fter you have completed all of the learning assignments for Modules 5-8, it is time to apply what you have learned to a real-world market failure situation of your own choosing.

For this, you first need to identify a recent news article (one that was published within a month of your submitting your answer) that describes some sort of market failure situation (based on externalities, or public goods, or some sort of imperfect competition, etc.). Your task then is to write a short essay outlining the relevant market failure issues at hand using appropriate diagrams that make the nature of the market failure at hand clear.

This assignment is intended to allow you to demonstrate your understanding of the economic concept of market failure. For this you need to demonstrate (1) that you were able to identify a suitable situation of market failure, and (2) that you are able to write a report which demonstrates your mastery of basic concepts at hand.

Your report on the issues that you identified should be submitted as a single word or pdf file (that includes all the relevant diagrams, etc.) that you must upload in Canvas.

PS: BTW market failures must, by definition, come from markets. Thus, an inefficiency in allocation caused by government action cannot be considered "market failure" since it is neither intrinsic to, nor caused by, a market. This may seem too obvious to belabor, but since I have now seen a few example of this confusion, I just wanted to reiterate that "market failures" and "government failures" are very different things and this practical assignment is only aboutmarket failures.