Macroeconomic PTFL Assignment

Directions
In this project, you will apply and analyze the impact of market forces relative to supply and demand model. In scenario 1, you will use Excel to determine initial market equilibrium and then examine a number of changes of equilibrium when economic conditions change. In scenario 2, you will use Excel to calculate the impact market impact of government policy. In the final submission, you will summarize your findings from the two scenarios, what they mean, and their application.

Although there are many market models, including monopolies and oligopolies, this project will apply the perfectly competitive market model. There are few perfectly competitive markets, but the model is a good starting point in an analysis and comparison because it represents production and allocation efficiency as well as maximizes consumer surplus and economic welfare. The assumptions upon which this model is built include:

1. Many buyers and sellers

2. Standardize product

3. All parties have full information

4. No transaction costs

Review the entire project, including the rubrics, before you begin so that you understand all the requirements, how you will be assessed, and due dates. The Excel template provided must be used for Scenario 1 and 2. This will aid in not only completing the assignment but also help ensure that all required parts are completed. For your final submission, the Word template provided must be used to ensure all project requirements are met.

Deadline
Deliverable items for the Portfolio Project will be required at different points during the course. Details for each submission are included below in the Deliverable Descriptions.