PreliminariesThere will be a set of several categories (e.g., financial economics, public economics, politicaleconomy, etc.) to which each of you will be randomly assigned by the end of the second week.The purpose of this INDIVIDUAL essay is to analyse a local or international piece of news withinyour assigned category. You have to use all the concepts and tools learned in the course tosuccessfully complete this task. The essay must contain the following sections:1. Summary of the chosen news in a bullet style.2. Background.3. Analysis3.1 Who or which parties are affected by the policy covered in the news? How are theyaffected?3.2 What are the key economic trade-offs involved?3.3 Why and how the government, or any other third party, did influence the outcome?4. Recommendation5. Appendix5.1 Lists of Figures5.1 Reference5.1 News attachmentThe news article MUST be published after January 2022 and must be in English. No twostudents assigned to the same category are allowed to choose the same or similar news article.Penalty rates will apply in such a case (see below).How to reserve the news articleThe reservation of a news article is based on a first-come-first-serve basis.Within each group, the course coordinator will create a forum titled "Reserved Article." PleaseDO NOT create another forum. To avoid any confusion, any article reserved using a differentforum will not be considered.Each student must create a thread within the "Reserved Article" forum to reserve his/her ownarticle. Students must use the template provided to enter the information on the newsregarding the headline, source, publishing date, and the link (if available). It is yourresponsibility to make sure that your chosen article is not the same or too similar to the onesreserved in earlier threads. Any doubts should be directed to the course coordinator. Furtherinformation is available on the forum.RULES (MUST READ)Each student must reserve the news article according to the assigned category. See above fordetails. Failure to do so might be subjected to a penalty rate.No computer-related problems are allowed as an excuse to miss the deadline. It is highlyrecommended that you attempt to submit the file at least a day prior to the deadline.ALL the relevant references must be provided. This is VERY IMPORTANT. Any figures andcontent taken from other sources must be cited appropriately. Failure to do so may potentiallylead to an academic integrity investigation. Please use the APA (American PsychologicalAssociation) style rules for references.The essay is limited to a 2,500-3,000 word count (excluding references, figures, and the newsattachment). Any analysis beyond the 3,000 words count will be disregarded.Check very carefully to ENSURE that the correct/updated file is uploaded through the Turn-it-inby the due date. You can re-upload the file as many times as you wish, as long as the due datehas not yet passed. We will not accept any submission via other platforms, no hard-copy oremail. The submission of the wrong file through the Turn-it-in is not an acceptable excuse toask for a resubmission after the due date.More detailed information about this assessment and its marking scheme will be posted onBlackboard at the start of the semester.Penalty criteria1. Using the same or a too similar news article that belongs to another student, who hasreserved the article earlier, will be penalized at the rate of 20%. The threads created in thegroup forum will be used as evidence to reconcile this issue. If none of the parties created thethread, a penalty rate of 20% will be applied to each of them.2. Using the news article published before January 2022 and/or in other languages than Englishwill be penalized at a rate of 20%.3. Essays submitted after the due date, without prior approval, will be penalized at a rate of10% of the value of the assessment item per day (including weekends and any public holiday).For example, if you submit your essay three days after the deadline, your final grade will bepenalized by 30%.4. Using the news article that is different from the category assigned to you will be penalized ata rate of 20%. If you have doubts whether your article belongs to the category, please refer tothe course coordinator.