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Microeconomic essay (1 Viewer)

manscux

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Oct 29, 2011
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Hi guys here is my second essay that i did. it was on the microeconomic question

PLEASE see what i would get for this --> i wrote 9 pages

define factor market
natural resource --> carbon tax
-how under a free market the price mechanism fails to take into account social costs
carbon tax --> a market based policy --> a tax levy
carbon tax will make producers change theri behaviour and developde more ESD strategies
this eases pressures on both non-renewable resources and renewable resources.
allows us to have sustainable ESD
essential for australia who has an economy reliant on natural resources

labour market --> labour market reform
talk about accords --> what effect
talk about AWA --> effect
government under FWA has stroke a balance between decentralisation and centralisation.
this has allocated resources, increase productivity but more so seen increase in the QUALITY OF THE labour force
labour market reform has seen increase in education facilties like vocational programs
examples
this tends to increase international competitiveness as a produvtive and high performance labour force reduces costs

capital --> decentralisation of finacial market
has sen decentralisation through reducing collusion, price fixing and market sahring
allowed greater international investment increasing supply of capital
how ever deregulation needs balance
economists believed that deregulation has gone to far and thus the reason for the bail out of major banks

reform in factor markets impact the product market through reduced prices which consumers can enjoy while businesses increase produvtyivity and compete on a world level
define product market
talk about competion policy and how it has tended to impact the factor market holistically.
works on pricipel of workable competition
has achieved deregualtion through reducing monopolisation and opeing product nmarkets to where a natural monopoly exists

transportation industry --> deregualtion
has seen lower costs while made product markets more internationally competitive
example of air line industry
- deregulation of twin airline policy
has seen more comeptitors to come seing prices to reduce
while also allowed consumers more choice especially with what is happening currently with qantas and industrial disputes

trade policy --> has seen prices reduce of goods as they are faced with greater competition.
australia has reduced trade restrictions stats
effect on agriculture industry.
by geting involved in FTA like SAFT aslo seen greater trade and allowed agriculture to be trade cheapily not just in australia but overseas aswell

micro is supply side and is needed as macro on itself faces a speed limit
however currently micro has slowed and economists argue more is needed


please comment

thankss
 

funkygirl59

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I hadn't thought about micro too hard since i did exchange rates, but the structure you have looks good. i.e. getting an example in for each one and making some links about macro and micro and plans for the future. May have been good to chuck in specifics like innovation and industry policy, national competition policy, COAG, but i think you made your point so i'm sure you'll get 18-19
 

manscux

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Oct 29, 2011
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I hadn't thought about micro too hard since i did exchange rates, but the structure you have looks good. i.e. getting an example in for each one and making some links about macro and micro and plans for the future. May have been good to chuck in specifics like innovation and industry policy, national competition policy, COAG, but i think you made your point so i'm sure you'll get 18-19
Hi, yah i know....

i did talk about national competition policy but not the others, i didn't have time and i wouldn't think they would want everything in detail as their is a lot to cover
 

manscux

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Oct 29, 2011
Messages
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HSC
2012
Hi, yah i know....

i did talk about national competition policy but not the others, i didn't have time and i wouldn't think they would want everything in detail as their is a lot to cover
bump
 

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