ECOCB/535 Competency 1 Assessment Title: Impact of Economic Events and Economic Concentration

• I have attached my report for editing including the professor’s expectations under attached files.
  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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