Developing Economic Analysis and Reasoning Skills through Critical Analysis of a News Article on Mic

Outline of the Theory

Effective business leaders regularly contribute to public debates on key economic policy issues. To effectively engage in debate you require some understanding of the topic being debated as well as an understanding of the tools and the language of economic analysis and reasoning. The aim of this report is to develop these skills by critically analysing an economic news article. This assignment should be focused only on microeconomics topics covered in lectures 1-5 (Thinking like an economist, Demand and Supply, Elasticity, Economic Efficiency and Govt. Intervention, Market Failure and Market Reforms).
Steps:
1.Select an appropriate research /journal/newspaper/ web article related to MICROECONOMIC issues published after 1st Feb. 2020. The article should relate to one or more topics in microeconomic theory(lectures 1-5) that will be discussed in the lectures /workshops. You have to critically analyse the article using the economic theory and tools learnt in the course.
2.Start the report with an introduction covering the issues or research questions discussed in the article.
3.Outline the theory relevant to this article (for instance if you select an article on fuel prices, outline the theoretical concepts related to the issue such as demand, supply, pricing etc.).
4.Apply your theoretical knowledge about the topic to the selected article and draw your own diagrams or use data from authentic sources to make an analysis. In this section, you will mainly be discussing what the theory suggests and how this is applicable in the real-life scenario. Or you may find that the theory is not working, then find the reasons as to why the situation is not working according to what you studied in theory. (Refer to ‘An inside look’ section at the end of each chapter in the textbook for examples).
5.Please do refer to some other sources like some more recent articles or recent news
related to the same topic and use the additional important information from other sources in your analysis. Prepare a report with main headings as (i) Introduction (ii) Outline of the theory (iii) Empirical analysis (iv) Conclusion (v) Recommendations followed by references. Please also include an Executive Summary pag