Phenomenon you have chosen and highlight its significance

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Reference no: EM132163108

Microsocpic analysis of the chosen phonemonen which is mentioned below: ( 1000 words )

An introduction should typically outline the phenomenon you have chosen and highlight its significance. You may present some data to illustrate the phenomenon. Good economic analysis entails identifying (1) the various aspects of the exchange process (the market, the agents involved, the equilibrium outcome), (2) the factors that can affect market outcomes over time and (3) the welfare implications of the exchange outcome and whether there is scope for government intervention. Use graphs, formulae and diagrams where they help your explanations (more rigorous and succinct) compared to words alone. A good conclusion section will provide a look at the big picture, the significance of your findings in a larger context, and even suggest limitations of the models that you have used. Remember this is an economics assignment and therefore you should refrain from writing a report that is general and/or journalistic in nature.

Phonemonen chosen :

1) Crude Oil Price Fluctuations between 1998-2018

Crude oil is an energy source that is integral to production processes across the economy. However, over the last two decades, crude oil prices have fluctuated quite considerably. Perform an economic analysis of this phenomenon in the market for crude oil. Explain why prices have fluctuated in the last two decades. Include in your answer the welfare implications of these price changes.

Reference no: EM132163108

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