There will be one essay/research paper. The goal of the essay demonstrate his/her new acquired economics knowledge by analyzing an important microeconomic issue.
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The essay topic is to provide an economic analysis on one industry in Houston. Industries include fast food, banking, cell phone companies, construction, medical care, financial services, higher education, mental health services, hotel services or entertainment. The essay will have four components. 1. Background and significance. In this section, or introduction, will outline the magnitude and main players of the chosen industry in Houston. DATA on the chosen industry Must be presented here.( COULD BE GRAPH OR RESEARCH DATA) 2. Factors that influence demand and supply in the industry. In other words, in this section there will elaborate on at least 3 factors that determine the demand and supply for that good/service. For example the you can elaborate the substitutes and complements for the good/service or the wages structure of workers in that industry. 3. Describe the need for more/less government regulation in that industry. In this section the student can outline any potential market failure problems in the industry and how the government could address them. Please be specific on causes and the solution to the market failure described. 4. Summary and conclusion. In this section the you will provide a summary of the structure of that industry, its findings, the regulation plan outlined and a conclusion. This section should be related to the introduction and body of the essay.
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