[Answered] ECON312N Week 2 Discussion: Demand, Supply, and Market Equilibrium for Labor and Wages

Course 

ECON312N Principles Of Economics

Required Resources
Read/review the following resources for this activity:

  • Textbook: Chapter 3, 4, 5
  • Lesson
  • 1 source including local wage information (can be the BLS site)
  • Minimum of 1 scholarly source (in addition to the textbook)

Optional Resource

Introduction
Research the local job market including the wage for the position you want when you graduate. Data is available from the Bureau of Labor Statistics; however, you can use other wage information sources. In your post, address the following:

  • Indicate the position, the national average wage, and the wage in your specific geographic location.
  • Examine the factors that influence the wage.
    • What specific local factors influence the wage and in what direction?
    • What national factors influence the wage and in what direction?
  • Was the data what you expected? Why or why not?
  • How does this information impact your choices about your future career and employment or relocation plans?

Follow-Up Post Instructions

Respond to at least one peer. Further the dialogue by providing more information and clarification.

Writing Requirements

  • Minimum of 2 posts (1 initial & 1 follow-up)
  • Minimum of 3 sources cited (assigned readings/online lessons, a local wage source, and an outside scholarly source)
  • APA format for in-text citations and list of references

Grading
This activity will be graded using the Discussion Grading Rubric. Please review the following link:

Course Outcomes (CO): 1, 5, 6, 7

Due Date for Initial Post: By 11:59 p.m. MT Recommended by Wednesday
Due Date for Follow-Up Posts: By 11:59 p.m. MT on Sunday

Posts must be on separate days.

ANSWER

Registered Nurses in Madison Wisconsin make approximately $82,330 a year. The hourly wage is around $39.58. The national salary is $73,550 a year (U.S Bureau of Labor Statistics, 2021). The wage can change depending on specialty. Different positions such as AM, PM, NOC and 8hr vs 12hr shifts change the rate of pay. Some factors that affect pay in Madison are education, experience, and past history with Madison hospitals. Nationally there are different factors that affect a nurse’s hourly wage.…..please click the icon below to purchase the answer at $5