Tag: Model Answer

  • [Solved] 2part_1

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    – 2 years ago **files (1)** – ## 40_3.docx **## 40_3.docx** **Part 1** Create a 2 page plan proposal for an interprofessional team to collaborate and work toward driving improvements in the organizational issue: **Staffing Shortages**. **Part 2** Create an 8 slide PowerPoint presentation for one o…

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    Assignment Prompt & Instructions

    – 2 years ago

    **files (1)**

    – ## 40_3.docx

    **## 40_3.docx**

    **Part 1**

    Create a 2 page plan proposal for an interprofessional team to collaborate and work toward driving improvements in the organizational issue:
    **Staffing Shortages**.

    **Part 2**

    Create an 8 slide PowerPoint presentation for one or more stakeholder or leadership groups to generate interest and buy-in for the plan proposal you developed for staffing shortages.

    **## 40_3.docx**

    **Part 1**

    Create a 2 page plan proposal for an interprofessional team to collaborate and work toward driving improvements in the organizational issue:
    **Staffing Shortages**.

    **Part 2**

    Create an 8 slide PowerPoint presentation for one or more stakeholder or leadership groups to generate interest and buy-in for the plan proposal you developed for staffing shortages.

  • [Solved] W1 T1

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    [>Accounting homework help](https://www.sweetstudy.com/fields/business-finance-accounting) – 2 years ago **files (1)** – ## W1t1.docx **## W1t1.docx** Due Saturday: 03/16 APA 4 paragraphs 3 sources Describe the connections between generally accepted accounting principles, Governmental Accounting Sta…

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    [>Accounting homework help](https://www.sweetstudy.com/fields/business-finance-accounting)

    – 2 years ago

    **files (1)**

    – ## W1t1.docx

    **## W1t1.docx**

    Due Saturday: 03/16

    APA 4 paragraphs 3 sources

    Describe the connections between generally accepted accounting principles, Governmental Accounting Standards Board (GASB), Federal Accounting Standards Advisory Board (FASAB), the Financial Accounting Standards Board (FASB) and the American Institute of Certified Public Accountants (AICPA).

    **## W1t1.docx**

    Due Saturday: 03/16

    APA 4 paragraphs 3 sources

    Describe the connections between generally accepted accounting principles, Governmental Accounting Standards Board (GASB), Federal Accounting Standards Advisory Board (FASAB), the Financial Accounting Standards Board (FASB) and the American Institute of Certified Public Accountants (AICPA).

  • [Solved] Nursing Homework

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    Attached – 2 years ago **files (2)** – ## NursingHomework.edited1.docx – Screenshot_20250315_163045_Chrome.jpg **## NursingHomework.edited1.docx** 2 **Discussion** Student’s Name Institutional Affiliation Professor’s Name Course Name Due Date Improving Follow-Up After Hospitalization for Mental I…

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    Attached

    – 2 years ago

    **files (2)**

    – ## NursingHomework.edited1.docx

    – Screenshot_20250315_163045_Chrome.jpg

    **## NursingHomework.edited1.docx**

    2

    **Discussion**

    Student’s Name

    Institutional Affiliation

    Professor’s Name

    Course Name

    Due Date

    Improving Follow-Up After Hospitalization for Mental Illness (FUH) involves improved communication, proactive patient participation, and novel technology. Optimizing discharge planning is crucial to prompt follow-up. Poor discharge planning may cause missing follow-up visits, readmission rates, and mental health issues (Marshall et al., 2024). A standardized discharge checklist should ensure every patient has a follow-up appointment before leaving the hospital. During warm handoffs, the inpatient psychiatric team must work with case managers to provide outpatient clinicians with real-time discharge summaries and medication reconciliation information. EHR notifications and automated appointment reminders may boost follow-up visit adherence. In addition, a discharge liaison nurse or social worker should be contacted 48 hours after release to emphasize outpatient care and address transportation, cost, and medication access issues (Hugunin et al., 2023).

    Improving FUH adherence requires case management and community engagement. Case managers help address socioeconomic determinants of health, such as insecure housing, lack of insurance, and poor mobility that impair follow-up treatment (Ojo et al., 2024). Mobile outreach teams may visit high-risk patients with serious mental diseases, including schizophrenia and bipolar disorder, at home to fill gaps in treatment. Integration of peer support programs should help newly released patients navigate their follow-up plans. Peer navigators may improve outpatient engagement and adherence by giving emotional support and direct assistance (Smith et al., 2021). Case managers should work with community-based organizations to link patients to housing help and vocational rehabilitation programs since employment and stable living conditions predict long-term mental health stability.

    Another demonstrated FUH improvement is telehealth. Telehealth may help prevent missing follow-up appointments due to transportation or work schedules (Åhlin et al., 2021). Expanding telepsychiatry enables patients visit outpatient clinicians from home, decreasing engagement barriers. Psychiatric nurse practitioners and therapists should give virtual follow-ups to patients who miss appointments. Medication reminders, mood monitoring, and provider communications via mHealth apps may also increase treatment adherence. Using AI-driven chatbots for psychoeducation and crisis management may reduce decompensation between consultations (Marshall et al., 2024). Policymakers and hospital managers should lobby for insurance reimbursement equity between telehealth and in-person visits to preserve and access these digital health options.

    Improving care coordination via multidisciplinary teams is another way to boost FUH. Inpatient psychiatrists, nurses, case managers, social workers, and outpatient clinicians must collaborate for continuity of treatment in mental healthcare (Ojo et al., 2024). Weekly multidisciplinary meetings when inpatient and outpatient teams assess high-risk patients help avoid follow-up errors. These sessions should monitor appointment adherence, identify impediments, and plan patient-specific remedies. Side effects and nonadherence can cause rehospitalization. Thus, pharmacists on mental care teams may enhance medication management (Smith et al., 2021). A pharmacist may quickly change a regimen if an outpatient psychiatrist finds medication noncompliance owing to side effects, minimizing decompensation risk. Staff training in trauma-informed care and motivational interviewing may improve patient-provider interactions and increase follow-up treatment involvement.

    The FUH metric should include CQI projects for long-term efficacy. To detect treatment gaps, hospitals and outpatient clinics must collect and analyze follow-up adherence, patient satisfaction, and readmission patterns (Hugunin et al., 2023). KPIs, like the proportion of patients that follow up between seven and 30 days, might guide focused treatments. Regular audits and feedback loops should assess FUH strategy efficacy. Patient advisory committees of people with lived experience should also help shape legislation to ensure patient-centeredness. Healthcare systems may build a strong FUH framework that emphasizes patient well-being, decreases readmission rates, and promotes long-term mental health by encouraging adaptation and continual learning.

    **References**

    Åhlin, P., Almström, P., & Wänström, C. (2021). When Patients Get stuck: a Systematic Literature Review on Throughput Barriers in hospital-wide Patient Processes.
    _Health Policy_,
    _126_(2). https://doi.org/10.1016/j.healthpol.2021.12.002

    Hugunin, J., Davis, M., Larkin, C., Baek, J., Skehan, B., & Lapane, K. L. (2023). Established outpatient care and follow-up after acute psychiatric service use among youths and young adults.
    _Psychiatric Services_,
    _74_(1), 2–9. https://doi.org/10.1176/appi.ps.202200047

    Marsall, M., Hornung, T., Bäuerle, A., & Weigl, M. (2024). Quality of care transition, patient safety incidents, and patients’ health status: a structural equation model on the complexity of the discharge process.
    _BMC Health Services Research_,
    _24_(1). https://doi.org/10.1186/s12913-024-11047-3

    Ojo, S., Okoye, T. O., Olaniyi, S. A., Ofochukwu, V. C., Obi, M. O., Nwokolo, A. S., Okeke-Moffatt, C., Iyun, O. B., Idemudia, E. A., Obodo, O. R., Mokwenye, V. C., & Okobi, O. E. (2024). Ensuring Continuity of Care: Effective Strategies for the Post-hospitalization Transition of Psychiatric Patients in a Family Medicine Outpatient Clinic.
    _Cureus_,
    _16_(1). https://doi.org/10.7759/cureus.52263

    Smith, T. E., Haselden, M., Corbeil, T., Wall, M. M., Tang, F., Essock, S. M., Frimpong, E., Goldman, M. L., Mascayano, F., Radigan, M., Schneider, M., Wang, R., Dixon, L. B., & Olfson, M. (2021). Factors Associated With Discharge Planning Practices for Patients Receiving Inpatient Psychiatric Care.
    _Psychiatric Services_,
    _72_(5), 498–506. https://doi.org/10.1176/appi.ps.202000021

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    **## NursingHomework.edited1.docx**

    2

    **Discussion**

    Student’s Name

    Institutional Affiliation

    Professor’s Name

    Course Name

    Due Date

    Improving Follow-Up After Hospitalization for Mental Illness (FUH) involves improved communication, proactive patient participation, and novel technology. Optimizing discharge planning is crucial to prompt follow-up. Poor discharge planning may cause missing follow-up visits, readmission rates, and mental health issues (Marshall et al., 2024). A standardized discharge checklist should ensure every patient has a follow-up appointment before leaving the hospital. During warm handoffs, the inpatient psychiatric team must work with case managers to provide outpatient clinicians with real-time discharge summaries and medication reconciliation information. EHR notifications and automated appointment reminders may boost follow-up visit adherence. In addition, a discharge liaison nurse or social worker should be contacted 48 hours after release to emphasize outpatient care and address transportation, cost, and medication access issues (Hugunin et al., 2023).

    Improving FUH adherence requires case management and community engagement. Case managers help address socioeconomic determinants of health, such as insecure housing, lack of insurance, and poor mobility that impair follow-up treatment (Ojo et al., 2024). Mobile outreach teams may visit high-risk patients with serious mental diseases, including schizophrenia and bipolar disorder, at home to fill gaps in treatment. Integration of peer support programs should help newly released patients navigate their follow-up plans. Peer navigators may improve outpatient engagement and adherence by giving emotional support and direct assistance (Smith et al., 2021). Case managers should work with community-based organizations to link patients to housing help and vocational rehabilitation programs since employment and stable living conditions predict long-term mental health stability.

    Another demonstrated FUH improvement is telehealth. Telehealth may help prevent missing follow-up appointments due to transportation or work schedules (Åhlin et al., 2021). Expanding telepsychiatry enables patients visit outpatient clinicians from home, decreasing engagement barriers. Psychiatric nurse practitioners and therapists should give virtual follow-ups to patients who miss appointments. Medication reminders, mood monitoring, and provider communications via mHealth apps may also increase treatment adherence. Using AI-driven chatbots for psychoeducation and crisis management may reduce decompensation between consultations (Marshall et al., 2024). Policymakers and hospital managers should lobby for insurance reimbursement equity between telehealth and in-person visits to preserve and access these digital health options.

    Improving care coordination via multidisciplinary teams is another way to boost FUH. Inpatient psychiatrists, nurses, case managers, social workers, and outpatient clinicians must collaborate for continuity of treatment in mental healthcare (Ojo et al., 2024). Weekly multidisciplinary meetings when inpatient and outpatient teams assess high-risk patients help avoid follow-up errors. These sessions should monitor appointment adherence, identify impediments, and plan patient-specific remedies. Side effects and nonadherence can cause rehospitalization. Thus, pharmacists on mental care teams may enhance medication management (Smith et al., 2021). A pharmacist may quickly change a regimen if an outpatient psychiatrist finds medication noncompliance owing to side effects, minimizing decompensation risk. Staff training in trauma-informed care and motivational interviewing may improve patient-provider interactions and increase follow-up treatment involvement.

    The FUH metric should include CQI projects for long-term efficacy. To detect treatment gaps, hospitals and outpatient clinics must collect and analyze follow-up adherence, patient satisfaction, and readmission patterns (Hugunin et al., 2023). KPIs, like the proportion of patients that follow up between seven and 30 days, might guide focused treatments. Regular audits and feedback loops should assess FUH strategy efficacy. Patient advisory committees of people with lived experience should also help shape legislation to ensure patient-centeredness. Healthcare systems may build a strong FUH framework that emphasizes patient well-being, decreases readmission rates, and promotes long-term mental health by encouraging adaptation and continual learning.

    **References**

    Åhlin, P., Almström, P., & Wänström, C. (2021). When Patients Get stuck: a Systematic Literature Review on Throughput Barriers in hospital-wide Patient Processes.
    _Health Policy_,
    _126_(2). https://doi.org/10.1016/j.healthpol.2021.12.002

    Hugunin, J., Davis, M., Larkin, C., Baek, J., Skehan, B., & Lapane, K. L. (2023). Established outpatient care and follow-up after acute psychiatric service use among youths and young adults.
    _Psychiatric Services_,
    _74_(1), 2–9. https://doi.org/10.1176/appi.ps.202200047

    Marsall, M., Hornung, T., Bäuerle, A., & Weigl, M. (2024). Quality of care transition, patient safety incidents, and patients’ health status: a structural equation model on the complexity of the discharge process.
    _BMC Health Services Research_,
    _24_(1). https://doi.org/10.1186/s12913-024-11047-3

    Ojo, S., Okoye, T. O., Olaniyi, S. A., Ofochukwu, V. C., Obi, M. O., Nwokolo, A. S., Okeke-Moffatt, C., Iyun, O. B., Idemudia, E. A., Obodo, O. R., Mokwenye, V. C., & Okobi, O. E. (2024). Ensuring Continuity of Care: Effective Strategies for the Post-hospitalization Transition of Psychiatric Patients in a Family Medicine Outpatient Clinic.
    _Cureus_,
    _16_(1). https://doi.org/10.7759/cureus.52263

    Smith, T. E., Haselden, M., Corbeil, T., Wall, M. M., Tang, F., Essock, S. M., Frimpong, E., Goldman, M. L., Mascayano, F., Radigan, M., Schneider, M., Wang, R., Dixon, L. B., & Olfson, M. (2021). Factors Associated With Discharge Planning Practices for Patients Receiving Inpatient Psychiatric Care.
    _Psychiatric Services_,
    _72_(5), 498–506. https://doi.org/10.1176/appi.ps.202000021

    **Screenshot_20250315_163045_Chrome.jpg**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/screenshot-20250315-163045-chrome-jpg-10227921)

    **## NursingHomework.edited1.docx**

    2

    **Discussion**

    Student’s Name

    Institutional Affiliation

    Professor’s Name

    Course Name

    Due Date

    Improving Follow-Up After Hospitalization for Mental Illness (FUH) involves improved communication, proactive patient participation, and novel technology. Optimizing discharge planning is crucial to prompt follow-up. Poor discharge planning may cause missing follow-up visits, readmission rates, and mental health issues (Marshall et al., 2024). A standardized discharge checklist should ensure every patient has a follow-up appointment before leaving the hospital. During warm handoffs, the inpatient psychiatric team must work with case managers to provide outpatient clinicians with real-time discharge summaries and medication reconciliation information. EHR notifications and automated appointment reminders may boost follow-up visit adherence. In addition, a discharge liaison nurse or social worker should be contacted 48 hours after release to emphasize outpatient care and address transportation, cost, and medication access issues (Hugunin et al., 2023).

    Improving FUH adherence requires case management and community engagement. Case managers help address socioeconomic determinants of health, such as insecure housing, lack of insurance, and poor mobility that impair follow-up treatment (Ojo et al., 2024). Mobile outreach teams may visit high-risk patients with serious mental diseases, including schizophrenia and bipolar disorder, at home to fill gaps in treatment. Integration of peer support programs should help newly released patients navigate their follow-up plans. Peer navigators may improve outpatient engagement and adherence by giving emotional support and direct assistance (Smith et al., 2021). Case managers should work with community-based organizations to link patients to housing help and vocational rehabilitation programs since employment and stable living conditions predict long-term mental health stability.

    Another demonstrated FUH improvement is telehealth. Telehealth may help prevent missing follow-up appointments due to transportation or work schedules (Åhlin et al., 2021). Expanding telepsychiatry enables patients visit outpatient clinicians from home, decreasing engagement barriers. Psychiatric nurse practitioners and therapists should give virtual follow-ups to patients who miss appointments. Medication reminders, mood monitoring, and provider communications via mHealth apps may also increase treatment adherence. Using AI-driven chatbots for psychoeducation and crisis management may reduce decompensation between consultations (Marshall et al., 2024). Policymakers and hospital managers should lobby for insurance reimbursement equity between telehealth and in-person visits to preserve and access these digital health options.

    Improving care coordination via multidisciplinary teams is another way to boost FUH. Inpatient psychiatrists, nurses, case managers, social workers, and outpatient clinicians must collaborate for continuity of treatment in mental healthcare (Ojo et al., 2024). Weekly multidisciplinary meetings when inpatient and outpatient teams assess high-risk patients help avoid follow-up errors. These sessions should monitor appointment adherence, identify impediments, and plan patient-specific remedies. Side effects and nonadherence can cause rehospitalization. Thus, pharmacists on mental care teams may enhance medication management (Smith et al., 2021). A pharmacist may quickly change a regimen if an outpatient psychiatrist finds medication noncompliance owing to side effects, minimizing decompensation risk. Staff training in trauma-informed care and motivational interviewing may improve patient-provider interactions and increase follow-up treatment involvement.

    The FUH metric should include CQI projects for long-term efficacy. To detect treatment gaps, hospitals and outpatient clinics must collect and analyze follow-up adherence, patient satisfaction, and readmission patterns (Hugunin et al., 2023). KPIs, like the proportion of patients that follow up between seven and 30 days, might guide focused treatments. Regular audits and feedback loops should assess FUH strategy efficacy. Patient advisory committees of people with lived experience should also help shape legislation to ensure patient-centeredness. Healthcare systems may build a strong FUH framework that emphasizes patient well-being, decreases readmission rates, and promotes long-term mental health by encouraging adaptation and continual learning.

    **References**

    Åhlin, P., Almström, P., & Wänström, C. (2021). When Patients Get stuck: a Systematic Literature Review on Throughput Barriers in hospital-wide Patient Processes.
    _Health Policy_,
    _126_(2). https://doi.org/10.1016/j.healthpol.2021.12.002

    Hugunin, J., Davis, M., Larkin, C., Baek, J., Skehan, B., & Lapane, K. L. (2023). Established outpatient care and follow-up after acute psychiatric service use among youths and young adults.
    _Psychiatric Services_,
    _74_(1), 2–9. https://doi.org/10.1176/appi.ps.202200047

    Marsall, M., Hornung, T., Bäuerle, A., & Weigl, M. (2024). Quality of care transition, patient safety incidents, and patients’ health status: a structural equation model on the complexity of the discharge process.
    _BMC Health Services Research_,
    _24_(1). https://doi.org/10.1186/s12913-024-11047-3

    Ojo, S., Okoye, T. O., Olaniyi, S. A., Ofochukwu, V. C., Obi, M. O., Nwokolo, A. S., Okeke-Moffatt, C., Iyun, O. B., Idemudia, E. A., Obodo, O. R., Mokwenye, V. C., & Okobi, O. E. (2024). Ensuring Continuity of Care: Effective Strategies for the Post-hospitalization Transition of Psychiatric Patients in a Family Medicine Outpatient Clinic.
    _Cureus_,
    _16_(1). https://doi.org/10.7759/cureus.52263

    Smith, T. E., Haselden, M., Corbeil, T., Wall, M. M., Tang, F., Essock, S. M., Frimpong, E., Goldman, M. L., Mascayano, F., Radigan, M., Schneider, M., Wang, R., Dixon, L. B., & Olfson, M. (2021). Factors Associated With Discharge Planning Practices for Patients Receiving Inpatient Psychiatric Care.
    _Psychiatric Services_,
    _72_(5), 498–506. https://doi.org/10.1176/appi.ps.202000021

    **Screenshot_20250315_163045_Chrome.jpg**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/screenshot-20250315-163045-chrome-jpg-10227921)

  • [Solved] J.C is an 82-year-old white man who was evaluated by GI specialist due to abdominal discomfort, loss of appetite, weight lost, weakness and occasional nausea.

    ✓ Verified Academic Solution Available

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    **Past Medical History (PMH):** Patient is Diabetic, controlled with Metformin 500 mg by mouth twice a day, Lantus 15 units SC bedtime. Hypertensive, controlled with Olmesartan 20 mg by mouth once a day. Atrial Fibrillation, controlled with Rivaroxaban 15 mg by mouth once a day and bisoprolol 10 mg …

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    **Past Medical History (PMH):**

    Patient is Diabetic, controlled with Metformin 500 mg by mouth twice a day, Lantus 15 units SC bedtime. Hypertensive, controlled with Olmesartan 20 mg by mouth once a day. Atrial Fibrillation, controlled with Rivaroxaban 15 mg by mouth once a day and bisoprolol 10 mg by mouth once a day.

    **Labs:**

    Hb 12.7 g/dl; Hct 38.8% WBC 8.2; Glycemia 74mg/dl; Creatinine 0.8 mg/dl; BUN 9.8 mg/dl; AST 21 U/L ALT 17 U/L; Bil T 1.90 mg/dl; Ind 0.69 mg/dl; Dir 1.21 mg/dl.

    **Diagnostic test:**

    Endoscopic Ultrasound of the Pancreas. Solid mass in the head of pancreas 4 cms, infiltrating Wirsung duct. The solid mass impress to infiltrate the superior mesenteric vein. Perilesional node is detected, 1.5 cms, metastatic aspect. Fine needle aspiration (FNA) biopsy: Ductal adenocarcinoma.

    **Case study questions:**

    1. Please name the potential most common sites for metastasis on J.C and why?
    2. What are tumor cell markers and why tumor cell markers are ordered for a patient with pancreatic cancer?
    3. Based on the case study described, proceed to classify the tumor based on the TNM Stage classification. Why this classification important?
    4. Discussed characteristic of malignant tumors regarding it cells, growth and ability to spread.
    5. Describe the carcinogenesis phase when a tumor metastasizes.
    6. Choose the tissue level that is affected on the patient discussed above: Epithelial, Connective, Muscle or Neural. Support your answer.

    **Submission Instructions:**

    – Your initial post should be at least 500 words, formatted and cited in current APA style with support from at least 2 academic sources. Your initial post is worth 8 points.
    – You should respond to at least two of your peers by extending, refuting/correcting, or adding additional nuance to their posts. Your reply posts are worth 2 points (1 point per response.)
    – All replies must be constructive and use literature where possible.

    Please use this rubric

    **Discussion Rubric**

    Discussion Rubric

    CriteriaRatingsPts

    This criterion is linked to a Learning OutcomeIdentification of Main Issues, Problems, and Concepts

    **5** **to >4.0** **ptsDistinguished**

    **Identifies and demonstrates a sophisticated understanding of the issues, problems, and concepts.**

    **4** **to >3.0** **ptsExcellent**

    **Identifies and demonstrates an accomplished understanding of most issues, problems, and concepts.**

    **3** **to >0.0** **ptsFair**

    **Identifies and demonstrates an acceptable understanding of most issues, problems, and concepts.**

    **0** **ptsPoor**

    **Identifies and demonstrates an unacceptable understanding of most issues, problems, and concepts. Or nothing was posted.**

    5 pts

    This criterion is linked to a Learning OutcomeUse of Citations, Writing Mechanics and APA Formatting Guidelines

    **3** **ptsDistinguished**

    **Effectively uses the literature and other resources to inform their work. Exceptional use of citations and extended referencing. High level of APA precision and free of grammar and spelling errors.**

    **2** **ptsExcellent**

    **Effectively uses the literature and other resources to inform their work. Moderate use of citations and extended referencing. Moderate level of APA precision and free of grammar and spelling errors.**

    **1** **ptsFair**

    **Ineffectively uses the literature and other resources to inform their work. Moderate use of citations and extended referencing. APA style and writing mechanics need more precision and attention to detail.**

    **0** **ptsPoor**

    **Ineffectively uses the literature and other resources to inform their work. Unacceptable use of citations and extended referencing. APA style and writing mechanics need serious attention. Or nothing was posted.**

    3 pts

    This criterion is linked to a Learning OutcomeResponse to Posts of Peers

    **2** **ptsDistinguished**

    **Student constructively responded to two other posts and either extended, expanded or provided a rebuttal to each.**

    **1** **ptsFair**

    **Student constructively responded to one other post and either extended, expanded or provided a rebuttal.**

    **0** **ptsPoor**

    **Student provided no response to a peer's post.**

    2 pts

    Total Points: 10

    – 2 years ago

  • [Solved] Nursing Assignment

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    Attached – [\ \ Screenshot_20250315_163045_Chrome.jpg](https://www.sweetstudy.com/files/screenshot-20250315-163045-chrome-jpg "Screenshot_20250315_163045_Chrome.jpg") – 2 years ago

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    Attached

    – [\
    \
    Screenshot_20250315_163045_Chrome.jpg](https://www.sweetstudy.com/files/screenshot-20250315-163045-chrome-jpg "Screenshot_20250315_163045_Chrome.jpg")

    – 2 years ago

  • [Solved] discussion

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    In-depth study guidance and analytical solution covering discussion.

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    Assignment Prompt & Instructions

    Full assignment prompt and step-by-step guidance are included in the downloadable solution file.

  • [Solved] Health Assessment

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    – 2 years ago **files (3)** – ## PROPOSALAC.docx – ## EXEMPLARPEEPProposalandActionPlan5.pdf – 31525545PM.pdf **## PROPOSALAC.docx** *******This is an proposal of the project that I will implement** ***** Title of your project. “Understanding the importance of early and adequate prenatal c…

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    – 2 years ago

    **files (3)**

    – ## PROPOSALAC.docx

    – ## EXEMPLARPEEPProposalandActionPlan5.pdf

    – 31525545PM.pdf

    **## PROPOSALAC.docx**

    *******This is an proposal of the project that I will implement** *****

    Title of your project. “Understanding the importance of early and adequate prenatal care.

    Planned date(s) of implementation.
    **March 24, 2025**

    The facility where you plan to conduct your PEEP live health teaching session.

    *****I planned to conduct my PEEP at Queen City Women’s Health**.

    **Healthy People 2030 topic and objective** being addressed by your PEEP

    **My Healthy People 2030 Objective: Increase the proportion of women who receives early and adequate prenatal care – MICH-08/

    **Who is your target population?** (Reminder: Direct care activities to clients which is defined as individuals, families, groups, communities, or populations)

    **How will your target population be impacted by your PEEP**.

    **Behavioral Objectives** (educational objectives)

    Minimum of four behavioral objectives, in SMART format, that will guide your teaching. Remember, these are brief statements identifying what you expect your audience to gain in knowledge, skill, or attitudes as a result of your live education. Each objective must be specific, measurable, attainable, realistic, and time-bound.

    **Teaching Strategies**

    What teaching strategies (methods, activities, and materials) will you utilize during your live education.

    A discussion of the pros and cons of each teaching strategy that you have chosen is required.

    **Note:** As part of Module 8 Clinical Experience Journal and Analysis assignment, you will be required to submit the teaching material(s) developed for your PEEP. This may be a PowerPoint developed to guide your teaching, a brochure for participants to take home, a photo of a poster/presentation board, a video, etc. Materials must be designed and created by the student. Should include the Healthy People 2030 topic and objective and your behavioral objectives. Include four required evidence based references cited in correct 7th edition APA. Don't forget in-text citations.

    **Outcome Evaluation**

    What evaluation strategies will you utilize in determining whether or not your audience met each behavioral objective.

    Consider a short-term and long-term evaluation plan

    What makes your chosen evaluation method most appropriate for your specific audience.

    **Teacher Performance Evaluation**

    Discuss the teacher performance evaluation strategies. How will you evaluate your own performance as a teacher.

    What makes your chosen teacher performance evaluation method most appropriate for your specific audience.

    **Content Outline**

    Content should be based on your four behavioral objectives.

    Detailed content outline of the information you plan to present during your live education.

    Include in text citations of the required four reference using correct 7th edition APA to earn credit.

    Approximately one page in length, may use a traditional outline, bullet points, or any other outline format you choose.

    **References**

    Adhere to 7th edition APA formatting when list the references you used to develop content for your live education. Include a minimum of four references:

    Two professional websites.

    Two evidence-based articles from peer reviewed scholarly journals

    This is an example to show you what an ideal assignment should look like. Do not copy this exemplar as this is considered plagiarism.

    **Don’t worry about doing the action plan. I have already done it.**

    **## EXEMPLARPEEPProposalandActionPlan5.pdf**

    ACTION PLAN AND PROPOSAL

    1

    Title of the paper

    Author's name

    Institutional affiliation

    A student paper should also include the course number and name, instructor name,

    and assignment due date

    ACTION PLAN AND PROPOSAL

    2

    Four Student
    Learning

    Outcomes for NU
    456

    Planned Actions to Achieve
    Student Learning Outcome

    Target
    Date(s)

    Estimated
    time

    (hours)

    SLO 1
    Demonstrate
    critical thinking
    through application
    of appropriate
    theories, research,
    ethical reasoning,
    and knowledge of
    the healthcare
    system to deliver
    safe quality care to
    families,
    aggregates, and
    populations.

    Research applicable and appropriate data in
    relation to the selected topic of percutaneous
    interventions related to cardiac events

    Collaborate with preceptor to identify ways the
    nursing process affects the timeline to
    percutaneous intervention and any potential
    side effects to delays in care. Establish if any
    nurse-driven practices could hasten the
    process.

    Research the populations served by Ascension
    St. Vincent’s East to identify the target
    audience of teaching and collaborate with
    preceptor to establish better knowledge of the
    healthcare system and identify any potential
    barriers to learning.

    2/12/23

    2/13/23

    2/14/23

    3

    2

    2

    SLO 7
    Demonstrate
    effective
    communication
    and collaboration
    with other
    healthcare team
    members/disciplin
    es, organizations,
    key stakeholders,
    and community
    members to foster
    partnerships that
    address health
    concerns and
    improve quality of
    care for families,
    aggregates, and
    populations.

    Collaborate with preceptor to establish themes
    and patterns related to delays in treatment and
    knowledge deficits.

    Communicate with interventional cardiologists
    to establish a relationship and seek input
    regarding ways to streamline percutaneous
    interventions.

    2/16/23

    2/17/23

    3

    2

    ACTION PLAN AND PROPOSAL

    3

    SLO 15 Advocate
    for clients in a
    manner that
    preserves,
    protects, and
    promotes the
    autonomy, dignity,
    and rights of
    families,
    aggregates, and
    populations.

    Compile information gathered to establish an
    education plan to meet the needs of the
    selected population in a concise and
    understandable manner.

    Develop a PowerPoint presentation and
    additional resources for live implementation to
    best accommodate other modes of learning
    aside from auditory learning.

    2/18/23

    2/24/23

    4

    3

    SLO 9 Describe
    the impact of
    socio-cultural,
    economic, legal,
    and political
    factors in the
    accessibility,
    availability,
    acceptability, and
    delivery of public
    health services.

    Collaborate with preceptor to identify barriers
    to accessibility and availability of healthcare to
    all populations served by the clinical facility.
    Review plans to create products for live
    teaching session.

    Research data associated with federal funding
    through Medicare and Medicaid associate with
    meeting time goals regarding percutaneous
    intervention form onset of symptoms.

    2/22/23

    2/23/23

    3.5

    1.5

    Project Title and Description

    My Practice Enhancement Education Project (PEEP) is entitled “Increasing

    Intervention for Clients Experiencing a Heart Attack”. I plan to implement my practice

    enhancement education project on March 29 at Memorial Hospital. The Healthy People

    2030 objective that will be addressed with this project is to increase the proportion of

    eligible clients with heart attacks who receive percutaneous intervention (PCI) within 90

    minutes of hospital arrival. This is classified under the topic of heart disease and stroke

    (Office of Disease Prevention and Health Promotion, 2020).

    Heart disease is the number one cause of death among men and women (Botts,

    2021). Many people in the community suffer from a knowledge deficit regarding this

    ACTION PLAN AND PROPOSAL

    4

    information, as well as available treatment strategies and preventative measures. It is

    proven with regular check-ups and health screenings people live longer and have fewer

    health problems. Many people who grow up or live in underserved communities do not

    have access to very many options and due to lack of insurance, many people are

    unwilling or unable to see a doctor on a regular basis. This leads to more health

    problems and more ER visits (Betsy, 2018). Providing individuals with information

    regarding healthcare and scientific advancements in relation to heart disease will

    empower the community to take a more active role in prevention and will allow for more

    expedient treatment for those experiencing a heart attack, thus improving mortality and

    quality of life for the afflicted individual.

    Behavioral Objectives

    Behavioral objectives must be specific, measurable, attainable, relevant, and

    time bound. It is also important and more beneficial to allow the audience to learn in a

    multifaceted approach. Some learners do best with auditory learning, while some a

    visual learner, and still other retain more information as a tactile learner. Factoring in

    these variables will help ensure all the behavioral learning objectives are met. The

    selected topic is centered around decreasing time between the onset of heart attack

    symptoms and the percutaneous intervention in the Cath lab, but it would be wise to

    also include some preventative heart disease measures in the teaching as well, as the

    goal of this project is to better equip and empower the community. At the conclusion of

    the teaching at least 75% of the audience will be able to 1) identify signs and symptoms

    of a heart attack, 2) identify a heart healthy meal plan, 3) identify the advantages to

    ACTION PLAN AND PROPOSAL

    5

    expedient percutaneous intervention when experiencing a heart attack, and 4) identify

    high risk patterns for heart disease.

    Teaching Strategies

    As mentioned in a previous section, it is imperative to take into consideration not

    everyone learns the same. Given the diverse population that will be attending the

    education session, numerous modes of learning will be utilized. Lecture, discussion,

    visual aids, and a model of a heart will aid in the comprehension of the material for the

    participants. Having a broad and multifaceted approach will maximize the reach and

    depth of the information.

    Lecture will be used to provide facts and statistics to the learners about the

    incidence of heart disease and the importance to expedient percutaneous intervention.

    Many individuals learn best through hearing and being able to look an individual in the

    eye and tell first-hand stories of how client mortality and outcomes have been

    influenced by identifying the appropriate signs and symptoms of a myocardial infarction.

    Lecture is most effective when it is in short amounts of time, so a PowerPoint

    presentation will also be utilized to provide a visual aid as to what is being discussed.

    Many individuals who are not of a medical background and have no prior education in

    regard to the human anatomy may greatly benefit from seeing the percutaneous

    intervention animated on the screen. It is also helpful for some learners to see the

    information in addition to auditory learning. A replica of the human heart will also be

    available for the participants to be able to see the actual vessels that are stented during

    the percutaneous intervention. Being able to see and feel the model heart allows the

    learners to better comprehend and grasp what is actually being done. Usually, an

    ACTION PLAN AND PROPOSAL

    6

    incision is made either in the groin or the wrist in order to access the heart. Many people

    in the community may be confused as to how the vessels of the heart are accessed and

    it is believed that being able to see animations and have a tactile model to feel and hold

    is an incredible tool in allowing for more comprehension and better compliance.

    Heart disease is so prevalent in the United States that virtually every American is

    impacted either directly or indirectly. Having the participants briefly share experiences of

    how heart disease has impacted and changed families is profound and shocking.

    Allowing individuals, the opportunity to share these experiences allows everyone to see

    how common and tragic heart disease can be. Understanding the toll on a family and

    the stress felt by those around the client, is alarming and motivating to take the

    necessary steps to keep healthy.

    Outcome Evaluation

    The outcome evaluation is used to determine whether the desired behavioral

    objectives were met and to identify the strategies in use to measure said effectiveness.

    The most efficient and accurate way to make this determination would be to utilize a

    written test that will be administered at the conclusion of the teaching session. Multiple

    choice and select all that apply questions will be presented to the attendees. The first

    question will ask participants to select all the appropriate signs and symptoms of a heart

    attack from a list of options. There will also be a question that will ask the participants to

    select which meal plan is most appropriate for a heart healthy diet from the four options

    presented. The third question will be multiple choice and ask the participants to select

    which options best captures the benefits of early percutaneous intervention for an

    individual experiencing a heart attack. The final question will ask participants to select

    ACTION PLAN AND PROPOSAL

    7

    which risk factors are directly associated with an increased risk of heart disease and a

    potential heart attack. These questions will be administered immediately at the

    conclusion of the teaching and will capture the short-term retention of the information.

    Participants will also be asked to submit a valid email address and will be sent the same

    questions, with different answer choices to promote test fairness, to evaluate the long-

    term implications of the teaching.

    This strategy is effective and appropriate because it gets to the very core of the

    behavioral objectives which are centered around improving community knowledge and

    autonomy. Many individuals wait on a physician to tell them whether to go to the

    Emergency Room. Empowering and equipping individuals to know when to sound the

    alarm could be the difference in life and death. These questions test the participants

    ability to retain the most vital of the information in identifying heart disease and heart

    attack. Asking participants to include an email address allows the participants to feel as

    though they have a choice and will hopefully encourage them to participate in the follow-

    up survey. Also, having familiarity with the questions will help reduce errors from the

    participants when submitting the survey questionnaire.

    Teacher Performance Evaluation

    When participating in any type of activity or project it important to receive

    feedback, both positive and constructive. To analyze the teaching, participants will be

    given a separate document from the evaluation given to the attendees to test

    knowledge of material. This will be a separate quantitative assessment consisting of

    three multiple choice questions with the options: strongly agree, agree, neutral,

    disagree, strongly disagree. Participants will be asked to select one of those options for

    ACTION PLAN AND PROPOSAL

    8

    each question. Question 1 will ask participants how clearly and concise the information

    was presented. Question 2 will ask participants how easy the information was to

    understand. Question 3 will ask participants how impressed they were with the

    professionalism and interest of the presenter. There will also be a blank for participants

    to share any additional thoughts or feedback that they may have. These are appropriate

    questions and will help establish any trends or themes from the teaching. The presenter

    will review all the surveys with the preceptor and listen to any feedback both positive

    and constructive.

    Content Outline

    I. Introduction to Heart Disease

    A. What is heart disease?

    a. The term “heart disease” refers to several types of heart

    conditions. The most common type of heart disease in the

    United States is coronary artery disease (CAD), which affects

    the blood flow to the heart. Decreased blood flow can cause

    a heart attack (Botts, 2021).

    ACTION PLAN AND PROPOSAL

    9

    B. Healthy People 2030 goal of increasing the proportion of eligible clients

    with heart attacks who receive percutaneous intervention (PCI) within 90 minutes

    of hospital arrival (Office of Disease Prevention and Health Promotion, 2020).

    C. Who is affected by heart disease?

    a. Heart disease is the leading cause of death for men, women,

    and people of most racial and ethnic groups in the United States

    (Betsy, 2018).

    II. Introduction to Percutaneous Intervention

    A. What is percutaneous intervention?

    a. Percutaneous intervention is synonymous with cardiac

    catheterization, which is the insertion of a catheter tube and

    injection of contrast dye into your coronary arteries. Doctors use

    PCI to open coronary arteries that are narrowed or blocked by

    the buildup of atherosclerotic plaque. This intervention is used

    to relieve heart attack symptoms caused by coronary heart

    disease or to reduce heart damage during or after a heart attack

    (Keely et al., 2013).

    B. Why is 90 minutes important?

    a. 90 minutes is the gold standard for intervention in cardiology

    and evidence-based practice shows a significant improvement

    in outcomes when intervention is achieved in this window

    (Anderson et al., 2013).

    ACTION PLAN AND PROPOSAL

    10

    C. How do stents work in the heart?

    a. Stents work by being placed in a blockage using a guidewire

    and are then deployed by the cardiologist, thus reopening the

    blockage.

    III. How to Prevent Heart Disease

    A. Dash Diet

    a. The Dash Diet is a low sodium diet and is the diet of choice for

    those with hypertension and other cardiac disease (Botts,

    2021).

    B. Importance of Exercise

    a. Evidence-based practice reveals a reduction in risk of heart

    disease when exercising as little as 30 minutes a day for 3 times

    a week (Botts, 2021).

    C. Importance of Regular Check-ups

    a. Stress the importance of keeping appointments and having a

    yearly physical.

    IV. How Do I Implement Death by Heart Attack?

    A. Know the Signs and Symptoms

    a. Diabetes, Obesity, Hypertension, Physical Inactivity, and

    Alcohol Abuse are all risk factors (Botts, 2021).

    ACTION PLAN AND PROPOSAL

    11

    B. Do Not Delay Treatment

    a. Even a small delay in treatment can cause the 90-minute

    window to close, thus reducing a favorable outcome.

    C. Modify the Modifiable

    a. Most of the risk factors for heart disease are modifiable risk

    factors and an individual can greatly reduce the chance of an

    event by undergoing lifestyle modifications (Betsy, 2018).

    V. Questions

    VI. Outcome Evaluation Survey

    VII. Teacher Performance Evaluation

    ACTION PLAN AND PROPOSAL

    12

    References

    Andersen, H. R., Nielsen, T. T., Vesterlund, T., Grande, P., Abildgaard, U., Thayssen,

    P., Pedersen, F., Mortensen, L. S., & DANAMI-2 Investigators (2013). Danish

    multicenter randomized study on fibrinolytic therapy versus acute coronary

    angioplasty in acute myocardial infarction: rationale and design of the Danish trial

    in Acute Myocardial Infarction-2 (DANAMI-2). American heart journal, 146(2),

    234–241. https://doi.org/10.1016/S0002-8703(03)00316-8

    Betsy, S. (2018, October). Percutaneous coronary intervention. National Heart Lung

    and Blood Institute. https://www.nhlbi.nih.gov/health-topics/percutaneous-

    coronary-intervention.

    Botts, J. (2021, September 27). About heart disease. Centers for Disease Control and

    Prevention. https://www.cdc.gov/heartdisease/about.htm.

    Keeley, E. C., Boura, J. A., & Grines, C. L. (2013). Primary angioplasty versus

    intravenous thrombolytic therapy for acute myocardial infarction: a quantitative

    review of 23 randomized trials. Lancet (London, England), 361(9351), 13–20.

    https://doi.org/10.1016/S0140-6736(03)12113-7

    Office of Disease Prevention and Health Promotion. (2020). Social determinants of

    health. Healthy People 2030. U.S. Department of Health and Human Services.

    https://health.gov/healthypeople/objectives-and-data/social- determinants-health.

    **31525545PM.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/31525545pm-pdf)

    **31525545PM.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/31525545pm-pdf)

    **## PROPOSALAC.docx**

    *******This is an proposal of the project that I will implement** *****

    Title of your project. “Understanding the importance of early and adequate prenatal care.

    Planned date(s) of implementation.
    **March 24, 2025**

    The facility where you plan to conduct your PEEP live health teaching session.

    *****I planned to conduct my PEEP at Queen City Women’s Health**.

    **Healthy People 2030 topic and objective** being addressed by your PEEP

    **My Healthy People 2030 Objective: Increase the proportion of women who receives early and adequate prenatal care – MICH-08/

    **Who is your target population?** (Reminder: Direct care activities to clients which is defined as individuals, families, groups, communities, or populations)

    **How will your target population be impacted by your PEEP**.

    **Behavioral Objectives** (educational objectives)

    Minimum of four behavioral objectives, in SMART format, that will guide your teaching. Remember, these are brief statements identifying what you expect your audience to gain in knowledge, skill, or attitudes as a result of your live education. Each objective must be specific, measurable, attainable, realistic, and time-bound.

    **Teaching Strategies**

    What teaching strategies (methods, activities, and materials) will you utilize during your live education.

    A discussion of the pros and cons of each teaching strategy that you have chosen is required.

    **Note:** As part of Module 8 Clinical Experience Journal and Analysis assignment, you will be required to submit the teaching material(s) developed for your PEEP. This may be a PowerPoint developed to guide your teaching, a brochure for participants to take home, a photo of a poster/presentation board, a video, etc. Materials must be designed and created by the student. Should include the Healthy People 2030 topic and objective and your behavioral objectives. Include four required evidence based references cited in correct 7th edition APA. Don't forget in-text citations.

    **Outcome Evaluation**

    What evaluation strategies will you utilize in determining whether or not your audience met each behavioral objective.

    Consider a short-term and long-term evaluation plan

    What makes your chosen evaluation method most appropriate for your specific audience.

    **Teacher Performance Evaluation**

    Discuss the teacher performance evaluation strategies. How will you evaluate your own performance as a teacher.

    What makes your chosen teacher performance evaluation method most appropriate for your specific audience.

    **Content Outline**

    Content should be based on your four behavioral objectives.

    Detailed content outline of the information you plan to present during your live education.

    Include in text citations of the required four reference using correct 7th edition APA to earn credit.

    Approximately one page in length, may use a traditional outline, bullet points, or any other outline format you choose.

    **References**

    Adhere to 7th edition APA formatting when list the references you used to develop content for your live education. Include a minimum of four references:

    Two professional websites.

    Two evidence-based articles from peer reviewed scholarly journals

    This is an example to show you what an ideal assignment should look like. Do not copy this exemplar as this is considered plagiarism.

    **Don’t worry about doing the action plan. I have already done it.**

    **## EXEMPLARPEEPProposalandActionPlan5.pdf**

    ACTION PLAN AND PROPOSAL

    1

    Title of the paper

    Author's name

    Institutional affiliation

    A student paper should also include the course number and name, instructor name,

    and assignment due date

    ACTION PLAN AND PROPOSAL

    2

    Four Student
    Learning

    Outcomes for NU
    456

    Planned Actions to Achieve
    Student Learning Outcome

    Target
    Date(s)

    Estimated
    time

    (hours)

    SLO 1
    Demonstrate
    critical thinking
    through application
    of appropriate
    theories, research,
    ethical reasoning,
    and knowledge of
    the healthcare
    system to deliver
    safe quality care to
    families,
    aggregates, and
    populations.

    Research applicable and appropriate data in
    relation to the selected topic of percutaneous
    interventions related to cardiac events

    Collaborate with preceptor to identify ways the
    nursing process affects the timeline to
    percutaneous intervention and any potential
    side effects to delays in care. Establish if any
    nurse-driven practices could hasten the
    process.

    Research the populations served by Ascension
    St. Vincent’s East to identify the target
    audience of teaching and collaborate with
    preceptor to establish better knowledge of the
    healthcare system and identify any potential
    barriers to learning.

    2/12/23

    2/13/23

    2/14/23

    3

    2

    2

    SLO 7
    Demonstrate
    effective
    communication
    and collaboration
    with other
    healthcare team
    members/disciplin
    es, organizations,
    key stakeholders,
    and community
    members to foster
    partnerships that
    address health
    concerns and
    improve quality of
    care for families,
    aggregates, and
    populations.

    Collaborate with preceptor to establish themes
    and patterns related to delays in treatment and
    knowledge deficits.

    Communicate with interventional cardiologists
    to establish a relationship and seek input
    regarding ways to streamline percutaneous
    interventions.

    2/16/23

    2/17/23

    3

    2

    ACTION PLAN AND PROPOSAL

    3

    SLO 15 Advocate
    for clients in a
    manner that
    preserves,
    protects, and
    promotes the
    autonomy, dignity,
    and rights of
    families,
    aggregates, and
    populations.

    Compile information gathered to establish an
    education plan to meet the needs of the
    selected population in a concise and
    understandable manner.

    Develop a PowerPoint presentation and
    additional resources for live implementation to
    best accommodate other modes of learning
    aside from auditory learning.

    2/18/23

    2/24/23

    4

    3

    SLO 9 Describe
    the impact of
    socio-cultural,
    economic, legal,
    and political
    factors in the
    accessibility,
    availability,
    acceptability, and
    delivery of public
    health services.

    Collaborate with preceptor to identify barriers
    to accessibility and availability of healthcare to
    all populations served by the clinical facility.
    Review plans to create products for live
    teaching session.

    Research data associated with federal funding
    through Medicare and Medicaid associate with
    meeting time goals regarding percutaneous
    intervention form onset of symptoms.

    2/22/23

    2/23/23

    3.5

    1.5

    Project Title and Description

    My Practice Enhancement Education Project (PEEP) is entitled “Increasing

    Intervention for Clients Experiencing a Heart Attack”. I plan to implement my practice

    enhancement education project on March 29 at Memorial Hospital. The Healthy People

    2030 objective that will be addressed with this project is to increase the proportion of

    eligible clients with heart attacks who receive percutaneous intervention (PCI) within 90

    minutes of hospital arrival. This is classified under the topic of heart disease and stroke

    (Office of Disease Prevention and Health Promotion, 2020).

    Heart disease is the number one cause of death among men and women (Botts,

    2021). Many people in the community suffer from a knowledge deficit regarding this

    ACTION PLAN AND PROPOSAL

    4

    information, as well as available treatment strategies and preventative measures. It is

    proven with regular check-ups and health screenings people live longer and have fewer

    health problems. Many people who grow up or live in underserved communities do not

    have access to very many options and due to lack of insurance, many people are

    unwilling or unable to see a doctor on a regular basis. This leads to more health

    problems and more ER visits (Betsy, 2018). Providing individuals with information

    regarding healthcare and scientific advancements in relation to heart disease will

    empower the community to take a more active role in prevention and will allow for more

    expedient treatment for those experiencing a heart attack, thus improving mortality and

    quality of life for the afflicted individual.

    Behavioral Objectives

    Behavioral objectives must be specific, measurable, attainable, relevant, and

    time bound. It is also important and more beneficial to allow the audience to learn in a

    multifaceted approach. Some learners do best with auditory learning, while some a

    visual learner, and still other retain more information as a tactile learner. Factoring in

    these variables will help ensure all the behavioral learning objectives are met. The

    selected topic is centered around decreasing time between the onset of heart attack

    symptoms and the percutaneous intervention in the Cath lab, but it would be wise to

    also include some preventative heart disease measures in the teaching as well, as the

    goal of this project is to better equip and empower the community. At the conclusion of

    the teaching at least 75% of the audience will be able to 1) identify signs and symptoms

    of a heart attack, 2) identify a heart healthy meal plan, 3) identify the advantages to

    ACTION PLAN AND PROPOSAL

    5

    expedient percutaneous intervention when experiencing a heart attack, and 4) identify

    high risk patterns for heart disease.

    Teaching Strategies

    As mentioned in a previous section, it is imperative to take into consideration not

    everyone learns the same. Given the diverse population that will be attending the

    education session, numerous modes of learning will be utilized. Lecture, discussion,

    visual aids, and a model of a heart will aid in the comprehension of the material for the

    participants. Having a broad and multifaceted approach will maximize the reach and

    depth of the information.

    Lecture will be used to provide facts and statistics to the learners about the

    incidence of heart disease and the importance to expedient percutaneous intervention.

    Many individuals learn best through hearing and being able to look an individual in the

    eye and tell first-hand stories of how client mortality and outcomes have been

    influenced by identifying the appropriate signs and symptoms of a myocardial infarction.

    Lecture is most effective when it is in short amounts of time, so a PowerPoint

    presentation will also be utilized to provide a visual aid as to what is being discussed.

    Many individuals who are not of a medical background and have no prior education in

    regard to the human anatomy may greatly benefit from seeing the percutaneous

    intervention animated on the screen. It is also helpful for some learners to see the

    information in addition to auditory learning. A replica of the human heart will also be

    available for the participants to be able to see the actual vessels that are stented during

    the percutaneous intervention. Being able to see and feel the model heart allows the

    learners to better comprehend and grasp what is actually being done. Usually, an

    ACTION PLAN AND PROPOSAL

    6

    incision is made either in the groin or the wrist in order to access the heart. Many people

    in the community may be confused as to how the vessels of the heart are accessed and

    it is believed that being able to see animations and have a tactile model to feel and hold

    is an incredible tool in allowing for more comprehension and better compliance.

    Heart disease is so prevalent in the United States that virtually every American is

    impacted either directly or indirectly. Having the participants briefly share experiences of

    how heart disease has impacted and changed families is profound and shocking.

    Allowing individuals, the opportunity to share these experiences allows everyone to see

    how common and tragic heart disease can be. Understanding the toll on a family and

    the stress felt by those around the client, is alarming and motivating to take the

    necessary steps to keep healthy.

    Outcome Evaluation

    The outcome evaluation is used to determine whether the desired behavioral

    objectives were met and to identify the strategies in use to measure said effectiveness.

    The most efficient and accurate way to make this determination would be to utilize a

    written test that will be administered at the conclusion of the teaching session. Multiple

    choice and select all that apply questions will be presented to the attendees. The first

    question will ask participants to select all the appropriate signs and symptoms of a heart

    attack from a list of options. There will also be a question that will ask the participants to

    select which meal plan is most appropriate for a heart healthy diet from the four options

    presented. The third question will be multiple choice and ask the participants to select

    which options best captures the benefits of early percutaneous intervention for an

    individual experiencing a heart attack. The final question will ask participants to select

    ACTION PLAN AND PROPOSAL

    7

    which risk factors are directly associated with an increased risk of heart disease and a

    potential heart attack. These questions will be administered immediately at the

    conclusion of the teaching and will capture the short-term retention of the information.

    Participants will also be asked to submit a valid email address and will be sent the same

    questions, with different answer choices to promote test fairness, to evaluate the long-

    term implications of the teaching.

    This strategy is effective and appropriate because it gets to the very core of the

    behavioral objectives which are centered around improving community knowledge and

    autonomy. Many individuals wait on a physician to tell them whether to go to the

    Emergency Room. Empowering and equipping individuals to know when to sound the

    alarm could be the difference in life and death. These questions test the participants

    ability to retain the most vital of the information in identifying heart disease and heart

    attack. Asking participants to include an email address allows the participants to feel as

    though they have a choice and will hopefully encourage them to participate in the follow-

    up survey. Also, having familiarity with the questions will help reduce errors from the

    participants when submitting the survey questionnaire.

    Teacher Performance Evaluation

    When participating in any type of activity or project it important to receive

    feedback, both positive and constructive. To analyze the teaching, participants will be

    given a separate document from the evaluation given to the attendees to test

    knowledge of material. This will be a separate quantitative assessment consisting of

    three multiple choice questions with the options: strongly agree, agree, neutral,

    disagree, strongly disagree. Participants will be asked to select one of those options for

    ACTION PLAN AND PROPOSAL

    8

    each question. Question 1 will ask participants how clearly and concise the information

    was presented. Question 2 will ask participants how easy the information was to

    understand. Question 3 will ask participants how impressed they were with the

    professionalism and interest of the presenter. There will also be a blank for participants

    to share any additional thoughts or feedback that they may have. These are appropriate

    questions and will help establish any trends or themes from the teaching. The presenter

    will review all the surveys with the preceptor and listen to any feedback both positive

    and constructive.

    Content Outline

    I. Introduction to Heart Disease

    A. What is heart disease?

    a. The term “heart disease” refers to several types of heart

    conditions. The most common type of heart disease in the

    United States is coronary artery disease (CAD), which affects

    the blood flow to the heart. Decreased blood flow can cause

    a heart attack (Botts, 2021).

    ACTION PLAN AND PROPOSAL

    9

    B. Healthy People 2030 goal of increasing the proportion of eligible clients

    with heart attacks who receive percutaneous intervention (PCI) within 90 minutes

    of hospital arrival (Office of Disease Prevention and Health Promotion, 2020).

    C. Who is affected by heart disease?

    a. Heart disease is the leading cause of death for men, women,

    and people of most racial and ethnic groups in the United States

    (Betsy, 2018).

    II. Introduction to Percutaneous Intervention

    A. What is percutaneous intervention?

    a. Percutaneous intervention is synonymous with cardiac

    catheterization, which is the insertion of a catheter tube and

    injection of contrast dye into your coronary arteries. Doctors use

    PCI to open coronary arteries that are narrowed or blocked by

    the buildup of atherosclerotic plaque. This intervention is used

    to relieve heart attack symptoms caused by coronary heart

    disease or to reduce heart damage during or after a heart attack

    (Keely et al., 2013).

    B. Why is 90 minutes important?

    a. 90 minutes is the gold standard for intervention in cardiology

    and evidence-based practice shows a significant improvement

    in outcomes when intervention is achieved in this window

    (Anderson et al., 2013).

    ACTION PLAN AND PROPOSAL

    10

    C. How do stents work in the heart?

    a. Stents work by being placed in a blockage using a guidewire

    and are then deployed by the cardiologist, thus reopening the

    blockage.

    III. How to Prevent Heart Disease

    A. Dash Diet

    a. The Dash Diet is a low sodium diet and is the diet of choice for

    those with hypertension and other cardiac disease (Botts,

    2021).

    B. Importance of Exercise

    a. Evidence-based practice reveals a reduction in risk of heart

    disease when exercising as little as 30 minutes a day for 3 times

    a week (Botts, 2021).

    C. Importance of Regular Check-ups

    a. Stress the importance of keeping appointments and having a

    yearly physical.

    IV. How Do I Implement Death by Heart Attack?

    A. Know the Signs and Symptoms

    a. Diabetes, Obesity, Hypertension, Physical Inactivity, and

    Alcohol Abuse are all risk factors (Botts, 2021).

    ACTION PLAN AND PROPOSAL

    11

    B. Do Not Delay Treatment

    a. Even a small delay in treatment can cause the 90-minute

    window to close, thus reducing a favorable outcome.

    C. Modify the Modifiable

    a. Most of the risk factors for heart disease are modifiable risk

    factors and an individual can greatly reduce the chance of an

    event by undergoing lifestyle modifications (Betsy, 2018).

    V. Questions

    VI. Outcome Evaluation Survey

    VII. Teacher Performance Evaluation

    ACTION PLAN AND PROPOSAL

    12

    References

    Andersen, H. R., Nielsen, T. T., Vesterlund, T., Grande, P., Abildgaard, U., Thayssen,

    P., Pedersen, F., Mortensen, L. S., & DANAMI-2 Investigators (2013). Danish

    multicenter randomized study on fibrinolytic therapy versus acute coronary

    angioplasty in acute myocardial infarction: rationale and design of the Danish trial

    in Acute Myocardial Infarction-2 (DANAMI-2). American heart journal, 146(2),

    234–241. https://doi.org/10.1016/S0002-8703(03)00316-8

    Betsy, S. (2018, October). Percutaneous coronary intervention. National Heart Lung

    and Blood Institute. https://www.nhlbi.nih.gov/health-topics/percutaneous-

    coronary-intervention.

    Botts, J. (2021, September 27). About heart disease. Centers for Disease Control and

    Prevention. https://www.cdc.gov/heartdisease/about.htm.

    Keeley, E. C., Boura, J. A., & Grines, C. L. (2013). Primary angioplasty versus

    intravenous thrombolytic therapy for acute myocardial infarction: a quantitative

    review of 23 randomized trials. Lancet (London, England), 361(9351), 13–20.

    https://doi.org/10.1016/S0140-6736(03)12113-7

    Office of Disease Prevention and Health Promotion. (2020). Social determinants of

    health. Healthy People 2030. U.S. Department of Health and Human Services.

    https://health.gov/healthypeople/objectives-and-data/social- determinants-health.

    **31525545PM.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/31525545pm-pdf)

    **## PROPOSALAC.docx**

    *******This is an proposal of the project that I will implement** *****

    Title of your project. “Understanding the importance of early and adequate prenatal care.

    Planned date(s) of implementation.
    **March 24, 2025**

    The facility where you plan to conduct your PEEP live health teaching session.

    *****I planned to conduct my PEEP at Queen City Women’s Health**.

    **Healthy People 2030 topic and objective** being addressed by your PEEP

    **My Healthy People 2030 Objective: Increase the proportion of women who receives early and adequate prenatal care – MICH-08/

    **Who is your target population?** (Reminder: Direct care activities to clients which is defined as individuals, families, groups, communities, or populations)

    **How will your target population be impacted by your PEEP**.

    **Behavioral Objectives** (educational objectives)

    Minimum of four behavioral objectives, in SMART format, that will guide your teaching. Remember, these are brief statements identifying what you expect your audience to gain in knowledge, skill, or attitudes as a result of your live education. Each objective must be specific, measurable, attainable, realistic, and time-bound.

    **Teaching Strategies**

    What teaching strategies (methods, activities, and materials) will you utilize during your live education.

    A discussion of the pros and cons of each teaching strategy that you have chosen is required.

    **Note:** As part of Module 8 Clinical Experience Journal and Analysis assignment, you will be required to submit the teaching material(s) developed for your PEEP. This may be a PowerPoint developed to guide your teaching, a brochure for participants to take home, a photo of a poster/presentation board, a video, etc. Materials must be designed and created by the student. Should include the Healthy People 2030 topic and objective and your behavioral objectives. Include four required evidence based references cited in correct 7th edition APA. Don't forget in-text citations.

    **Outcome Evaluation**

    What evaluation strategies will you utilize in determining whether or not your audience met each behavioral objective.

    Consider a short-term and long-term evaluation plan

    What makes your chosen evaluation method most appropriate for your specific audience.

    **Teacher Performance Evaluation**

    Discuss the teacher performance evaluation strategies. How will you evaluate your own performance as a teacher.

    What makes your chosen teacher performance evaluation method most appropriate for your specific audience.

    **Content Outline**

    Content should be based on your four behavioral objectives.

    Detailed content outline of the information you plan to present during your live education.

    Include in text citations of the required four reference using correct 7th edition APA to earn credit.

    Approximately one page in length, may use a traditional outline, bullet points, or any other outline format you choose.

    **References**

    Adhere to 7th edition APA formatting when list the references you used to develop content for your live education. Include a minimum of four references:

    Two professional websites.

    Two evidence-based articles from peer reviewed scholarly journals

    This is an example to show you what an ideal assignment should look like. Do not copy this exemplar as this is considered plagiarism.

    **Don’t worry about doing the action plan. I have already done it.**

    **## EXEMPLARPEEPProposalandActionPlan5.pdf**

    ACTION PLAN AND PROPOSAL

    1

    Title of the paper

    Author's name

    Institutional affiliation

    A student paper should also include the course number and name, instructor name,

    and assignment due date

    ACTION PLAN AND PROPOSAL

    2

    Four Student
    Learning

    Outcomes for NU
    456

    Planned Actions to Achieve
    Student Learning Outcome

    Target
    Date(s)

    Estimated
    time

    (hours)

    SLO 1
    Demonstrate
    critical thinking
    through application
    of appropriate
    theories, research,
    ethical reasoning,
    and knowledge of
    the healthcare
    system to deliver
    safe quality care to
    families,
    aggregates, and
    populations.

    Research applicable and appropriate data in
    relation to the selected topic of percutaneous
    interventions related to cardiac events

    Collaborate with preceptor to identify ways the
    nursing process affects the timeline to
    percutaneous intervention and any potential
    side effects to delays in care. Establish if any
    nurse-driven practices could hasten the
    process.

    Research the populations served by Ascension
    St. Vincent’s East to identify the target
    audience of teaching and collaborate with
    preceptor to establish better knowledge of the
    healthcare system and identify any potential
    barriers to learning.

    2/12/23

    2/13/23

    2/14/23

    3

    2

    2

    SLO 7
    Demonstrate
    effective
    communication
    and collaboration
    with other
    healthcare team
    members/disciplin
    es, organizations,
    key stakeholders,
    and community
    members to foster
    partnerships that
    address health
    concerns and
    improve quality of
    care for families,
    aggregates, and
    populations.

    Collaborate with preceptor to establish themes
    and patterns related to delays in treatment and
    knowledge deficits.

    Communicate with interventional cardiologists
    to establish a relationship and seek input
    regarding ways to streamline percutaneous
    interventions.

    2/16/23

    2/17/23

    3

    2

    ACTION PLAN AND PROPOSAL

    3

    SLO 15 Advocate
    for clients in a
    manner that
    preserves,
    protects, and
    promotes the
    autonomy, dignity,
    and rights of
    families,
    aggregates, and
    populations.

    Compile information gathered to establish an
    education plan to meet the needs of the
    selected population in a concise and
    understandable manner.

    Develop a PowerPoint presentation and
    additional resources for live implementation to
    best accommodate other modes of learning
    aside from auditory learning.

    2/18/23

    2/24/23

    4

    3

    SLO 9 Describe
    the impact of
    socio-cultural,
    economic, legal,
    and political
    factors in the
    accessibility,
    availability,
    acceptability, and
    delivery of public
    health services.

    Collaborate with preceptor to identify barriers
    to accessibility and availability of healthcare to
    all populations served by the clinical facility.
    Review plans to create products for live
    teaching session.

    Research data associated with federal funding
    through Medicare and Medicaid associate with
    meeting time goals regarding percutaneous
    intervention form onset of symptoms.

    2/22/23

    2/23/23

    3.5

    1.5

    Project Title and Description

    My Practice Enhancement Education Project (PEEP) is entitled “Increasing

    Intervention for Clients Experiencing a Heart Attack”. I plan to implement my practice

    enhancement education project on March 29 at Memorial Hospital. The Healthy People

    2030 objective that will be addressed with this project is to increase the proportion of

    eligible clients with heart attacks who receive percutaneous intervention (PCI) within 90

    minutes of hospital arrival. This is classified under the topic of heart disease and stroke

    (Office of Disease Prevention and Health Promotion, 2020).

    Heart disease is the number one cause of death among men and women (Botts,

    2021). Many people in the community suffer from a knowledge deficit regarding this

    ACTION PLAN AND PROPOSAL

    4

    information, as well as available treatment strategies and preventative measures. It is

    proven with regular check-ups and health screenings people live longer and have fewer

    health problems. Many people who grow up or live in underserved communities do not

    have access to very many options and due to lack of insurance, many people are

    unwilling or unable to see a doctor on a regular basis. This leads to more health

    problems and more ER visits (Betsy, 2018). Providing individuals with information

    regarding healthcare and scientific advancements in relation to heart disease will

    empower the community to take a more active role in prevention and will allow for more

    expedient treatment for those experiencing a heart attack, thus improving mortality and

    quality of life for the afflicted individual.

    Behavioral Objectives

    Behavioral objectives must be specific, measurable, attainable, relevant, and

    time bound. It is also important and more beneficial to allow the audience to learn in a

    multifaceted approach. Some learners do best with auditory learning, while some a

    visual learner, and still other retain more information as a tactile learner. Factoring in

    these variables will help ensure all the behavioral learning objectives are met. The

    selected topic is centered around decreasing time between the onset of heart attack

    symptoms and the percutaneous intervention in the Cath lab, but it would be wise to

    also include some preventative heart disease measures in the teaching as well, as the

    goal of this project is to better equip and empower the community. At the conclusion of

    the teaching at least 75% of the audience will be able to 1) identify signs and symptoms

    of a heart attack, 2) identify a heart healthy meal plan, 3) identify the advantages to

    ACTION PLAN AND PROPOSAL

    5

    expedient percutaneous intervention when experiencing a heart attack, and 4) identify

    high risk patterns for heart disease.

    Teaching Strategies

    As mentioned in a previous section, it is imperative to take into consideration not

    everyone learns the same. Given the diverse population that will be attending the

    education session, numerous modes of learning will be utilized. Lecture, discussion,

    visual aids, and a model of a heart will aid in the comprehension of the material for the

    participants. Having a broad and multifaceted approach will maximize the reach and

    depth of the information.

    Lecture will be used to provide facts and statistics to the learners about the

    incidence of heart disease and the importance to expedient percutaneous intervention.

    Many individuals learn best through hearing and being able to look an individual in the

    eye and tell first-hand stories of how client mortality and outcomes have been

    influenced by identifying the appropriate signs and symptoms of a myocardial infarction.

    Lecture is most effective when it is in short amounts of time, so a PowerPoint

    presentation will also be utilized to provide a visual aid as to what is being discussed.

    Many individuals who are not of a medical background and have no prior education in

    regard to the human anatomy may greatly benefit from seeing the percutaneous

    intervention animated on the screen. It is also helpful for some learners to see the

    information in addition to auditory learning. A replica of the human heart will also be

    available for the participants to be able to see the actual vessels that are stented during

    the percutaneous intervention. Being able to see and feel the model heart allows the

    learners to better comprehend and grasp what is actually being done. Usually, an

    ACTION PLAN AND PROPOSAL

    6

    incision is made either in the groin or the wrist in order to access the heart. Many people

    in the community may be confused as to how the vessels of the heart are accessed and

    it is believed that being able to see animations and have a tactile model to feel and hold

    is an incredible tool in allowing for more comprehension and better compliance.

    Heart disease is so prevalent in the United States that virtually every American is

    impacted either directly or indirectly. Having the participants briefly share experiences of

    how heart disease has impacted and changed families is profound and shocking.

    Allowing individuals, the opportunity to share these experiences allows everyone to see

    how common and tragic heart disease can be. Understanding the toll on a family and

    the stress felt by those around the client, is alarming and motivating to take the

    necessary steps to keep healthy.

    Outcome Evaluation

    The outcome evaluation is used to determine whether the desired behavioral

    objectives were met and to identify the strategies in use to measure said effectiveness.

    The most efficient and accurate way to make this determination would be to utilize a

    written test that will be administered at the conclusion of the teaching session. Multiple

    choice and select all that apply questions will be presented to the attendees. The first

    question will ask participants to select all the appropriate signs and symptoms of a heart

    attack from a list of options. There will also be a question that will ask the participants to

    select which meal plan is most appropriate for a heart healthy diet from the four options

    presented. The third question will be multiple choice and ask the participants to select

    which options best captures the benefits of early percutaneous intervention for an

    individual experiencing a heart attack. The final question will ask participants to select

    ACTION PLAN AND PROPOSAL

    7

    which risk factors are directly associated with an increased risk of heart disease and a

    potential heart attack. These questions will be administered immediately at the

    conclusion of the teaching and will capture the short-term retention of the information.

    Participants will also be asked to submit a valid email address and will be sent the same

    questions, with different answer choices to promote test fairness, to evaluate the long-

    term implications of the teaching.

    This strategy is effective and appropriate because it gets to the very core of the

    behavioral objectives which are centered around improving community knowledge and

    autonomy. Many individuals wait on a physician to tell them whether to go to the

    Emergency Room. Empowering and equipping individuals to know when to sound the

    alarm could be the difference in life and death. These questions test the participants

    ability to retain the most vital of the information in identifying heart disease and heart

    attack. Asking participants to include an email address allows the participants to feel as

    though they have a choice and will hopefully encourage them to participate in the follow-

    up survey. Also, having familiarity with the questions will help reduce errors from the

    participants when submitting the survey questionnaire.

    Teacher Performance Evaluation

    When participating in any type of activity or project it important to receive

    feedback, both positive and constructive. To analyze the teaching, participants will be

    given a separate document from the evaluation given to the attendees to test

    knowledge of material. This will be a separate quantitative assessment consisting of

    three multiple choice questions with the options: strongly agree, agree, neutral,

    disagree, strongly disagree. Participants will be asked to select one of those options for

    ACTION PLAN AND PROPOSAL

    8

    each question. Question 1 will ask participants how clearly and concise the information

    was presented. Question 2 will ask participants how easy the information was to

    understand. Question 3 will ask participants how impressed they were with the

    professionalism and interest of the presenter. There will also be a blank for participants

    to share any additional thoughts or feedback that they may have. These are appropriate

    questions and will help establish any trends or themes from the teaching. The presenter

    will review all the surveys with the preceptor and listen to any feedback both positive

    and constructive.

    Content Outline

    I. Introduction to Heart Disease

    A. What is heart disease?

    a. The term “heart disease” refers to several types of heart

    conditions. The most common type of heart disease in the

    United States is coronary artery disease (CAD), which affects

    the blood flow to the heart. Decreased blood flow can cause

    a heart attack (Botts, 2021).

    ACTION PLAN AND PROPOSAL

    9

    B. Healthy People 2030 goal of increasing the proportion of eligible clients

    with heart attacks who receive percutaneous intervention (PCI) within 90 minutes

    of hospital arrival (Office of Disease Prevention and Health Promotion, 2020).

    C. Who is affected by heart disease?

    a. Heart disease is the leading cause of death for men, women,

    and people of most racial and ethnic groups in the United States

    (Betsy, 2018).

    II. Introduction to Percutaneous Intervention

    A. What is percutaneous intervention?

    a. Percutaneous intervention is synonymous with cardiac

    catheterization, which is the insertion of a catheter tube and

    injection of contrast dye into your coronary arteries. Doctors use

    PCI to open coronary arteries that are narrowed or blocked by

    the buildup of atherosclerotic plaque. This intervention is used

    to relieve heart attack symptoms caused by coronary heart

    disease or to reduce heart damage during or after a heart attack

    (Keely et al., 2013).

    B. Why is 90 minutes important?

    a. 90 minutes is the gold standard for intervention in cardiology

    and evidence-based practice shows a significant improvement

    in outcomes when intervention is achieved in this window

    (Anderson et al., 2013).

    ACTION PLAN AND PROPOSAL

    10

    C. How do stents work in the heart?

    a. Stents work by being placed in a blockage using a guidewire

    and are then deployed by the cardiologist, thus reopening the

    blockage.

    III. How to Prevent Heart Disease

    A. Dash Diet

    a. The Dash Diet is a low sodium diet and is the diet of choice for

    those with hypertension and other cardiac disease (Botts,

    2021).

    B. Importance of Exercise

    a. Evidence-based practice reveals a reduction in risk of heart

    disease when exercising as little as 30 minutes a day for 3 times

    a week (Botts, 2021).

    C. Importance of Regular Check-ups

    a. Stress the importance of keeping appointments and having a

    yearly physical.

    IV. How Do I Implement Death by Heart Attack?

    A. Know the Signs and Symptoms

    a. Diabetes, Obesity, Hypertension, Physical Inactivity, and

    Alcohol Abuse are all risk factors (Botts, 2021).

    ACTION PLAN AND PROPOSAL

    11

    B. Do Not Delay Treatment

    a. Even a small delay in treatment can cause the 90-minute

    window to close, thus reducing a favorable outcome.

    C. Modify the Modifiable

    a. Most of the risk factors for heart disease are modifiable risk

    factors and an individual can greatly reduce the chance of an

    event by undergoing lifestyle modifications (Betsy, 2018).

    V. Questions

    VI. Outcome Evaluation Survey

    VII. Teacher Performance Evaluation

    ACTION PLAN AND PROPOSAL

    12

    References

    Andersen, H. R., Nielsen, T. T., Vesterlund, T., Grande, P., Abildgaard, U., Thayssen,

    P., Pedersen, F., Mortensen, L. S., & DANAMI-2 Investigators (2013). Danish

    multicenter randomized study on fibrinolytic therapy versus acute coronary

    angioplasty in acute myocardial infarction: rationale and design of the Danish trial

    in Acute Myocardial Infarction-2 (DANAMI-2). American heart journal, 146(2),

    234–241. https://doi.org/10.1016/S0002-8703(03)00316-8

    Betsy, S. (2018, October). Percutaneous coronary intervention. National Heart Lung

    and Blood Institute. https://www.nhlbi.nih.gov/health-topics/percutaneous-

    coronary-intervention.

    Botts, J. (2021, September 27). About heart disease. Centers for Disease Control and

    Prevention. https://www.cdc.gov/heartdisease/about.htm.

    Keeley, E. C., Boura, J. A., & Grines, C. L. (2013). Primary angioplasty versus

    intravenous thrombolytic therapy for acute myocardial infarction: a quantitative

    review of 23 randomized trials. Lancet (London, England), 361(9351), 13–20.

    https://doi.org/10.1016/S0140-6736(03)12113-7

    Office of Disease Prevention and Health Promotion. (2020). Social determinants of

    health. Healthy People 2030. U.S. Department of Health and Human Services.

    https://health.gov/healthypeople/objectives-and-data/social- determinants-health.

    **31525545PM.pdf**

    This file is too large to display. [View in new window](https://www.sweetstudy.com/files/31525545pm-pdf)

  • [Solved] VIII

    ✓ Verified Academic Solution Available

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    [>Economics homework help](https://www.sweetstudy.com/fields/business-finance-economics) See attached – 2 years ago **files (2)** – ## FinalAssignmentVIII.docx – ## UnitVIIIStudyGuide.pdf **## FinalAssignmentVIII.docx** This assignment measures your mastery of CLOs 1, 2, 3, 4, 5, and 6 and ULOs 7.3 …

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    [>Economics homework help](https://www.sweetstudy.com/fields/business-finance-economics)

    See attached

    – 2 years ago

    **files (2)**

    – ## FinalAssignmentVIII.docx

    – ## UnitVIIIStudyGuide.pdf

    **## FinalAssignmentVIII.docx**

    This assignment measures your mastery of CLOs 1, 2, 3, 4, 5, and 6 and ULOs 7.3 and 7.4

    **A Case Analysis of AMC**

    **Assignment objective:** AMC is the largest movie theater operator in the world. AMC recently became a popular meme stock. Take a few minutes to learn more about
    [AMC Theaters](https://www.amctheatres.com/).

    **Length:** Your submission is required to be at least 5 pages in length and not more than 7 pages, not including the title page and references.

    **References:** A minimum of 3 peer-reviewed references are required, any additional resources used are required to be scholarly/academic in nature and found in the CSU Library. APA formatting is required to be used for citations and references. Use this definition to define the term in the instructions.

    **Definitions:** Scholarly journals are sometimes called academic journals. The terms are often used interchangeably to describe the same type of publication. These types of publications are published by universities, academic institutions, professional associations, and commercial enterprises and are compiled by scholars, academics, and other subject authorities.

    **Details:** In your paper, include the following:

    · Introduction

    · Analyze the market before the COVID-19 pandemic. Describe how the pandemic affected the movie theater industry.

    · Explain price discrimination in the movie theater market.

    · Movie theater employees are generally paid hourly. Design an incentive pay structure for AMC Theaters and explain how it would work.

    · Apply the concepts of economies of scale and economies of scope to AMC Theater's business model

    · Apply the concepts of game theory to short selling and meme stocks as it relates to AMC Theaters

    · Assess AMC Theater's potential for international expansion and potential trade policy issues.

    · Explain the asymmetric information issues that lead to short selling and meme stocks.

    · Apply the concepts of moral hazard to short selling and meme stocks, using AMC as an example.

    · Conclusion

    **## UnitVIIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VIII

    At the end of this unit, you should be able to:

    1. Evaluate the ethical outcomes of free market outcomes using supply and demand models.

    2. Apply the different types of elasticity concepts to business scenarios.

    3. Analyze how price and output influence profit maximization under different market structures.

    4. Evaluate strategic pricing decisions.

    5. Apply game theory to pricing and to output decisions in an oligopoly market.

    6. Analyze the basis of trade.

    7. Explain the implications of uncertainty in managerial decision-making.
    7.4 Explain how incentives can affect various relationships in an organization.

    Required Unit Resources

    Chapter 4: Extent (How Much) Decisions (ULO 7.4)

    Chapter 21: Getting Employees to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 22: Getting Divisions to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 23: Managing Vertical Relationships (ULO 7.4)

    Unit Lesson

    Lesson: Organizational Design and Incentives (ULO 7.4)
    This lesson covers the topics introduced in this final unit.

    The last unit’s topic on asymmetric information included a section on shirking. Recall that shirking is when
    employees do not work hard because the managers are not able to monitor their performance (either because
    of ability or cost). Another way to look at the problem of shirking is through the principal-agent problem. In the
    principal-agent problem, the principal (typically a business owner) wants their agent (typically the employee)
    to act on the principal’s behalf. The problem is that the agent often has different goals than the principal.

    Incentives

    Incentives are one way to correct shirking and solve the principal-agent problem. Incentives can be tied
    directly to performance, such as commissions, as discussed in the last unit. Incentives can also be tied to
    specific actions or the overall performance of the company. Basing incentives on company performance can
    be dicey though. There are many factors outside the employees’ control that affect company performance.
    The less tied incentives are to employee performance, the less likely the incentives will be to promote the
    desired performance. Still, tying incentives to company performance does help align the goals of the principal
    and the agent.

    UNIT VIII STUDY GUIDE
    Organizational Design and Incentives

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    As mentioned, employees may not have a lot of control over company performance, which can complicate
    attempts to align principal and agent goals. This can be because of large outside influences (demand for the
    product) or because of the nature of the job agents have. Perhaps agents have the information to promote the
    principal’s goals but lack the decision-making authority to realize them. In cases like this, it is important for
    principals to align decision-making power with those who have information.

    One model for aligning goals and addressing the principal-agent problem is the franchise model. In a
    franchise model, a parent company, or brand, franchises out the opportunity to open additional stores under
    the brand name for a percentage of sales. If a brand opened company-owned stores, they would have to rely
    on managers who may not be as motivated, or the job may attract unmotivated managers (recall the different
    explanation for similar problems with moral hazard and adverse selection). With a franchise model, however,
    the individual franchise owner is motivated to make the franchise a success, since that determines the profit.

    When companies grow, they are often divided into different divisions. Incentives can be tricky in ensuring the
    divisions are working toward the same goal. If the incentives are not structured correctly, the divisions may
    make decisions that are best for the division but not best for the company.

    Take for example a college admissions department and an academic department. The academic department
    might be interested in producing quality graduates that will earn the school a good reputation. The academic
    department can help realize those goals with stricter admissions standards. The admissions department,
    however, might be interested in reducing admissions standards in order to admit as many people as possible
    (or at least enough to meet departmental goals). Stricter admissions standards get in the way of admissions.
    Having too many, low quality students in a program can detract from the attention focused to turn the higher
    quality students into reputable graduates who will help build the department’s reputation. Sharing information
    and aligning the goals of the departments is key to getting both departments to act in the interest of the school
    as a whole.

    Sometimes there are exchanges between divisions in an organization. Tracking this and crediting each
    division is important. Transfer pricing is the price of an intermediate good, made in-house, and then “sold” to
    another division. Transfer pricing might be thought of most easily with manufacturing. When making a car, the
    engine is built and then put into the frame. Since it is just the car that is ultimately sold at a price, crediting the
    division that built the engine can be difficult. Obviously, the car would not be much good without the engine.
    Determining the price for the engine, however, is difficult and often controversial between the divisions. The
    engine division will want to be credited with a high price for the engine, but the division that built the frame will
    want to “pay” a low price for the engine. Each division wants to appear as profitable as possible. Giving one
    division an unfair price could hurt morale, and thus productivity, in that division. That would, obviously, hurt
    the company overall.

    Transfer pricing issues can be addressed by treating different divisions as profit centers or cost centers. Profit
    centers are evaluated based on profit or revenue. Cost centers are evaluated based on costs. Using these
    different centers and different goals, as long as the divisions are aligned to the proper center, their goals will
    align with helping the overall organization be more successful.

    Organizations can be ordered based on a variety of plans. Organizations might be organized by function,
    such as production and sales. Organizations can also be organized by products or by geographic region. The
    best organizational structure will depend on the type of firm and how they approach the market.

    Vertical Relationships

    Firms can also find profit potential by expanding operations vertically through their supply chain. This strategy
    is known as a vertical relationship. For a simple example of this, consider a landlord, particularly one
    constrained by rent control laws. The landlord may find him- or herself constrained in what he or she can
    charge for rent. There are other services, however, that can be provided to tenants beyond just the living
    space. A landlord might, for example, furnish the apartment for an extra fee. Firms can even use exclusions,
    forcing buyers to purchase their additional product or service rather than purchasing from a competitor. A
    similar approach is taken with movie theaters or ballparks who sell the tickets to the event and then also
    require that if customers want to enjoy refreshments, they must do so at the concession stands operated by
    the event.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Vertical relationships can also be used to manipulate realized profit. A firm may produce an early stage of a
    product in a high tax area but transfer the production to another location with lower taxes for finalization. The
    transfer can be done at a low price so that the high tax production does not produce much profit and then the
    product is sold by the low tax production area with a higher profit realized thanks to the low transfer/purchase
    price. The reverse can also be done where firms build in profit all along the production pipeline. This is known
    as double marginalization. Of course, if the markups are too much then the price of the product in the market
    will be too high.

    Sometimes the incentives between links in the supply chain, for example between manufacturers and
    retailers, come into conflict. Manufacturers might have an incentive to have the quality of their product
    maintained and displayed but the retailer many not have quite the same concern. Have you ever been in a
    store that sells high quality stereos and speakers? You might notice a special room set up to listen to the
    speakers. This is by the design of the stereo and speaker producer, not necessarily the store. The purpose is
    to provide an environment where you can really hear the quality of the higher priced stereos and speakers. In
    exchange for providing the fancy displays, the manufacturers put minimum prices on their products wherever
    they are sold. The purpose of these minimum prices is to prevent the fancy store from spending money on the
    display only to have consumers come in, listen to the stereos and speakers, decide what they want, and go to
    Walmart to buy it for a cheaper price.

    Similarly, you generally will not see retailers engage in too much advertising. Advertising is mostly handled by
    the producers of the product. A retailer advertising for a particular good may end up convincing consumers to
    buy the product but not necessarily from their location.

    Too much in the way of vertical relationships, however, can raise antitrust concerns. Strong vertical
    relationships can have a negative effect on market competition, so many countries have antitrust laws
    governing vertical relationships. In Europe, for example, Coke is prohibited from purchasing refrigerators in
    their retail locations. The fear is that Coke owning the refrigerators will lead to the exclusion of other soft drink
    producers being able to provide their product cold and ready to drink. So, vertical relationships can come with
    much potential for firms, but they can also come with risks firms should be aware of before pursuing them.

    A final word on vertical relationships—vertical relationships can be pursued through mergers. Simply merging
    with another organization in a business’s supply chain does not always work out. In a free market, where
    buyers and sellers are rational and have full information, the sellers would only accept a price equal to the
    discounted stream of future profits. That means, all else equal, the best the purchasing firm could expect to
    do is break even on the purchase. The potential for the merger to work out is based on some type of synergy
    to be realized that makes the purchased company/asset more valuable for being part of the purchasing
    company. Perhaps the smaller company will benefit from a larger distribution system already in place with the
    purchasing company.

    Suggested Unit Resources

    Article: An Evaluation of Alternative Market-Based Transfer Prices (Optional)
    This article further explores the topics covered in this unit.

    **## UnitVIIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VIII

    At the end of this unit, you should be able to:

    1. Evaluate the ethical outcomes of free market outcomes using supply and demand models.

    2. Apply the different types of elasticity concepts to business scenarios.

    3. Analyze how price and output influence profit maximization under different market structures.

    4. Evaluate strategic pricing decisions.

    5. Apply game theory to pricing and to output decisions in an oligopoly market.

    6. Analyze the basis of trade.

    7. Explain the implications of uncertainty in managerial decision-making.
    7.4 Explain how incentives can affect various relationships in an organization.

    Required Unit Resources

    Chapter 4: Extent (How Much) Decisions (ULO 7.4)

    Chapter 21: Getting Employees to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 22: Getting Divisions to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 23: Managing Vertical Relationships (ULO 7.4)

    Unit Lesson

    Lesson: Organizational Design and Incentives (ULO 7.4)
    This lesson covers the topics introduced in this final unit.

    The last unit’s topic on asymmetric information included a section on shirking. Recall that shirking is when
    employees do not work hard because the managers are not able to monitor their performance (either because
    of ability or cost). Another way to look at the problem of shirking is through the principal-agent problem. In the
    principal-agent problem, the principal (typically a business owner) wants their agent (typically the employee)
    to act on the principal’s behalf. The problem is that the agent often has different goals than the principal.

    Incentives

    Incentives are one way to correct shirking and solve the principal-agent problem. Incentives can be tied
    directly to performance, such as commissions, as discussed in the last unit. Incentives can also be tied to
    specific actions or the overall performance of the company. Basing incentives on company performance can
    be dicey though. There are many factors outside the employees’ control that affect company performance.
    The less tied incentives are to employee performance, the less likely the incentives will be to promote the
    desired performance. Still, tying incentives to company performance does help align the goals of the principal
    and the agent.

    UNIT VIII STUDY GUIDE
    Organizational Design and Incentives

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    As mentioned, employees may not have a lot of control over company performance, which can complicate
    attempts to align principal and agent goals. This can be because of large outside influences (demand for the
    product) or because of the nature of the job agents have. Perhaps agents have the information to promote the
    principal’s goals but lack the decision-making authority to realize them. In cases like this, it is important for
    principals to align decision-making power with those who have information.

    One model for aligning goals and addressing the principal-agent problem is the franchise model. In a
    franchise model, a parent company, or brand, franchises out the opportunity to open additional stores under
    the brand name for a percentage of sales. If a brand opened company-owned stores, they would have to rely
    on managers who may not be as motivated, or the job may attract unmotivated managers (recall the different
    explanation for similar problems with moral hazard and adverse selection). With a franchise model, however,
    the individual franchise owner is motivated to make the franchise a success, since that determines the profit.

    When companies grow, they are often divided into different divisions. Incentives can be tricky in ensuring the
    divisions are working toward the same goal. If the incentives are not structured correctly, the divisions may
    make decisions that are best for the division but not best for the company.

    Take for example a college admissions department and an academic department. The academic department
    might be interested in producing quality graduates that will earn the school a good reputation. The academic
    department can help realize those goals with stricter admissions standards. The admissions department,
    however, might be interested in reducing admissions standards in order to admit as many people as possible
    (or at least enough to meet departmental goals). Stricter admissions standards get in the way of admissions.
    Having too many, low quality students in a program can detract from the attention focused to turn the higher
    quality students into reputable graduates who will help build the department’s reputation. Sharing information
    and aligning the goals of the departments is key to getting both departments to act in the interest of the school
    as a whole.

    Sometimes there are exchanges between divisions in an organization. Tracking this and crediting each
    division is important. Transfer pricing is the price of an intermediate good, made in-house, and then “sold” to
    another division. Transfer pricing might be thought of most easily with manufacturing. When making a car, the
    engine is built and then put into the frame. Since it is just the car that is ultimately sold at a price, crediting the
    division that built the engine can be difficult. Obviously, the car would not be much good without the engine.
    Determining the price for the engine, however, is difficult and often controversial between the divisions. The
    engine division will want to be credited with a high price for the engine, but the division that built the frame will
    want to “pay” a low price for the engine. Each division wants to appear as profitable as possible. Giving one
    division an unfair price could hurt morale, and thus productivity, in that division. That would, obviously, hurt
    the company overall.

    Transfer pricing issues can be addressed by treating different divisions as profit centers or cost centers. Profit
    centers are evaluated based on profit or revenue. Cost centers are evaluated based on costs. Using these
    different centers and different goals, as long as the divisions are aligned to the proper center, their goals will
    align with helping the overall organization be more successful.

    Organizations can be ordered based on a variety of plans. Organizations might be organized by function,
    such as production and sales. Organizations can also be organized by products or by geographic region. The
    best organizational structure will depend on the type of firm and how they approach the market.

    Vertical Relationships

    Firms can also find profit potential by expanding operations vertically through their supply chain. This strategy
    is known as a vertical relationship. For a simple example of this, consider a landlord, particularly one
    constrained by rent control laws. The landlord may find him- or herself constrained in what he or she can
    charge for rent. There are other services, however, that can be provided to tenants beyond just the living
    space. A landlord might, for example, furnish the apartment for an extra fee. Firms can even use exclusions,
    forcing buyers to purchase their additional product or service rather than purchasing from a competitor. A
    similar approach is taken with movie theaters or ballparks who sell the tickets to the event and then also
    require that if customers want to enjoy refreshments, they must do so at the concession stands operated by
    the event.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Vertical relationships can also be used to manipulate realized profit. A firm may produce an early stage of a
    product in a high tax area but transfer the production to another location with lower taxes for finalization. The
    transfer can be done at a low price so that the high tax production does not produce much profit and then the
    product is sold by the low tax production area with a higher profit realized thanks to the low transfer/purchase
    price. The reverse can also be done where firms build in profit all along the production pipeline. This is known
    as double marginalization. Of course, if the markups are too much then the price of the product in the market
    will be too high.

    Sometimes the incentives between links in the supply chain, for example between manufacturers and
    retailers, come into conflict. Manufacturers might have an incentive to have the quality of their product
    maintained and displayed but the retailer many not have quite the same concern. Have you ever been in a
    store that sells high quality stereos and speakers? You might notice a special room set up to listen to the
    speakers. This is by the design of the stereo and speaker producer, not necessarily the store. The purpose is
    to provide an environment where you can really hear the quality of the higher priced stereos and speakers. In
    exchange for providing the fancy displays, the manufacturers put minimum prices on their products wherever
    they are sold. The purpose of these minimum prices is to prevent the fancy store from spending money on the
    display only to have consumers come in, listen to the stereos and speakers, decide what they want, and go to
    Walmart to buy it for a cheaper price.

    Similarly, you generally will not see retailers engage in too much advertising. Advertising is mostly handled by
    the producers of the product. A retailer advertising for a particular good may end up convincing consumers to
    buy the product but not necessarily from their location.

    Too much in the way of vertical relationships, however, can raise antitrust concerns. Strong vertical
    relationships can have a negative effect on market competition, so many countries have antitrust laws
    governing vertical relationships. In Europe, for example, Coke is prohibited from purchasing refrigerators in
    their retail locations. The fear is that Coke owning the refrigerators will lead to the exclusion of other soft drink
    producers being able to provide their product cold and ready to drink. So, vertical relationships can come with
    much potential for firms, but they can also come with risks firms should be aware of before pursuing them.

    A final word on vertical relationships—vertical relationships can be pursued through mergers. Simply merging
    with another organization in a business’s supply chain does not always work out. In a free market, where
    buyers and sellers are rational and have full information, the sellers would only accept a price equal to the
    discounted stream of future profits. That means, all else equal, the best the purchasing firm could expect to
    do is break even on the purchase. The potential for the merger to work out is based on some type of synergy
    to be realized that makes the purchased company/asset more valuable for being part of the purchasing
    company. Perhaps the smaller company will benefit from a larger distribution system already in place with the
    purchasing company.

    Suggested Unit Resources

    Article: An Evaluation of Alternative Market-Based Transfer Prices (Optional)
    This article further explores the topics covered in this unit.

    **## FinalAssignmentVIII.docx**

    This assignment measures your mastery of CLOs 1, 2, 3, 4, 5, and 6 and ULOs 7.3 and 7.4

    **A Case Analysis of AMC**

    **Assignment objective:** AMC is the largest movie theater operator in the world. AMC recently became a popular meme stock. Take a few minutes to learn more about
    [AMC Theaters](https://www.amctheatres.com/).

    **Length:** Your submission is required to be at least 5 pages in length and not more than 7 pages, not including the title page and references.

    **References:** A minimum of 3 peer-reviewed references are required, any additional resources used are required to be scholarly/academic in nature and found in the CSU Library. APA formatting is required to be used for citations and references. Use this definition to define the term in the instructions.

    **Definitions:** Scholarly journals are sometimes called academic journals. The terms are often used interchangeably to describe the same type of publication. These types of publications are published by universities, academic institutions, professional associations, and commercial enterprises and are compiled by scholars, academics, and other subject authorities.

    **Details:** In your paper, include the following:

    · Introduction

    · Analyze the market before the COVID-19 pandemic. Describe how the pandemic affected the movie theater industry.

    · Explain price discrimination in the movie theater market.

    · Movie theater employees are generally paid hourly. Design an incentive pay structure for AMC Theaters and explain how it would work.

    · Apply the concepts of economies of scale and economies of scope to AMC Theater's business model

    · Apply the concepts of game theory to short selling and meme stocks as it relates to AMC Theaters

    · Assess AMC Theater's potential for international expansion and potential trade policy issues.

    · Explain the asymmetric information issues that lead to short selling and meme stocks.

    · Apply the concepts of moral hazard to short selling and meme stocks, using AMC as an example.

    · Conclusion

    **## UnitVIIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VIII

    At the end of this unit, you should be able to:

    1. Evaluate the ethical outcomes of free market outcomes using supply and demand models.

    2. Apply the different types of elasticity concepts to business scenarios.

    3. Analyze how price and output influence profit maximization under different market structures.

    4. Evaluate strategic pricing decisions.

    5. Apply game theory to pricing and to output decisions in an oligopoly market.

    6. Analyze the basis of trade.

    7. Explain the implications of uncertainty in managerial decision-making.
    7.4 Explain how incentives can affect various relationships in an organization.

    Required Unit Resources

    Chapter 4: Extent (How Much) Decisions (ULO 7.4)

    Chapter 21: Getting Employees to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 22: Getting Divisions to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 23: Managing Vertical Relationships (ULO 7.4)

    Unit Lesson

    Lesson: Organizational Design and Incentives (ULO 7.4)
    This lesson covers the topics introduced in this final unit.

    The last unit’s topic on asymmetric information included a section on shirking. Recall that shirking is when
    employees do not work hard because the managers are not able to monitor their performance (either because
    of ability or cost). Another way to look at the problem of shirking is through the principal-agent problem. In the
    principal-agent problem, the principal (typically a business owner) wants their agent (typically the employee)
    to act on the principal’s behalf. The problem is that the agent often has different goals than the principal.

    Incentives

    Incentives are one way to correct shirking and solve the principal-agent problem. Incentives can be tied
    directly to performance, such as commissions, as discussed in the last unit. Incentives can also be tied to
    specific actions or the overall performance of the company. Basing incentives on company performance can
    be dicey though. There are many factors outside the employees’ control that affect company performance.
    The less tied incentives are to employee performance, the less likely the incentives will be to promote the
    desired performance. Still, tying incentives to company performance does help align the goals of the principal
    and the agent.

    UNIT VIII STUDY GUIDE
    Organizational Design and Incentives

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    As mentioned, employees may not have a lot of control over company performance, which can complicate
    attempts to align principal and agent goals. This can be because of large outside influences (demand for the
    product) or because of the nature of the job agents have. Perhaps agents have the information to promote the
    principal’s goals but lack the decision-making authority to realize them. In cases like this, it is important for
    principals to align decision-making power with those who have information.

    One model for aligning goals and addressing the principal-agent problem is the franchise model. In a
    franchise model, a parent company, or brand, franchises out the opportunity to open additional stores under
    the brand name for a percentage of sales. If a brand opened company-owned stores, they would have to rely
    on managers who may not be as motivated, or the job may attract unmotivated managers (recall the different
    explanation for similar problems with moral hazard and adverse selection). With a franchise model, however,
    the individual franchise owner is motivated to make the franchise a success, since that determines the profit.

    When companies grow, they are often divided into different divisions. Incentives can be tricky in ensuring the
    divisions are working toward the same goal. If the incentives are not structured correctly, the divisions may
    make decisions that are best for the division but not best for the company.

    Take for example a college admissions department and an academic department. The academic department
    might be interested in producing quality graduates that will earn the school a good reputation. The academic
    department can help realize those goals with stricter admissions standards. The admissions department,
    however, might be interested in reducing admissions standards in order to admit as many people as possible
    (or at least enough to meet departmental goals). Stricter admissions standards get in the way of admissions.
    Having too many, low quality students in a program can detract from the attention focused to turn the higher
    quality students into reputable graduates who will help build the department’s reputation. Sharing information
    and aligning the goals of the departments is key to getting both departments to act in the interest of the school
    as a whole.

    Sometimes there are exchanges between divisions in an organization. Tracking this and crediting each
    division is important. Transfer pricing is the price of an intermediate good, made in-house, and then “sold” to
    another division. Transfer pricing might be thought of most easily with manufacturing. When making a car, the
    engine is built and then put into the frame. Since it is just the car that is ultimately sold at a price, crediting the
    division that built the engine can be difficult. Obviously, the car would not be much good without the engine.
    Determining the price for the engine, however, is difficult and often controversial between the divisions. The
    engine division will want to be credited with a high price for the engine, but the division that built the frame will
    want to “pay” a low price for the engine. Each division wants to appear as profitable as possible. Giving one
    division an unfair price could hurt morale, and thus productivity, in that division. That would, obviously, hurt
    the company overall.

    Transfer pricing issues can be addressed by treating different divisions as profit centers or cost centers. Profit
    centers are evaluated based on profit or revenue. Cost centers are evaluated based on costs. Using these
    different centers and different goals, as long as the divisions are aligned to the proper center, their goals will
    align with helping the overall organization be more successful.

    Organizations can be ordered based on a variety of plans. Organizations might be organized by function,
    such as production and sales. Organizations can also be organized by products or by geographic region. The
    best organizational structure will depend on the type of firm and how they approach the market.

    Vertical Relationships

    Firms can also find profit potential by expanding operations vertically through their supply chain. This strategy
    is known as a vertical relationship. For a simple example of this, consider a landlord, particularly one
    constrained by rent control laws. The landlord may find him- or herself constrained in what he or she can
    charge for rent. There are other services, however, that can be provided to tenants beyond just the living
    space. A landlord might, for example, furnish the apartment for an extra fee. Firms can even use exclusions,
    forcing buyers to purchase their additional product or service rather than purchasing from a competitor. A
    similar approach is taken with movie theaters or ballparks who sell the tickets to the event and then also
    require that if customers want to enjoy refreshments, they must do so at the concession stands operated by
    the event.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Vertical relationships can also be used to manipulate realized profit. A firm may produce an early stage of a
    product in a high tax area but transfer the production to another location with lower taxes for finalization. The
    transfer can be done at a low price so that the high tax production does not produce much profit and then the
    product is sold by the low tax production area with a higher profit realized thanks to the low transfer/purchase
    price. The reverse can also be done where firms build in profit all along the production pipeline. This is known
    as double marginalization. Of course, if the markups are too much then the price of the product in the market
    will be too high.

    Sometimes the incentives between links in the supply chain, for example between manufacturers and
    retailers, come into conflict. Manufacturers might have an incentive to have the quality of their product
    maintained and displayed but the retailer many not have quite the same concern. Have you ever been in a
    store that sells high quality stereos and speakers? You might notice a special room set up to listen to the
    speakers. This is by the design of the stereo and speaker producer, not necessarily the store. The purpose is
    to provide an environment where you can really hear the quality of the higher priced stereos and speakers. In
    exchange for providing the fancy displays, the manufacturers put minimum prices on their products wherever
    they are sold. The purpose of these minimum prices is to prevent the fancy store from spending money on the
    display only to have consumers come in, listen to the stereos and speakers, decide what they want, and go to
    Walmart to buy it for a cheaper price.

    Similarly, you generally will not see retailers engage in too much advertising. Advertising is mostly handled by
    the producers of the product. A retailer advertising for a particular good may end up convincing consumers to
    buy the product but not necessarily from their location.

    Too much in the way of vertical relationships, however, can raise antitrust concerns. Strong vertical
    relationships can have a negative effect on market competition, so many countries have antitrust laws
    governing vertical relationships. In Europe, for example, Coke is prohibited from purchasing refrigerators in
    their retail locations. The fear is that Coke owning the refrigerators will lead to the exclusion of other soft drink
    producers being able to provide their product cold and ready to drink. So, vertical relationships can come with
    much potential for firms, but they can also come with risks firms should be aware of before pursuing them.

    A final word on vertical relationships—vertical relationships can be pursued through mergers. Simply merging
    with another organization in a business’s supply chain does not always work out. In a free market, where
    buyers and sellers are rational and have full information, the sellers would only accept a price equal to the
    discounted stream of future profits. That means, all else equal, the best the purchasing firm could expect to
    do is break even on the purchase. The potential for the merger to work out is based on some type of synergy
    to be realized that makes the purchased company/asset more valuable for being part of the purchasing
    company. Perhaps the smaller company will benefit from a larger distribution system already in place with the
    purchasing company.

    Suggested Unit Resources

    Article: An Evaluation of Alternative Market-Based Transfer Prices (Optional)
    This article further explores the topics covered in this unit.

    **## FinalAssignmentVIII.docx**

    This assignment measures your mastery of CLOs 1, 2, 3, 4, 5, and 6 and ULOs 7.3 and 7.4

    **A Case Analysis of AMC**

    **Assignment objective:** AMC is the largest movie theater operator in the world. AMC recently became a popular meme stock. Take a few minutes to learn more about
    [AMC Theaters](https://www.amctheatres.com/).

    **Length:** Your submission is required to be at least 5 pages in length and not more than 7 pages, not including the title page and references.

    **References:** A minimum of 3 peer-reviewed references are required, any additional resources used are required to be scholarly/academic in nature and found in the CSU Library. APA formatting is required to be used for citations and references. Use this definition to define the term in the instructions.

    **Definitions:** Scholarly journals are sometimes called academic journals. The terms are often used interchangeably to describe the same type of publication. These types of publications are published by universities, academic institutions, professional associations, and commercial enterprises and are compiled by scholars, academics, and other subject authorities.

    **Details:** In your paper, include the following:

    · Introduction

    · Analyze the market before the COVID-19 pandemic. Describe how the pandemic affected the movie theater industry.

    · Explain price discrimination in the movie theater market.

    · Movie theater employees are generally paid hourly. Design an incentive pay structure for AMC Theaters and explain how it would work.

    · Apply the concepts of economies of scale and economies of scope to AMC Theater's business model

    · Apply the concepts of game theory to short selling and meme stocks as it relates to AMC Theaters

    · Assess AMC Theater's potential for international expansion and potential trade policy issues.

    · Explain the asymmetric information issues that lead to short selling and meme stocks.

    · Apply the concepts of moral hazard to short selling and meme stocks, using AMC as an example.

    · Conclusion

    **## UnitVIIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VIII

    At the end of this unit, you should be able to:

    1. Evaluate the ethical outcomes of free market outcomes using supply and demand models.

    2. Apply the different types of elasticity concepts to business scenarios.

    3. Analyze how price and output influence profit maximization under different market structures.

    4. Evaluate strategic pricing decisions.

    5. Apply game theory to pricing and to output decisions in an oligopoly market.

    6. Analyze the basis of trade.

    7. Explain the implications of uncertainty in managerial decision-making.
    7.4 Explain how incentives can affect various relationships in an organization.

    Required Unit Resources

    Chapter 4: Extent (How Much) Decisions (ULO 7.4)

    Chapter 21: Getting Employees to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 22: Getting Divisions to Work in the Firm’s Best Interests (ULO 7.4)

    Chapter 23: Managing Vertical Relationships (ULO 7.4)

    Unit Lesson

    Lesson: Organizational Design and Incentives (ULO 7.4)
    This lesson covers the topics introduced in this final unit.

    The last unit’s topic on asymmetric information included a section on shirking. Recall that shirking is when
    employees do not work hard because the managers are not able to monitor their performance (either because
    of ability or cost). Another way to look at the problem of shirking is through the principal-agent problem. In the
    principal-agent problem, the principal (typically a business owner) wants their agent (typically the employee)
    to act on the principal’s behalf. The problem is that the agent often has different goals than the principal.

    Incentives

    Incentives are one way to correct shirking and solve the principal-agent problem. Incentives can be tied
    directly to performance, such as commissions, as discussed in the last unit. Incentives can also be tied to
    specific actions or the overall performance of the company. Basing incentives on company performance can
    be dicey though. There are many factors outside the employees’ control that affect company performance.
    The less tied incentives are to employee performance, the less likely the incentives will be to promote the
    desired performance. Still, tying incentives to company performance does help align the goals of the principal
    and the agent.

    UNIT VIII STUDY GUIDE
    Organizational Design and Incentives

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    As mentioned, employees may not have a lot of control over company performance, which can complicate
    attempts to align principal and agent goals. This can be because of large outside influences (demand for the
    product) or because of the nature of the job agents have. Perhaps agents have the information to promote the
    principal’s goals but lack the decision-making authority to realize them. In cases like this, it is important for
    principals to align decision-making power with those who have information.

    One model for aligning goals and addressing the principal-agent problem is the franchise model. In a
    franchise model, a parent company, or brand, franchises out the opportunity to open additional stores under
    the brand name for a percentage of sales. If a brand opened company-owned stores, they would have to rely
    on managers who may not be as motivated, or the job may attract unmotivated managers (recall the different
    explanation for similar problems with moral hazard and adverse selection). With a franchise model, however,
    the individual franchise owner is motivated to make the franchise a success, since that determines the profit.

    When companies grow, they are often divided into different divisions. Incentives can be tricky in ensuring the
    divisions are working toward the same goal. If the incentives are not structured correctly, the divisions may
    make decisions that are best for the division but not best for the company.

    Take for example a college admissions department and an academic department. The academic department
    might be interested in producing quality graduates that will earn the school a good reputation. The academic
    department can help realize those goals with stricter admissions standards. The admissions department,
    however, might be interested in reducing admissions standards in order to admit as many people as possible
    (or at least enough to meet departmental goals). Stricter admissions standards get in the way of admissions.
    Having too many, low quality students in a program can detract from the attention focused to turn the higher
    quality students into reputable graduates who will help build the department’s reputation. Sharing information
    and aligning the goals of the departments is key to getting both departments to act in the interest of the school
    as a whole.

    Sometimes there are exchanges between divisions in an organization. Tracking this and crediting each
    division is important. Transfer pricing is the price of an intermediate good, made in-house, and then “sold” to
    another division. Transfer pricing might be thought of most easily with manufacturing. When making a car, the
    engine is built and then put into the frame. Since it is just the car that is ultimately sold at a price, crediting the
    division that built the engine can be difficult. Obviously, the car would not be much good without the engine.
    Determining the price for the engine, however, is difficult and often controversial between the divisions. The
    engine division will want to be credited with a high price for the engine, but the division that built the frame will
    want to “pay” a low price for the engine. Each division wants to appear as profitable as possible. Giving one
    division an unfair price could hurt morale, and thus productivity, in that division. That would, obviously, hurt
    the company overall.

    Transfer pricing issues can be addressed by treating different divisions as profit centers or cost centers. Profit
    centers are evaluated based on profit or revenue. Cost centers are evaluated based on costs. Using these
    different centers and different goals, as long as the divisions are aligned to the proper center, their goals will
    align with helping the overall organization be more successful.

    Organizations can be ordered based on a variety of plans. Organizations might be organized by function,
    such as production and sales. Organizations can also be organized by products or by geographic region. The
    best organizational structure will depend on the type of firm and how they approach the market.

    Vertical Relationships

    Firms can also find profit potential by expanding operations vertically through their supply chain. This strategy
    is known as a vertical relationship. For a simple example of this, consider a landlord, particularly one
    constrained by rent control laws. The landlord may find him- or herself constrained in what he or she can
    charge for rent. There are other services, however, that can be provided to tenants beyond just the living
    space. A landlord might, for example, furnish the apartment for an extra fee. Firms can even use exclusions,
    forcing buyers to purchase their additional product or service rather than purchasing from a competitor. A
    similar approach is taken with movie theaters or ballparks who sell the tickets to the event and then also
    require that if customers want to enjoy refreshments, they must do so at the concession stands operated by
    the event.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Vertical relationships can also be used to manipulate realized profit. A firm may produce an early stage of a
    product in a high tax area but transfer the production to another location with lower taxes for finalization. The
    transfer can be done at a low price so that the high tax production does not produce much profit and then the
    product is sold by the low tax production area with a higher profit realized thanks to the low transfer/purchase
    price. The reverse can also be done where firms build in profit all along the production pipeline. This is known
    as double marginalization. Of course, if the markups are too much then the price of the product in the market
    will be too high.

    Sometimes the incentives between links in the supply chain, for example between manufacturers and
    retailers, come into conflict. Manufacturers might have an incentive to have the quality of their product
    maintained and displayed but the retailer many not have quite the same concern. Have you ever been in a
    store that sells high quality stereos and speakers? You might notice a special room set up to listen to the
    speakers. This is by the design of the stereo and speaker producer, not necessarily the store. The purpose is
    to provide an environment where you can really hear the quality of the higher priced stereos and speakers. In
    exchange for providing the fancy displays, the manufacturers put minimum prices on their products wherever
    they are sold. The purpose of these minimum prices is to prevent the fancy store from spending money on the
    display only to have consumers come in, listen to the stereos and speakers, decide what they want, and go to
    Walmart to buy it for a cheaper price.

    Similarly, you generally will not see retailers engage in too much advertising. Advertising is mostly handled by
    the producers of the product. A retailer advertising for a particular good may end up convincing consumers to
    buy the product but not necessarily from their location.

    Too much in the way of vertical relationships, however, can raise antitrust concerns. Strong vertical
    relationships can have a negative effect on market competition, so many countries have antitrust laws
    governing vertical relationships. In Europe, for example, Coke is prohibited from purchasing refrigerators in
    their retail locations. The fear is that Coke owning the refrigerators will lead to the exclusion of other soft drink
    producers being able to provide their product cold and ready to drink. So, vertical relationships can come with
    much potential for firms, but they can also come with risks firms should be aware of before pursuing them.

    A final word on vertical relationships—vertical relationships can be pursued through mergers. Simply merging
    with another organization in a business’s supply chain does not always work out. In a free market, where
    buyers and sellers are rational and have full information, the sellers would only accept a price equal to the
    discounted stream of future profits. That means, all else equal, the best the purchasing firm could expect to
    do is break even on the purchase. The potential for the merger to work out is based on some type of synergy
    to be realized that makes the purchased company/asset more valuable for being part of the purchasing
    company. Perhaps the smaller company will benefit from a larger distribution system already in place with the
    purchasing company.

    Suggested Unit Resources

    Article: An Evaluation of Alternative Market-Based Transfer Prices (Optional)
    This article further explores the topics covered in this unit.

  • [Solved] VII Journal

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    [>Economics homework help](https://www.sweetstudy.com/fields/business-finance-economics) See attached – 2 years ago **files (2)** – ## JournalVII.docx – ## UnitVIIStudyGuide.pdf **## JournalVII.docx** This journal measures your mastery of ULOs 3.2, 4.1, 4.2, and 7.2. **Journal objective:** Auctions …

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    [>Economics homework help](https://www.sweetstudy.com/fields/business-finance-economics)

    See attached

    – 2 years ago

    **files (2)**

    – ## JournalVII.docx

    – ## UnitVIIStudyGuide.pdf

    **## JournalVII.docx**

    This journal measures your mastery of ULOs 3.2, 4.1, 4.2, and 7.2.

    **Journal objective:** Auctions can be an important tool for selling/buying goods and gathering information. Auctions are used in multiple venues including agriculture, eBay, and distressed asset sales. The seller does not have to worry about estimating demand and setting a price because the demanders will do that through the auction process.

    **Length:** Your submission is required to be at least 2-pages in length and not more than 5 pages, not including the title page and references.

    **References:** A minimum of 3 peer-reviewed references are required, any additional resources used are required to be scholarly/academic in nature and found in the CSU Library. APA formatting is required be used for citations and references. Use this definition to define the term in the instructions.

    **Definitions:** Scholarly journals are sometimes called academic journals. The terms are often used interchangeably to describe the same type of publication. These types of publications are published by universities, academic institutions, professional associations, and commercial enterprises and are compiled by scholars, academics, and other subject authorities.

    **Details:** Write a journal response examining the value of auctions in the economy by addressing the following items:

    · Introduction

    · Explain the difference between oral auctions and second-price auctions, including how they work and their results.

    · Use the expected value information to illustrate how having more bidders in an oral auction will likely result in a higher winning bid.

    · Explain how the number of bidders in a common value auction affects the outcome of the auction. Relate this to the effect on price in different market structures based on the number of producers.

    · Auctions lead to outcomes where buyers reveal their value for the products being auctioned. To successfully price discriminate, firms often rely on buyers revealing their value for products. Explain the conditions necessary for firms to be able to price discriminate.

    · Conclusion

    **## UnitVIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VII

    At the end of this unit, you should be able to:

    7. Explain the implications of uncertainty in managerial decision-making.
    7.3 Compare moral hazard and adverse selection.

    Required Unit Resources

    Chapter 19: The Problem of Adverse Selection (ULO 7.3)

    Chapter 20: The Problem of Moral Hazard (ULO 7.3)

    Unit Lesson

    Lesson: Adverse Selection and Moral Hazard (ULO 7.3)
    This lesson introduces you to the topics covered in this unit: adverse selection and moral hazard.

    Problems of uncertainty and incomplete information can create a variety of problems for business decision-
    making. Two of those problems, adverse selection and moral hazard, will be the topics of this lesson. They
    are both types of information asymmetries, where one party to an interaction has more information than the
    other party.

    Adverse Selection

    Adverse selection occurs when one party is better informed about product quality than the other party. This
    information difference specifically leads people to self-select in or out of a particular group, leading to
    potentially problematic outcomes. To see these outcomes, consider the example of insurance.

    Insurance is intended to cover people when something unexpected happens. People pay into a pool of money
    (managed by an insurance company) and are then paid out if events covered by their insurance happen. You
    likely have experience with health insurance, car insurance, and life insurance. The model works if there are
    more people paying into the pool than drawing from the pool. People benefit from insurance if an unexpected
    event happens to them and people lose if an event does not happen to them; although, there is still benefit
    from security against risk even if the event does not happen. Ultimately, insurance works because people
    tend to be risk-averse.

    Recall the coin-flipping example from Unit VI. Since the expected value of the game is $0, a risk-neutral
    person is completely indifferent to playing the game because they will expect to win nothing and lose nothing.
    A risk-averse person would not want to participate in the coin-flipping activity because they have a greater
    fear of losing than hope of winning a dollar. A risk-seeking person puts more weight on the positive outcome
    from a risk so they would be more likely to engage in the coin-flipping activity.

    You might see the potential adverse selection problem with insurance. People with a low probability of the
    event happening to them are less likely to join the insurance pool while people with a high probability of the
    event happening to them are more likely to join the insurance pool. This happens when young, healthy people
    opt not to buy health insurance. It is why life insurance companies market to young people to buy insurance
    now (that is, buy it when they likely do not need it). A pool of people made up primarily of people likely to use
    insurance will put the insurance company out of business.

    UNIT VII STUDY GUIDE
    Adverse Selection and Moral Hazard

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    Consider other types of insurance and how well they work. Who is likely to buy vision insurance? Most likely
    people who already need glasses. As a result, there is not a very good cost-benefit to the consumer for vision
    insurance. That is, the amount consumers pay in premiums is close to the maximum benefit they can get from
    their insurance each year.

    Protections Against Adverse Selection

    As a consumer, the best way to deal with adverse selection is to recognize when it will likely happen, which
    group you are likely to be in, and make your decisions accordingly. If you have perfect vision, for example,
    there is not a need to get vision insurance. Consumer perception of adverse selection can also be
    problematic for companies. In the market for used cars, consumers might believe that the only reason
    somebody would look to sell their used car is if something is wrong with it. That is, consumers view the
    market for used cars as an adverse selection problem. Given those assumptions, consumers would decrease
    the amount they are willing to pay for a used car. So how can companies overcome these consumer
    perceptions and consumer selection problems?

    One way companies can overcome adverse selection is by screening consumers. Life insurance companies
    screen prospective customers by asking for medical history. Car insurance companies consider past driving
    record, age, gender, and marital status in setting premiums (or even if they will offer insurance) for customers.
    Going back to the used car market, consumers can request a mechanic review of a car to screen bad cars
    (or, to overcome the problem on their end, the seller offers certification of the car passing an inspection).

    Another way to overcome the adverse selection problem is with signaling. Signaling occurs when one party
    attempts to reveal information about themselves that other parties cannot duplicate. Education, for example,
    is part signal. Getting a degree is a signal to potential employers of a certain level of competence and
    problem-solving ability. People without the same level of competence and problem solving would not, the
    thinking goes, be able to earn the degree. From the business perspective, advertising and branding can serve
    as signals. Businesses would not bother to spend the money on advertising unless their product was worth
    advertising. Similarly, established brand names send a signal to consumers that there is a reason the brand
    has been established. Whether the brand is for low cost or for high quality, consumers can feel comfortable
    knowing the brand will be as expected.

    Adverse selection can happen in areas other than insurance. It can be particularly important for data analysis.
    Imagine you need to figure out how much interest there is in a new product or service and you decide to
    survey people to get your data. You go to the mall and ask people if they would like to participate in your
    survey. Because you can only survey people who are willing to take your survey, you will only get responses
    from people who opt to give up some of their shopping time to take your survey. Who might this be? It might
    be mostly people who are just out for leisurely entertainment and do not have anything better to do. People
    who have a high value for their time naturally opt out of taking your survey, and your data will not include
    information on those types of people. That is, your survey will be biased.

    Moral Hazard

    Another type of asymmetry is moral hazard. One quick point on moral hazard is that it does not really have
    anything to do with morals. Students sometimes fixate on the word moral and assume it has to do with people
    acting immorally. It does not. Some may view the actions in a moral hazard as immoral, but moral hazard still
    refers to specific incentives and actions, not morality generally.

    Moral hazard occurs when one party does not bear the risks for the actions they take. Turning back to
    insurance, a person with health insurance might be more likely to engage in risky activity knowing they will not
    have to pay all of their medical bills. With car insurance, a driver might be less careful on the road knowing
    their car would be replaced by the insurance company if they got into an accident.

    Moral hazard and adverse selection can often explain similar events but the explanations are different.
    Adverse selection would suggest that risky drivers would be more likely to buy cars with airbags. Moral
    hazard would suggest that because a car has air bags, drivers are likely to take more risks when driving.
    Ultimately, the difference is that adverse selection is about hidden information while moral hazard is about
    hidden actions.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Another type of moral hazard is when firms hire workers, but monitoring their behavior is either difficult or
    costly. Without monitoring, employees can shirk in their job duties without repercussions. Potential shirking is
    one reason to pay salespeople commission. Salespeople who shirk and do not make sales will not earn much
    income. Shirking costs both the firm and the employee money as firms have less desire to pay workers in fear
    they will shirk or have less money to pay workers because they have to pay for monitoring. Shirking leads into
    the principal-agent problem, which will be covered in Unit VIII.

    Moral hazard also played an important role in the 2008 financial crisis. Lending money already involves some
    moral hazard. Borrowers engage in riskier activity with someone else’s money than they are willing to engage
    in with their own money (the borrower, after all, is not risking their own money when they make a big
    purchase, they are only risking a future promise to pay the money; a promise they can break). In the financial
    crisis, however, banks were bailed out for their risky decisions in a variety of ways. First, their loans were
    often insured by Fannie Mae and Freddie Mac. Second, many mortgage companies would write the loan and
    then sell the loan so they were not the ones actually servicing the loan. The company would get paid for
    writing the loan but then not bear any risk for how the loan actually performed. Third, when the financial crisis
    started, the government bailed out banks and other financial institutions (and the automobile industry).

    Protections Against Moral Hazard

    Sometimes, governments attempt to regulate away risky behavior. This is the case with the federal deposit
    insurance and banks. Because bank deposits are insured, consumers do not have to worry if their bank goes
    under. They will still get their money. That leads consumers to ignore bank risk when deciding where to
    deposit their money and instead focus on which bank offers the best interest rates. Banks can only offer
    higher interest rates if they are able to generate a higher return on their loans. That is, the riskier loans banks
    make, the more interest they earn, and the more interest they can pay to their customers to attract more
    deposits. Since banking regulators are well aware of these incentives, they attempt to regulate bank lending
    activity.

    When firms engage in risky activity but are bailed out when the risks do not work out, there is no incentive for
    the firms to change their behavior and engage in less risky behavior.

    Learning Activities (Nongraded)

    Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
    them. If you have questions, contact your instructor for further guidance and information.

    In order to check your understanding of concepts
    covered in this unit, complete the Unit VII Check for
    Understanding activity.

    Unit VII Activity Alternate Format PDF

    NOTE: Be sure to maximize your internet browser
    so that no part of the presentation gets cut off.

    **## UnitVIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VII

    At the end of this unit, you should be able to:

    7. Explain the implications of uncertainty in managerial decision-making.
    7.3 Compare moral hazard and adverse selection.

    Required Unit Resources

    Chapter 19: The Problem of Adverse Selection (ULO 7.3)

    Chapter 20: The Problem of Moral Hazard (ULO 7.3)

    Unit Lesson

    Lesson: Adverse Selection and Moral Hazard (ULO 7.3)
    This lesson introduces you to the topics covered in this unit: adverse selection and moral hazard.

    Problems of uncertainty and incomplete information can create a variety of problems for business decision-
    making. Two of those problems, adverse selection and moral hazard, will be the topics of this lesson. They
    are both types of information asymmetries, where one party to an interaction has more information than the
    other party.

    Adverse Selection

    Adverse selection occurs when one party is better informed about product quality than the other party. This
    information difference specifically leads people to self-select in or out of a particular group, leading to
    potentially problematic outcomes. To see these outcomes, consider the example of insurance.

    Insurance is intended to cover people when something unexpected happens. People pay into a pool of money
    (managed by an insurance company) and are then paid out if events covered by their insurance happen. You
    likely have experience with health insurance, car insurance, and life insurance. The model works if there are
    more people paying into the pool than drawing from the pool. People benefit from insurance if an unexpected
    event happens to them and people lose if an event does not happen to them; although, there is still benefit
    from security against risk even if the event does not happen. Ultimately, insurance works because people
    tend to be risk-averse.

    Recall the coin-flipping example from Unit VI. Since the expected value of the game is $0, a risk-neutral
    person is completely indifferent to playing the game because they will expect to win nothing and lose nothing.
    A risk-averse person would not want to participate in the coin-flipping activity because they have a greater
    fear of losing than hope of winning a dollar. A risk-seeking person puts more weight on the positive outcome
    from a risk so they would be more likely to engage in the coin-flipping activity.

    You might see the potential adverse selection problem with insurance. People with a low probability of the
    event happening to them are less likely to join the insurance pool while people with a high probability of the
    event happening to them are more likely to join the insurance pool. This happens when young, healthy people
    opt not to buy health insurance. It is why life insurance companies market to young people to buy insurance
    now (that is, buy it when they likely do not need it). A pool of people made up primarily of people likely to use
    insurance will put the insurance company out of business.

    UNIT VII STUDY GUIDE
    Adverse Selection and Moral Hazard

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    Consider other types of insurance and how well they work. Who is likely to buy vision insurance? Most likely
    people who already need glasses. As a result, there is not a very good cost-benefit to the consumer for vision
    insurance. That is, the amount consumers pay in premiums is close to the maximum benefit they can get from
    their insurance each year.

    Protections Against Adverse Selection

    As a consumer, the best way to deal with adverse selection is to recognize when it will likely happen, which
    group you are likely to be in, and make your decisions accordingly. If you have perfect vision, for example,
    there is not a need to get vision insurance. Consumer perception of adverse selection can also be
    problematic for companies. In the market for used cars, consumers might believe that the only reason
    somebody would look to sell their used car is if something is wrong with it. That is, consumers view the
    market for used cars as an adverse selection problem. Given those assumptions, consumers would decrease
    the amount they are willing to pay for a used car. So how can companies overcome these consumer
    perceptions and consumer selection problems?

    One way companies can overcome adverse selection is by screening consumers. Life insurance companies
    screen prospective customers by asking for medical history. Car insurance companies consider past driving
    record, age, gender, and marital status in setting premiums (or even if they will offer insurance) for customers.
    Going back to the used car market, consumers can request a mechanic review of a car to screen bad cars
    (or, to overcome the problem on their end, the seller offers certification of the car passing an inspection).

    Another way to overcome the adverse selection problem is with signaling. Signaling occurs when one party
    attempts to reveal information about themselves that other parties cannot duplicate. Education, for example,
    is part signal. Getting a degree is a signal to potential employers of a certain level of competence and
    problem-solving ability. People without the same level of competence and problem solving would not, the
    thinking goes, be able to earn the degree. From the business perspective, advertising and branding can serve
    as signals. Businesses would not bother to spend the money on advertising unless their product was worth
    advertising. Similarly, established brand names send a signal to consumers that there is a reason the brand
    has been established. Whether the brand is for low cost or for high quality, consumers can feel comfortable
    knowing the brand will be as expected.

    Adverse selection can happen in areas other than insurance. It can be particularly important for data analysis.
    Imagine you need to figure out how much interest there is in a new product or service and you decide to
    survey people to get your data. You go to the mall and ask people if they would like to participate in your
    survey. Because you can only survey people who are willing to take your survey, you will only get responses
    from people who opt to give up some of their shopping time to take your survey. Who might this be? It might
    be mostly people who are just out for leisurely entertainment and do not have anything better to do. People
    who have a high value for their time naturally opt out of taking your survey, and your data will not include
    information on those types of people. That is, your survey will be biased.

    Moral Hazard

    Another type of asymmetry is moral hazard. One quick point on moral hazard is that it does not really have
    anything to do with morals. Students sometimes fixate on the word moral and assume it has to do with people
    acting immorally. It does not. Some may view the actions in a moral hazard as immoral, but moral hazard still
    refers to specific incentives and actions, not morality generally.

    Moral hazard occurs when one party does not bear the risks for the actions they take. Turning back to
    insurance, a person with health insurance might be more likely to engage in risky activity knowing they will not
    have to pay all of their medical bills. With car insurance, a driver might be less careful on the road knowing
    their car would be replaced by the insurance company if they got into an accident.

    Moral hazard and adverse selection can often explain similar events but the explanations are different.
    Adverse selection would suggest that risky drivers would be more likely to buy cars with airbags. Moral
    hazard would suggest that because a car has air bags, drivers are likely to take more risks when driving.
    Ultimately, the difference is that adverse selection is about hidden information while moral hazard is about
    hidden actions.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Another type of moral hazard is when firms hire workers, but monitoring their behavior is either difficult or
    costly. Without monitoring, employees can shirk in their job duties without repercussions. Potential shirking is
    one reason to pay salespeople commission. Salespeople who shirk and do not make sales will not earn much
    income. Shirking costs both the firm and the employee money as firms have less desire to pay workers in fear
    they will shirk or have less money to pay workers because they have to pay for monitoring. Shirking leads into
    the principal-agent problem, which will be covered in Unit VIII.

    Moral hazard also played an important role in the 2008 financial crisis. Lending money already involves some
    moral hazard. Borrowers engage in riskier activity with someone else’s money than they are willing to engage
    in with their own money (the borrower, after all, is not risking their own money when they make a big
    purchase, they are only risking a future promise to pay the money; a promise they can break). In the financial
    crisis, however, banks were bailed out for their risky decisions in a variety of ways. First, their loans were
    often insured by Fannie Mae and Freddie Mac. Second, many mortgage companies would write the loan and
    then sell the loan so they were not the ones actually servicing the loan. The company would get paid for
    writing the loan but then not bear any risk for how the loan actually performed. Third, when the financial crisis
    started, the government bailed out banks and other financial institutions (and the automobile industry).

    Protections Against Moral Hazard

    Sometimes, governments attempt to regulate away risky behavior. This is the case with the federal deposit
    insurance and banks. Because bank deposits are insured, consumers do not have to worry if their bank goes
    under. They will still get their money. That leads consumers to ignore bank risk when deciding where to
    deposit their money and instead focus on which bank offers the best interest rates. Banks can only offer
    higher interest rates if they are able to generate a higher return on their loans. That is, the riskier loans banks
    make, the more interest they earn, and the more interest they can pay to their customers to attract more
    deposits. Since banking regulators are well aware of these incentives, they attempt to regulate bank lending
    activity.

    When firms engage in risky activity but are bailed out when the risks do not work out, there is no incentive for
    the firms to change their behavior and engage in less risky behavior.

    Learning Activities (Nongraded)

    Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
    them. If you have questions, contact your instructor for further guidance and information.

    In order to check your understanding of concepts
    covered in this unit, complete the Unit VII Check for
    Understanding activity.

    Unit VII Activity Alternate Format PDF

    NOTE: Be sure to maximize your internet browser
    so that no part of the presentation gets cut off.

    **## JournalVII.docx**

    This journal measures your mastery of ULOs 3.2, 4.1, 4.2, and 7.2.

    **Journal objective:** Auctions can be an important tool for selling/buying goods and gathering information. Auctions are used in multiple venues including agriculture, eBay, and distressed asset sales. The seller does not have to worry about estimating demand and setting a price because the demanders will do that through the auction process.

    **Length:** Your submission is required to be at least 2-pages in length and not more than 5 pages, not including the title page and references.

    **References:** A minimum of 3 peer-reviewed references are required, any additional resources used are required to be scholarly/academic in nature and found in the CSU Library. APA formatting is required be used for citations and references. Use this definition to define the term in the instructions.

    **Definitions:** Scholarly journals are sometimes called academic journals. The terms are often used interchangeably to describe the same type of publication. These types of publications are published by universities, academic institutions, professional associations, and commercial enterprises and are compiled by scholars, academics, and other subject authorities.

    **Details:** Write a journal response examining the value of auctions in the economy by addressing the following items:

    · Introduction

    · Explain the difference between oral auctions and second-price auctions, including how they work and their results.

    · Use the expected value information to illustrate how having more bidders in an oral auction will likely result in a higher winning bid.

    · Explain how the number of bidders in a common value auction affects the outcome of the auction. Relate this to the effect on price in different market structures based on the number of producers.

    · Auctions lead to outcomes where buyers reveal their value for the products being auctioned. To successfully price discriminate, firms often rely on buyers revealing their value for products. Explain the conditions necessary for firms to be able to price discriminate.

    · Conclusion

    **## UnitVIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VII

    At the end of this unit, you should be able to:

    7. Explain the implications of uncertainty in managerial decision-making.
    7.3 Compare moral hazard and adverse selection.

    Required Unit Resources

    Chapter 19: The Problem of Adverse Selection (ULO 7.3)

    Chapter 20: The Problem of Moral Hazard (ULO 7.3)

    Unit Lesson

    Lesson: Adverse Selection and Moral Hazard (ULO 7.3)
    This lesson introduces you to the topics covered in this unit: adverse selection and moral hazard.

    Problems of uncertainty and incomplete information can create a variety of problems for business decision-
    making. Two of those problems, adverse selection and moral hazard, will be the topics of this lesson. They
    are both types of information asymmetries, where one party to an interaction has more information than the
    other party.

    Adverse Selection

    Adverse selection occurs when one party is better informed about product quality than the other party. This
    information difference specifically leads people to self-select in or out of a particular group, leading to
    potentially problematic outcomes. To see these outcomes, consider the example of insurance.

    Insurance is intended to cover people when something unexpected happens. People pay into a pool of money
    (managed by an insurance company) and are then paid out if events covered by their insurance happen. You
    likely have experience with health insurance, car insurance, and life insurance. The model works if there are
    more people paying into the pool than drawing from the pool. People benefit from insurance if an unexpected
    event happens to them and people lose if an event does not happen to them; although, there is still benefit
    from security against risk even if the event does not happen. Ultimately, insurance works because people
    tend to be risk-averse.

    Recall the coin-flipping example from Unit VI. Since the expected value of the game is $0, a risk-neutral
    person is completely indifferent to playing the game because they will expect to win nothing and lose nothing.
    A risk-averse person would not want to participate in the coin-flipping activity because they have a greater
    fear of losing than hope of winning a dollar. A risk-seeking person puts more weight on the positive outcome
    from a risk so they would be more likely to engage in the coin-flipping activity.

    You might see the potential adverse selection problem with insurance. People with a low probability of the
    event happening to them are less likely to join the insurance pool while people with a high probability of the
    event happening to them are more likely to join the insurance pool. This happens when young, healthy people
    opt not to buy health insurance. It is why life insurance companies market to young people to buy insurance
    now (that is, buy it when they likely do not need it). A pool of people made up primarily of people likely to use
    insurance will put the insurance company out of business.

    UNIT VII STUDY GUIDE
    Adverse Selection and Moral Hazard

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    Consider other types of insurance and how well they work. Who is likely to buy vision insurance? Most likely
    people who already need glasses. As a result, there is not a very good cost-benefit to the consumer for vision
    insurance. That is, the amount consumers pay in premiums is close to the maximum benefit they can get from
    their insurance each year.

    Protections Against Adverse Selection

    As a consumer, the best way to deal with adverse selection is to recognize when it will likely happen, which
    group you are likely to be in, and make your decisions accordingly. If you have perfect vision, for example,
    there is not a need to get vision insurance. Consumer perception of adverse selection can also be
    problematic for companies. In the market for used cars, consumers might believe that the only reason
    somebody would look to sell their used car is if something is wrong with it. That is, consumers view the
    market for used cars as an adverse selection problem. Given those assumptions, consumers would decrease
    the amount they are willing to pay for a used car. So how can companies overcome these consumer
    perceptions and consumer selection problems?

    One way companies can overcome adverse selection is by screening consumers. Life insurance companies
    screen prospective customers by asking for medical history. Car insurance companies consider past driving
    record, age, gender, and marital status in setting premiums (or even if they will offer insurance) for customers.
    Going back to the used car market, consumers can request a mechanic review of a car to screen bad cars
    (or, to overcome the problem on their end, the seller offers certification of the car passing an inspection).

    Another way to overcome the adverse selection problem is with signaling. Signaling occurs when one party
    attempts to reveal information about themselves that other parties cannot duplicate. Education, for example,
    is part signal. Getting a degree is a signal to potential employers of a certain level of competence and
    problem-solving ability. People without the same level of competence and problem solving would not, the
    thinking goes, be able to earn the degree. From the business perspective, advertising and branding can serve
    as signals. Businesses would not bother to spend the money on advertising unless their product was worth
    advertising. Similarly, established brand names send a signal to consumers that there is a reason the brand
    has been established. Whether the brand is for low cost or for high quality, consumers can feel comfortable
    knowing the brand will be as expected.

    Adverse selection can happen in areas other than insurance. It can be particularly important for data analysis.
    Imagine you need to figure out how much interest there is in a new product or service and you decide to
    survey people to get your data. You go to the mall and ask people if they would like to participate in your
    survey. Because you can only survey people who are willing to take your survey, you will only get responses
    from people who opt to give up some of their shopping time to take your survey. Who might this be? It might
    be mostly people who are just out for leisurely entertainment and do not have anything better to do. People
    who have a high value for their time naturally opt out of taking your survey, and your data will not include
    information on those types of people. That is, your survey will be biased.

    Moral Hazard

    Another type of asymmetry is moral hazard. One quick point on moral hazard is that it does not really have
    anything to do with morals. Students sometimes fixate on the word moral and assume it has to do with people
    acting immorally. It does not. Some may view the actions in a moral hazard as immoral, but moral hazard still
    refers to specific incentives and actions, not morality generally.

    Moral hazard occurs when one party does not bear the risks for the actions they take. Turning back to
    insurance, a person with health insurance might be more likely to engage in risky activity knowing they will not
    have to pay all of their medical bills. With car insurance, a driver might be less careful on the road knowing
    their car would be replaced by the insurance company if they got into an accident.

    Moral hazard and adverse selection can often explain similar events but the explanations are different.
    Adverse selection would suggest that risky drivers would be more likely to buy cars with airbags. Moral
    hazard would suggest that because a car has air bags, drivers are likely to take more risks when driving.
    Ultimately, the difference is that adverse selection is about hidden information while moral hazard is about
    hidden actions.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Another type of moral hazard is when firms hire workers, but monitoring their behavior is either difficult or
    costly. Without monitoring, employees can shirk in their job duties without repercussions. Potential shirking is
    one reason to pay salespeople commission. Salespeople who shirk and do not make sales will not earn much
    income. Shirking costs both the firm and the employee money as firms have less desire to pay workers in fear
    they will shirk or have less money to pay workers because they have to pay for monitoring. Shirking leads into
    the principal-agent problem, which will be covered in Unit VIII.

    Moral hazard also played an important role in the 2008 financial crisis. Lending money already involves some
    moral hazard. Borrowers engage in riskier activity with someone else’s money than they are willing to engage
    in with their own money (the borrower, after all, is not risking their own money when they make a big
    purchase, they are only risking a future promise to pay the money; a promise they can break). In the financial
    crisis, however, banks were bailed out for their risky decisions in a variety of ways. First, their loans were
    often insured by Fannie Mae and Freddie Mac. Second, many mortgage companies would write the loan and
    then sell the loan so they were not the ones actually servicing the loan. The company would get paid for
    writing the loan but then not bear any risk for how the loan actually performed. Third, when the financial crisis
    started, the government bailed out banks and other financial institutions (and the automobile industry).

    Protections Against Moral Hazard

    Sometimes, governments attempt to regulate away risky behavior. This is the case with the federal deposit
    insurance and banks. Because bank deposits are insured, consumers do not have to worry if their bank goes
    under. They will still get their money. That leads consumers to ignore bank risk when deciding where to
    deposit their money and instead focus on which bank offers the best interest rates. Banks can only offer
    higher interest rates if they are able to generate a higher return on their loans. That is, the riskier loans banks
    make, the more interest they earn, and the more interest they can pay to their customers to attract more
    deposits. Since banking regulators are well aware of these incentives, they attempt to regulate bank lending
    activity.

    When firms engage in risky activity but are bailed out when the risks do not work out, there is no incentive for
    the firms to change their behavior and engage in less risky behavior.

    Learning Activities (Nongraded)

    Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
    them. If you have questions, contact your instructor for further guidance and information.

    In order to check your understanding of concepts
    covered in this unit, complete the Unit VII Check for
    Understanding activity.

    Unit VII Activity Alternate Format PDF

    NOTE: Be sure to maximize your internet browser
    so that no part of the presentation gets cut off.

    **## JournalVII.docx**

    This journal measures your mastery of ULOs 3.2, 4.1, 4.2, and 7.2.

    **Journal objective:** Auctions can be an important tool for selling/buying goods and gathering information. Auctions are used in multiple venues including agriculture, eBay, and distressed asset sales. The seller does not have to worry about estimating demand and setting a price because the demanders will do that through the auction process.

    **Length:** Your submission is required to be at least 2-pages in length and not more than 5 pages, not including the title page and references.

    **References:** A minimum of 3 peer-reviewed references are required, any additional resources used are required to be scholarly/academic in nature and found in the CSU Library. APA formatting is required be used for citations and references. Use this definition to define the term in the instructions.

    **Definitions:** Scholarly journals are sometimes called academic journals. The terms are often used interchangeably to describe the same type of publication. These types of publications are published by universities, academic institutions, professional associations, and commercial enterprises and are compiled by scholars, academics, and other subject authorities.

    **Details:** Write a journal response examining the value of auctions in the economy by addressing the following items:

    · Introduction

    · Explain the difference between oral auctions and second-price auctions, including how they work and their results.

    · Use the expected value information to illustrate how having more bidders in an oral auction will likely result in a higher winning bid.

    · Explain how the number of bidders in a common value auction affects the outcome of the auction. Relate this to the effect on price in different market structures based on the number of producers.

    · Auctions lead to outcomes where buyers reveal their value for the products being auctioned. To successfully price discriminate, firms often rely on buyers revealing their value for products. Explain the conditions necessary for firms to be able to price discriminate.

    · Conclusion

    **## UnitVIIStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit VII

    At the end of this unit, you should be able to:

    7. Explain the implications of uncertainty in managerial decision-making.
    7.3 Compare moral hazard and adverse selection.

    Required Unit Resources

    Chapter 19: The Problem of Adverse Selection (ULO 7.3)

    Chapter 20: The Problem of Moral Hazard (ULO 7.3)

    Unit Lesson

    Lesson: Adverse Selection and Moral Hazard (ULO 7.3)
    This lesson introduces you to the topics covered in this unit: adverse selection and moral hazard.

    Problems of uncertainty and incomplete information can create a variety of problems for business decision-
    making. Two of those problems, adverse selection and moral hazard, will be the topics of this lesson. They
    are both types of information asymmetries, where one party to an interaction has more information than the
    other party.

    Adverse Selection

    Adverse selection occurs when one party is better informed about product quality than the other party. This
    information difference specifically leads people to self-select in or out of a particular group, leading to
    potentially problematic outcomes. To see these outcomes, consider the example of insurance.

    Insurance is intended to cover people when something unexpected happens. People pay into a pool of money
    (managed by an insurance company) and are then paid out if events covered by their insurance happen. You
    likely have experience with health insurance, car insurance, and life insurance. The model works if there are
    more people paying into the pool than drawing from the pool. People benefit from insurance if an unexpected
    event happens to them and people lose if an event does not happen to them; although, there is still benefit
    from security against risk even if the event does not happen. Ultimately, insurance works because people
    tend to be risk-averse.

    Recall the coin-flipping example from Unit VI. Since the expected value of the game is $0, a risk-neutral
    person is completely indifferent to playing the game because they will expect to win nothing and lose nothing.
    A risk-averse person would not want to participate in the coin-flipping activity because they have a greater
    fear of losing than hope of winning a dollar. A risk-seeking person puts more weight on the positive outcome
    from a risk so they would be more likely to engage in the coin-flipping activity.

    You might see the potential adverse selection problem with insurance. People with a low probability of the
    event happening to them are less likely to join the insurance pool while people with a high probability of the
    event happening to them are more likely to join the insurance pool. This happens when young, healthy people
    opt not to buy health insurance. It is why life insurance companies market to young people to buy insurance
    now (that is, buy it when they likely do not need it). A pool of people made up primarily of people likely to use
    insurance will put the insurance company out of business.

    UNIT VII STUDY GUIDE
    Adverse Selection and Moral Hazard

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    Consider other types of insurance and how well they work. Who is likely to buy vision insurance? Most likely
    people who already need glasses. As a result, there is not a very good cost-benefit to the consumer for vision
    insurance. That is, the amount consumers pay in premiums is close to the maximum benefit they can get from
    their insurance each year.

    Protections Against Adverse Selection

    As a consumer, the best way to deal with adverse selection is to recognize when it will likely happen, which
    group you are likely to be in, and make your decisions accordingly. If you have perfect vision, for example,
    there is not a need to get vision insurance. Consumer perception of adverse selection can also be
    problematic for companies. In the market for used cars, consumers might believe that the only reason
    somebody would look to sell their used car is if something is wrong with it. That is, consumers view the
    market for used cars as an adverse selection problem. Given those assumptions, consumers would decrease
    the amount they are willing to pay for a used car. So how can companies overcome these consumer
    perceptions and consumer selection problems?

    One way companies can overcome adverse selection is by screening consumers. Life insurance companies
    screen prospective customers by asking for medical history. Car insurance companies consider past driving
    record, age, gender, and marital status in setting premiums (or even if they will offer insurance) for customers.
    Going back to the used car market, consumers can request a mechanic review of a car to screen bad cars
    (or, to overcome the problem on their end, the seller offers certification of the car passing an inspection).

    Another way to overcome the adverse selection problem is with signaling. Signaling occurs when one party
    attempts to reveal information about themselves that other parties cannot duplicate. Education, for example,
    is part signal. Getting a degree is a signal to potential employers of a certain level of competence and
    problem-solving ability. People without the same level of competence and problem solving would not, the
    thinking goes, be able to earn the degree. From the business perspective, advertising and branding can serve
    as signals. Businesses would not bother to spend the money on advertising unless their product was worth
    advertising. Similarly, established brand names send a signal to consumers that there is a reason the brand
    has been established. Whether the brand is for low cost or for high quality, consumers can feel comfortable
    knowing the brand will be as expected.

    Adverse selection can happen in areas other than insurance. It can be particularly important for data analysis.
    Imagine you need to figure out how much interest there is in a new product or service and you decide to
    survey people to get your data. You go to the mall and ask people if they would like to participate in your
    survey. Because you can only survey people who are willing to take your survey, you will only get responses
    from people who opt to give up some of their shopping time to take your survey. Who might this be? It might
    be mostly people who are just out for leisurely entertainment and do not have anything better to do. People
    who have a high value for their time naturally opt out of taking your survey, and your data will not include
    information on those types of people. That is, your survey will be biased.

    Moral Hazard

    Another type of asymmetry is moral hazard. One quick point on moral hazard is that it does not really have
    anything to do with morals. Students sometimes fixate on the word moral and assume it has to do with people
    acting immorally. It does not. Some may view the actions in a moral hazard as immoral, but moral hazard still
    refers to specific incentives and actions, not morality generally.

    Moral hazard occurs when one party does not bear the risks for the actions they take. Turning back to
    insurance, a person with health insurance might be more likely to engage in risky activity knowing they will not
    have to pay all of their medical bills. With car insurance, a driver might be less careful on the road knowing
    their car would be replaced by the insurance company if they got into an accident.

    Moral hazard and adverse selection can often explain similar events but the explanations are different.
    Adverse selection would suggest that risky drivers would be more likely to buy cars with airbags. Moral
    hazard would suggest that because a car has air bags, drivers are likely to take more risks when driving.
    Ultimately, the difference is that adverse selection is about hidden information while moral hazard is about
    hidden actions.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Another type of moral hazard is when firms hire workers, but monitoring their behavior is either difficult or
    costly. Without monitoring, employees can shirk in their job duties without repercussions. Potential shirking is
    one reason to pay salespeople commission. Salespeople who shirk and do not make sales will not earn much
    income. Shirking costs both the firm and the employee money as firms have less desire to pay workers in fear
    they will shirk or have less money to pay workers because they have to pay for monitoring. Shirking leads into
    the principal-agent problem, which will be covered in Unit VIII.

    Moral hazard also played an important role in the 2008 financial crisis. Lending money already involves some
    moral hazard. Borrowers engage in riskier activity with someone else’s money than they are willing to engage
    in with their own money (the borrower, after all, is not risking their own money when they make a big
    purchase, they are only risking a future promise to pay the money; a promise they can break). In the financial
    crisis, however, banks were bailed out for their risky decisions in a variety of ways. First, their loans were
    often insured by Fannie Mae and Freddie Mac. Second, many mortgage companies would write the loan and
    then sell the loan so they were not the ones actually servicing the loan. The company would get paid for
    writing the loan but then not bear any risk for how the loan actually performed. Third, when the financial crisis
    started, the government bailed out banks and other financial institutions (and the automobile industry).

    Protections Against Moral Hazard

    Sometimes, governments attempt to regulate away risky behavior. This is the case with the federal deposit
    insurance and banks. Because bank deposits are insured, consumers do not have to worry if their bank goes
    under. They will still get their money. That leads consumers to ignore bank risk when deciding where to
    deposit their money and instead focus on which bank offers the best interest rates. Banks can only offer
    higher interest rates if they are able to generate a higher return on their loans. That is, the riskier loans banks
    make, the more interest they earn, and the more interest they can pay to their customers to attract more
    deposits. Since banking regulators are well aware of these incentives, they attempt to regulate bank lending
    activity.

    When firms engage in risky activity but are bailed out when the risks do not work out, there is no incentive for
    the firms to change their behavior and engage in less risky behavior.

    Learning Activities (Nongraded)

    Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
    them. If you have questions, contact your instructor for further guidance and information.

    In order to check your understanding of concepts
    covered in this unit, complete the Unit VII Check for
    Understanding activity.

    Unit VII Activity Alternate Format PDF

    NOTE: Be sure to maximize your internet browser
    so that no part of the presentation gets cut off.

  • [Solved] Professional Ethics

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    The lesson and reading assignments in this unit discuss the relationship between businesses and environmental issues. Society has started to demand that businesses take more responsibility for environmental concerns. Do you believe businesses should be required to help protect the environment? Expla…

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    Assignment Prompt & Instructions

    The lesson and reading assignments in this unit discuss the relationship between businesses and environmental issues. Society has started to demand that businesses take more responsibility for environmental concerns.

    Do you believe businesses should be required to help protect the environment? Explain your rationale and offer examples of the consequences of failing to do so or expected positive outcomes to support your position.

    What specific actions can businesses take to improve environmental concerns? Give two examples of potential actions – one that can have an impact at a local level and one that can impact the environment at a global level.

    Your journal submission must be a minimum of three pages. You are required to use at least two peer-reviewed or academic sources to support your response. All sources used must have citations and references properly formatted in APA Style.

    – 2 years ago