discuss recent news using microeconomic terminology|My course tutor

Posted: March 3rd, 2023

ECON 203 Project Description (Term Paper)

Due at the end of week 7

Select at least three news articles that discuss the economic concept that you chose as a topic for your term paper.

At least one news article should be dated within the previous two months.

Please note that the goal of this assignment is to read, understand, and discuss recent news using microeconomic terminology. The articles should be from an on-line newspaper or magazine. Materials posted on educational websites, like www.thebalance.com, www.khanacademy.org , and so on, are not considered news articles even if they were recently updated and contain material related to the term paper topic.

The Term paper should have the following structure:

1. Abstract (0.5 of a page) – the short description of the concepts, problems, questions discussed in the Term paper.

2. Introduction (0.5 of a page) (optional) 3. Literature Review (about 2 pages) – please compare and contrast the opinions of the

authors of the articles, present the important information, data, statistics to support your conclusions. It is important that the Literature review is written in your own words with small quotes from the article. All quotes must have references in accordance with the 7th Edition APA Style.

4. Discussion (about 2 pages) – Your task for this part of the Term paper is to analyze the issue described in the articles using the economic concepts and theory learned in this class. Refer to the course content materials and use specific economic vocabulary within your term paper. The articles you choose may not use these exact terms; therefore, it is incumbent upon you to convert the article language into economic language as is appropriate. Include at least one graph developed in our course.

5. Conclusion (0.5 of a page)

The Term paper should be the title page and sub-titles that correspond to the structure described above.

Please note the Term paper should be written in your own words. You can use short quotes from the article(s) to support your statements. However the size of these quotes should be reduced to minimum. No more than 20% of the text of the term paper should be made up of quotes. (less is better!!!).

Please also avoid copying the materials from any textbooks, including our textbook.

Please be aware that Wikipedia, Investopedia, and other on-line dictionaries and encyclopedias are not verifiable sources of reliable information, and should not be used in the Term paper. Acceptable sources of the information are: research papers, newspaper articles, and books.

Please note that this is the course of microeconomics, so you should choose the concepts related to microeconomics (not macroeconomics).

Possible concepts include:

• taxes and consumer or producer surplus • elasticity on a particular product • perfect competition • imperfect competition, such as monopolies • monopolistic competition • oligopoly • labor market, • wage determination • income inequality • poverty and public policy • another topic selected by the professor

Format of the Paper:

Written projects:

1. Must be typed, double-spaced, in 12-point Times New Roman or Arial font, with one- inch margins

2. Must have the title page in APA-7th style 3. Must have in-text citations in APA-7th edition style 4. Must have reference list in APA-7th edition style. Please note that you must reference the

data you are using for the project 5. Must be prepared using word processing software (Microsoft Word preferred)

The Term Paper must be posted to the LEO Student Assignments as a Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER FORMATS ARE NOT ACCEPTABLE, will not be reviewed or graded.

The Term Paper should be about 4-5 or more double-spaced typewritten pages (plus tables and graphs)

Please note that hand-written and scanned works, pdf. files, jpg. files, as well as files posted in google drive, will not be accepted or graded.

Please note that starting from the Fall 2020 semester the UMGC moved to the 7th Edition of the APA Style. The links to the 7th Edition of the APA Style methodology are posted in Content – Course Resources – Writing Resources.

Please note that Use of 7th Edition APA Citation Methodology is required for the assignment

The links to APA citation methodology are posted in Content – Course Resources – Writing

Resources.

In accordance with the UMUC Academic Policy, notes taken for papers and research projects should accurately record sources of material to be cited, appropriately quoted, or summarized, and papers and research projects should acknowledge these sources in the appropriate places in the text of the paper as well as in a reference list at the end of the paper, in accordance with accepted citation practices.

All works must be Word processed. Handwritten and scanned work will not be accepted and graded.

 

SOLUTION

  1. Rising inflation rates: Inflation refers to the general increase in prices of goods and services in an economy over time. This can be caused by a variety of factors, including an increase in demand for goods and services, supply chain disruptions, or changes in the money supply. Rising inflation rates can lead to a decrease in purchasing power for consumers and can impact the profitability of businesses, particularly those with fixed prices or costs.
  2. Labor shortages: Labor shortages occur when there are not enough workers available to fill open job positions. This can be caused by a variety of factors, including a decrease in the supply of workers due to demographic shifts or changes in immigration policies, or an increase in the demand for labor due to economic growth. Labor shortages can lead to higher wages for workers, as employers compete for a limited pool of talent. This can also lead to increased costs for businesses, which may have to pay higher wages or invest in automation to offset the lack of available workers.
  3. Supply chain disruptions: Supply chain disruptions occur

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