Essay Help!! (1 Viewer)

[jackii_87]

Hi!
The essay question seems really easy... but im just lost when i try to approach it?
the question is: explain the role os microecnomics in assissting the australian government in achieving its objectives.

that question does seem ok, but it seems like i have to write heaps? esp for micro.. the deregulation, taxation reform etC.. i'm really not sure as to wat to write about now..
first theres structural change and micro, then theres micro and individual sectors.. =S.. and.. government objectives too..

please help me;what the question is asking me, and wat i have to do? =S

 

[Rorix]

what are the governments objectives?
how can microeconomic reform achieve these objectives?
what are some examples of microeconomic reform assisting to achieve these objectives?
what have been the recent trends in the use of microeconomic reform in achieving the governments economic objectives?
what is predicted to be the role of microeconomic reform in the future? (if not discussed before).

 

[jackii_87]

thankss a million!!!!!!!!!!!!!

but in essays, teacher usually expects diagrams? like the D & S graph, wat graph should i show? the microeconomics supply one? the one with the striaght linee, then curves up? =S.. but wat does dat graph show?

btw, anymore suggestions as to what i can add to the essay? (i realli stuffed up my assessment for my first two.. but got my grip back in the last one.. dun wanna go downhill again... =/ )

 

[Rorix]

the expansion in aggregate supply has come due to an improvement in productivity due to microeconomic reform, it demonstrates how microeconomic reform expands the economy without rises in inflation -i've worded that bad but hopefully you can tell what I mean


basically just answer the questions i posed above in order, for the examples/recent trends/future trends talk about the major areas of microeconomic reform

 

[jackii_87]

how can microeconomic reform achieve these objectives?

is it by deregulation, taxation reform national competition policy reform, reforms to public trading enterprises?

 

[Rorix]

that's more like examples of microeconomic reforms rather than how reform can achieve the objectives

first you'd talk in general theory like microecononmic reform shifts the AS curve to the right, expanding the economy without a deterioration in the inflation rate. It does this by etc. etc.

then under the sections you should explain how these will achieve the governments objectives
e.g. the deregulation of industries will force firms to become more competative and result in a more efficient use of resources, which means that a higher rate of economic growth can be achieved without a deterioration in internal balance

expanded more than that but along those lines

 

[jackii_87]

oohhh...
i get it now!! thankss sooo much!!


The govt. objectives is to achieve a rate of economic growth which is consistence with low inflation and low unemployment (internal balance) and stabilizing the net foreign liabilities and net foreign debt as a proportion of GDP.

is that correct?

 

[grimreaper]

I think you should put the long run supply graph in (if youve seen it). Then you can explain why shifts in AD wont work to solve complex structural problems in the long run