The essay should include an introduction with theoretical background, the body paragraphs (maximum 2 body paragraphs) and a conclusion.
Essay Topics:
1) Billionaire investor Warren Buffett says that for wealthy people there comes a point where money “has no real utility.” If you are the CEO of a philanthropic organization as for example the http://givingpledge.org/faq.aspx how would you convince billionaire’s to give away their money for charitable causes.
Hint: Use the concept of diminishing marginal utility to write this essay.
2) “The completion of Marriott International’s acquisition of Starwood Hotels & Resorts has significant consequences for the Middle East and Africa, in one swoop doubling the hotel giant’s operations in the region.
On Friday morning, Marriott announced that the closure of the deal to create the world’s largest hotel chain, a $36 billion giant with more than 5,700 hotels and 1.1 million rooms.
“We’re about doubling overnight, from about 25,000 rooms to about 52,000 rooms,” Marriott chief executive officer Arne Sorenson told Arabian Business in a telephone interview.
It’s 238 hotels open and I think we’ve got another 40,000 rooms and 150 hotels in the pipeline, so when those hotels open we will be fast approaching 100,000 rooms. That gives us real scale in the Middle East and Africa.”
Explain using the concepts of economies of scale why Marriott is vying the Middle Eastern and African regions.
3) Why would firms advertise? Give some examples of a market structure where firms need to advertise to gain a fair advantage over their rivals and also identify the type of market structure.
Hint: Mention both monopolistic competition and oligopoly market structures.
