This document outlines the coursework for ECO 365 Principles of Microeconomics. It includes assignments on economic definitions, supply and demand simulations/videos, a competitive market analysis, and differentiating between market structures. The assignments require analyzing concepts like price elasticity, factors that affect supply and demand, market conditions, and competitive strategies under different structures like monopoly, oligopoly, and perfect competition. Students must consider how changes in the market could impact answers, like new entrants or mergers, and make recommendations.

1. ECO/365
PRINCIPLES OF MICROECONOMICS
The Latest Version A+ Study Guide
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ECO 365 Entire Course Link
https://uopcourses.com/category/eco-365/
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ECO 365 Week 1 Economic Definitions Worksheet
Complete the Economics Definitions Worksheet.
Click the Assignment Files tab to submit your assignment.
Economics - Definitions
Complete the following. Include your references using APA formatting.
Write the definition for each of the following:
1. Law of Demand
2. Law of Supply
3. Price Elasticity of Demand
4. Macroeconomics
5. Microeconomics

2. Identify 2 Products whose demand is price elastic.
Which of the following graphs best demonstrates the law of demand?
a) I
b) II
c) III
d) IV
Which of the following graphs best demonstrates the law of supply?
a) I
b) II
c) III
d) IV
References

3. ECO 365 Week 1 Challenging Concepts
Recall the readings and activities you have completed this week and describe the one or two points
that were least clear to you. What questions do you have that would help you understand these
points better?
ECO 365 Week 2 Microeconomics and the Laws of Supply and
Demand
Complete one of the following options:
Option 1:
Complete the Supply and Demand Simulation.
Write a 1,050- to 1,400-word paper summarizing the content of the simulation and
address the following:
 Identify two microeconomics and two macroeconomics principles or concepts
from the simulation/video.
 Explain why you have categorized these selected principles or concepts as
microeconomics or macroeconomics.
 Identify at least one shift of the supply curve and one shift of the demand curve in
the simulation/video.
 Explain what causes the shifts, and how each shift affects the price, quantity, and
decision making.
Include responses to the following:
 How might you apply what you learned about supply and demand from the
simulation/video to your workplace or your understanding of a real-world product
with which you are familiar?
 How do the concepts of microeconomics help you understand the factors that
affect shifts in supply and demand on equilibrium price and quantity?
 How do the concepts of macroeconomics help you understand the factors that
affect shifts in supply and demand on the equilibrium price and quantity?
 How does the price elasticity of demand affect a consumer's purchasing and the
firm's pricing strategy as it relates to the simulation/video?
Cite a minimum of 3 peer reviewed sources.

4. Click the Assignment Files tab to submit your assignment.
Option 2:
Watch the Khan Academy Video "Changes in Market Equilibrium" located in the Week 1
Khan Academy Videos.
Write a 1,050- to 1,400-word paper summarizing the content of the simulation and
address the following:
 Identify two microeconomics and two macroeconomics principles or concepts
from the simulation/video.
 Explain why you have categorized these selected principles or concepts as
microeconomics or macroeconomics.
 Identify at least one shift of the supply curve and one shift of the demand curve in
the simulation/video.
 Explain what causes the shifts, and how each shift affects the price, quantity, and
decision making.
Include responses to the following:
 How might you apply what you learned about supply and demand from the
simulation/video to your workplace or your understanding of a real-world product
with which you are familiar?
 How do the concepts of microeconomics help you understand the factors that
affect shifts in supply and demand on equilibrium price and quantity?
 How do the concepts of macroeconomics help you understand the factors that
affect shifts in supply and demand on the equilibrium price and quantity?
 How does the price elasticity of demand affect a consumer's purchasing and the
firm's pricing strategy as it relates to the simulation/video?
Cite a minimum of 3 peer reviewed sources.
Click the Assignment Files tab to submit your assignment.
ECO 365 Week 2 Challenging Concepts
 Recall the readings and activities you have completed this week and describe the
one or two points that were least clear to you. What questions do you have that
would help you understand these points better?

5. ECO 365 Week 3 Current Market Conditions Competitive Analysis
Imagine you are part of a strategic planning group at a large corporation that is
considering the development of a new product. The marketing director has asked you to
do a competitive market analysis to determine the product's potential success. The
analysis will focus on your primary competitor in the product's market.
Select a product and a competitor that produces the same or similar product.
Write a 1,400- to 1,750-word paper analyzing current market conditions addressing all of
the following topics:
 Describe the product and give a short history of the competitor that produces it
 Define the market for your chosen product, including an analysis of its competitors,
and customers.
 List the factors that affect demand, supply, and prices in the market in which the
competitor operates
 Predict the price and income elasticity of demand for the product (either through a
web search or by using theory to predict the coefficients)
 List the factors affecting fixed and variable costs, including the protential for
economies of scale and the marginal productivity of labor.
Make recommendations on how your organization can maximize their profit-making
potential and successfully compete in the new market. Consider the effect your
recommendations may have on marginal revenues and costs.
Use a minimum of 3 peer reviewed sources.
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment and Share your paper with
members of your team.
ECO 365 Week 3 Share Current Market Conditions Competitive
Analysis
Share your Current Market Conditions Competitive Analysis paper with members of your
team.

6. Recall the readings and activities you have completed this week and describe the one or
two points that were least clear to you. What questions do you have that would help you
understand these points better?
ECO 365 Week 4 Differentiating Between Market Structures
You will apply important microeconomics concepts toward the competitive strategies of an
organization that operates in the market in which the product you wrote about in Week 3 is
sold. You will evaluate the differences between market structures and identify competitive
strategies consistent with the market structure that best aligns with the market in which
your product is sold. You will assess how market structure positively and negatively
affects your ability to earn an economic profit over time and evaluate the effectiveness of
the organization's competitive strategies.
Select a product from the products each of you wrote about in Week 3.
Identify the market structure in which this product is sold. Using the definitions in your
readings, clearly indicate why you chose that particular market structure. Be sure to
explain why you did not select three of the four following market structures:
 Oligopoly
 Perfect competition
 Monopoly
 Monopolistic competition
Identify three or more competitive strategies that you can use to maximize your profits
over the long run. Evaluate the effectiveness of these strategies in the market structure
you identified. Consider the following:
 Expected changes in supply and demand
 Price elasticity of demand
 Market structure
 Government regulations
Make recommendations related to the strategies you might consider to maximize your
profits and consider the following:
 What are the ethical implications of these strategies?
 Does this strategy align with your own values?
Cite a minimum of 3 peer reviewed sources.

7. Write a 1,400- to 1,750-word paper.
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
ECO 365 Week 5 Current Market Conditions Competitive Analysis -
Differentiating Between Market Structures
Create a 12- to 16-slide PowerPoint® presentation in which your team answers all of the
questions asked in Week 3 and Week 4. Additionally, your team will consider how any or
all of the following may impact your initial answers:
 Whether it is possible that new foreign or domestic companies will enter the
market or that mergers will narrow the market and how that will affect market
structure, price elasticity of demand, pricing, and the sustainability of profits
 Whether current and expected government policies and regulations, including
taxes and regulations are possible in the future
Recommend how you may deal with each of the previous points.
Cite a minimum of 3 peer reviewed sources.
Click the Assignment Files tab to submit your assignment.