ECON 7000 CU Microeconomics Economic Thinking about Bike Hire Venture Paper

1.Describe the context for your CLEAR-JE using about two or three sentences. Your context needs to help establish a sense of relevance for the required CLEAR-JE learning materials. The context needs to be personally relevant, something you have experienced or is of interest to you. For example, a context could involve work (past, current or intended), music, sport, eating out, hobbies, starting your own business as a student to make some cash on the side – anything involving life or the society we live in. In choosing your context, think about how you will be able to demonstrate the connections you have made with the learning materials relevant to the CLEAR-JE and economic thinking (use no more than 70 words).

2.Identify two theoretical concepts, one concept from each lecture in the relevant pair of lectures, that are directly related to what was introduced for the first time in the lecture material relevant to the CLEAR-JE. For example, CLEAR-JE No. 2 must focus on supply and demand since it is introduced for the first time in Lectures 3 and 4. It is not acceptable to write specifically about supply and demand in CLEAR-JE No. 4 which must relate to other theoretical concepts introduced for the first time in Lectures 7 and 8. However, links to supply and demand may be made to the new concepts introduced in lectures 7 and 8. The focus must be on concepts from Lectures 7 and 8 in CLEAR-JE No. 4. Please refer to Table 1 (below) which shows the corresponding lectures to a particular CLEAR-JE number. The theoretical concepts must be stated as dot points after your context has been established. The concepts you list should also be clearly applicable to your chosen context (50 to a maximum of 70 words).

3.In thinking about your chosen context, identify two or three assumptions you might have made, or you think others might have made, in any of your decision making prior to being exposed to the learning materials for the particular CLEAR-JE. The assumptions need to be relevant with regards to the context chosen in section 1 and the theoretical concepts chosen in section 2 (100 to maximum of 120 words).

4.State what you have learned from applying the CLEAR-JE learning materials by outlining how your thinking has now changed toward the economic concepts used in your context. In doing so, three key requirements need to be captured. First, comparisons between prior understanding (perhaps as someone with no economic background) and new insights from learning to think like an economist are evident. Second, in making such comparisons, each of the theoretical concepts listed in criterion 2 (above) need to be at the centre of outlining what was learned. Third, the linkages between learning and economic thinking are clearly conveyed through building on the chosen context (150 to 170 maximum words).

5.Concisely reflect on what you have learned using non-technical, plain language. First, do this by showing clear connections between your chosen context in section 1 and the theoretical concepts listed in section 2. Second, your reflections need to show an ability to extend what you learnt more generally (e.g. to a manager, a politician, parents, friends, workplaces, industry, society, or everyday decision making). Third, the practical benefit(s) that emerge from your reflection need to be highlighted and clearly relate to your chosen context in section 1 and the theoretical concepts listed in section 2. Fourth, you need to substantiate your claims by referencing at least three and at most four sources published within the past six months (200 to 220 maximum words).