This is a graduate-level term paper. The textbook is Thomas, C. and Maurice, S. (2016). Managerial Economics. 12th edition.
In May 2016, Falcons announced they would reduce their concession prices to “market” prices in the hope to increase the fan experience. They projected reducing prices by 50% with demand increasing by 25%. Results: sales increased by 53%. They now sell more before the game and through the first quarter than they sold the entire game in seasons prior.
Notes for Term Projects in Managerial Economics
Always Preview carefully submitting Term Projects
Here are some final comments-suggestions before you start the final phase of your project submission.
1. Remember to use strict APA format, including an abstract, title page, page numbers, headings, conclusion, and proper references.
2. Follow the guidelines for creating your PowerPoint slides and use the examples provided in Blackboard to avoid: small fonts, crowded slides, improper graphics (see # 3 below) and too much background data.
3. Graphics should be with appropriate scale, clearly legible in the paper and in a PowerPoint, and should always use zero as the arch and this means a chart of stock prices doesnt start at 50 and show the stock doubling from 50 to 100.
4. You choose the proposed topic, post it in Blackboard in the Discussion tab, and engage my comments about the suitability. Other threads for other student papers are open for your review also.
5. You may choose from a wide variety of topics, including mini cases from the text, as long as the analysis is based on models in our text. If you use text cases, make sure your analysis goes further, extends the scope or time period or other analysis you may NOT just write about the text case.
6. Use the primary tools from the text: supply & demand, elasticity, marginal costs,
MR=MC, short-run vs. long-run equilibrium, industry types, pricing models, etc.
Remember that many of the models you might choose to use will require a comparison with other firms or industries.
7. See the various comments in other guidelines about being very specific: again, realize that most projects will require comparing firms, or industries, or time periods, or different outcomes from pricing strategies.
8. This is a project of economic analysis using models from the text, not a descriptive term paper or re-telling of a story of text case.
9. Some basic types of projects would include analysis of (1) pricing tools, (2) types of costs (fixed vs. variable, short-run vs. long run), (3) oligopoly strategies, (4) industry exit and barriers to entry, (5) marginal cost, and profit maximization examples.
10. Examples: Oligopoly Pricing Strategies for GM 1920 1040 or Pricing Strategies for Cell Phone Service Providers in 2016.
