Microeconomics

MICROECONOMICS

ECO 101-03 Tuesday / Friday 2:00-3:20

RESEARCH REQUIREMENTS

OVERVIEW

The research component of the course counts 25 percent of the course grade and consists of four parts: a proposal (2.5 percent) and three paper components, Part A, B, and C (7.5 percent each). The proposal and written components are due on the dates listed in the Course Schedule. Research components turned in after the last day of clsses in the semester will be given a grade of zero.

The purpose of the research is to give you an opportunity to develop and write about a topics relevant to microeconomics for an occupation you choose, subject to my agreement during the proposal process. Some of the individual topics are descriptive in nature, but others are more analytic and use the material we will cover in the text and in class. Inclusion of graphic, mathematical, or data information in each of Parts A, B, C, as well as text is designed to give you some experience with alternative forms of presentation. Part of the reason for breaking the research project into components is to provide an opportunity for me to comment on earlier components and so you can practice and develop skills in researching and writing about data-based material.

Selecting a very specific occupation, such as computer game designer or one that provides a relatively small number of employment opportunities, such as automobile designer will be more difficult than a more general occupation such as tax accountant, civil engineer or marketing manager for a particular type of good or service. You can undertake these more specific occupations, but part of the reason for the proposal process is for us to figure out whether your choice is feasible, given the time, level of effort, and your other responsibilities during the semester. The focus of the research is on an occupation, not a particular firm which provides that type of employment opportunity.

PROPOSAL

The proposal consists of four written parts:

Identification of the occupation
A description of that occupation including its major activities and the number of persons currently employed in the occupation
An example of a specific firm providing employment for persons in that occupation
A listing of at least three sources from libraries, internet or individuals who are (or have been) employed in that occupation which are likely to be useful in completing Parts A, B, C

Criteria for selecting an occupation can include a potential career choice or a curosity regarding a specific occupation.

Submit a typed proposal in as a Google doc or in .pdf format on the due date specified in the Course Schedule link on this web site to me at gcerf@tcnj.edu. Within a few days, I will review your proposal, make any comments and discuss any that may be problematic. I will respond by e-mail whether occupation is acceptable or specify factors which are relavant to the occupation you selected. The main consideration is my assessment of whether you will have to spend more time and effort to get a grade for the Parts A, B, and C to the time and effort spent by your colleagues to get the same grade for their Parts A, B, and C. I do not want you to have to spend more time and effort than other students to get the same grade for Parts A, B, and C. There is no benefit or detriment for multiple students selecting the same occupation.

RESEARCH COMPONENTS

Cover the topics listed below for parts A, B and C. If after you begin research you wish to change the occupation, let me know as soon as you decide to switch and hand in a proposal for that occupation. The grade for the original proposal will be a component of the course grade. Subit Parts A, B, and C as a Google doc or in .pdf format on the dates specified in the Course Schedule to gcerf@tcnj.edu, If you do not use either of these formats, I will provide a grade, but no comments.

The research porton of the course consists of all the topics listed in A, and three of the four in each of parts B and C below. You must include the topics marked R (required) below, but can select which two of the topics marked O (optional) for each Part A, B, and C. At least one topic in each of parts A, B and C must include a numeric data or graphical presentation component. Topics followed by a (# / G) indicate those topics where numeric data or a graph can be especially useful in supporting the text for that topic although you can use numeric data/graphical presentation for another item in each part if you wish. Items marked (*) are based on information or procedures covered in class and/or included in the text. Inclusion of topics not listed for each of Parts A, B, and C will not increase the grades for the respective parts. Since individual topics relate to material covered during the semester, I encourage you to submitt Parts A, B, and C on their respective due dates rather than prior to their due dates.

Part A (Include all three topics):

[R] How the level of employment and wages have changed over the most recent business cycle (2008 through 2019), the impact of the COVID-19 on the employment level and the projected change in employment levels for the next five to ten years (#/ G)
[R] The extent of price elasticity of demand and income elasticity of demand for the workers in the occupation and their significance for future of the occupaion. (Demand elasticities can be calculated using change in the number of workers in the occupatoin and the change in their wages; income elasticities can be calculated using change in the number of workers and a measure of income in the economy. * (# / G)
[R] The differences by employment level and wages (or compensation) for workers by gender and race

Part B (Include the topic marked [R] and two of the three marked [O]):

[R] Explain which economic model (perfect competition, monopoly, monopolistic competition, oligopoly) is the most reasonable description of how the firms which employ the largest share of workers in the occupation set their prices and quantities of their products. * (# / G)
[O] Estimate of the degree of occupation/industry concentration and how an increase or decrease in number of firms could affect employment opportunities in the future * (# / G)
[O] Describe how the occupation is regulated by various levels of government and the extent to which such regulation is beneficial or harmful in finding and retaining a job in that occupation
[O] Identify and describe the positive and/or negative effects of international trade for the occupation you selected *

Part C (Include the topic marked [R] and two of the three marked [O]):

[R] How has productivity and/or profitability for industries employming large numbers of workers in the the occupation changed over the last business cycle (2008 to 2019) and how has productivity and/or profitability affected employment levels and compensation? * (# / G)
[O] Describe the extent to which the occupation is unionized or is susceptible to unionization and the consequences unionization or lack of it for workers in the occupation *
[O] How much education or training is usual for the occupation and what is the cost of the education or costs to enter the occupation? What length of time to become one of the highest ranking managers or officers in the firms employing workers in that occupation and what levels of compensation are associated with these positions? (# / G)
[O] Are there any positive or negative externalities involved in the occupation? If so how is employment in the occupation likely to be affected? *

GRADING CRITERIA

If the proposal and/or Parts A, B, and C are submitted after their due dates, the late penalty is one letter increment (e. g., the difference between a grade of B+ and C+). If you experience an illness or emergency over which you have no control, contact me and we will figure out how to handle the situation. Failure to submit the proposal and/or parts A, B, and C by last day of class will result in a grade of zero for that component.

Typically, there is only one grade of A+ for a proposal or Part A, B, amd C. It indicates a component which is very skillfully prepared and excels in each of the above criteria. If two (or more) parts A, B or C from different students are substantially identical or contain sections that are substantially identical, the grades for those parts will be reduced by two letter increments.

Proposal

The proposal will be assigned a letter grade based on:

coverage of the topics listed above
clear and concise presentation of the oral and written material in the proposal
spelling, grammar and style appropriate to the proposal

Paper

Each part A, B, and C will be graded A+ through F based on the following criteria:

coverage of the topics listed above for the specific part in a convincing and accurate fashion
clear and concise presentation of the material including relevant numeric data and graphs or mathematical expression
topics developed in an organized and logical paragraphs utilizing effective transitions or topic headings
appropriate use, referencing and sources of information, numeric data and graphical presentations including critical assessment of the information where warranted
conclusions written in your own words which follow from the material presented in the text and are not merely a concatenation of quotations from sources
typed, error free grammar, effective word choice, spelling, appropriate format for text, footnotes and bibliography

Omission or major errors or faults or repetitive minor issues in one or more of the above, result in letter increment (difference between a B and a C) deductions; relatively minor issues result in a grade increment (difference between a B+ and a B). I will return Parts A, B, and C with a grade and specific comments if you submit the Parts as a Google doc or in .pdf format. If you do not submit Parts A, B, or C as a Google doc or in .pdf format, I will provide a grade for the part, but no comments.

REQUIREMENTS AND PROCEDURES

Tables of Numeric Data and Graphs

Each component A, B, and C must include a empirical data, graphical or mathematical presentation which is related to the specific topics included in that part. Tables of numeric and/or graphs can be prepared using Word or Excel (or similar software), but you can also draw graphs by hand or copy them from published sources if you wish. Include tables and graphs which are less than half a page in length after their first reference in the text. Full page graphs and tables can be inserted as the next page after their first reference in the text. Tables of numeric data and graphs should have a source which clearly identifies the publication or other information on which it is based--see Chapter 2 of the text for examples.

The purpose of the numerical data or graph is to allow you to present supporting information for the descriptions and conclusions in parts A, B and C. They allow you to avoid repeating numbers or having to write complicated sentences describing trends which diminishes reader concentration. Also, the numeric data, graphs or mathematical expression can provide a basis for your description or conclusion. Merely including a table of numeric data or a graph with no reference in the text, nor any analysis or commentary leaves the reader to search through the data or to reach his or her own conclusions which is a distraction and diminishes her or his focus on the topic you are writing about.

Footnotes; Bibliography or Works Cited

Regarding footnotes, you should document the source of:

direct quotations, sources of published numeic or graphical data
information, conclusions, data, or other contributions specific to the of persons you contact by mail, e-mail, phone, or in person
unique, different or specific ways of presenting some fact, opinion or conclusion (if the same information is presented by different authors without attribution you need not reference it either)

The footnote reference (an Arabic number) can be author, work, page number at the bottom of the page or at end of the text or incorporated in the text in parentheses. An example of the latter would be (Mankiw 21) if you had just quoted his formulation of the role assumptions in economic analysis.

You do not need to footnote the results of your own original description or analysis or a general description or analysis you encounter in two or more sources that you use as the basis for your research.

Include a bibliography (in any standard format) which identifies each source, including personal conversations or e-mail exchanges for each of Proposal, Parts A, B, and C. You can use either the APA or MLA styles; see https://www.scribbr.com/citing-sources/citation-styles/ for diffeencers and examples examples of footnotes and bibliography entries.

Sources of information

Parts A, B, and C should cover the topic you selected for each part based on your research. In writing about the topics, use your own words rather than trying to find a specific quotation for every point you wish to make. Possible sources include:

published information (books, magazines and similar sources)
web-based sources (both text and data for tables and graphs)
interviews with individuals working in or who have worked in the industry or occupation (industry, occupation and firm specific data)

Friends, family members and representatives of firms participating in TCNJ Career Days or who participate in various on-campus recruiting activities are possible sources. When you contact them, explain it is for a class project, but also that you may be interested in a career in that industry or occupation if that is the case. If they ask, give them my name and contact information-e-mail address, phone number. Check the Career Services web site for the list of firms and representatives who plan to participate. (In some cases, representatives are recent TCNJ or college graduates and are glad for the opportunity to interact for a few minutes about the organization they are representing and what they do.) Many representatives may list an e-mail address or you can get one from other Career Services listings, for example the On-Campus recruiting listings and/or web sites. Also, other professors and I, know of former students or others who are generally willing to respond to questions about their industry or occupation.

The web site of the U. S. Bureau of Labor Statistics, https://bls.gov is especially useful as it is the preferred source as the data are the primary source for employment data and are prepared using consistent definitions and procedures. Specific information on the various toipics can usually be most easily located by entering serach terms in the search box on the upper right of the first page of the web site. You can use multiple terms such as occupation, year, gender, race in combination to access the specific information. Also, there are articles which cna provide insight into factors responsible for trends and patterns in the information. In addition, other web-based sources can be useful for other topics in Parts A, B, C.

The TCNJ library subscribes to numerous data bases which can be helpful. The list is at:

https://library.tcnj.edu/search-tools/databases-a-z/

You mcan also contact the Business and Economics librarian, Terrence Bennett at tbennett@tcnj,edu.

If you encounter difficulties with data availability or other aspects of the research process, I encourage you to let me know. There are usually some relatively straightforward things that can be done.

Editing and Review

Editing what you have written is typically as important as writing the initial draft, so leave time for a review and changes before you turn in the paper. Exchanging drafts with a classmate is a way to identify sections that need attention or improvement. The Tutoring Center Roscoe West Hall, Suite 101; https://tutoringcenter.tcnj.edu/humanities/single-session-writing-conferences/ also can provide assistance in researching, writing and editing research components. Also, the see the chool of Business Writing Policy: http://tutoringcenterpages.tcnj.edu/humanities/writers-place/

I am willing to review and make specific comments on a draft of individual parts. Give me the draft no later than a week before the due date for that part. I will make specific comments and suggestions, but not assign a grade.

January 7, 2021

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