EC1108 Skills for Economics 1 Assignment 1 , 2026 | University Of Galway

EC1108 Assignment 1

Information and Instructions

• Assignment 1 counts for 30% of the overall marks for the EC1108 Skills for Economics I Module
• Deadline for Submission on Canvas: 11pm on Friday 31^st
• Students must upload their Excel and Word files to Canvas. The Excel file should include the data and graphs.
• Save your Excel and Word files regularly as you work through the assignment so that you do not lose any of your work. Back up your work to One Drive to ensure that you will always have access to it.
• Please ensure that your work in Excel is saved as an Excel file with the correct file extension –.xlsx

Instructions for Questions 1 and 2

• Questions 1 and 2 should be completed in ONE Excel file, and this file must be uploaded to Canvas.
• You should use two separate worksheets in your Excel file, one for Question 1 and one for Question 2.

Assignment Questions

• The answers to Questions 1 and 2 should be included in ONE Excel file as outlined above.
• Students should upload TWO files in total to Canvas, ONE Excel file and ONE Word file. The Word file should include the graphs from Question 1 and Question 2 in your Excel file.  You are required to copy the graphs into your Word file.

Question 1

Your answer to this question should include one diagram in Excel.

(a) Using the following information on the supply and demand for mobile phone covers draw the demand and supply diagram for mobile phone covers using Excel. Please ensure that the diagram is drawn and labelled correctly.

• The diagram should include a chart title, and axis titles. The chart title should be The Market for Mobile Phone Covers.
• The diagram should not include any gridlines, and the demand and supply curves should be labelled as outlined in the recordings on Canvas.
• The equilibrium price and quantity should be illustrated and labelled in the diagram.

(b) An increase in the population results in an 8,000 increase in the quantity demanded at each price level. Illustrate the impact of this on the market using the diagram you drew in part (a). Illustrate and label the original and new equilibrium price and quantity in the diagram.

(c) Copy your graph into your Word document and write a short note to explain how the change in demand impacts on the market for mobile phone covers.

Question 2

(a) Using the information below draw the Production function in Excel. The diagram should be labelled correctly and should not include any gridlines or legends.   The diagram should include the following chart title Production Function.

(b) Copy your graph into your Word document and answer the following questions. What type of relationship exists between the two variables.  What can you say about the slope of the curve?

Question 3

In this question, you are required to apply your knowledge of Microeconomics.  In particular, you are required to apply your knowledge of the determinants of demand and supply and how a change in those determinants impacts on the supply and demand curves.

Using three separate supply and demand diagrams drawn in Word illustrate and explain the impact of each of the following events on the market for Irish tomatoes.  What happens to the equilibrium price and quantity of Irish tomatoes?  To answer this question, you should use general demand and supply diagrams without figures.  Your initial equilibrium price and quantity should be labelled as P_e and Q_e.  Your new equilibrium price and quantity following the event should be labelled P₁ and Q_1.

• The cost of running tomato green houses falls due to a decrease in electricity prices.
• Consumer income decreases.
• A report is published saying that tomatoes contain lots of antioxidants and are good for your health and the number of Irish tomato producers increases.

HINT:  If only one event occurs only demand or supply will change, not both.  If two events occur both demand and supply may change.

Please ensure that the diagrams are labelled correctly.  They should include axis titles, and the original demand and supply curves should be labelled D₀ and S₀.  The new demand and/or supply curve should be labelled D₁ and S_1.