ECO 365 Week 1 Article Analysis Paper
Research the University Library and Internet, and select a recent news article concerning trends in consumption patterns of a specific product, such as gasoline, oil, grain, or coffee. The following article which is located in the Electronic Reserve Readings on the student website is an example of trends in consumption patterns:
Hauser, C. (2011, August 24). Sales of new homes fell again in July. The New York Times. p. 6. Retrieved from EBSCOhost.
Write a 700 – 1,050-word paper in which you do the following:
Analyze the basis for the trends in consumption patterns, as discussed in the article you selected.
• Consider the utility derived from a product or service mentioned in the article.
• Describe what has occurred to change the demand for the product or service and its market and equilibrium prices. Assume that supply remains the same.
• Describe what has occurred to change the supply of the product or service and its market and equilibrium prices. Assume that demand remains the same.
• In your opinion, is demand for this product or service price elastic or inelastic? What does this imply about how consumers respond to changes in the price of this product or service? Support your determination of the price elasticity of demand with a reference.
Format your paper consistent with APA guidelines.
ECO 365 Week 2 Individual Supply & Demand Simulation
Complete the Supply and Demand Simulation
Write 700 – 1,050-word paper of no more than summarizing the content. Address the following:
Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic.