Macroeconomics (ECON 201)

/in /by
Kingdom of Saudi Arabia Ministry of Education Saudi Electronic Universityالمملكة العربية السعودية وزارة التعليم الجامعة السعودية الإلكترونية  

                          College of Administrative and Financial Sciences

Assignment 2

Macroeconomics (ECON 201)

Release Date is 01/10/2023

Course Name: MacroeconomicsStudent’s Name:
Course Code: ECON201Student’s ID Number:
Semester: 1stCRN: 11669
Academic Year:
 

For Instructor’s Use only

Instructor’s Name:
Students’ Grade:   / 10Level of Marks: High/Middle/Low

General Instructions – PLEASE READ THEM CAREFULLY

  • The Assignment must be submitted on Blackboard (WORD format only) via the allocated folder.
  • The due date for Assignment 1 is 28/10/2023.
  • Assignments submitted through email will not be accepted.
  • Students are advised to make their work clear and well-presented, marks may be reduced for poor presentation. This includes filling in your information on the cover page.
  • Students must mention the question number clearly in their answers.
  • Late submissions will NOT be accepted.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
  • All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
  • Submissions without this cover page will NOT be accepted.

Assignment 1 Questions: Week 4, 5 & 6

Q1: Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.                                               [2.5 Marks]

Q2: Calculate the consumer surplus, producer surplus, and total surplus in a market of airplane tickets if the Equilibrium price per ticket is SAR 160, the equilibrium Quantity is 80 tickets, the upper intercept of the demand curve on the y-axis is SAR 400 and lower intercept of the supply curve on the y-axis is zero. What will be the dead weight loss if the government imposes a tax of SAR 80 per ticket and the buyer and sellers share the tax of 50 percent each?          [2.5 Marks]

Q3: What do you mean by import tariff and import quota? Take an example and discuss the difference between tariffs and quotas with the help of graphs.                                             [2.5 Marks]

Q4: Provide the equation to calculate the GDP of a nation. Explain all four factors that contribute to the GDP calculation in detail.                                                                                              [2.5 Marks]