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Final Project

This document outlines the guidelines for a three-phase economics project. In phase one, students will collect price and quantity data for various food and non-food items in April and submit the data to an online portal. In phase two, students will collect the same price data for May and submit it. In phase three, students will collect the final price data for June, calculate the consumer price index, inflation rate, and market structure for each item. Finally, students will submit a 500-word report by a deadline in June explaining their results, conclusions, and lessons learned from the project.

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Shahzaib Naveed
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38 views2 pages

Final Project

This document outlines the guidelines for a three-phase economics project. In phase one, students will collect price and quantity data for various food and non-food items in April and submit the data to an online portal. In phase two, students will collect the same price data for May and submit it. In phase three, students will collect the final price data for June, calculate the consumer price index, inflation rate, and market structure for each item. Finally, students will submit a 500-word report by a deadline in June explaining their results, conclusions, and lessons learned from the project.

Uploaded by

Shahzaib Naveed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Project Guidelines Spring 2023

ECON 100: Principle of Economics Project Guidelines

A recent article in Dawn stated that “Inflation so high that living seems unaffordable” in Pakistan. Prices are
on the rise since months impacting every individual in the country, with the largest burden falling on the
low-income segments. This assignment will help you reflect on the current situation in the country and help
you to understand how an economy works.
The assignment is divided into three phases.
Phase 1:
1) You will collect the prices per unit of the following food and non-food items on the 11th of April 2023
and record in column 1 in the table below. Also you will record the quantity of the item consumed in
your household for one month in column 2. This table will be submitted as a word document on Moodle
by 10pm on 11th April 2023.
Items Price per Unit Quantity Price per Unit in Price per Unit in
in April 2023 consumed in May 2023 June 2023
one month
wheat flour (1 kg)
Dalda Ghee (1 kg)
Onions (1 kg)
Tomatoes (1 kg)
Potatoes (1 kg)
Milk (1 litre tetra pack)
Chicken (1 kg)
Beef (1 kg)
Mutton (1 kg)
Dozen eggs
Loaf of Dawn Bread
Dozen bananas
Apples (1 kg)
Petrol (1 litre)
Electricity (per unit)
LPG cylinder or Sui
Gas per cubic
meters

Phase II:
Repeat the same exercise with the SAME items and record their prices on May 11th, 2023 in column 3.
Submit on Moodle by 10pm on May 11th 2023.
Phase III
Repeat the same exercise with the SAME items and record their prices on June 5th , 2023.Once you have all
three set of prices, from this data, you will:
1) Calculate the Consumer Price Index (CPI) for each month (use the quantities in column 2 for all
three months).
2) Calculate the Rate of Inflation for each month.
Project Guidelines Spring 2023

3) Identify the market structure for each commodity (this topic will be later taught in the course).
Based on your calculation above, you will write a short report of 500 words to explain your results,
conclusions and lessons learnt. Report submission deadline is 9th June 2023 by 12:00pm
Important Dates
First Phase: Record prices on the 11th of April 2023 and quantities used in a month and submit on Moodle
by 10pm (11th April 2023)
Second Phase: Record prices on the 11th of May 2023 and submit on Moodle by 10pm (11th May 2023)
Third Phase: Record prices on the 5th of June 2023. Submit the hard copy of the report by 9th June 2023 by
12:00pm.

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