Help me study for my class. I’m stuck and don’t understand.
Use this format for your Unit 3 Discussion
Identify which article you will use for the economic analysis and which article you will be using for the non-economic analysis.
Causes of the crisis
List the causes of the crisis. You do not need to provide detailed economic analysis here; none of us are economists and the goal of this discussion is to see why analytics can fail, not to judge financial policy decisions. List ways that competition may have played a part in this. You should be citing from both articles to provide a multi-dimensional analysis.
Why people failed to prevent the crisis.
This is not the same as listing the causes, for example, the cause of poor tasting meals in a restaurant may be running out of fresh ingredients, but the reason the situation came up at all may be poor inventory control and tracking. When answering this question, in addition to your other arguments, also refer to the article you read in Unit 2 discussion and identify one decision trap that you think was at play in the crisis.
Remember that the people involved in these crises are very smart and experts in math and statistics. Why did they fail? A common student error here is to say "they should have looked at the numbers, and then they would have seen..." Well, they did look at the numbers, and they did do various analyses- you need to go beyond “they did not know what they were doing.” The world is more complex than this. Try to be more insightful. Could collaboration have prevented this crisis? Explain.
Would better analytics have helped?
Would better analytics have helped the crisis? If yes, how? If no, why not? This is where you analyze what you have written above and provide your well supported opinion.