The Economics of Labor Markets Grading Guide ECO/365 Version 9 1 Learning Team Assignment: The Economics of Labor Markets Purpose of Assignment Week 3 requires the student to analyze the markets for the factors of production—labor, land, and capital—using the concept of derived demand. Students will use the marginal productivity of labor to explain why there is a wide variation in wages in the real world and what determines the supply and demand for various types of labor. Students will address income distribution, policies used by government to alter income distribution, and the impact these policies have on labor supply and demand. Grading Guide Content Met Partially Met Not Met Comments: Students select an organization their team is familiar with or an organization where a team member works. Students explain how their organization’s production function is related to its marginal product of labor. Students explain how their organization’s marginal product of labor is related to the value of its marginal product. Students explain how their organization’s marginal product is related to its demand for labor. Students provide examples of events that could shift the demand or supply of labor and explain why they do so. Students explain reasons a worker’s wages might be above the level that balance supply and demand. Students provide an analysis of the impact government policies addressing income inequity and poverty could have on labor demand or supply. Presentation consists of 15 to 20 slides and is appropriate for the audience. The presentation includes relevant media and visual aids that are consistent with the content. Total Available Total Earned 11 #/X Presentation Guidelines Met Partially Met Not Met Comments: The presentation is laid out with effective use of headings, font styles, font sizes, and white space. Intellectual property is recognized with in-text citations and a reference slide. The presentation includes an introduction and conclusion that preview and review major points. Major points are stated clearly; are supported by specific details, examples, or analysis; and are organized logically. Rules of grammar and usage are followed including spelling and punctuation. Total Available Total Earned 4 #/X Assignment Total # 15 #/X Additional comments: Copyright © 2016 by University of Phoenix. All rights reserved. ...

1. The Economics of Labor Markets Grading Guide
ECO/365 Version 9
1
Learning Team Assignment: The Economics of Labor Markets
Purpose of Assignment
Week 3 requires the student to analyze the markets for the
factors of production—labor, land, and capital—using the
concept of derived demand. Students will use the marginal
productivity of labor to explain why there is a wide variation in
wages in the real world and what determines the supply and
demand for various types of labor. Students will address
income distribution, policies used by government to alter
income distribution, and the impact these policies have on labor
supply and demand.
Grading Guide
Content
Met
Partially Met
Not Met
Comments:
Students select an organization their team is familiar with or an
organization where a team member works.
Students explain how their organization’s production function is
related to its marginal product of labor.

2. Students explain how their organization’s marginal product of
labor is related to the value of its marginal product.
Students explain how their organization’s marginal product is
related to its demand for labor.
Students provide examples of events that could shift the demand
or supply of labor and explain why they do so.
Students explain reasons a worker’s wages might be above the
level that balance supply and demand.
Students provide an analysis of the impact government policies
addressing income inequity and poverty could have on labor
demand or supply.
Presentation consists of 15 to 20 slides and is appropriate for

3. the audience.
The presentation includes relevant media and visual aids that
are consistent with the content.
Total Available
Total Earned
11
#/X
Presentation Guidelines
Met
Partially Met
Not Met
Comments:
The presentation is laid out with effective use of headings, font
styles, font sizes, and white space.

4. Intellectual property is recognized with in-text citations and a
reference slide.
The presentation includes an introduction and conclusion that
preview and review major points.
Major points are stated clearly; are supported by specific
details, examples, or analysis; and are organized logically.
Rules of grammar and usage are followed including spelling and
punctuation.
Total Available
Total Earned
4
#/X
Assignment Total
#

5. 15
#/X
Additional comments:
Copyright © 2016 by University of Phoenix. All rights reserved.