The role of US and China in global economy pacesetting

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This is an assignment that discusses the role of US and China in global economy pacesetting. The paper also requires writing of a conceptual paper.

The role of US and China in global economy pacesetting

The final project provides you with an opportunity to use work from previous papers and discussion forums in formulating your paper, but it will also require additional research. You are required to adhere to APA (American Psychological Association) style guidelines and to cite your sources. Do not copy tables or material and present it as your own. A feature of good academic writing is building on the work of others in presenting a new approach to a business issue.

Use databases such as EBSCOhost and ProQuest (available through the myEdison portal in the My Resources block). Also, online journals from the New Jersey State Library to conduct your research. (In order to access resources from the New Jersey State Library, you must first sign up for a free library card.)

The role of the United States and China are pacesetting in the global economy. Greater cooperation will be essential to support the robustness of both economies. As a way of approaching this challenge, the Ministry of Economy of China has invited you to present a seminar to its key staff to better understand the conceptual framework of microeconomics in the U.S. economy. The minister feels that if his staff is better able to understand the U.S. perspective on microeconomics. The two countries might be able to work in a more cooperative way in the global economy.

The role of US and China in global economy pacesetting

To do this means that you must prepare a conceptual briefing paper. On the basics of the U.S. economy that will prepare the minister’s staff for your insightful seminar to follow. Please remember that this is a preliminary briefing paper that will be used to prepare Ministry of Economy staff for the seminar; it is not the seminar itself. Your briefing paper should include the following:


Firstly, provide a brief focus statement about your paper and what the reader can expect.

Private, common, and public goods:

Secondly, provide a brief synopsis of the differences between private, common, and public goods, and the value of this difference to the economy.

Market structures and costs of productions:

Thirdly, define market structures and costs of production and how they operate in an economy.

Consumer behavior:

Fourthly, explain the significance of consumer behavior to the economy in terms of marginal utility, total utility, and diminishing utility on the economy.

Taxation, government intervention, supply and demand, and economic growth:

Also, discuss the relationship between taxation, government intervention, and supply and demand and its relationship to economic growth.

Opportunity costs and decision making:

Explain opportunity costs and their importance to decision making at both the individual and organizational level in the economy.

Conclusions and outcomes:

Lastly, provide a few concluding paragraphs about what your paper discussed and how it can be beneficial for better understanding microeconomics.

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