Assignment 1: Principles of Economics
Write a two to three (2-3) page paper in which you:
- Identify a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-4.
- In the first two (2) paragraphs, identify at least four (4) key points that the article highlights.
- In the next three to five (3-5) paragraphs, apply two (2) of the following economic concepts (supply and demand, market structures, elasticity, and costs of production) to the key points that you highlighted in Question 2.
- In your concluding paragraph, state whether you agree or disagree with the author’s comments. Provide a rationale for the response.
- Use at least three (3) quality resources in this assignment with one (1) being your article.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Apply the underlying principles of economics and the economic way of thinking to assess market issues and make business decisions.
- Analyze the dynamics of supply and demand to anticipate market equilibrium.
- Analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies
- Describe the impact of various forms of competition on business operations with emphasis on perfect competition.
- Use technology and information resources to research issues in principles of economics.
- Write clearly and concisely about principles of economics using proper writing mechanics.