Find a recent (since the start of Obama's first term-January 2009) news or magazine article or podcast from a reputable/verifiable source that relates to elasticity and tax incidence or Market Efficiency and Government Intervention from this class. Be sure to cite your source(s).
Sources can discuss anything from something as broad as the usefulness of microeconomics to anything specific such as seeing an industry contract due to declining demand and falling prices, the upcoming election, or an article discussing the pros and cons of recent trade agreements.
In 1-2 pages-- single spaced, 12 pt font, 1" margins-- discuss your article and the microeconomics of the article. The prompt is relatively broad to allow for more creativity.
For example, if I did a paper on the Forbes' Super Bowl ticket prices, I would discuss the market for tickets in a supply and demand framework. At the market price, there was a shortage. Speculative sellers, whose intention was to sell tickets they didn't have, had to buy them late which increased demand, causing prices to surge late. I would also discuss why the NFL chooses to keep prices "low" in order to not alienate their fan base and be seen as fair.
Do not spend too much time summarizing your source(s). You may include a brief summary, but your analysis and application of relevant microeconomic concepts is more important.
The paper will be graded on format, grammar, structure, as well on content.