Draft a report On Microeconomic Analysis

1. Report on Microeconomic Analysis 35% 

Effective business leaders regularly contribute to public debates on key economi policy issues. To effectively engage in a debate you require some understanding of the topic being debated as well as an understanding of the tools and the language of economic analysis and reasoning. The aim of this report is to develop these skills by critically analysing an economic news article. This assignment should be focused only on microeconomics topics covered in lectures 1-5 (Thinking like an economist, Demand and Supply, Elasticity, Economic Efficiency and Govt. Intervention,Market Failure and Market Reforms).

Steps:

1. Select an appropriate research /journal/newspaper/ web article related to MICROECONOMIC issues published after 1st Jan. 2023. The article should relate to one or more topics in microeconomic theory (lectures 1-5) that will be discussed in the lectures /workshops. You have to critically analyse the article using the economic theory and tools learnt in the course.

2. Start the report with an introduction covering the issues or research questions discussed in the article Outline the theory relevant to this article (for instance if you select an article on fuel prices, o the theoretical concepts related to the issue such as demand, supply, pricing etc.). Please note ‘your outline of the theory section should have definitions! concepts from the textbook and/or authentic sources and not from web sources. So you must refer to textbook sources for section.

3.Apply your theoretical knowledge about the topic to the selected article and diagrams or use data from authentic sources to make a be discussing what the theory suggests and how this is applicable in the real-life scenario, Or you may find that the theory is not working, then find the reasons as to why the situation is not woy according to what you studied in theory. (Refer to ‘An inside look’ section at the end of each Chapter in the textbook for examples).

4. You are required to refer to some other sources like some more recent articles or recent news related to the same topic and use the additional important information from other
sources in your analysis. You should read from multiple sources and refer them in your report. As a rough guide, your reference section should have a good 8-10 references. This part will help measure the evidence and quality of your research,

5.Prepare a report with main headings as (i) Introduction (ii) Empirical analysis (iii) outline of the theory (iv) Conclusion (v) Recommendations follow (vi)Executive Summary page.