1.You have to identify two pieces of news: one piece of news should be related with microeconomics (Nature of Economics and Cost-Benefit Analysis, Demand and Supply Analysis, Production and Cost, Perfect Competition, Monopoly, Oligopoly and Game Theory, Economics of information )
and one piece of news should be related with macroeconomics (Measuring Economic Activities, Money and the Banking System, Interest Rate and Monetary Policy, Aggregate Demand and Aggregate Supply Analysis, Fiscal Policy
2.For each piece of news, first you have to use 100 – 200 words in describing the news event. There is no need to copy and paste the whole news article
3.for each piece of news, you have to use 900 – 1,200 words in writing a report to analyze the news using the microeconomics topic/macroeconomics( see #1)
4.The following are three examples of news events discussed in the lecture for your reference. The first two examples are related with microeconomics and the last example is related with macroeconomics. You should not directly use these news events for your report.
(a) In July 2019 there were massive fires in the Amazon rainforest. One of the reasons for these fires was that China has to demand for more soybeans and agricultural products from non-US countries due to the trade war between US and China. The conversion of rainforest to farmland by Brazilian farmers may lead to these massive fires. Based on this news event, you can discuss the effects of the US-China trade war on the demand and supply of agricultural products in those affected countries and their implications on the efficiency of resource allocation.
(b) Discussed how the subsidy to the ethanol industry by the US government may lead to the increase in the price of bacon.
(c) In 2012 Hong Kong was ranked the best city in the world according to the Economist Intelligence Unit (EIU) of The Economist magazine. The reason for Hong Kong to win is partly due to its green space. Based on this news event, you can discuss why we cannot reply on GDP (or GDP per capita) alone to determine the standard of living of a place.