In this assignment, you will apply your economics knowledge to explain and interpret a recently published economics arti

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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 article’s 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.bccampus.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 microeconomics Important Note Avoid topics related to
macroeconomics. These topics include unemployment, inflation, trade
policy, national income/GDP, income inequality, poverty, etc. Good
microeconomic topics often focus on decisions of firms (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. 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”, Jeff Hendriks, The Canadian
Transporter Magazine, March 10, 2019. Include your name, course and
date below the article’s name. B. Content. Your paper should have
the following four content sections: Introduction and
identification of key economic issues and concepts. In this section
of the paper, explain in summary the intent of the article and how
the author fulfils this objective in the article. Clearly identify
the main economics topic or issue raised in the article, the
article’s title, date of publication, publisher and author. Note
that the article must have been published within the past year from
a reputable source. While the author will elaborate the issue, you
will identify the key economics concept(s) attendant to it. That
is, what economic principles, theories or concepts apply to the
article? Relevance of the economic issue. In the second section you
will focus on explaining the importance of the economic issue(s)
cited in the article and its relevance to individuals, firms,
and/or government. Most economic issues have implications for
consumers, or producers, or to the nation as a whole. Examine and
discuss the possible meaning and importance of the issue to these
groups. Academic explanation of the economic concepts. This is the
core section of the paper where you will use economic theory and
illustrations (usually graphs) to academically explain the economic
principles or theories on which the article is based. At least one
explained graph is required in this section. You will utilize your
knowledge of economics to connect what the author is presenting in
his/her article. In other words, use the appropriate economic
theory to explain the author’s main point. The key to this section
is applying your economics knowledge (concepts, graphs,
illustrations) to help clarify to readers what the article is
saying. Conclusion and reflection. Summarize and reflect on what
you have learned from reviewing and interpreting the article. How
is this knowledge important to you? What other implications can you
derive from the article? 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 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. 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. Hand-written and scanned works, pdf. files, jpg. files,
as well as files posted in Google drive, will not be accepted or
graded. 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.
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. 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.