Business Question

Econ 610,This project (paper and presentation) accounts 20% of your final grade. Each group will pick a
topic of interest that preferably related to the chapters that we are covering during this course, it
can be related to economics or managements.
Important dates:
Names of all group’s members , by 5-2-2024
Topic of interest for each group , 10-2-2024
Presentations(20 minutes), 9-5-2024
(can be changed if needed0
Submit your research in electronic and hard copy by 25-4-2024 (Fifth week)
Page should be A4, (Normal). Text should be ‘Times Roman’ and font size 12. Use APA citation
style.
Project Guidelines
Purpose ( approximately 1 page)
The purpose of the term project is to analyze, estimate or forecast the demand of a good, as well
as the estimation of a production cost function. The steps involved in the analysis and estimation
of demand or cost functions include the analysis of optimal decisions based on the parameters of
the functions. The purpose of the term project must clearly identify the potential (or
hypothetical) uses of the results. Structure of the term project. The analysis will be presented as a
written report including the following sections:
1. Introduction and definition of the problem (1 – 2 pages)
This section addresses the following topics: a) why is this analysis important and why should
we care about it? Why is this a topic of importance for managerial decisions? What is the
underlying economic problem (e.g., is it about allocating resources, understanding consumer
or firm’s behavior, estimating demand or cost functions)?
2. Characteristics of the market or sector (1 – 2 pages)
This section describes the market or the sector where the analysis is conducted. This
description must include the identification of the economic sector; for instance, whether the
study is about markets in agriculture, industry or services. This section also explains whether
the analysis refers to a specific market (i.e., defined by location, type of product, etc.), or a
whole industry or national market.
3. Theoretical approach for the analysis (1 – 2 pages)
This section explains the concepts and theories that guide your analysis. If the project is
about estimating a demand function, for instance, here you explain the variables that you
anticipate will have an effect on quantity demanded of the product of your choice. You also
introduce here your hypothesis (e.g., in the case of demand, we expect that the relationship
between quantity demanded and price of the good follows the law of demand, or if the good
under analysis is a normal good we expect to see a positive effect of income on quantity
demanded).
4. Description of the data (2 – 3 pages)
You introduce the nature of the data (e.g., cross-section or time-series), the variables
included, as well as the characteristics of the variables defined in terms of descriptive
statistics (i.e., mean, standard deviation, maximum and minimum values).
5. Estimation/Analysis methodology (1 – 2 pages)
You explain in this section the methodology of the analysis, whether this is a regression
analysis with Ordinary Least Squares (OLS), or time-series analyses, variable forecast, etc.
You also explain here the variables chosen for the analysis (based on what you explained in
Section 3).
6. Results (1 – 2 pages)
You introduce and discuss the results of your statistical analysis. What are the main findings
of your analysis, and what can we learn from your work? 7. Conclusions and
recommendations (1 – 2 pages) Based on the findings of your analysis, what would the
managerial recommendations be? How the results of your project may inform managerial
decisions and contribute to the objectives of the firm? If you think that the analysis could be
improved by including other variables (not currently available in your dataset), what would
these variables be, and why?
Topics covered in the course:
– The Firm and its Goals
– Supply and Demand
– Demand Elasticity
– Demand Estimation and Forecasting
– The Theory and Estimation of Production
– The Theory and Estimation of Cost
-Pricing and Output Decisions: Perfect Competition and Monopoly
Research should cover any one of these topics.
I need both paper and PowerPoint
There file attached as an example for the project.