Individual Essay - Part 1 4 Jul 2022 - 03:00 26 Aug 2022 - 23:00 26 Aug 2022 - 23:00 100 Summary: Instructions and Submission . Due no later than 11:00 p.m. on Friday of Unit 8 Worth 15% of final grade Late Submission Policy These assignments are subject to the Late Submission penalty policy, namely 5% per day for three days. . This page will close and will not allow further submissions after this Late Submission period has expired. . In the event of an emergency preventing you from submitting within this time frame, special permission must be obtained from your instructor. Documentation substantiating emergency is required. In such a circumstance, if the extension is granted, the professor will reopen the submission function for you on an individual basis. Please do not email your submissions to your professor, either before or after the due date; all coursework should be submitted through the online course (Moodle). Description In this assignment, you will apply your economics knowledge to explain and interpret a recently published economics article. You will research and select one article published within the past year that discusses an economics issue from a list provided and explain the economics of the article. The article may be obtained from a major business or economics journal, magazine, or newspaper (The Economist, Wall Street Journal, Businessweek, Times, Fortune, etc.). Using your own words as much as possible, explain the main points being made by the articles author, the economic principles used by the author to support his/her argument, and the implications of the story. To do this, you will be applying some of the key economics concepts you have learned in the course to explain the meaning and relevance of the economics story to individuals, firms, and/ or industry. Objectives . To identify key economic issues in real world scenarios affecting individuals, households, and firms. . To apply the appropriate economic concepts and principles to understand, explain, and interpret the decisions made and actions taken by the main economic agents. . To evaluate and reflect on the implications of changes in economic conditions on the behavior and decisions of households and firms. Required Materials Hutchinson, E. (2017). Principles of microeconomics. University of Victoria. https://pressbooks.bocampus.ca/uvicecon103/ Recently published Business/Economic journal articles from Yorkville University Library or other academically credible online source. Major Topics Covered . Supply, demand, and equilibrium market price Elasticity Specialization and trade Consumer behaviour Production in the short and long run periods . Competitive markets . Monopoly, cartels, and price discrimination Another topic related to microeconomicsImportant Note Avoid topics related to macroeconomics. These topics include unemployment, ination, trade policy, national income/GDP, income inequality, poverty, etc. Good microeconomic topics often focus on decisions of rms (production costs, market supply and demand, competition, etc.) and decisions of individuals (opportunity costs, demand for products, consumer behaviour, etc. Instructions and Requirements Your topic must align closely with one of the topics listed above. Papers submitted on topics outside this list will not receive credit. The Paper comprises the following required elements: A. Cover Page. On your Cover Page, clearly state the economic topic you will be discussing from the list above and its number. Example, Topic 7: Monopolies, cartels and price discrimination. 1. Below the economic topic, state the name of the article, date published, author and publication name. Example, \"Public outcry over variable pricing schemes in Canada's public transportation\Note: Clearly indicate these four content areas above by using them as section headings in the paper. Do not use any additional or different headings. C. References. Your paper should have a minimum of five credible references listed as sources for this paper. D. Appendices. If necessary, to show illustrations, tables, diagrams, data, etc. Submission 1. This research paper should be submitted as ONE document in Microsoft Word (.doc or .docx) only, in APA format, and not created with any other software that has to be converted to Word format. Any tables, spreadsheets, graphs, diagrams, etc. should be copied into the Word document. 2. The paper should be a maximum of 7 pages double-spaced (not including cover page, table of contents, and references page), using Times New Roman 12pt font, and comply with APA style. Correct use of APA citation and referencing methodology is required. No abstract is required. 3. Hand-written and scanned works, pdf. files, jpg. files, as well as files posted in Google drive, will not be accepted or graded. 4. Do not copy illustrations, tables, diagrams, etc. to substitute for your written analysis. These elements should be placed in an Appendix area at the end of your paper if necessary. 5. Your writing should accurately record sources of material cited, quoted, paraphrased or summarized in the appropriate places as well as in a References list at the end of the paper. Your paper should be checked for plagiarism, with no more than 30% of the content matching similarity with Internet sources. 6. The resubmission of papers from previous courses (whether or not taken at Yorkville University), partially or in its entirety, is unacceptable, and will result in a grade of zero for this assignment. Evaluation Activity/Competencies Demonstrated Grade Quality of introduction /10 Relevance of the economic issue to the microeconomic agents /20 Academic explanation of the economic concepts relevant to the economic issue(S) 130 Quality of research sources (valid and robust) /10 Writing proficiency /10 Quality of conclusion /10 APA compliance /10 Total 130