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. Toeffectively engage in a debate you require some understanding of the topic being debated as well as anunderstanding of the tools and the language of economic analysis and reasoning. The aim of this report isto develop these skills by critically analysing an economic news article. This assignment should befocused only on microeconomics topics covered in lectures 1-5 (Thinking like aneconomist, 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 toMICROECONOMIC issues published after 1st Jan. 2023. The article should relate to oneor more topics in microeconomic theory (lectures 1-5) that will be discussed in thelectures /workshops. You have to critically analyse the article using the economic theory and toolslearnt in the course.

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

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

4.You are required to refer to some other sources like some more recent articles orrecent 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. Asa rough guide, your reference section should have a good 8-10 references. This part will helpmeasure 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.