Use principles, models and/or theories from economics to apply to the environment of COVID19.

Use principles, models and/or theories from economics to apply to the environment of COVID19.You can think about macroeconomics impacts, microeconomic impacts, behaviour change, oranything as long as you are applying economic understanding to the situation.SurplusFinancial lossFinancial gainFearsJob lossBusinesses closing due to people leavingFinancial benefits decreasing or unstableMental healthMicroeconomic principles: Law of supply, demand, costs, utility maximizationModel- demand curve (graphs) balance of supplies. Two types of models- Theoretical and empirical modelTheory- neo- classical theoryMacroeconomics- behaviour and performance of the economy as a whole, focuses on economy changes- unemployment, growth rate, gross domestic product and inflation.

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