This assignment will allow students to get a deeper understanding in economic issues in the… 1 answer below »

Assignment title: Economic Issues of an Industry/CompanyOverall aim: This assignment will allow students to get a deeper understanding in economic issues in the real world and relate them to the economic concepts and theories.At the end of the course the student will be able to: 1. Demonstrate their understanding of the price mechanism. 2. Analyze the behavior of market structure. 3. Understanding the Markets in action (Elasticity). 4. Explain profit maximization of the company in a perfect competition or monopolistic structure.Students are required to read and observe economic issues in their chosen location from newspapers, magazines or journals daily. Students will have five weeks’ time in which they need to collect a minimum of three newsletters per week. The findings that have been collected need to be summarized and analyzed in a report format using the available economic theories and/ or models. Students will need to support their works with a minimum of five articles taken from journals or web based reports as their secondary sources. All the research can be shown in a separate document file. Thirty percent (30%) of the grade will go to presenting the topic and defending it in class. Students are required to present and defend their findings orally. Students are expected to keep a back-up of their works as necessary. The remaining seventy percent (70%) will goWord count: Between 1500 – 1800 words Table of Contents 1. Introduction (200-300 words) 1.1. Background of the company; Problem you wish to solve. 2. Analysis (800-900 words) 2.1. Identify the Demand and Supply factors (at least 3 factors each) 2.2. Look at factors that influence Demand and what would shift the demand curve left or right (Up or Down) 2.2.1. Draw Graphs for a few factors 2.3. Look at factors that influence Supply and what would shift the curve left or right (Up or Down) 2.3.1. Draw Graphs for a few factors 2.4. Plot a simultaneous Shift in Demand factors and Supply factors and show the resulting graph. 3. Price Elasticity 3.1. How elastic (sensitive) is the Demand/Supply curve is in relation to a change in price. Inelastic or Elastic Curve. 3.1.1. Redraw and Modify the graphs you have used above in Analysis->Demand and Supply if you have to in this area. (Optional) 3.2. Talk about your pricing w.r.t PED, IED, CED, PES 3.2.1. Draw graphs illustrating the relationship between any of the elasticity types chosen (PED, IED, CED, PES) 4. What If Scenario (Assumptions made need to be specified- Refer to your newspaper research and pick up article(s) that you think will influence Demand or Supply) 4.1. Explain the Scenario you have assumed and its effect on demand and Supply 4.2. How do you think the company will react to your What If Scenario over time in 4.2.1. Short Run and Long Run 4.2.1.1. Draw Graphs to explain the above 4.3. Effects of Speculation: Stabilizing and Destabilizing 4.3.1.1. Draw Graphs to explain the above effects of Stabilization or Destabilization 5. Conclusion (200-300 words) 5.1. Future Suggestions/ Recommendation 5.1.1. Conclusion in relation to the What If Scenario 5.1.2. Changes you think the company will make in the Short Run/Long Run