EC261 Case Study #2

Assignment Description:
Class time is often dedicated to analyzing case studies in a group setting. Students should come to class having already individually analyzed the case and its associated rubric(s). Students should use class time to collaborate with other classmates and gather further peer insight in a group setting. To be clear, collaboration does not mean “copying”, but rather sharing insight, assisting, discussing, equitably working together, and more. Remember that a strong emphasis in the grading process is placed on your portrayal of your critical thinking in the submission of the case study report. It is important to arrive at the proper calculations, though it is very possible that classmates may arrive at different “correct” calculations dependent upon individual mathematical or contextual assumptions/choices. Be sure to state all assumptions made and cite every source used. Students must individually submit their case study reports. The case study reports should consist of the following components:
• Responses to the posed questions within the case.
• A summary of the microeconomic issues within the case and how firms, individuals, etc. would be affected by the situation.
• An overall conclusion of your findings comprehensively detailing proposed solutions to the above microeconomic issues.
• All references (be sure to cite in-text also).

 If you find this symbol, a response is needed.
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EC 261 Microeconomics Case Study 2- Home Care
The state of Connecticut is one of the smallest states in size, yet is one of the highest in population density. An industry has immerged within the last few decades and is commonly known as Home Care. Home Care is seen as non-medical services that can be provided to all age demographics of individuals throughout the state and country.
 How does the state of Connecticut classify medical services versus non-medical services?
 How would you quantify the demand for home care services within the state of Connecticut? Within the state of Massachusetts?
Within the state of Connecticut, the home care industry is a bustling industry with plenty of revenue to be generated. Millions of dollars a year are poured into these services throughout the state. A variety of different companies exist and it feels like a new home care agency is created every day of the week.
 What are some of the legal issues that can be derived from this industry’s line of work?
 Through the lens of an agency, what are some of the operational issues that must be considered?
 Provide some context to the likely demographics of customers from the following agencies:
 Connecticut In-Home Assistance, LLC
 Guardian Angels Homecare, LLC
 New England Home Care, INC
 Griswold Home Care
 Companions and Homemakers
 Euro Homecare, LLC
 Heart to Heart Home Care
 What are the main differences in the target markets from one agency to the next? Do those differences play into operational concerns for the agencies?

 Discuss how the home care industry relates to the supply and demand of the following:
 Nursing Homes
 Assisted Living Facilities
 Grandparents moving into their adult children’s home
 Adult children becoming care takers for their parents

 Create a demand schedule and a supply schedule for the Residence at Brookside, located in Avon CT. Create the supply and demand curves for both.

 Predict the future of the industry. How will individuals and firms may be affected in 30 years from now from all of the services, buildings, etc. that are currently in place or underway?

 A summary of the microeconomic issues within the case and how firms, individuals, etc. would be affected by the situation.

 An overall conclusion of your findings comprehensively detailing proposed solutions to the above microeconomic issues.