In: Economics
The written report requires you to perform a microeconomic
analysis of an appropriate economic phenomenon from one of the two
economic phenomena provided below. Choose one phenomenon. For your
chosen phenomenon, conduct an economic analysis bearing in mind the
purpose and remit of this course.
The word limit is 1500 words. As a suggestion, you might want to
spend 300 words each on the introduction and conclusion and 900
words on the analysis. However, this may vary depending on your
chosen topic and personal style.
An introduction should typically outline the phenomenon you have
chosen and highlight its significance. You may present some data to
illustrate the phenomenon. Good economic analysis entails
identifying (1) the various aspects of the exchange process (the
market, the agents involved, the equilibrium outcome), (2) the
factors that can affect market outcomes over time and (3) the
welfare implications of the exchange outcome and whether there is
scope for government intervention. Use graphs, formulae and
diagrams where they help your explanations (more rigorous and
succinct) compared to words alone. A good conclusion section will
provide a look at the big picture, the significance of your
findings in a larger context, and even suggest limitations of the
models that you have used. Remember this is an economics assignment
and therefore you should refrain from writing a report that is
general and/or journalistic in nature. Phenomena : GreenHouse Gas
Emissions and Climate Change The issue of greenhouse gas emissions
and climate change has received a lot of media attention over the
last decade. While some countries have taken steps to tackle this
issue, others have chosen not to respond. Perform an economic
analysis of this phenomenon and its welfare implications. Include
in your answer the scope of government intervention in tackling
this issue.
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