You have been asked to assist your organizations marketing department to better understand how consumers make economic decisions. Write a 1,050-word analysis that includes the following:The impact the theory of consumer choice has on: Demand curvesHigher wagesHigher interest ratesThe role asymmetric information has in many economic transactionsThe Condorcet Paradox and Arrows Impossibility Theorem in the political economyPeople not being rational in behavior economicsCite a minimum of 3 peer-reviewed sources not including your textbook.Format consistent with APA guidelines.Theory of Consumer Choice and Frontiers of Microeconomics Grading Guide
ECO/365 Version 9
Individual Assignment: Theory of Consumer Choice and Frontiers of Microeconomics
Purpose of Assignment
Week 5 exposes students to subjects that are intended to whet their appetites for further study in economics.
Students will use the theory of consumer choice and the impact of the concepts of asymmetric information, political
economy, and behavior economics, to describe how consumers make economic decisions.
Grading Guide
Met
Content
Partially
Met
Not Met
Total
Available
Total
Earned
13
#/X
Partially
Met
Not Met
Total
Available
Total
Earned
5
#/X
Comments:
Student’s analysis includes the impact the
theory of consumer choice has on:
a. Demand curves
b. Higher wages
c. Higher interest rates
Student’s analysis includes the role
asymmetric information has in many
economic transactions.
Student’s analysis includes the Condorcet
Paradox and Arrow’s Impossibility Theorem in
the political economy.
Student includes analysis about people not
being rational in behavior economics.
The paper is 1,050 words in length.
Met
Writing Guidelines
The paper—including tables and graphs,
headings, title page, and reference page—is
consistent with APA formatting guidelines and
meets course-level requirements.
Intellectual property is recognized with in-text
citations and a reference page.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed
including spelling and punctuation.
Copyright © 2016 by University of Phoenix. All rights reserved.
Comments:
1
Theory of Consumer Choice and Frontiers of Microeconomics Grading Guide
ECO/365 Version 9
Assignment Total
#
18
#/X
Additional comments:
Copyright © 2016 by University of Phoenix. All rights reserved.
2

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