This assignment requires you to connect course content to a real-world, current event. The goal of the assignment is for you to learn demand and supply analysis more thoroughly. You will work in teams of 2 or 3 and complete a paper and presentation according to the instructions below.
First, you must select a current article from The Wall Street Journal, Business Week, The Economist, or any other credibly written conveyor of news. The article must in some way relate to a change in one of the determinants of demand and/or supply or the imposition of a tax, price ceiling or price floor. The article must be current (published within the past 4 months).
Using this article you will write a paper and present this paper to the class. Each of the members of the group must participate in the presentation and orally present at least some portion of the paper.
The total text of your paper should be no more than 5 typed pages in length, double-spaced. Divide your paper into the following sections. The formatting is worth 1 point.
Title Page (2 points): Be sure to include the names of every member of your group.
I. Introduction: (5 points)
Provide a short summary of the article you have selected.
II. Primary Economic Elements (10 points)
Identify and discuss the key economic elements of the article. For example, tell if your article involves a change in a determinant of demand or supply, a tax, or a price control.
III. Graphical Analysis (10 points)
Graphically analyze the impact of the economic factors you have discussed in part II. That is, what is happening to the equilibrium price and quantity in the market? In addition to graphical depiction, you must provide a verbal interpretation of what is happening on the graph. How are producers and consumers reacting?
IV. Conclusions (5 points)
Explain the overall impacts of the change in the determinant, tax or the price control. What is the impact...