Group Project/Poster – ECON111 – Principles of Microeconomics
Group Project: Each team (preferably 3 students) needs to select a topic from the list of topics, which have been listed on blackboard. You need to connect your topic and what you have learned in class to a real life example or an industry from Qatar or GCC region (for instance, telecommunications, oil & gas, food, recreation, etc.)
A brief introduction about the topic/the real life example that you have chosen. The team should also provide an outline of the discussion that follows.
- A clear explanation of the economic theory or the economic concept behind the topic that you have chosen supported with references.
- Discussion on the details of the example/industry that you have chosen.
- The team should provide some statistics about the industry or the real life example that was chosen.
- Each team should choose a different topic from the given list so we do not end up with many similar posters with the same topics.
- Try to use figures/diagrams where possible to support your argument
This should summarize your major points.
- This project is worth 10% of the total assessment.
- The due date is November 14.
- Words limit: 1200-1500 words
- You are encouraged to use headings and sub-headings.
- No extensions will be granted without a valid reason.
- Any student suspected of copying another person’s work or plagiarising from the internet will be thoroughly investigated.
- The project should be typed and well presented.
Each team member should include a full name, University ID, course name, course code and section number on their project.
Evaluating the group project
- Appearance in terms of format etc.
- The structure/the quality/clarity of writings etc.
- Showing your understanding of the topic through the materials/examples that you are using.
- Organization of the project in terms of the flow of materials, introduction, the real life example, discussion points, conclusion etc.
ECON111 – Project topics to choose from
|Preferably group of three|
|Topic to choose from for your group project|
|1. Market system: Demand and supply. What is the impact of the blockade on the market supply and demand of Qatar? Does the blockade create any new business opportunities in Qatar? You need to use the market supply and demand model to answer the above scenario and you can write your conclusion using the relevant data from the market in Qatar and draw your conclusion based on key findings from existing studies/reports.|
|2. Price elasticity of demand (use gasoline for instance as an example to see the relationship between the price elasticity of demand for gasoline and the price). You can use real data to explain whether the price of gasoline will affect the demand on this product. You can draw your conclusion based on key findings from existing research.|
|3. Consumer choices. How do consumers behave and how they maximize their utility? How do cultural and social factors affect consumer’s choices of certain products (you can use a specific products such as clothes etc.). You need to use a relevant model that explains this relationship and draw your conclusion based on key findings from existing research. You can use real examples from Qatar or another country of your choice.|
|4. Perfect competition. Compare with other market structures, short run and long run profit in the market. Which industries belong to this market? What are the advantages of this market? You can use the relevant diagrams to explain this market. Is this market efficient (productive versus allocative efficiency)?|
|5. Monopolistic competition. Comparison with other market structures, short run and long run profit in this market? Which industries belong to this market? What are the advantages of this market? Is this market efficient (productive versus allocative efficiency)?|
|6. Oligopoly. Cartel and oligopoly structure. You can use the crude oil market as an example. Is OPEC a good example of cartel? Alternatively, OPEC could represent another model in recent times. How does OPEC influence the price of the crude oil market? Draw your conclusion on this by using key findings from existing research.|
|7. Monopoly. You can use the natural monopoly market as an example. What are the advantages and disadvantages of this market? Is this market efficient (productive versus allocative efficiency)? How can monopoly diminish consumers ‘choices? Some researchers may argue that monopoly can reduce incentives to innovate. Draw a conclusion on this topic by using key findings from relevant existing research.|
|8. Externalities: Positive and negative. Many governments around the globe impose carbon tax to deal with the problem of negative externalities (global warming, pollution etc.). Do you think this approach is successful so far? Draw a conclusion on this by reviewing the relevant existing research in this area. Additionally, education is one example of positive externality, why do many countries around the globe subsidize education? What will happen to the marginal social benefit in this case? Draw your conclusion by reviewing the relevant existing research in this area.|