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- ECOCB/535 Competency 1 Assessment and Rubric
Course Title: The Digital Economy
Competency Assessment Title: Impact of Economic Events and Economic Concentration
- Assignment Directions
To complete this assessment, you will create a two-part report. In Part 1, you will analyze how two major economic events influenced supply, demand, and economic equilibrium in the U.S. In Part 2, you will evaluate economists’ assessments of the role the four factors of production played in determining how the economic concentration you selected has evolved.
Imagine that you are a business consultant tasked with sharing the concepts below with a team of interns who will be supporting the research aspects tied to a new initiative requiring knowledge about economic influence and economic concentration. The use of charts and tables to illustrate data is highly encouraged to help the interns connect the dots.
Create a report incorporating the following:
Part 1: Economic Events & Activity Analysis
Review the Competency 1 Resources: Economic Fundamentals.
Write a 500- to 750-word analysis (Part 1 of your report) assessing how 2 of the following major economic events influenced supply, demand, and economic equilibrium in U.S. economic activity:
• Rapid price increases, such as those caused by the 1973 oil embargo or the aftermath of a major hurricane
• Dramatic employment drops, such as the combined impact of the 2006 housing bubble burst and the subsequent Great Recession
• Crippling interest rates imposed by the Federal Reserve, such as those during the 1975–1985 time period
• Collapse of the Soviet Union in 1991 and the end of the Cold War and the “peace dividend”
• The dot-com bubble from 1994 to 2000 and the subsequent dot-com crash
Part 2: Economic Concentration Evaluation
Review the Competency 1 Resources: Factors of Production & Economic Concentration. Select 1 of the economic concentrations (clusters) below:
• Seattle-Tacoma-Olympia, WA industry-
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ECOCB/535 Competency 1 Rubric Page 2 of 4
• Central California winemaking industry
• Hollywood movie industry
• Silicon Valley Technology hub
• Texas / Louisiana Gulf Coast crude oil and natural gas production and refining
• Pre-1994 vs. Post-1994 US auto and light truck production and the reasons for the change in economic concentration
Write a 700- to 1,050-word evaluation (Part 2 of your report) of economists’ assessments of the four factors of production in determining how the economic concentration you selected has evolved. Complete the following in your evaluation:
• Analyze how the economic concentration in the area you chose was influenced by competition and pricing.
• Analyze how the economic concentration in the area you chose influenced the supply chain.
• Analyze which of the four factors of production were the most and least important in determining the economic concentration of the area you chose.
• Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.
Consider the resources provided and other academically appropriate sources.
Compile Parts 1 and 2 into one report.
Cite at least two academically credible sources for each part. The use of charts and tables to illustrate data is highly encouraged. Submit your report.-
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Competency Assessment Rubric
ECOCB/535 Competency 1 Rubric Page 3 of 4
Assignment/Performance
Criteria
Mastery
100%
Meets Expectations
85%
Not Met
0%
1. Part 1 – Major Event 1: Supply, Demand, and Economic Equilibrium
(weight 25%)
Thoroughly analyzed the first selected major economic event that influenced supply, demand, and economic equilibrium in US economic activity.
Partially analyzed how major economic events influenced supply, demand, and economic equilibrium in US economic activity.
Narrowly analyzed how the first selected major economic event influenced supply, demand, and economic equilibrium in US economic activity or no attempt to analyze how the first selected major economic event influenced supply, demand, and economic equilibrium in US economic activity.
2. Part 1 – Major Event 2: Supply, Demand, and Economic Equilibrium
(weight 25%)
Thoroughly analyzed how the second selected major economic event influenced supply, demand, and economic equilibrium in
US economic activity.
Partially analyzed how the second selected major economic event influenced supply, demand, and economic equilibrium in US economic activity.
Narrowly analyzed how the second selected major economic event influenced supply, demand
and economic equilibrium in US economic activity or no attempt to analyze how the second selected major economic event influenced supply, demand, and economic equilibrium in US economic activity.
3. Part 2 – Economic Concentration: Influenced by Competition and Pricing
(weight 15%)
Thoroughly analyzed how the selected economic concentration was influenced by competition and pricing.
Partially analyzed how the selected economic concentration was influenced by competition and pricing.
Narrowly analyzed how the selected economic concentration was influenced by competition and pricing or no attempt to analyze how the selected economic concentration was influenced by competition and pricing was made.
4. Part 2 – Economic Concentration: Influenced by Supply Chain
(weight 15%)
Thoroughly analyzed how the selected economic concentration influenced the supply chain.
Partially analyzed how the selected economic concentration influenced the supply chain.
Narrowly analyzed how the selected economic concentration influenced the supply chain, or no attempt to analyze how the selected economic concentration influenced the supply chain was made.-
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ECOCB/535 Competency 1 Rubric Page 4 of 4
Assignment/Performance Criteria
Mastery 100%
Meets Expectations 85%
Not Met 0%
5. Part 2 – 4 Factors (weight 10%)
Thoroughly analyzed which of the four factors of production were the most and least important in determining the economic concentration and the relationship between the factors of production and economic concentration.
Partially analyzed which of the four factors of production were the most and least important in determining the economic concentration and the relationship between the factors of production and economic concentration.
Narrowly analyzed which of the four factors of production were the most and least important in determining the economic concentration and the relationship between the factors of production and economic concentration or no attempt to analyze which of the four factors of production were the most and least important in determining the economic concentration of the location chosen was made.
6. Part 2 – Predicted Changes
(weight 10%)
Thoroughly evaluated the area of economic concentration to predict anticipated changes.
Partially evaluated the area of economic concentration to predict anticipated changes.
Narrowly evaluated the area of economic concentration to predict anticipated changes or no attempt to evaluate the area of economic concentration to predict anticipated changes was made.-
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