ECN30305 Principles of Economics Assignment

Reference no: EM132404901

ECN30305 Principles of Economics Assignment - Taylor's University, Malaysia

Written 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 realworld 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

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).

Attachment:- Principles of Economics Assignment File.rar

Reference no: EM132404901

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