ARE 012, NCSU


ARE 012 Labs

 

Lab #

Purpose of Lab

Lab #1

· Polish your email skills
· Familiarize you with the course's web page

Lab #2

Answer Sheet

· Review some of the basic economic concepts covered in lecture since the last lab
· Teach you how to calculate and interpret the unemployment rate
· Polish your ability at using the scientific method in research
· Teach you how to determine the purchasing power of a dollar
· Show you how to compare the cost-of-living among states

Lab #3

Answer Sheet

· Teach you how to estimate the cost of raising children
· Show you how to interpret the government's role in the economy
· Examine the significance of the federal debt and federal budget deficits
· Introduce you to several benchmarks that are used to gauge economic activity

Lab #4

Answer Sheet

· Teach you how to calculate your tax burden, disposable income, and discretionary income
· Introduce you to the Consumption - Production Model of economic activity
· Show you how to incorporate fiscal policy into the Consumption - Production Model
· Analyze the components of interest rates

Lab #5

· Exam 1 for Spring 1998 is available for your inspection

Lab #6

Answer Sheet

· Review some of the basic economic concepts covered in lecture since the last lab
· Help you determine if a second job is worthwhile
· Teach you how to analyze your expenses

Lab #7

 Answer Sheet

· Examine the functions of an economic system
· Teach you how to use the opportunity cost of an activity in making decisions

Lab #8

 Answer Sheet

· Review the mathematics of percents and percent changes
· Examine the Circular Flow Model of economic activity
· Show you how to develop an Asset Replacement Fund
· Teach you how to use the physical efficiency and the economic efficiency of a factor of production in making business decisions

Lab #9

 Answer Sheet

· Teach you how to calculate the ownership and operating costs of capital goods

Lab #10

· Exam 2 for Spring 1998 is available for your inspection

Lab #11

 Answer Sheet

· Teach you how use marginal analysis in making business and personal decisions
· Review the fundamentals of graphing

Lab #12

 Answer Sheet

· Examine the production possibilities of goods and services
· Develop your ability at using real and relative prices in making business and personal decisions
· Analyze demand schedules and curves

Lab #13

Answer Sheet

· Continue our study of demand schedules and curves from Lab 12
· Analyze supply schedules and curves
· Teach you how demand and supply schedules determine the market clearing price and quantity of a commodity

Lab #14

 Answer Sheet

· Develop your ability to calculate and interpret elasticities

  • Cost of labor worksheet
  • Economic costs of production are introduced and students will make applied use of the profit maximizing output rule, and profit maximizing input utilization rule

Lab #15

Machinery Summary

Answer Sheet

· Calculation of annual ownership and operating costs will be reviewed, and students will use these costs to make simple purchase or lease decisions for machinery and equipment utilizing break-even analysis

Final Exam

· Exam 3 for Spring 1998 is available for your inspection and will be similar to what you can expect for your final exam this semester.

 

 

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Last Modified: June 2008
Email: herman_sampson@ncsu.edu