The Scenario:

The Scenario:
You are back at your plant the Monday after the Dangerous When Wet leaking tanker incident happened, and you are telling your fellow HazMat Team Coordinator how you handled the situation. Before he has a chance to offer his opinion, a call comes in over your radio that a forklift has punctured a 55 gallon drum at the door between the oxidizer storage area and the production department. There is a spill, and no one is injured; however, the production employee does not know what was spilled. You make an immediate page to all emergency response team members in the area, and then you head out the door to the scene with your fellow HazMat Team Coordinator (the production department chief engineer). While en route to the scene, you call the plant manager and apprise her of what you know and that you will report back as soon as you have more information.
The incident command center can either be the production office or the conference room near the plant manager’s office. In this case, your first choice is the production office. The storage area building has multiple storage bays for oxidizers, flammables, acids, and bases. When you arrive near the scene, you find the punctured drum on its side against a pallet of three other drums and a very small fuming cloud of vapor developing from the area, but you cannot tell its exact point of origin. It turns out that the drums are just inside the
storage area building. You can see that the drums on the pallet have flammable labels. The fourth flammable drum has been knocked off the pallet and is also lying on its side next to the punctured drum. The punctured drum has not been identified at this point – it is a strong oxidizer, strong acid, or strong base raw material.



1. How do you proceed?

2. What information are you after, how do you gather it, and what instructions do you provide for your team?

3. What hazardous situations are you and your team facing? If you need to, you can differentiate these situations depending on the punctured drum being a strong oxidizer, strong acid, or strong base. Develop a brief priority list and a brief action list for what you should do.

4. What, if any, restraints should you exercise?

5. What advice would you give to any other individuals coming upon the scene?

6. Do you call for an evacuation of any, or all, of the plant itself? There are approximately 180 employees currently on site during this first shift – located in different areas around the plant (i.e., administrative offices, shipping and receiving, raw material bulk chemical storage, finished product bulk chemical storage, production operations, packaging operations, labs, and production/engineering offices).

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This is major research paper and the scenario which is the guide to your assignment.  Read it carefully and follow it closely.  Most elements are contained in the scenario. Here are some additional instructions:
1.      You are to choose one industry for your analysis. 
2.      Your report can include any information you deem relevant but should focus on the effects on the industry from the pandemic and also from subsequent government action. 
3.      You must use the tools such as supply and demand, marginal analysis and cost and benefits to analyze decisions made by households and businesses that has been developed throughout the class ECO 202 but be selective—only use the ones that are relevant to your analysis. 
4.      Analysis is the most important part of this assignment. This is what your assessment will be based on. 
Good writing structure—especially subheadings—and proper citation methodology are MANDATORY.  THE SCENARIO
You are an economist employed as an industry analyst for NOVA Securities, L.L.P., an investment firm structured as a partnership. Your job is to analyze one specific industry and write a report which then can be used by the firm’s Executive Committee to decide where to steer clients’ investments. Your job is not to try to win the partners on the Executive Committee over to your industry or to market it in any way. Your function is to provide objective, detailed, and accurate analysis covering the critical factors that are relevant to an appraisal of the industry. The Partners expect pertinent information apprising them of where the industry was (snapshot, pre-pandemic), where it is (the heart of the analysis), and where it’s going (informed predictions) .
The Partnership is small relative to giants like Goldman Sachs or Morgan Stanley. The firm’s resources are limited and can’t support original quantitative and qualitative positive analysis. Therefore, you are expected to rely on the comprehensive research of others; as long as it’s precise, objective, and reliable work, conducted by highly regarded analysts at reputable institutions. The Partners have confidence in organizations such as universities, non-profit think tanks, business-analysis consultancies, trade associations, the Federal Reserve Bank, government research agencies such as those that reside in the Commerce and Treasury Departments, non-partisan Congressional bodies like the Congressional Research Service (CRS) and the Congressional Budget Office (CBO), etc. You are instructed to rely on these kinds of resources: reports, papers, published articles, research summaries from websites, analytical blogs, podcasts, interviews with industry executives, government data, and any other outlets for solid, relevant information. You are aware that analysts have been dismissed for relying on popular media and shortcut websites like EconomicsHelp, Investopidia, and their close cousins.
The Partners have no patience for long-winded reports that are bloated with extraneous, off- topic information. They expect reports that are concise, disciplined, and focused. They also have no tolerance for writing which is sloppy, illogical in structure, and hard to follow. In addition, as they read reports, they want to know where your information came from. Most partners went to elite colleges and universities where proper citation methodology was mandatory with stringent penalties for violations.


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