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In this assignment, we will choose a news article to 1. Summarize the content of the article 2. Use the concept of supply and demand to discuss how the event in the article affect the market equilibrium quantity and price 3. Assess how the change in the equilibrium affects the social welfare I would like you to choose an article or work of fiction (short stories, novels, films, etc.) that fits your interest. I have a list of news articles related to different social issues. If one of those articles piques your interest, do the assignment about that article. You can also choose another article that is more relevant to your life (many former students have done this), or you may even use the work of fiction. The main learning objectives of this exercise is to 1. Identify the relationship between the current events occurring in our society and the markets for particular goods or services 2. Use the economic models of supply and demand to predict how the event affects the markets 3. Recognize the welfare implications of the current events for consumers, producers, and the government
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