelan describes a number of ways in which...
- Answer
According to Wheelan, C (2010), a crucial role for govern...
For example, government imposes tariffs on imports to kee...
** Week7 Design a Monetary Policy [#ib4c272e]
- Question
The mandate of the Federal Reserve is to manage the money...
As the advisor the the Federal Reserve Chairman, would yo...
- Answer
Current U.S. unemployment rates for states are openly ava...
Also, you can check U.S. inflation rates from 2003 to 201...
** Week8 Tragedy of the Commons [#ac38502a]
- Question
What is the Tragedy of the Commons? Can you give an examp...
- Answer
According to Mayer, the Tragedy of the Commons refers to ...
** Week8 Sustainability of GDP Growth [#mdcf046f]
- Question
In Chapter 21 of Everything Economics, Meyer asks if GDP ...
- Answer
I think sustainability should be included. One of the mos...
** Week8 Life in 2050 [#pb808b1a]
- Question
Consider the 7 questions that Wheelan poses in the Epilog...
- Answer
In my view, the question "Will we use have strip malls in...
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