This guide is for BUSI 620 Week 1 Homework 1, start to submission. Answer the assigned end-of-chapter questions and problems from Baye and Prince chapters 1 and 2, showing your work.
BUSI 620 is Global Economic Environment, 3 credit hours, in Liberty University's MBA. Canvas and the course guide file print the code as BUSI620; it is the same course.
| Course | BUSI 620 Global Economic Environment |
|---|---|
| Module/Week | 1 |
| Points | 80 points |
| Length | Not set in the guide; answer every assigned question |
| Sources | Baye and Prince |
| Faith integration | Not required by the guide |
| Format | As instructed |
What BUSI 620 Week 1 Homework 1 asks for
Each week you answer a set of questions and problems taken from the end of the chapters. Homework 1 is due in Module/Week 1 with Baye and Prince chapters 1 and 2. Worth 80 points.
Where it fits in BUSI 620
In the published schedule, Homework 1 is one of 14 graded written assignments in BUSI 620. It follows Week 1 Discussion Board Forum 1 and comes before Week 2 Discussion Board Forum 2. The same week also has Discussion Board Forum 1, so plan the week's writing together.
How BUSI 620 Week 1 Homework 1 is graded
Liberty grades Homework 1 with the rubric attached to the assignment in Canvas, worth 80 points in the published guide. That is about 8% of the course's 1,010 points. Read the rubric first. Each row is a criterion, and the wording of the highest column is the closest thing you have to a model answer.
Course grades in BUSI 620 use Liberty's point scale: an A is 940 to 1010 points of the course total. Missing the length or source minimum usually costs points on several rows at once, which is why the checklist below starts with them.
Timing in the published guide: Each course week begins on Monday morning at 12:00 a.m. (ET) and ends on Sunday night at 11:59 p.m. (ET). The final week ends at 11:59 p.m. (ET) on Friday. Check the due dates in your Canvas section, which govern.
The BUSI 620 Week 1 method, step by step
Set up the data before the write-up
Work through the Homework 1 calculations or software steps first and save the output. The written part interprets those numbers, so they have to be right before you explain them.
Show the method
Name the method and the reason it fits. One or two sentences are enough, but they must be there.
Report the results plainly
Report each result with its value and what it measures. Tables and figures help when they are labeled and referred to in the text.
Interpret in the context of the question
Explain what the results mean for the decision or question in BUSI 620, in plain terms. The interpretation is where the analysis points are earned.
Name the limits
State what the analysis cannot tell you: assumptions, data limits, or what would change the answer.
Submit the files the guide asks for
Check which files Canvas expects (spreadsheet, output, written document) and that each is complete and labeled (Not set in the guide; answer every assigned question).
Solve for equilibrium by setting quantity demanded equal to quantity supplied, then check the answer in both equations. For a shift, say which determinant changed and in which direction the curve moves before solving. Show the formula, the numbers substituted and the result, then add a sentence explaining what the answer means for a manager. Partial credit depends on visible work.
A structure for BUSI 620 Week 1 Homework 1
Word targets are planning numbers for about 1,100 words of body text, set by the length in the guide; the rubric decides where to spend more.
| Section | What it must do | Target |
|---|---|---|
| Calculations | Correct setup and math. | ~550 words |
| Explanations | Economic reasoning in words. | ~370 words |
| Presentation | Clear, labeled work. | ~180 words |
A topic angle that works
These chapters cover the fundamentals of managerial economics (economic profit, marginal analysis, present value) and market forces of demand and supply. Expect problems on shifts versus movements, equilibrium and the effects of price controls.
Model paragraph with notes
An original paragraph written by our desk to show the register that earns full rubric credit. It is study material: learn the moves, then write your own.
Demand: Qd = 100 minus 2P. Supply: Qs = 20 plus 2P. Setting them equal gives 100 minus 2P = 20 plus 2P, so P = 20 and Q = 60. If a price ceiling of $15 is imposed, Qd = 70 and Qs = 50, a shortage of 20 units, which is why ceilings below equilibrium create waiting lists or black markets.
- Setup.
- Solution.
- Meaning.
Mistakes that cost points on BUSI 620 Week 1
- Answers without work.
- No interpretation.
- Skipped questions.
Checklist before you submit
- Length: Not set in the guide; answer every assigned question
- Sources: Baye and Prince
- Calculations checked and output saved
- Every table and figure referred to in the text
- Each rubric row read against the section that answers it
Questions students ask
How much is BUSI 620 homework worth?
Seven sets at 80 points each, 560 points in total.
How many points is BUSI 620 Week 1 Homework 1 worth?
80 points in Liberty's published course guide for BUSI 620, out of a course total of 1,010 points (about 8% of the grade). The rubric attached to the assignment in Canvas shows how those points are divided.
Is BUSI 620 Week 1 the same in every section of BUSI 620?
This guide follows Liberty's published course guide for BUSI 620. Liberty notes that course content can change from term to term, so if your Canvas section shows different instructions, a different week or different points, follow Canvas and your instructor.
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