Demand and Supply Theory Essay Assignment
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Demand and Supply Theory Essay Assignment
Instructions for HW #3 | Chapter 3 Demand & Supply Theory
1). Cover Page Instructions:
Your homework must have a cover page. You can design it any way you want but it must have all the elements shown in the sample below.
Macroeconomics | Econ 101 – [your course section here]
Chapter 3: Supply and Demand Theory
By
Your Name Here
For
Professor K. Kasule
Due date: February, [date], 2018
2). You must use Microsoft Word (MS Word) to create and draw the graphs. For those of you who have never the software to do this, I posted a link to two YouTube videos in Chapter 3 module on Canvas titled (a) Using MS Word to Draw Econ Graphs (Part 1), and (b) Using MS Word to Draw Econ Graphs (Part 2) which should sufficiently train you in how to go about using the software.
Tip:
- First draw the graphs by hand before attempting to draw them with the software.
- Neatness, accuracy, completeness and timeliness count on this assignment.
When you draw your graphs for this homework assignment make sure that you reference the graph in your answer and that the graph has all these elements.
- I like big graphs and I cannot lie … so make sure that your graph covers about one third of the page.
- Presentation matters: Make sure that your entire graph fits on one page. I will give you a zero if your graph is split on two pages.
- An appropriate label such as Figure 1, Exhibit 1 etc…
- The graph should have an appropriate descriptive title
- Make sure that you label both the Y-axis, and the X-axis using the correct units of measurement such as dollars ($), years etc…
- If you are demonstrating a shift / change in demand or supply, use dashed lines to differentiate between the original and new position.
- Graphs are for show and tell, so make sure that you reference the graph in your answer. For example, you can say something like, as shown in Exhibit 1 …. Refer to your textbook for other appropriate examples.
- Add page numbers to your homework except on the cover page
3). Before answering the question, restate it. Make sure that you have answered the question in its entirety.
Homework #3 | Chapter 3 Demand and Supply Theory Problem Set
Question #1 : Using demand and supply curves, diagrammatically demonstrate what happens to the equilibrium price and quantity when:
- An increase in demand that is greater than the increase in supply?
- Demand falls and supply is constant
Question #2 : Use a demand/supply curve or both to graphically demonstrate the following:
- The demand for automobiles when the price of gasoline rises sharply and stays high.
- The supply of computers if a tax is placed on the production of computers.
Question #3 : Without drawing a graph, identify whether the demand curve will shift rightward or leftward:
- A decrease in the number of buyers
- A rise in the price of substitutes
Question #4 : Using an appropriate demand or supply curve, demonstrate and explain the economics (if any) in the following observation:
“When fines for driving over the speed limit were $100, the Chula Vista, CA Police department issued on average about 500 speeding tickets. However, when the city council raised the fine for speeding to $250 only 215 tickets were issued.”
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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