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Question 101
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Check My Assignment!You have worked as an investment banker in New York and Hong Kong for the last five years. You are tired of living in populated cities and yearn for a more peaceful environment. TheWallStreetJournalcontainedastoryabout thefederalgovernment’sactionstoincreasecornbasedethanolasasubstituteforgasolineinthe UnitedStates.Accordingtoreports,newlawsand regulationswillresultintheconstructionofhundreds ofnewethanolfactoriesoverthenextdecade.Demandforcorntofueltheplantsisexpectedtosoar. Based on a Web search, you found 80 acres of prime farmland for sale in Illinois at a price of $10,000 per acre. You have saved enough from your past bonuses to purchase the land. You are tempted to quit your job and purchase the land to farm corn.
Several colleagues have told you that it sounds like a good idea. They say that not only would it allow you to move to a less populated area, but it is a great business opportunity with little risk. Surely the price of farmland will increase dramatically over the next few years as the ethanol plants begin operation and the demand for corn skyrockets. Good farmland is limited, and you might reasonably expect its price to double or even triple over the next few years. You are smart and should be able to learn the farm business very quickly. In addition, you will have a cost advantage over farmers who wait to buy land at much higher prices. If you decide that you do not want to be a farmer, you can always sell the land at a “huge profit.” Do you think your colleagues are giving you good advice? Explain.
This week’s case study asks you to put yourself in the shoes of an investment banker who has worked for a while in New York City and is ready to make a change. Brickely, Smith, and Zimmerman (2016) have indicated that the government has initiated policies that will increase the demand for corn-based ethanol. Your colleague has found some land selling for an attractive price and is thinking about getting into the farm business. The assumption is that regardless of how well he does in the farm business he will be able to sell the farm land for a huge profit. There are many ways that you can respond this case, but some economic elements that you should think about integrating into your response are related to (a) Opportunity Cost,
(b) The Difference between Creating (or even ‘recognizing’) and Capturing Value,
(c) Barriers to Entry,
(d) The Degree of Rivalry within this Industry,
(e) Effect of Government Regulation on Strategy Formulation, and
(f) Risk. These are just ideas to give you some guidance on how to construct your response to this case; in addition, I have added a reference to an article written by Davey (2007) that discusses this case using actual data and leverages interviews of local farmers.
All questions should be answered for each case study. If calculations would enhance your commentary, it is strongly urged that you include these calculations. The length of a case study is determined by how well you include the requested
information. Succinct, complete answers that show that you have prepared your writing with thought and reflection are preferable to answers that ramble and are not reflective of the course content. A complete, well developed response can be given in one paragraph, several paragraphs or a page depending on the question and your ability to articulate your answer. If it requires more than one page that is acceptable as well. The written assignments will be critiqued on the technical part of your answer, the clarity and logical sequence of your response, and grammar and spelling. You are encouraged to use textbook concepts as you attempt to explain in your own words the
answers to the assignments.
Specific Formatting Instruction·
All assignments must be completed as Word documents.
If you do not have Word youcan use Microsoft WordPad and use the rich text format (.rtf extension).·All assignments must be prepared in the APA format, including references.
- Cover page.Use a single cover page that contains the title of the assignment and
Your name
Margins.
All page margins should be the default margins for your word processing
program. Use only the LEFT margin justification setting.
- Page numbering.Please use page numbering for all pages except the cover page.
- Spacing/Font.
All papers should be single spaced only (this includes spacing between
paragraphs) and a 12 point font. ·Direct quotes/ paraphrasing.
Direct quotes and paraphrasing MUST be referenced and cited using APA
guidelines. Although there is no limit on how many citations are in
the paper, there is a limit of 15% for quotations and 25% for unoriginal wording for this
course. When more than one quarter of a paper seems to be unoriginal, it usually
indicates a problem. Even if sources are properly cited and some of the words are
changed, it raises the question of how much original thinking went into the paper. There
is a big difference between starting with a blank page and writing your own thoughts,
and building the paper around quotes, paraphrased sources, and the altered wording of
another author. You are encouraged to use textbook concepts as you attempt to explain
in your own words the answers to the assignments rather than relying heavily on quoted
material. Try to think about how you would explain your answer to someone who has not taken a managerial economics class. High scores on the originality report in Turnitin.com are not just a result of plagiarism; they can also result from an incorrect quotation/citation methodology or from using words that have been rearranged from your sources. If you use someone else’s work you must cite and reference it appropriately.
References.
You must include a separate References page in APA format with each
paper. Any source that is used to develop your paper must be included in this section
