FP/100 Economic Concepts Worksheet

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Economic Concepts WorksheetEconomics ConceptsReview your Week 1 Learning Activities, especially Ch. 1 of Focus on Personal Finance, Khan Academy Resources and Video Reflection, and Investopedia Resources located in the “Additional Reading and Video Resources” link on your course page.Respond to each of the following questions in your own words. Each response should be at least 50 words.1. A nominal interest rate is defined as “the opportunity cost of holding or using money.” Explain what you understand this definition to mean.2. When the economy is in a recession, the Federal Reserve usually cuts interest rates. Why would the federal government do this?3. How does your saving and spending profile change depending on the state of the economy, i.e., whether the economy is in a recession versus expansion? Do interest rates play a role in your decisions? Why or why not?4. If interest rates are at a level of 1% and expected inflation is 2%, would you prefer saving or spending your money? Justify your answer.Behavioral Economics ConceptsReview your Week 1 Learning Activities, especially the Investopedia Resources on Behavioral Finance: Anchoring, Mental Accounting, Herd Behavior, and Prospect Theory located in the “Additional Reading and Video Resources” link on your course page.Choose two of the following concepts discussed in this week’s materials.· Anchoring· Mental accounting· Herd behavior· Prospect theoryDefine each in your own words and explain how each could apply to your personal financial and credit decisions. Your entire response should be at least 100 words.

Ethical Issues in Organizational Assessment

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Ethical issues are of particular concern in organizational assessments and OD interventions. Currently, there is no ethical standard established for this field. Many view this responsibility as being shared by the client and the consultant. This suggests that there is a need for establishing a code of ethical conduct for the profession, incorporating cultural differences in a code of ethics, and including cross-cultural ethics training for practitioners.Based on your analysis of the articles, address the following:What ethical considerations do the articles you have researched bring to mind? Give examples from your own experience or from current events.What are the ethical implications of receiving unsolicited off-the-record information as part of an organizational assessment? How should the OD practitioner deal with these implications?OD is a field of practice and not a “profession.” Therefore, it does not yet have a code of ethics. What are the three to five ethical principles that you believe an OD practitioner should follow? Provide appropriate justification for your answer.Write a 2-page essay in Word format.

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Please write TWO short paragraphs (minimum 4 sentences each) explaining two things you didn’t know before reading the four chapters we’ve covered in Unit Two (weeks four and five). Consider writing about what you learned regarding an interesting concept or theory, whether you were surprised at some research finding, whether something was totally unexpected etc.These 2.5 points and are really meant to be “free” points so please participate well. It is not a requirement to respond to others but feel free to do so if you’d like.