2. Objective
• To demonstrate the application of your knowledge and
understanding of economic theory to real-world situations.
• To develop the analytical and evaluative skills.
• To ease the transition to higher studies in economics
3. • A short article from a newspaper, a journal or the internet will be
provided. We will sometimes take videos also.
• You work individually in the first week at your own pace and then
when we meet on zoom every fortnightly ,we work in groups with our
peers.
4. What do I need to do?
• Individual work:
• Mention clearly on what topic the article is based
• Analyze it to the best of your capacity. The work must be your own and not
copied from the net/other sources.
• It should be HANDWRITTEN ONLY.
• Use appropriate terms and terminology.
• Explain the link between the article and economic theory that you have
learnt.
• Try to demonstrate economic insights to article (provide evidence of your
ability to discuss current events from the point of view of an economist).
• Use neat and completely labelled diagrams wherever appropriate and
relevant.
5. Let’s take a look at the article below – “An uptick in panic”
The toilet paper problem is not unique to Australia - a similar situation
besieged places worse-affected by the virus, such as Singapore, Japan and
Hong Kong.
Last month, armed robbers stole pallets in Hong Kong following panic-buying
induced shortages there. There are reports of toilet paper buy-ups in the US
as well.
In Australia, the frenzy began on the weekend after new cases of Covid-19
emerged and the first local death was reported - a 78-year-old man in Perth,
Western Australia. On Wednesday a 95-year-old who died this week in
Sydney also tested positive for the virus.
Australia's infection numbers had initially plateaued in the first weeks after
the outbreak, following a strict travel ban on visitors from China.
Reports then on the weekend of an uptick in cases sparked renewed alarm.
As of Wednesday, Australia had recorded 41 cases of Covid-19, and one
death. These are numbers significantly lower than that of other nations.
Official guidance advised people to practice good hygiene and wash their
hands. It was also suggested that people could prepare two weeks' worth of
food and water, as well as other household goods, if they felt it necessary.
The demand for toilet paper surged - ahead of long-life food and other non-
perishable goods. Posts on social media showed customers seizing rolls and
piling packets on trolleys.
https://www.bbc.com/news/wo
rld-australia-51731422
