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Five Things You Need To Create An Excellent Industry-Specific Economics Case Study

Economics is a diverse and vast subject that studies the production, distribution, and consumption of goods & services across human society. Students need to look into the business economics involved while crafting company focused case studies, for example, an Apple case study. Scoring well in these case studies requires substantial knowledge about the economical environment of the company involved and related global economic factors as well.

This article compiles five things that can help create a top-notch company focused on economics case studies.

Sound problem-solving strategies

Having a potent solving strategy is essential for a successful business economics assignment and can help one score big.

Whether it’s an assignment on macro & microeconomics or a case study on social stratification, the solution strategy must be flexible and versatile enough to crack any question. In order to develop such a sound strategy, a student must take stock of the following:

1.Their knowledge, grasp of the basic & advanced concepts, applications, and overall level of preparation

2.Available study materials, their relevancy, and the possibility of gathering more materials

3.Effectiveness of their study routine, time management, and any contingency plan

4.Participation in practice and mock tests

5.Understanding the scoring rubric and preparing accordingly

6.Implementing Coca cola SWOT and PESTLE analyses

Awareness about global economic trends

Books and other texts reflect the rules, entities, and events that control the global economy. However, the global economy is a constantly changing entity and major incidences have a profound impact on it.

To that end, here are some major incidences and existing situations that have the potential of transforming the global economic landscape.
1.According to economists, the COVID-19 pandemic will reduce the GDP value from 3.0% to 2.4% in 2020.

2.After taking a serious downturn, China’s economy rebounded strongly in the second quarter. It is the first economy to get hit by the crisis and the first one to recover.

3.Retail sales in Europe have recovered strongly, up by 17.8%. European countries eased up on economic restrictions after successful suppression of virus transmission.

4.Economic watchdogs and experts analysts suggest that current consumer behavior is driven by fear, not by government lockdowns.

Current factors affecting the world economy

The Covid-19 pandemic, its long-term repercussions, and the resulting factors have had a detrimental impact on economies and industries across different sectors. The points below list some such influential factors:
1.Length of the pandemic and necessary lockdowns
2.Voluntary social distancing
3.Ability of displaced and unemployed workers to secure employment
4.Lon-term impact of firm closure and unemployment
5.Changes to workplace safety, related policies and business costs
6.Various other microeconomic changes

Sound knowledge about the economic factors affecting the company

If we consider the example of a global mega-corporation such as Apple, there are numerous factors that affect its operation significantly. Factors like:
1.Currency Exchange Rate
2.Interest Rates
3.Cost of Labor
4.Tax Rates
5.Inflation Rate

All such macroeconomic factors need to be taken into consideration if you are crafting an Apple case study from an economic perspective.

Well, that’s all the space we have for today. Come back here next time for some more informative write-ups on a wide variety of topics!
2020-11-26 21:07:50, views: 50, Comments: 0
   
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