2. Final Written Report (Total 70 marks) For this part of your coursework you are required to write a report on the following topics related to microeconomics:

2. Final Written Report (Total 70 marks)

For this part of your coursework you are required to write a report on the following topics related to microeconomics:

??  A clear explanation of the difference between a free market economy and a mixed economy (10 marks) 

??  A clear explanation of a change in quantity demanded and a change in demand (10 marks) 

??  A clear explanation of income effect and substitution effect (10 marks) 

??  A clear explanation of consumer surplus and producer surplus (10 marks) 

??  A clear explanation of the difference between normal goods and inferior 

goods (10 marks) 

??  A clear explanation of the difference between indirect tax and subsidy. 

(10 marks) 

You must always use examples and diagrams to clearly explain and illustrate your points

The number of words for the report is between 800 – 1000.

Clear sections and paragraphs must be used in each topic. Information used from other sources need to be clearly referenced in your report to the original sources. You must provide a list of reference or a bibliography at the end of the report. 

Guidance Notes: 

When appropriate you must include examples, diagrams and other relevant illustration to support and explain your points. 

For this written report, you are expected to complete some research using a good range of sources. 

You must keep a record of all of your sources and you must create a bibliography. If you use any paraphrasing or direct quotations in your report, these must be fully referenced within the body of the report. 

Remember that it is always a good idea to use different sources when conducting your research, not just the Internet. You should also be looking at books, journals, periodicals etc.

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