For your first assignment, you will be taking a real life event and analyzing its effect on a market of your choosing. You should look for how this event might affect one of the demand or supply shifters we have discussed in class. Furthermore, you analysis should include a chain of causes and effects which is at least two effects long. For instance: Unrest in Egypt slows down Suez Canal > Shipping costs go up for gas > Price of gas goes up Cause Effect Price of gas goes up > demand for cars goes down In these examples, the effects happen Cause Effect through a supply shifter and a demand shifter You, of course, cannot use parts of this example for your own work. In the example, you can see that there are two clear causes and effects. In every step, you should specify the effects on both quantity and price, even though I only talked about price in the example. Key points for the assignment: Use an event from the news in the past 6 months (a year AT MOST) Include a link to the article about the event at the end of your assignment. . . Include at least two stages of cause and effect Clearly identify the cause and effect in each stage Explain WHY the cause creates the effect using one of the demand/supply shifters from class Limit the length of the assignment to 2 pages double spaced. You may find that you can complete the assignment in a couple paragraphs and less than two pages. That's totally fine, as long as you meet the other criteria. DO NOT INCLUDE GRAPHS IN YOUR HOMEWORK! This is a chance to explain IN WORDS what you've learned so far and how it relates to something in the real world