XECO 212 Week 9 Individual Assignment A New House – Decision
Review the final project criteria in Revised Appendix A.
Write a 1,500- to 2,500 word paper using the Final Project Template in which you decide whether to purchase a house. The Final Project Template requires you to cover the following:
Discuss some of the 10 Principles of economics that directly relate to your purchasing decision. Compare the marginal benefits and the marginal costs associated with your purchasing decision.
Discuss how changes in Supply and Demand of the housing market would affect your decision.
Consider your local labor market for home construction. Is labor relatively more expensive or less expensive in your area to build homes? How does it affect your decision to buy a home in your area compared to other areas? What changes in the home construction labor market could increase or decrease the price of a home and your decision to purchase one?
Explain how the strength of the economy and of the housing market (including forecasted changes) affect the marginal benefits and the marginal costs associated with that decision.
Explain how monetary policies (i.e. Federal Reserve actions) affect your decision to purchase a home. How do these policies affect the economy in general and the housing market specifically? How would your decision change if the Federal Reserve reduced the discount rate it lends to banks?
Explain how fiscal policies (government taxation, spending and regulation) affect your decision to purchase a house. How do these policies affect the economy in general and the housing market specifically? How would your decision change if the government changed the tax incentives to purchase a home?
Consider the role of international trade in your assessment of the strength of the economy. Discuss how a new tariff on building materials would affect your decision.
Assume for this project that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision could have long-term financial consequences.
Use three to five references in your paper together with specific examples and statistics in your analysis.
Format your paper according to APA guidelines.
Post your paper as an attachment.
Note: It is required that you use the Final Project Template when drafting your papers. The guidance in the template and its organization will make it both easier for you to ensure that you cover every requirement of the assignment and for me to grade.
Click the Assignment Files tab to submit your assignment.
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