ECO2101 Microeconomics

CA1 Individual Project Assessment

. This CA1 constitutes 30% of the overall ECO2101 Microeconomics course assessment.

Rationale of Individual Project

. This individual project allows you to pursue authentic learning and to apply theories taught in class to real world situations. This encourages independence and self-confidence as well as developing one’s thinking and analytical skills when working through real world situations.

Choosing Product Market for Analysis

. This project involves choosing product(s) for your project analysis, using microeconomics concepts discussed in Lectures 1 to 5.

. The product or service market can be either general or specific, local, or international.

. Some examples of product or service market:

•    Smartphones (general)

•    Apple iphone (specific brand in the smartphone market)

•    Starbuck Coffee in China (local, specific to a country)

•    Coffee (international)

Choosing Articles as References for Analysis

. Search through newspapers sources (other sources are strictly not permitted), either in print or online for THREE (3) articles based on the product market you have chosen. Articles should contain real world situations. Articles that contain analysis or researched by others should not be used. The articles must be related to the concepts discussed in Lectures 1 to 5.

. Articles must be from 1st February 2024 onwards.

. The articles selected should be in English and based on the following topics: Article 1 - Lecture Topic 1: PPF and Opportunity Cost

Article 2 - Lecture Topic 3: Market Equilibrium and Efficiency (Learning and understanding Lecture Topic 2: Demand and Supply is a pre-requisite to learning Topic 3)

Article 3 - Lecture Topic 4: Elasticities

OR

- Lecture Topic 5: Utility and Demand

. Select  THREE   (3) articles on the SAME PRODUCT (for example, all 3 articles on coffee) or DIFFERENT PRODUCTS (for example, 1st article on coffee, 2nd  article on apparel and 3rd  article on smartphone).

Analysing your Product Market

. For each article, identify the event(s) or phenomena.  Summarise these events in your own words.

. Analyse these events using the appropriate microeconomic concepts. Economic diagram(s), where applicable must be drawn to support your analysis. Reproducing or paraphrasing the article does NOT constitute an analysis.

. The following are some suggestions for the analysis:

 Using PPF concept to analyse a reduction in the production of crops due to natural disasters like earthquakes or flood (lecture 1 topic; the product can be wheat or coffee or cocoa)

 Using market equilibrium analysis to analyse the rise of price of oil due to a shortage in supply or excess in demand (lecture 3 topic; the product here is oil) or using market equilibrium analysis to analyse the changes in the price of semiconductor chips due to the high demand and reduced supply of semiconductor chips (the product here is semiconductor) .

 Using price elasticity of demand to analyse the elasticity of oil as price of oil rises due essential needs and no close  substitutability or shortage in supply and the impact on the consumer expenditure on oil consumption (lecture 4 topic; the product here is oil)

 Using utility and demand to analyse on household consumption choices (lecture 5 topic: income, budget constraints and utility)

Writing your Report

. Use Calibri Font Size 12pt.   Number your pages. Use single line spacing. Do a full justification (that is both left and right justified) of your report.

. The report should be between 1,000 to 1,500 words. Each Analysis should have at least 180 words.

. Use the template in Appendix 1 for your report format.

•    Limit each analysis to one page.

•    Begin each analysis on a new page. For example, analysis 2.1 on a new page, analysis 2.2 on a new page, and soon.

•    Ensure  consistency  throughout  the  report. For example, consistent formatting  (such  as same font type and font size, same line spacing) throughout the whole report; diagrams are all drawn using the same software such as Powerpoint and not some diagrams are drawn using PowerPoint and some using Word or Excel software.  Diagrams should not hand drawn.

Report Grading

. This is a short report. The key to a good report is to be clear and concise. Report will be graded on the  various report components, namely Introduction, Article Summary, Analysis, Diagrams, Conclusion, References as well as Report Consistency.

•    Marking Scheme

•    Penalty will be imposed for

o 20% for late submission of report (within one (1) day after the submission dateline)

o Up to 20% for use of non-newspaper sources

o Up to 20% for not adhering to dates of articles

o Plagiarism, which includes copying from student’s own report submitted previously to

SIMGE or other educational institutions, other student reports, any other sources and

copying of economics diagrams from google or other sources. Any use of chatbot or any system powered by artificial intelligence, software or otherwise is considered as plagiarism.

Submission of Report

. Submit the Word format of your report online via Canvas by 15th April 2024 11:59am.   Reports  submitted through other ways (e.g., through email or hardcopy to the lecturer or the school) will not be accepted.