Reference no: EM132406482 , Length: word count:200
Assignment -
Economics concepts are very useful in explaining real world issues. In order to enhance your learning, and to make your studies more interesting and useful, it is strongly recommended that you follow the latest economic debates through the media. This task will assess your ability to apply economic concepts to real-world situations. It comprises of a media review in which you are required to review and critically analyse at least one media article (can be from a newspaper, magazine or any printed media) by using economic concepts and theories.
IN A GROUP OF NOT MORE THAN 3, SEARCH AT LEAST 1 MEDIA RELEASE ABOUT A GOOD OR A SERVICE. THEN, IDENTIFY 3 CONCEPTS/TERMS AS LISTED IN THE TABLE BELOW TO EXPLAIN, APPLY, ANALYSE AND ILLUSTRATE.
REPORT REQUIREMENTS:
PART 1 (introduction: Summary and purpose of report) - ONE PAGE ONLY
Choose one (1) article and prepare a summary of about 100 words. The selected article should be current, that is, from JUNE 2019 ONWARDS. Briefly explain how this issue/article is related to economics. Elaborate the introduction by indicating the aim of your report. Attach the full article in Part 3.
PART 2 (Content: 3 Concepts) - ONE TO THREE PAGES
Study the article and apply any three (3) microeconomic terms/concepts as listed below. Discuss the relevance of the news item to the three (3) concepts you have chosen. You are expected to explain as best possible the concepts or theories presented in lectures with the material in the article. You are to provide a minimum of three (3) proper references and/or citations. This section should not exceed three (3) pages.
Microeconomics concepts/terms -
- Scarcity
- Opportunity cost
- Types of resources used to produce
- Demand
- Supply
- Market Equilibrium
- Government intervention/price regulation
- Elasticity
THE THREE CONCEPTS THAT WERE USED ARE:
1. Supply
2. Demand
3. Market Equilibrium
PART 3 (Appendix: Graph(s) & article)
Illustrate and describe the issue from the article using at least ONE economic diagram. This section should be approximately 200 words - ONE PAGE ONLY.
Note: Plan the layout of your report. The report should be self-contained and self-explanatory. The report must emphasize the concepts you choose. The report should effectively explain all three concepts. The report should be typed and justified with 1.5 line spacing. All graphs, tables, figures and media should be included as appendix (Part 3).
Reminder: This assignment will be assessed on the following broad areas. A detailed rubric for this assignment can be found at the back of this booklet.
1. Use of appropriate article, economics illustration and organization of ideas.
2. Clearly explain/present at least three (3) core concepts relating to the article.
Article - Global Door Access Control Readers Market 2019 Top Manufactures, Growth Opportunities and Investment Feasibility 2024.
Need PART 3 (Appendix: Graph(s) & article) only.
Attachment:- Assignmewnt Files.rar
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