Managers in organizations are continually required to evaluate the impact of variables in the internal and external economic environment that will affect their organization’s performance. In today’s global environment, marketing and trade practices require analysis of basic economic functions that extend to international business operations, including pricing strategies, currency fluctuations, technology, open and closed economies, and differing monetary policies. In this project, you will have an opportunity to synthesize these many variables on the performance and profitability of a chosen organization.
Upon completion of this assignment, you should be able to:
• Identify the major measures of macroeconomic activity.
• Apply the aggregate expenditure model in business decision making.
• Explain the relationship between aggregate demand and aggregate supply.
• Evaluate how shifts in aggregate supply and demand curves affect business decisions.
• Explain the importance of monetary policy, fiscal policy, and interest rates on business decision making.
Resources
• File: Project Description
Background Information
You have been working as an economic consultant, and you have seen a significant number of firms needing outside help to assist in business policy and formulation. Because of your strong reputation, you have just been hired as a consultant for one of the following organizations:
• Apple
• Toyota
• McDonald’s
• Starbucks
• United Parcel Service
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