Economists discover

post has three assignments

1: Economists discover

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Read the article “Economists discover miracle hangover cure: drink less”, and write an essay to address the following questions
• What are the basic assumptions that economists take as given when building their models of mentioned in the article? Why are these assumptions important to economists developing theory and building models? Why is it important that people using the models developed by economists know and understand these assumptions?
• What is the opportunity cost to Chris of going home to plan PlayStation?
• Jessica, the journalist, argues, ‘Hangovers are only possible because ordinary humans often do not fit the model of rational individuals prescribed by economists’. What reasons does she give for this? Is it necessarily true?
• According to economists how do rational people choose between alternatives and how do they explain changes in choices? Can you find an example to illustrate this in the article?
• Is the article a case of ‘It might work in theory, but it doesn’t work in practice’?

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2: Narrative structure in Coen brothers

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Analyze the film’s narrative structure/narrative techniques of “Burn after Reading.” When explaining this narration, don’t explain or summarize the story’s plot. That is understood. Instead, talk about how the film uses certain film techniques to tell the story. For example, what aspects of self-consciousness are displayed in the film’s style of narration… how does the film work to give us story information that the characters within the story may or may have access to… what types of hierarchy of knowledge is established by the film ?

3:The Development Company

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re-read carefully the group presentation brief above. select a development company and a proposed development, which is most likely to be but not restricted to that which you have chosen for your presentation. Whatever you select it must comply with the presentation brief.

present a written business case to the Board of the Development Company you have selected. The business case should recommend under what conditions the company should proceed with the development you have selected:-

1) The business case should include (but not necessarily be restricted to):-

a) The proposed scheme and its probable range of selling values,
b) A scheme development financial appraisal including the maximum price that should be paid for the development land (this should include an NPV analysis) – you may use BCIS or other acceptable cost data
c) Scheme-specific risks and local planning considerations
d) Any risks arising from the current economic/financial situation and/or any other systematic market risks. Your analysis should include an appropriate level of sensitivity analysis. You are not required to do any Monte Carlo analysis as this is a specific topic of study in CM5.
e) The financing of the scheme including an assessment of the impact of the scheme upon the company’s overall finances. You may present alternative financing schemes if you wish. (The assessments should include calculations of ROCE, ROSF and WACC both for the individual development and for the effect of the proposed development on those variables at corporate level.)
f) Where the proposed scheme fits into the current portfolio of development activities insofar as this can be discovered from reading publicly available company literature.
g) Potential alternative uses (i.e. the opportunity cost) for the funds to be employed for financing the scheme.

2) Your report should start with an executive summary of no more than 200 words, which will not be included in the final word count. The quality of your Executive Summary will be reflected in the mark for your Conclusions

3) Unlike a normal report this one should include references in the Harvard style and particular credit will be given for underpinning your case with academic, theoretical literature.

4) Your conclusions should clearly state your conditions for recommending to the Board that they proceed with the development and list any further information that you would like to obtain as a basis for decision.

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