Reference no: EM13994360

Actually PART B AND C it's the most important. Part D I can deal with it, and PART A if the time is not enough I can handle it myself. But part B AND C must be done/PART D is work cited and it's not counted in 900 words. PART ABC together is 900

This is my economic ISP.

It requires an analysis of an real event that happened in Canada recently. I decided to choose the price of CALGARY'S real estate market.

There are actually three parts that we need to deal with: a summarize of the event, the effect on economic indicators and equilibrium of a good or service.

Part A: Real Event in Canada

The one event that you'll pick must affect the equilibrium of a good or service within Canada in some way. When you pick an event, see whether it changes the supply demand or supply of a product in the Canadian economy. If the event doesn't have an impact on the demand or supply of a product in Canada, then you should choose a different event.
A few requirements:

• The event must have taken place between November 2015 and March 2016.

• You must use at least 3 different English Source. Note that Wikipedia, Google, Baidu or similar websites are not acceptable sources.
If you're not sure if your sources are acceptable or not, then make sure to ask your teacher about them.

A good way to start the research on this project is to read the articles in the business section of newspapers or magazines which are easily available. A few examples of such are below.

American newspapers / magazines:
• Forbes
• Money
• The New York Times
• The Wall Street Journal
• The Washington Post

British newspapers / magazines:
• The Daily Telegraph
• The Economist
• The Financial Times
• The Spectator
• The Sunday Times

Canadian newspapers / magazines:
• Frasier Forum
• The Gazette
• The Globe and Mail
• The Toronto Star
• The Toronto Sun

Once you 3 sources that confirm the event, you should start to summarize the event in your own words. Don't copy and paste from the articles! Read the articles, think about what they say and then write about what actually happened or is currently happening. Use in-text citations.

Part B: Effect on Economic Indicators

You've learned numerous topics in the microeconomics of this course. In the project, you'll have to write about a few of them and correctly describe how they change given your event.

What kind of economic indicators or topics can you write about?
• Scarcity
• Opportunity cost
• Economic systems
• Innovation
• Factors that have an effect on demand: number of buyers, income, price of related goods, tastes, consumer expectations
• Factors that have an effect on supply: number of sellers, input prices, technology, change in nature, producer expectations, prices of related products
• Sales
• Elasticity
• Price ceiling
• Shortage
• Price floor

• Surplus
• Total product, average product or marginal product
• Total cost, average cost or marginal cost
• Total revenue, average revenue or marginal revenue
• Profit maximization or loss minimization
• Market structures: monopoly, oligopoly, monopolistic competition or perfect competition
• Concentration ratio
• Game theory

Note that you don't have to write about all or most of the listed indicators in your project. You should select what you think are the most relevant indicators and then correctly describe how they will change. You must underline each indicator in your project. Also, again, remember to use proper in-text citations in your project.

You should not write in detail about the change in demand, supply or equilibrium of your chosen good or service in this portion of the project. You will do that later in Part C.

Part C: Effect on Equilibrium of a Good or Service

This part of the project is simple. You must write about:

• Demand. Does it shift left, right or remain unchanged?

• Supply. Does it shift left, right or remain unchanged?

• Quantity. Does it increase, decrease or it cannot be determined how it changes?

• Price. Does it increase, decrease or it cannot be determined how it changes?

You should very briefly explain why and how the equilibrium changed. Note that your answer here should logically follow from what you've written in the earlier part of the project.

Part D: Works Cited

The Works Cited page will be the very last part of your project. You must list each and every source you used in writing your project paper. You will use the proper MLA format to write the Works Cited page. Note that the same MLA format is used in the English courses at CIC.

Resources about the MLA format will be available in class. It is your responsibility to check them and make sure that you are following the proper format in your project paper. You can also get your Works Cited page checked by your teacher or the English tutors before the due date.