HI5003 Economics for Business

Topics for Individual essay

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 (Fixed costs, Variable costs, Marginal costs etc)
• 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 the above list
• 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 and the safe assignment report 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

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