Principles of Microeconomics (EC151)

Paper 

Block 5, 2001

Purpose:  To apply the model of demand and supply to current events

Assignment:    Read the articles "Drowning in Cheap Coffee" and "Hempstead Takes Back New Minimum Wage Law."  Summarize the content of each article in a paragraph or two and then use the model of demand and supply to explain the points the authors of each article make about the market(s) they are writing about.  

Format: The analysis of each article should be no longer than 2 typed and double-spaced pages in length. Graphs should be constructed using Excel and be clearly displayed and properly labeled. They should be attached on separate pages and referred to by number (Figure 1, Figure 2, etc) in the body of the paper. They do not count against the page limit.

Criteria for grade:

1. Coherent application of the model of demand and supply. Cause and effect relationships should be clear.
2. Command of the generic conventions of the English language.
3. Command of the terminology of economics.
4. Quality of Excel graphs.
5. Clear organization.

Honor Code:  You may consult your text and notes but may not discuss the assignment with other people.

Due Date: 2nd Monday, 9:00 A. M.