Economics

ECON 1020 with Cole

ASSIGNMENT GUIDELINES

2. Summarize the news article. (4-5 sentences)

3. Economic analysis – Supply and Demand

Written analysis: Identify the market and state which determinant of demand or supply is changing. Identify the predicted shift of demand or supply and subsequent impact on equilibrium price and quantity. Compare the new equilibrium price and quantity to the initial equilibrium price and quantity. (5-6 sentences)

Graphical analysis: Graphically show this shift (include an image within your work).

Identify the immediate shortage or surplus. Identify the predicted impact on equilibrium price and quantity. (Your graph should complement your written analysis.)

4. Fact check – is your economic analysis consistent with what the reporter stated in the news article? If yes, what does the reporter write to confirm this? If no, where did the reporter go wrong? (3-4 sentences)

5. Provide complete citation information and a link to your article.

SUBMISSION GUIDELINES

1. Save your work as one document with the title (your first name) (your last name) ECON1020 Homework3. For example, Dr. Cole would save her work as “Paula Cole ECON1020 Homework3”.

2. You can add a hand drawn graph by taking a photo or scanning your work.

3. Save your work as a PDF file.