Reference no: EM132998638

Microeconomic Analysis Report

Assessment Task: Microeconomic Analysis Report

This document contains the following sections:
1. Task overview
2. Structure and Submission
3. Submitting the Final report on Canvas
4. Task Steps
5. Supporting Material

1. Task overview

• This assignment is based mainly on Block 1: The Market and Block 2: Government. Using models and theories of either (1) the market or (2) market failure and government (i.e. only material from lectures 2 to 6) perform a microeconomic analysis of one specific appropriate issue or phenomenon of your choice.

• Your task is to conduct microeconomic analysis of an issue that you select yourself, just as businesspeople and policymakers do. You will be assessed on what you learnt in the course by correctly choosing and applying definitions, methods and theories from lectures and tutorials 2-6. As this is a microeconomics assignment you should not write a general or journalistic report or use concepts from other courses not discussed in this course, including macroeconomics.

• A template document has been provided to use as your assignment document.
2. Structure and Submission

• Assessments task 2 has limit of 1500 words to be submitted on Canvas. Your submissions should be word processed and contain word count and bibliography. For every 10%-word count (not counting bibliography) over the limit you will lose 10% of the assignment marks until it reaches zero. There is no discretionary margin above this limit. There is no minimum, but you are advised to use all the words allowed for a more developed and detailed analysis.

1 Choose topic and question Look at the business and economics news for ideas for an appropriate issue. It needs to fit the purpose of microeconomics (lecture 1) - a topical, important example of resource allocation with questions you can answer by applying microeconomic methods from the lectures relevant to the assignment. State the question, why it's interesting and economically significant. Present facts or descriptive data to illustrate. The issue needs to be a specific (topical or historical) case. This means you will discuss a specific market for a product, service or factor of production in a specific context rather than a general economic issue or problem. Also make sure your topic does not fall within macroeconomics, which is not covered in this course.

2 Select your methods (concepts and models) Select the right method (i.e. microeconomic model, theory or tool from lectures and tutorials 2-6 to answer your question.

3 Explain your concepts and models Explain your method. Assume your reader needs to be explained every concept and model needed to follow your analysis, as if you are teaching your reader these.

4 Analyse your topic Apply the method to your issue. Report the different steps of your analysis and your findings. Typical analysis applies the tools from the relevant lectures to your specific case. Use relevant diagrams or models as they answer the question better than only words. If your chosen method comes with such models (e.g. diagrams or graphs), not using these in your assignment will result in a significant loss in marks.

5 Conclude Your conclusion will directly answer the question and maybe look at the big picture - the significance and limitations of your work. Provide answer to questions like: What have we learnt from your analysis for business or government policy? So what?

The objective of this assignment is to develop your independent thinking and research and prepare you for work life. Also, there is considerable scope to tailor your assignment (within the requirements above) based on your own style, chosen topic and method.

Attachment:- Prices Market Assignment.rar