HI5003 Economics for Business

HI5003

                        Economics for Business

                                    Tri1 2014                   

            Topics for Individual essay  DUE Week 7

Choose any One topic from the following list:

• Scarce resources- which resource and in which country/industry and what are being done in the industry or country  
• Opportunity cost – faced by any company or country or government in choosing something and leaving other alternates

For example – delay in setting up broad band in Australia or not building up infrastructure like high speed rail, roads, housing or ports etc

• Micro economics – study of individual behaviour – individual industry like education, meat industry, tourism and agriculture.
• Gains from trade – increased production and becoming specialised in certain industries. Australia or any country
• Comparative advantage/Absolute advantage  -
• Free Trade agreement with Japan and Korea and its affect on Australian economy, jobs and GDP.
• Demand and supply of certain resources or products/services in Australia or world wide or factors other than price which affect demand and supply
• Elasticity of demand, Income elasticity and cross elasticity
• Costs of production
• Market structures like Monopoly, Duopoly, Oligopoly and Monopolistic competition

Structure of the Essay

• Introduction – which topic 200 words
• Body- Discuss the topic in the article and with some theory -700 words
• Conclusion 100 words

Note=

• More marks for research – choosing a good article on something specific topic from MICRO economics only
• Theory should not be more than 300 words
• More marks for application and your comments on the topic
• You need to attach the copy of the article with your essay
• Upload the soft copy on BB
• Following are the good sources of the articles:
• BRW
• Economist
• Australian Financial Review
• Australian
• Sydney Morning Herald
• Fortune
• Boss
• RBA/ABS
• Proquest or any other data base