Microeconomic Module in Demand & Supply Assignment

Assignment task

Individual Project

The purpose of the project is to provide an opportunity for students to apply the theory and concept of Demand & Supply, Scarcity, Price control, and Elasticity that you have been exposed to in the Microeconomics module to a real-world problem/challenge/opportunity they face in their daily business lives, and to discuss how the insights/theory might inform their decision-making calculus differently going forward. Students have the option to apply the chosen piece of economic theory/empirical evidence to an analysis of their own firm, or to a firm they know, or to a hypothetical firm in a real-world scenario. Students are expected to produce a paper. Note that you apply any of the listed theories /concepts (Demand & Supply, Scarcity, Price control and Elasticity) or a combination of them to your chosen piece.

Introduction

1. Problem statement: Begin by clearly identifying the problem/challenge/opportunity you face and provide some context as to the magnitude of the problem and its importance.

Background:

2. Context: Describe the business environment and product/service you are dealing with by characterizing it using some of the economic concepts we have discussed for the selected theories and concepts (Demand, Supply, Price controls, and Elasticity)

In this section, you are providing a description of the context and problem using the lens through which a microeconomist might characterize the problem to start with.

Analysis:

3. Solution: Based on your description of the challenge you face, and the characterization of your product/service and business environment, what are the potential solutions that you could suggest based on your analysis using the various aspects of the Microeconomic theory.

Conclusion:

4. Provide a conclusion by further highlighting key recommendations based on your analysis.

HAND-IN DATES

The hand-in date for these individual assignments will be announced by the EMBA Learning Support Manager. Each student is required to digitally hand in the assignment to the relevant folder on Instruction, listing the class, year, and assignment title (e.g., EMBA23– Microeconomics). The instructor is asked not to accept any direct submissions and not to engage on requests for extensions.

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