Please make sure that your submission is stapled, typed (if at all possible) and inserted in the large brown cabinet (in your tutors slot) opposite Room 207 on the flrst floor of St. Anthony’s (Economics Department). Please keep a copy for your own records (and bring along to the following weeks tutorial) NB: Grading marked on a O (awful standardl 3 (poor standardl 6 (0k standardl 9 (good standard), 12 (very good standard) and 15 (excellent standard) scale.
A Case Study using demand and supply analysis The Irish housing market during the Celtic Tiger years Your economics assignment Is to write an article on the Irish housing (residential property) market during the years of the Celtic Tiger (that is, before the property collapse and the recession). Using demand and supply analysis, write a short account of what happened In the Irish housing market during the late 1990s/early 2000s. when average real house prices trebled.
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In this article, identify the factors that influenced the demand for and supply of housing. Explain why prices increased and support your claims with house price data (see below). Many of the key terms equired for your article are listed here, including both demand-side and supply-side factors i. e. reasons for changes in the demand for housing and the supply of housing. Note: The class discussion In tutorial 3 will give you some background material and information which should be helpful when writing the article.
Key Words/Terms Economics fundamentals, demand and supply-side factors, Celtic Tiger, increases in national income, employment numbers, demographics, population increase, natural Increase (baby boom), migration and emigration, low Interest/mortgage rates, cheap nd plentiful credit, euro membership, bank lending, construction boom, urban planning and zoned land for development, building costs, property-related tax breaks for developers, soft landing, speculation, asset bubble, commercial property, rents Word limit third page).