SUSS ECO201 Managerial Economics – Group- based Assignment | Assignment Help, Singapore

Question 1:-

Apply the theory of supply and demand to analyze and make predictions about how policies affect market outcomes. Find a recent article (within the last 6 months) published in a credible news outlet that discusses a Government policy that affects a market in Singapore. Please choose an article discussing an issue as local and specific as possible.

(a) Briefly describe the policy and the market. Include the original article as an Appendix to the GBA submission (The article as an appendix attachment will be ignored for the purpose of plagiarism screening). Note: Your chosen policy may cover economic concepts from SU5 and SU6. Although these SUs do not form part of this GBA, your answer may make reference to these concepts if needed – but there is no expectation that your answer covers these concepts.

(b) Analyse and discuss how the issue described in the article is expected to affect the market. In your analysis, ensure you address the following points: How, and why, is the policy expected to affect (or not affect) supply and demand, both in terms of potential shifts as well as changes in elasticity; What are the predicted effects (if any) on the equilibrium price and quantity. Provide a supporting graphical analysis.