In ECON 1002's first week, the discussion post names one personal spending trade-off, prices its opportunity cost beyond the sticker price, and closes on a question for classmates. Searches like "econ 1002 week 1 assignment example", "econ1002 week 1 sample" and "econ 1002 week 1 example" land here.
What a finished ECON 1002 Week 1 discussion post looks like
Three paragraphs and roughly three hundred words make up the post, with two short replies beneath it. Its opening states the choice: an illustrative $300 spent on a refurbished commuter bicycle rather than on twelve monthly bus passes costing about the same. Paragraph two defines opportunity cost as whatever the next-best use of that money would have delivered, then lists what the passes carried besides rides: commute reading time, dry winter arrivals, no repair bills. A lock bought the year before is named as a sunk cost that should not have tipped the decision, and the author admits it did. A closing paragraph admits the assumption underneath, that an hour of cycling is worth more to this author than an hour of reading. Last comes a question for classmates about purchases of theirs that hid a similar cost.
How a ECON 1002 Week 1 example is structured
Choice first, since classmates skimming the board judge from the opening line whether the post is about anything particular. The definition arrives only after the reader knows what it will be applied to, so it never sits on the page as a glossary line lifted from the chapter. The list of forgone benefits is the center of the post and gets the longest paragraph; its items are deliberately non-monetary, since the week's lesson is that a price tag understates what a choice costs. The sunk-cost admission sits inside that paragraph rather than in its own, so it reads as a correction the author made while thinking, not as a confession staged for credit. The assumption comes last among the claims because it is what a classmate can most usefully dispute. The closing question points replies at their own spending rather than at the author's bicycle, which keeps the thread moving.
A purchase with a rival
The bicycle and the year of bus passes cost about the same illustrative sum, so the post can compare what each bought rather than what each cost at the register.
Costs that never reach a receipt
Time to read on the bus, arriving dry in winter and never paying for repairs are listed as the pass's hidden benefits, the part of opportunity cost a price comparison misses.
The lock that should not count
A lock bought the previous year is identified as sunk. The author concedes it nudged the decision anyway, which shows the concept applied honestly rather than recited.
One assumption, stated
The choice rests on the author valuing an hour of cycling above an hour of reading; the post says so, inviting a classmate to weigh it differently.
Two replies that add a cost
One reply raises the hours spent on maintenance; the other asks whether the bicycle's resale value lowers its true cost, a point the original post had not priced.
Where marks go in ECON 1002 Week 1
Posting on time secures the participation points, and they are the smallest part of the grade here. The larger part asks whether the forgone option is named and counted in more than dollars; a post that defines opportunity cost well and then simply describes a purchase has recited the chapter. Mixing sunk and marginal costs is the error instructors circle most often this week, because it shows the idea learned as vocabulary rather than as a way of deciding. Naming an assumption earns a small, dependable bonus in most rubrics, since the course keeps coming back to that habit. A reply gains when it adds a cost the classmate missed. Posts drifting into budgeting advice for others lose ground: the task asks for analysis of one choice, not counsel.
Get a ECON 1002 Week 1 example written to your instructions
Send the week's prompt and rubric along with the trade-off you have in mind, even in a sentence, and the post is drafted around that choice, first one free within 24 to 48 hours. The bicycle, the bus passes and the $300 are a composite sketch; nobody's actual budget sits behind them.
ECON 1002 Week 1 questions, answered
Does my post have to use a real purchase of my own?
Most prompts in the first week ask for one, and a small, ordinary choice works better than a dramatic one. The example uses a bicycle bought instead of bus passes, drawn as a composite so no one's finances are described. You can keep the amounts vague or rounded; what the rubric checks is whether the forgone option and its non-cash costs are named, not how much was spent.
Is a sunk cost the same thing as an opportunity cost?
No. A sunk cost is already spent and cannot be recovered whatever happens next, like the lock in the example. An opportunity cost belongs to the choice still being made: it is what the next-best option would have delivered. Economics treats only the second as relevant to a decision. Posts that let a sunk cost justify a purchase are common in this week, and naming the slip openly reads well.
Will the sample tell me whether my purchase was a good decision?
No. The post analyzes a choice using the course's vocabulary; it does not judge anyone's spending or recommend what anyone buys. The example's author reaches a verdict about their own bicycle only in terms of the assumption they state, and a classmate who values time differently could reasonably disagree. That openness is what the thread is built to produce, and it is where your replies find something to add.