The objective of this project is to provide students with the opportunity to perform a practical application of Microeconomics using a recent news article or real life personal experience. You must work closely in a team with fellow classmates assigned to you.

Students will first search through different economic news and statistics websites to find a trending economic topic the team finds interesting and relatable to class content learned through lectures, the textbook and other learning materials. If you cannot find a news article, then you can use a real life experience. The topic must be rooted in the following microeconomic concepts; Supply and Demand, Elasticity. Utility, Costs of Production, Perfect Competition, Monopoly or Oligopoly.

Using the microeconomic concepts/theories you have learned during the course, you will reveal the situation described in the news story, uncover any issues, challenges and / or opportunities and then analyze the situation using key concepts you have learned in Microeconomics. The analysis should be grounded in economic thinking.

For this assignment research a relevant economic news story from a credible site. Below are a few sites that have interesting economic news stories but where you find your article is not restricted to those sites. As a team, ensure that the article you chose can be connected back to concepts and theory we have discussed (or will end up discussing) in our class.

Econ Everyday: https://econeveryday.com/

CBC Business News: https://www.cbc.ca/news/business

Yahoo Finance: https://ca.finance.yahoo.com/

BNN Bloomberg: https://www.bnnbloomberg.ca/economics

Stats Canada: https://www.statcan.gc.ca/en/dai/btd/cen/index

Market Watch: https://www.marketwatch.com/economy-politics

Executive Summary: summarize your news article and explain what economic concept it is grounded in and why the article is important to read.

Section 1: News Article Background and Situation OR Personal Experience Background and Situation

Describe the news article or personal experience and explain what economic topic it is connected to

Topics include but not limited to: Supply and Demand, Elasticity. Utility, Costs of Production, Perfect

Competition, Monopoly or Oligopoly

Section 2: Economic Issues, Challenges, Opportunities

Describe the economic issues or challenges or opportunities

News Article Example: You may find a news article on Lululemon, and how their 2nd Quarter Sales beat

earnings - you could creatively connect this back to supply and demand or another microeconomic concept

we discussed

Personal Experience Example: You may have experienced a personal situation like when the price of gasoline

increased by 30% over a long weekend; you could creatively connect this back to elasticity or another microeconomic concept we discussed

Section 3: Analysis and Insights

Using key concepts you have learned in Microeconomics, analyze the economic issues, challenges and opportunities

Explain what your topic is all about and why should we care

If applicable, provide your insights, and/or recommendations *The analysis should be grounded in economic thinking.

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