Assignment:
For each of the following topics, please read the articles and address the questions for each topic. This assignment will count for quiz 1.
• While you are free to use any references, you are not permitted to work with other individuals (including other students in the class).
• You should construct three separate essays (one for each topic).
• You can include all three essays in one Word document.
• Separate the essays with a heading for each essay.
• Submit the document through the Turnitin link under "Assignments" in Blackboard.
• Please be sure to include a reference page for additional references.
• Please submit your work by Wednesday, September 24.
• Please note: all Wall St. Journal articles can be located through the SNHU library. From the main page, you will want to click on
"Research Links" and then click "Find a Database or Electronic Resource". You can then click on the "w-z" tab to select the Wall St. Journal.
Essay 1: "Thinking Like an Economist (15 points); feel free to utilize the practice supply and demand graphs located under "Content" in Blackboard to construct the analysis below. - 2 to 3 pages expected including graphs
Legal Weed's Strange Economics in Colorado, Brian Bremner and Vincent del Giudice, Businessweek, Jan. 9, 20014: https://www.businessweek.com/articles/2014-01-09/colorado-legal-marijuanas-strange-economics
Key Questions:
• The aim of drug prohibition is largely to reduce drug sale and consumption. Starting from equilibrium in the market for marijuana in Colorado, what would we expect to happen to supply and demand in the market for marijuana when legalized other things constant? Why?
o Show the impact of legalization of marijuana on a supply and demand graph.
• Using our class discussion of "thinking like an economist" and economic concepts in the textbook, discuss some of the additional factors to consider in the analysis of the impact of legalization on supply and demand conditions. Note: other things are not constant in reality!
o Be sure to address the issues of black market prices and taxes at a bare minimum.
Essay 2: Supply and demand analysis (15 points) - 2 to 3 pages expected including graphs; feel free to utilize the practice supply and demand graphs located under "Content" in Blackboard to construct the analysis below.
How Putin Lowered the Price of Europe's Apples, Gabi Thesing and Whitney McFerron, Businessweek, September 11, 2014: https://www.businessweek.com/articles/2014-09-11/russias-ban-on-eu-food-triggers-deflation-fears#p2
Key Questions:
• What is the impact of Russia's ban on the supply and demand conditions for apples in Europe? Be sure to explain the impact on price and quantity.
o Provide a supply and demand graph for apples in Europe starting in equilibrium. Then show the impact of the Russian ban.
• What is the impact of Russia's ban on the supply and demand conditions for apples in Russia? Be sure to explain the impact on price and quantity.
o Provide a supply and demand graph for apples in Russia starting in equilibrium. Then show the impact of the Russian ban.
Essay 3: Firm Supply & Demand Analysis- 3 pages minimum expected
Choose a publicly traded company in the U.S. Locate Form 10-k, a required document of public companies. Examine the beginning part of the company's Form 10-k in order to gain an initial understanding of the impact of supply & demand conditions on the firm.
Using the Form 10-k and any other quality references that you can locate, consider the following:
• What are the main goods or services that your firm provides?
• What are the primary factors that determine demand for the firm's goods and/or services?
• What are the primary factors that impact the firm's ability to produce their good or service?
• Are there any supply and demand conditions in related markets that can impact the company?
o For example, do supply and demand conditions for a key input impact the company?
• Given your brief research in these areas, provide your thoughts on demand for the firm's goods and/or services going forward.
Note: The majority of the grade for this assignment is based on content. Writing and proper references are important as well. Please see the rubric below: