Introductory Microeconomics Winter 2020 Economic Analysis of music

This is a paper that focuses on the Introductory Microeconomics Winter 2020 Economic Analysis of music. The paper also provides the elements to consider in the paper.

Introductory Microeconomics Winter 2020 Economic Analysis of music

U‌‌‍‌‌‍‍‍‌‍‍‌‍‍‍‌‌‌‍niversity of Regina Econ 201 – Introductory Microeconomics Winter 2020 Economic Analysis of music, arts, poems, movies, sports, and much more… Optional Assignment Final Exam Guidelines This is an optional assignment worth 10% (if I like your assignment because you followed these guidelines), 5% (if I think your assignment is just OK) or 0% (if I do not like your assignment because you did not follow these guidelines) of the total marks of the midterm. Since 10% of the total marks is considerably large, I expect you to follow these guidelines very closely and the economic analysis of the topic of your choice to be sound and complete. For this last optional assignment, you have to choose one of the topics included in the final exam for your analysis (perfect competition, monopoly, oligopoly, monopolistic competition, externalities or public goods/common resources).

Please follow these steps:

1. Choose the piece of work for your analysis. This can be your favorite song, poem, comic, movie, painting, or fragment of a book or novel. It needs to have economic implications or relate to concepts in economics. (remember the songs and paintings we saw in class). It can also be a story related to some news of your interest, for instance a sports game, something happening in the city, etc. Depending on what piece of work you choose, you have to provide the lyrics of the song (only songs in English). Additionally, the Internet website where I can listen this song, watch the video (for example, the YouTube link). See the painting, or read the poem.

Introductory Microeconomics Winter 2020 Economic Analysis of music

2. For the assignment, you must consider the following elements for your analysis:

a. Provide a brief description of the piece of work you selected. For instance when the song was released, who sings it, whether it was a musical hit or not. Also, or the name of the painting, the author or creator, the year of creation, where it is currently exhibited, the interpretation of the painting. You can provide similar background information if you choose a different topic.

b. The economic concept or concepts that you identify in the piece of work or topic of your choice. For instance, whether this is about buyer’s behaviour, market interaction, scarcity of resources, efficiency, etc. You have to CLEARLY highlight the part of the lyrics or poem, or representations of the painting. Where you are able to identify these economic concepts.

c. What your analysis is about. Remember the song ‘Short Supply’ by Tracey Chapman, it refers to the short supply of natural resources that we need to live well and that provide satisfaction and happiness to people (for example, sand beaches, tress, fish in the ocean, beautiful landscapes, etc.).