Explaining Economics

At the end of this project you should be able to: (1)       Effectively illustrate economic concepts. (2)       Apply your knowledge of microeconomics to a company. (3)       Reach plausible conclusions and (4)       Communicate your ideas clearly and succinctly to non-economists. I.         Introduction You will analyze one company (Tesla for example) and discuss the microeconomics of it. You will have a section on supply and demand, costs, elasticity, and market structure for your company. The company does not have to be real. You could do a Harry Potter themed company such as Gringotts or Olivanders. This assignment counts as your final project.   Each group is expected to submit a 200-word prospectus that describes their idea for the project and the early draft of your script. The introduction should include a typed one-page (double spaced) prospectus, and at least a start on the way to implement your plan. Which company will you analyze? How will you cover the main sections? This section will be marked with suggestions for improvement and returned. It is an intermediate check- I’m trying to make sure you have a resasonable project relating to the micro we’re doing.    What to Include in Your Final Project A good video presentation captures the core points and draws your attention to what you want the audience to learn. I want you to create a video that teaches economics. You will focus on the following parts: supply and demand, elasticity, costs, market structure.   Most importantly: ·      why the concepts are important to your company ·      where do people get confused ·      help them get unconfused