In lieu of a prelim exam, you are required to submit a critical review paper and it is anchored on

your first learning evidence as stipulated in your course guide.

Learning Evidence (LE1): Critical Review Papers on Microeconomic Basic Theories and
Concepts. These are activities requiring all students to summarize all basic theories and
concepts learned emphasizing its assumptions and limitations in pursuing microeconomic
analysis.

Instructions:

1. Please write a critical review paper that will allow you to summarize and evaluate a
basic theory or a concept that is being used in microeconomic analysis.

2. Writing this critical review paper needs you to read the theory or concept in detail to
enable you to present a reasonable and fair evaluation of its usefulness and applicability
in analyzing microeconomic issues.

3. In this paper, critical does not necessarily mean to criticize negatively, but you need to
look at and question the theory or concept used in microeconomic analysis in terms of
its meaning, assumptions, implications, and limitations.

4. The title of this critical review paper is “A Critical Review of Demand and Supply
Framework”. It should have the following sections:

I. Brief Theoretical Review of Demand and Supply Framework

II. Application of Demand and Review Framework (you may cite an empirical
study)
III. Limitations of Demand and Review Framework
IV. References

5. The format is as follows:

i. 3-page paper
ii. SHORT size bond paper
iii. Calibri, 10
iv. 1”x1” margin
v. 1.5 spacing

6. This paper can be done individually or by a group with a maximum of two (2) members.
Indicate the name/s of the member/s at the last page of the paper. You can choose your
pair. It will be your responsibility to communicate with the person you plan to pair with.

7. Submit your paper in Canvas. Use the following filename format: Critical Review
Paper_Family Name/s.
8. I will be using the following rubric for grading your paper:

Paper Below Average Average Good Excellent Points

Evaluation Awarded
1-10 11-20 21-30 31-40

Analysis is poor Average analysis Analysis is good. Analysis is

with viewpoints with viewpoints Viewpoints are excellently done.
Application not based on based on based on reasons Viewpoints are
of reasons and not reasons and and supported by based on reasons
Analytical supported by facts. supported by facts. Synthesis of and supported by
Skills (40 Synthesis of facts. Synthesis information is good facts. Excellent
Points) information is of information and it is sufficiently synthesis of
lacking in the in the paper is evident in the information is
paper superficial paper sufficiently
evident in the
paper
1-5 6-10 11-15 16-20

No clear focus on Establishes and Establishes and Establishes and

Clarity and the topic and maintains maintains clear maintains
Accuracy insufficient limited focus on focus and with excellent and
(20 Points) evidence of the topic and/or ample evidence of clear focus on the
accuracy limited evidence accuracy topic with ample
of accuracy evidence of
accuracy
1-10 11-20 21-30 31-40

Lacking Paper jumps Generally well- Paper flows

organization and from one idea constructed flow of logically to craft a
coherence. No to the next, ideas. Paragraphs cohesive
Organizatio connection of ideas lacking a clear are ordered argument.
n of the between structure. thoughtfully, each Paragraph clearly
paper (40 paragraphs. Occasional paragraph relates guide the reader
Points) Disjointed connection of to central through a
connection of ideas ideas between argument. progression of
between paragraphs. Transitional ideas. Uses
paragraphs. Simple sentences create a transitional
sequential logical transition sentences to
rather than develop strong
transitions relations
based on logic. between ideas.

Total Points
(100)