Homework answers / question archive / Microeconomics With reference to the theories with the use of wider research, you must complete an essay, which analyses and evaluates the reasons for changes in the price of the housing market in the USA between 2015-2019 Follow the below structure to explain what has happened to prices of the good you have chosen over the time period stated:   Use the model of supply and demand and provide a textual and diagrammatic explanation, using the supply and demand curves for the changes in the prices of the good

Microeconomics With reference to the theories with the use of wider research, you must complete an essay, which analyses and evaluates the reasons for changes in the price of the housing market in the USA between 2015-2019 Follow the below structure to explain what has happened to prices of the good you have chosen over the time period stated:   Use the model of supply and demand and provide a textual and diagrammatic explanation, using the supply and demand curves for the changes in the prices of the good

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Microeconomics

With reference to the theories with the use of wider research, you must complete an essay, which analyses and evaluates the reasons for changes in the price of the housing market in the USA between 2015-2019

Follow the below structure to explain what has happened to prices of the good you have chosen over the time period stated:

 

1. Use the model of supply and demand and provide a textual and diagrammatic explanation, using the supply and demand curves for the changes in the prices of the good.
2. Explain the elasticity of supply and demand of the good.
3. Discover and describe the market structure of the good and specifically if there are any cartels/price fixing activities in the industry effecting the price changes discussed.

You should use these relevant theories in your answer, but you should also refer to data and other studies where relevant.

Formalities:

• Cover, Table of Contents, References and Appendix are excluded of the total wordcount.
• Font: Arial 12,5 pts.
• Text alignment: Justified.
• The in-text References and the Bibliography have to be in Harvard’s citation style.
• Word formats are accepted.

It assesses the following learning outcomes:

• Outcome 1: Understand the relationship between economic theory and practice.
• Outcome 2: Evaluate real life situations with practical application of the acquired tools and knowledge.

With reference to the theories covered in class during Week 1 to Week 5 and with the use of wider research, you must complete an essay, which analyses and evaluates the reasons for changes in the price of ONE of the 3 following goods:

A. Crude oil between 2015 - 2019
B. Housing market in the United States between 2015-2019 C. Gold between 2015-2019

You must choose ONE of the goods and follow the below structure to explain what has happened to prices of the good you have chosen over the time period stated:

 

 

1. Use the model of supply and demand and provide a textual and diagrammatic explanation, using the supply and demand curves for the changes in the prices of the good.
2. Explain the elasticity of supply and demand of the good.
3. Discover and describe the market structure of the good and specifically if there are any cartels/price fixing activities in the industry effecting the price

changes discussed.

 

 

You should use these relevant theories in your answer, but you should also refer to data and other studies where relevant. This essay should be completed by you individually, it is not a group assignment.

Formalities:

• Wordcount: 1000 words
• Cover, Table of Contents, References and Appendix are excluded of the total wordcount.
• Font: Arial 12,5 pts.
• Text alignment: Justified.
• The in-text References and the Bibliography have to be in Harvard’s citation style.
• Word or Pdf formats are accepted.

Submission deadline: 22 November 2020, 23:59 CET. Weight: This task is a 40% of your total grade for this subject.

It assesses the following learning outcomes:

• Outcome 1: Understand the relationship between economic theory and practice.
• Outcome 2: Evaluate real life situations with practical application of the acquired tools and knowledge.