Principles of Microeconomics – Term Project (7% of Overall Grade)

“Econ 2302-002 Project”

Pick 2 events of your choice from recent years’ news headlines, and for each one separately,

– Mention the source of the news and state, clearly and in detail, what the event is.

– Explain what good/service or industry will be affected by the event. If there are multiple goods/services or industries that are impacted, just pick one that you think is impacted the most.

– Explain whether the demand will be affected, or the supply, or both. What will be the direction of the change?

– Explain how the equilibrium price and quantity of the market will change (include the graph)

– Explain how consumer surplus and producer surplus change as a result of the event.