Find a news article that highlights the role of supply and demand for a market. Watch the front pages and business pages of major newspapers. For example, how could you use your knowledge of supply and demand to model the effect of publicity about E. coli on the demand and supply of eggs or spinach in the U.S.? Why would Accenture drop Tiger Woods (“Go ahead, be a Tiger”) as a celebrity spokesman? (You cannot use these examples, by the way—find something else.)
Your assignment must be typed and include the following:
1. Provide a copy of the article and put a formal reference citation at the bottom of your report (5 points).
2. Describe the nature of the problem affecting the supply and/or demand for a product. Link your discussion to the determinants of supply and demand, and use your knowledge of economic theory to predict what would happen to equilibrium price and quantity. A supply and demand graph is required…if you cannot graph your analysis, choose another article! (15 points)
3. Spelling and Grammar (5 points)
Please limit your assignment to no more than 350 words (about a page and a half, double-spaced). Use the word count feature on your word processor—this page has about 525 words.
1. Your article should come from a major news source; I am defining those as the New York Times,
Wall Street Journal, the Economist, Bloomberg News, or either of our two statewide newspapers, the Salt Lake Tribune or the Deseret News. If you find an interesting article in another source, search one of the six sources above for a similar piece. The article should be recent, published after July 1, 2013. It should be a news article, and not an opinion piece (e.g., Paul Krugman’s column in the NY Times) or an advertisement.
2. The goal of the assignment is to apply supply and demand analysis to basic goods and services. Avoid topics associated with the stock market, stock prices, or the financial crisis that led to the Great Recession. The issues involved in these stories are often extremely complex and beyond the scope of this course, and frequently result in very low grades. If you have a question about your topic, ASK!
3. A librarian can help you search for articles and advise you of the proper citation for the article, as well as help you determine whether you have found something that is truly a news article. Librarians can be found at the Reference Desk on the left as you enter the Merrill-Cazier Library (797-2678).
4. If English is a second language or if you find writing difficult, please make use of the USU Writing Center. You can schedule appointments with them. http://writing.usu.edu/
5. Any paper that plagiarizes the original article (or any other article) will receive a score of zero. If you are unsure about what plagiarism is, please review the materials at this site.
6. I WILL NOT ACCEPT SUBMISSIONS BY E-MAIL. Bring them to class on October 10, or slide it under my office door before 5 p.m.
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