University College London Economics in Management Report Paper
ANSWER
Step 1: Select a Market for a Product or Service
For your analysis, pick a market for a product or service. It could be a general product or a particular brand, national or foreign. Such options include “Smartphones,” “Apple iPhone,” “Starbucks Coffee in China,” and “Coffee.”
Find three pertinent articles in Step 2
Find three articles about the market for the goods or services of your choice. The articles must be current as of May 1, 2023, and come from reliable newspaper sources. Every article should relate to a specific lecture topic:
First Article: Lecture PPF and Opportunity Cost, Topic 1
Look for a piece that examines opportunity cost and the production possibilities frontier (PPF) about the market for the goods or services you have selected. Ideal scenarios involving these ideas should be presented in the essay.
Market equilibrium and efficiency are covered in Article 2 of the third lecture.
Find a paper that discusses market efficiency and equilibrium in the market context for the product or service you selected. The market’s supply and demand dynamics should serve as this article’s foundation.
Article 3 – Lecture Topic 5: Utility and Demand or Lecture Topic 5: Elasticities
You can choose between two lecture topics for the third article. You can either locate a piece of writing that examines the elasticities of supply or demand concerning your target market. You may also pick a piece that explores the ideas of utility and demand.
Remember that the articles you choose should be directly relevant to the microeconomics ideas covered in your lectures and should not include any analysis or research conducted by someone else.
Analyze the articles in Step 3
Once you have located the three pertinent articles, analyze each one in light of the lecture topic that it is related to. Extract essential information, facts, and insights that relate to the ideas covered in the lectures.
Fourth Step: Gather Your Analysis
Separately compile your analysis for each article, describing how each article’s content links to the microeconomics ideas from the designated lecture topics. Talk about any economic tenets, hypotheses, or models that apply to the circumstances outlined in the articles.
These procedures will help you finish your project analysis by combining articles from the real world with the microeconomic theories you learned in class.
QUESTION
Description
Choosing Product Market for Analysis
? This project involves choosing product(s) for your project analysis, using microeconomics concepts discussed in Lectures 1 to 5.
? The product or service market can be either general or specific, local or international.
? Some examples of product or service market:
Smartphones (general)
- Apple iphone (specific brand in the smartphone market)
- Starbuck Coffee in China (local, specific to a country)
- Coffee (international)
- Choosing Articles as References for Analysis
? Search through newspapers sources (other sources are strictly not permitted), either in print or internet for THREE (3) articles only based on the product market you have chosen. Articles should contain real world situations. Articles that contain analysis or researched by others are not appropriate and should not be used. The articles must be related to the concepts discussed in Lectures 1 to 5.
? Articles must be from 1st May 2023 onwards.
? The articles selected should be in English and based on the following topics:
Article 1 – Lecture Topic 1: PPF and Opportunity Cost
Article 2 – Lecture Topic 3: Market Equilibrium and Efficiency (Learning and understanding Lecture
Topic 2: Demand and Supply is a pre-requisite to learning Topic 3) Article 3 – Lecture Topic 4: Elasticities
OR
– Lecture Topic 5: Utility and Demand
? Select THREE (3) articles on the SAME PRODUCT (for example, all 3 articles on coffee) or DIFFERENT PRODUCTS (for example, 1st article on coffee, 2nd article on apparel and 3rd article on smartphone)