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ECO2101 Microeconomics
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ECO2101 Microeconomics

For each analysis, highlight the key facts of the newspaper article and analyse them using Microeconomics concepts in Lectures 1 – 4. For example, you may write on the following:
a) Scarcity, choices and the use of production possibility frontier.
b) Determinants of demand and supply for the product or service selected.
c) Compute and analyse the price elasticity, cross elasticity or income elasticity of demand/supply of the product or service selected. Assumptions on price and quantity may be made.
d) Describe the impact of the newspaper article (an event or decision such as rise in oil prices), on the equilibrium price and equilibrium quantity of the market.
e) Analyse changes in demand for or supply of the product or service selected. This includes shortages or surpluses of the product or service selected.
f) Use a news article and determine elasticities of demand (YED, CED, PED) or supply (PES).

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