Module 5 Discussion
Forum Instructions
In a post below, respond to the following prompt, which assesses the following outcomes:
Course SLO 1: Identify the basic economic principles that serve as the foundation of economic analysis
Course SLO 2: Understand the interaction of supply and demand in determining prices and the role of prices in coordinating economic activity
Course SLO 4: Explain how externalities affect the efficiency of markets, and what can be done to improve the efficiency of markets in which externalities exist
Course SLO 4: Discuss the basic theories behind consumer and producer behavior
Module SLO: 5.4.3 – Apply concepts of price elasticity to real-world situations
Then, you must respond to 2 of your classmates' posts. After you post a response, you will be able to see other responses. You are not required to post more than required, but feel free to respond to other posts and engage with your classmates.
Your [first] post is due on [day of week] by [time] CST. Your response to another student is due on
[day of week] by [time] CST. [Adjust for number of posts required.]
Your response should be at least [length requirement in words, sentences, or paragraphs] long. This includes responses to other students' posts. [Include previous sentence if necessary.] A simple “I agree” or “Yes” or “LOL” will not count. Please think about the questions and your peers' responses and reply thoughtfully and courteously, according to netiquette rules. Use good English grammar, correct punctuation, and complete sentences. While the posts will mostly be judged by their thoughtfulness and completeness, I reserve the right to take off points for grammatical errors, especially if they interfere with the clarity of the post. [Edit as needed.]
Prompt
Sometimes, conditions of a market can be sensitive to a very specific good. For example, price elasticity of demand for conventional electricity is relatively inelastic, while price elasticity of demand for solar panels is relatively elastic. Both goods perform the same task, yet one is much more elastic than the other. For this discussion, your task is to:
- Come up with a pair of goods that, like electricity and solar panels, perform very similar tasks, yet have different stories to be told when it comes to elasticity.
- Explain why your goods will experience such a difference in elasticity.
- Reply to two of your peers’ posts.
Details:
A forum for
discussion promotes peer-to-peer and student-instructor
interaction. Questions should be thought provoking and encourage detailed analysis of module topics. Include a rubric.
If
you do not want students to see other responses before they post, set
type to "Q and A forum." For this type, you must create a post first for students to
respond.
Subscription: Set to Auto.
Due dates: You cannot set due dates for forums, so be sure
to tell students when to post above. These dates will not appear on the Moodle calendar.
Ratings: will place the forum in the gradebook. You can set a maximum grade. Restricting ratings to a date range only affects when you can grade, and not when the activity is available to students.
Activity completion: You can select completion criteria and an expected completed date.