Microeconomics Problem: Price Gouging After Disasters

1. Find two articles about a microeconomics problem currently in the news from either a newspaper or news (including business) magazine.

a. You may use newspapers, business magazines, or articles found in the Westwood College Library (just make sure that the topic you choose is current). Only reputable, peer reviewed, and/or other sources approved by your instructor should be selected - do not use websites unless they are founded sources for business and economic news/topics (no blogs or wikis).

2. You will submit a short analytical paper that compares/contrasts the problems or issues and demonstrates your mastery of the course material by your explanation of the problem or issue.

3. A full citation for the articles in APA format

4. A summary of the articles following the Project 1 requirements.

Your short analytical paper needs to include the following: (Project 1 Requirements)

• An explanation of the problem or issue. (Price Gouging After Disasters)

• Possible causes of the problem or issue from a supply and demand perspective (labor supply and demand, aggregate supply and demand, product and service supply and demand).

• The significance of the problem or issue (i.e., does it lead to economic fluctuations? If so, how?).

• The costs and/or benefits of the problem to society.

• Explanation of possible solutions to the problem or issue.

• The expected short-term and long-term implication toward possible solutions to US and international economic institutions.

• How the two problems are related (if they are).