The assignment is to choose an article that describes a change in a market or a change that may affect a market. You will then write an essay that starts with a brief summary the main issue in the article, then uses the supply and demand model toanalyze the main issue of the article. The purpose of the assignment is to hone your skills using the model and to demonstrate the ability to apply economic models to the real world. 

The analysis will either (1) explain a change in the price and quantity of a particular good or (2) make a prediction based on change in a factor that shifts the demand or supply of a particular good. As an example of approach (1), your article might describe rising home prices and sales. Your job would be to explain why house prices and sales rose using the supply and demand model. As an example of approach (2), your article might describe a change in the requirement to earn a teaching credential. Your job in this case would be to predict what the effect of this might be on the labor market for teachers. In either case, I suggest you choose a market that is of particular interest to you. 

The Template and Rubric provide a detailed guide of the assignment and grading. Here is a guide to get you started on the assignment:

1.       Select an article from a newspaper (print or online) or relevant magazine (e.g. The Economist) that describes either

a.       A change in the price and quantity of a particular good or service.

b.       Or, a change in a factor that shifts the demand or supply curves in a particular market.

2.       Before you begin writing:

a.       Read the instructions in the template.

b.       Read the criteria in the rubric (reverse). 

c.       Study your article and decide whether you’re going to make a prediction or explain a change that has occurred. Many students have found making a prediction to be the simplest route.

d.       Construct an outline by answering the questions in the order they appear in the rubric. Sketch the supply and demand graphs on a piece of paper.