The purpose of the short project is to encourage the students to relate the class material to real-world situations and events, and to improve the critical thinking skills of the students. It also aims to develop a habit of keeping up with current events. Each student has to read 2 recent news article (published in the last 2 years) of their choosing, which provides a real-world example of a concept studied in microeconomics, briefly summarize the article and explain how it is related to microeconomics and why you think it provides an example of the concept of your choice. The following are some concepts you can provide examples of: forces of supply/ demand, price ceiling, price floor, monopoly, oligopoly, monopolistic competition, perfect competition, externalities, solution to an externality, opportunity cost, etc. Students are encouraged to find news articles and events related to any microrelated field of economics (e.g. Labor economics, Health economics, Behavioral economics, etc.), even if a chapter in the selected field is not discussed in Principles of microeconomics. In the latter case, students are encouraged to discuss their idea with the instructor before proceeding to preparation of the project. Students have to write about 1-2 pages (single spaced, Times New Roman, 12pt.) *FOR EACH ARTICLE. This includes a summary of the article, source of the article (e.g. a link to it), the concept exemplified, and a discussion/ explanation of the relevance of the article to economics and the way the article illustrates the selected concept(s)
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