CO561 Phoenix Wk 1 Decision Making in Purchasing a Personal Computer Paper Good morning, Attached is the Assignment, Requirements and Chapters for Week 1 o

CO561 Phoenix Wk 1 Decision Making in Purchasing a Personal Computer Paper Good morning, Attached is the Assignment, Requirements and Chapters for Week 1 of my Eco/561 class. There are 6 Chapters for this week, but the instructor only wants us to read a few sheets in each chapter and I included the pages within the Assignment and Requirements. Thank you ECO/561 WEEK 1 INDIVIDUAL ASSIGNMENT AND REQUIREMENTS
Academic Resources
• Student Supplemental Textbook Materials
Instructions:
McConnell, C.R., Brue, S.L., & Flynn, S.M. (2015) Economics: Principles, problems, and policies (20th
ed). Boston, MA: McGraw-Hill/Irwin.
Required Learning Activities
(HERE ARE THE CHAPTERS AND THE PAGES THAT YOU WILL NEED TO COMPLETE
THE ASSIGNMENT)
• Economics, Ch. 1: Limits, Alternatives, and Choices Read pages 5-12 and 15-23 of Economics.
• Economics, Ch. 2: The Market System and Circular Flow Read pages 43-45 of Economics.
• Economics, Ch. 3: Demand, Supply, and Market Equilibrium Read pages 53-67 of Economics.
• Economics, Ch. 7: Utility Maximization Read pages 153-159 of Economics.
• Economics, Ch. 18: Public Finance: Expenditures and Taxes Read page 406 of Economics.
• Economics, Ch. 24: An Introduction to Macroeconomics Read page 532-533 of Economics.
HERE IS THE ASSIGNMENT BELOW:
Influence of Economics on Household Decision Making
Instructions:
Purpose of Assignment
To locate, retrieve, and evaluate the effects of macroeconomic indicators on your own decision making.
Assignment Steps
Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website.
There are also additional tutorials via the web offering support for Office products.
Scenario: Consider your last big purchase such as a car, appliances, home repairs, home purchase,
computer equipment, college tuition, or another “big-ticket” item, which are often purchased using
loans/financing (by borrowing money). Also, consider your decision-making process that led you to
choose a particular make, model, or brand of the product (or service) you purchased and whether it was
the right time to make the purchase given economic conditions at the time of your purchase. While
analyzing your decision, keep in mind everything from interest rates to the prices of complementary and
substitute goods are driven by human economic behavior.
Develop a minimum 1,050-word analysis of your decision-making process in which you include the
following:
• Retrieve statistics on Real Gross Domestic Product (GDP) and on Real Personal Consumption
Expenditures (PCE) by year for the last ten years. You can retrieve those statistics from internet sources
including, but not limited to, the Federal Reserve of St. Louis’s FRED web site, the U.S. Department of
Commerce’s Bureau of Economic Analysis (BEA) web site, or another credible source of your choice. Post
these statistics in a single worksheet of an Excel® workbook and submit your Excel® file with your report.
In your report, discuss the latest 10-year trends in both GDP and PCE. Also, discuss how the trends in
GDP compare with trends in PCE. You are encouraged to include graphs of these statistics in your report;
you could create the graphs in Excel® and copy them into your report.
• Retrieve statistics on the Effective Federal Funds Rate and on the Consumer Price Index: All Items Less
Food and Energy by year for the last 30 years. You can retrieve those statistics from internet sources
including, but not limited to, the Federal Reserve of St. Louis’s FRED web site, the U.S. Department of
Labor’s Bureau of Labor Statistics (BLS) web site, or other credible sources of your choice. Post these
statistics in a single worksheet of an Excel® workbook and submit your Excel® file with your report. In
your report, discuss how the trends in the Effective Federal Funds Rate compare with trends in inflation.
If you took out a loan to pay for your “big-ticket” purchase, what was the interest rate on your loan?
Were interest rates rising or falling at that time? Were interest rates relatively high or low at that time?
You are also encouraged to include graphs of these statistics in your report.
• Discuss the influence of any Federal government or state government programs, such as tax credits or
tax deductions for energy saving/efficiency purchases, on your decision to make your last big purchase;
or if government incentives did not factor into your decision, explain why not.
• Develop conclusions about the economy’s influence on personal and business decision-making relative
to purchases of big-ticket items, investments, or other major purchases.
Cite a minimum of three peer-reviewed sources. Note: The Federal Reserve of St. Louis, the Bureau of
Economic Analysis, and the Bureau of Labor Statistics can be cited to fulfill this requirement.
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment. Be sure you submit your paper as well as the
two required Excel® files.
Supporting Material: Influence of Economics on Household Decision Making Grading Guide

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