\n\n| Comparative Advantage: Opportunity Costs<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Explains how individuals evaluate opportunity costs to make business decisions based on their production-possibility frontier (PPF) and uses graphs to support claims<\/td>\n | Shows progress toward proficiency, but with errors or omissions; area for improvement may include better supporting the claims<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Comparative Advantage: Trade<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Explains how comparative advantage impacts a firm\u2019s decision to trade, including the potential impacts to PPF, using specific reasoning to support claims<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using more specific reasoning to support the claims<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Competitive Markets and Externalities: Supply and Demand<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Describes the impact policy interventions have on the supply and demand equilibrium for a product, using specific examples from the simulation to illustrate the impact<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using specific examples from the simulation to illustrate the impact<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Competitive Markets and Externalities: Price Elasticity<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Analyzes at least three determinants of price elasticity of demand and explains how price elasticity impacts pricing decisions and total revenue<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include identifying at least three determinants of price elasticity of demand<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Competitive Markets and Externalities: Market Interventions<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Makes appropriate claims regarding the impacts of policy market interventions on consumer or producer surplus and defends them using specific reasoning<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using reasoning that\u2019s more specific<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Production, Entry, and Exit: Decision Making<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Analyzes the factors that determine market entry and exit, using economic models to support the claims<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using specific examples from the simulation to help illustrate the analysis<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Production, Entry, and Exit: Marginal Costs<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Applies the concept of marginal costs to explain production decisions, using economic models to support the claims<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using specific reasoning to illustrate the claims<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Production, Entry, and Exit: Fixed Costs<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Evaluates the impact of fixed costs on business decisions in the short run and in the long run using an appropriate economic model<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using an appropriate economic model<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Market Structures: Comparison<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Creates an accurate table describing the main attributes of the four market structures<\/td>\n | Shows progress toward proficiency, but with errors or omissions<\/td>\n | Does not attempt criterion<\/td>\n | 3<\/td>\n<\/tr>\n |
\n| Market Structures: Monopolies and Monopolistic Competition<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Analyzes what market inefficiencies derive from monopolies and monopolistic competition, using specific examples from the textbook to support the claims<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using specific examples to support the claims<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Market Structures: Oligopolistic Markets<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Determines how firms in oligopolistic markets set their prices, using specific examples from the textbook to support the claims<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using specific examples to support the claims<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Market Structures: Profitability<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Explains how firms that compete in the four market structures determine profitability and uses specific examples from the textbook or simulations to support the claims<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include using specific examples to support the claims<\/td>\n | Does not attempt criterion<\/td>\n | 8<\/td>\n<\/tr>\n |
\n| Conclusions<\/th>\n | Exceeds proficiency in an exceptionally clear, insightful, or sophisticated manner<\/td>\n | Draws overall conclusions about the relevance and significance of microeconomics, including recommendations for using these concepts to improve decision making for a business<\/td>\n | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include making appropriate recommendations for using these concepts to improve decision making for a business<\/td>\n | Does not attempt criterion<\/td>\n | 6<\/td>\n<\/tr>\n |
\n| Articulation of Response<\/th>\n | Submission has no errors related to citations, grammar, sentence structure, spelling, or organization and clearly integrates all required charts<\/td>\n | Submission has no major errors related to citations, grammar, sentence structure, spelling, or organization preventing understanding of ideas<\/td>\n | Submission has major errors related to citations, grammar, sentence structure, spelling, or organization preventing understanding of ideas<\/td>\n | Submission has critical errors related to citations, grammar, sentence structure, spelling, or organization preventing understanding of ideas<\/td>\n | 3<\/td>\n<\/tr>\n |
\n| Total:<\/td>\n | 100%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":" ECO 201 Project Guidelines and Rubric Competencies In this project, you will demonstrate your mastery of the following competencies: Inform business decisions using microeconomic models and theories Determine the impact of economic costs on organizational and individual decision making Explain how market structure impacts a business\u2019s entry and exit into a market and its ability […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[710],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/30812"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=30812"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/30812\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=30812"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=30812"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=30812"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=30812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |