Dataset - The Relationship Between Two Variables of Interest - Essay Writing - Economics Assignment Help

Assignment Task:

Task:

Topics in Microeconomics, December 2020
Coursework (Part 3)
Submit your Essay answering only 1 of the 2 questions below (all parts) in less than 600 words in total (list of references excluded).

Be organised and concise as the word limit will be strictly enforced. You will need to base your answers on the lecture notes and the relevant reading and summarize your answers in your own words. Please write down your word count.

Choose one of the two options below.

1. A) Choose a dataset or story from the news that describes the relationship between two variables of interest. Present the important facts (concisely).
B) Explain how the association between the variables does not necessarily show a causal relationship.
C) Discuss how you would try to uncover causality, using available data or a new experiment.
2. A) Find a story from the news involving a market with asymmetric information. Present the important facts (concisely).
B) What is the mechanism of market failure in this case?
C) Discuss how market failure is actually avoided in the market, or if it’s not avoided, what the government could do to prevent it.
Answer each part separately preceded by its letter (a. b. or c.)

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