1) Choose a topic from Micro or Macro economics that matters to you and find a recent news article covering that topic. (PREFERED MICRO –ECONOMICS)
2) Evaluate the article using Economic concepts. You should include
The essence of the story (2 to 4 paragraphs): Introduce the issue, who is interested in it and why.
The economic analysis (8 to 10 paragraphs): Explain how you can present the issue in terms of economic concepts and theories you have learnt in class.
Explain your view (2 to 4 paragraphs): Explain what actions you would recommend to the key players and/or policy holders.
Explain how the above analysis supports your conclusion (1 to 2 paragraphs).
3) You may provide graphs/charts/diagrams where necessary to enhance your presentation style.
4) You need to attach a copy of the article with your assignment
Marking guide sample
1) Critical thinking skills
2) Clarity of writing and ability to express your ideas
3) Ability to use economic concepts and theories in the context of the news article
Examples of microeconomic concepts and tools you could use:
Demand and supply
Indifference curves/budget constraints
Marginal revenue (or marginal benefit)/marginal cost curves
long run/short run costs and industry supply
monopoly profit functions
externalities (external benefit/cost)
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