ECON7002 Essay Assignment

ECON7002 Essay Assignment Order Description Task: Choose a newspaper article describin" rel="nofollow">ing and explain" rel="nofollow">inin" rel="nofollow">ing recent developments in" rel="nofollow">in a specic market. Write a approx. 1500 word essay critically analyse the article usin" rel="nofollow">ing economic concepts taught in" rel="nofollow">in the course, and provide an alternative poin" rel="nofollow">int of view from the one stated in" rel="nofollow">in the article. Eligible Articles are to be chosen from English language newspapers only and must have been published after the 1st Jan 2017. Some examples of eligible newspapers: New York Times, The Australian, Brisbane Times, Courier Mail etc. Articles from less formal news sources such as blogs or news aggregators are not permissible. Please check with your tutor or course coordin" rel="nofollow">inator if you have any doubts. Attach a copy of the text of your chosen article in" rel="nofollow">in your essay and the URL of the article, for the reference of the marker. The Essay Should: demonstrate a good understandin" rel="nofollow">ing of the dierent aspects of the in" rel="nofollow">industry in" rel="nofollow">in question. present quantitative data, back its arguments by evidence from sources. - lack of empirical data or evidence would be severely penalized. use the Harvard referencin" rel="nofollow">ing style in" rel="nofollow">in the body of the essay, and provide a full list of correctly documented references at the end of the essay. adhere with formattin" rel="nofollow">ing and style requirements: double spacin" rel="nofollow">ing, font size of 12. use correct spellin" rel="nofollow">ing and grammar. Keep the writin" rel="nofollow">ing short and to the poin" rel="nofollow">int. Fallin" rel="nofollow">ing under the word limit would not be penalized, but unin" rel="nofollow">intelligible writin" rel="nofollow">ing would. adhere with rules of academic honesty Organization of Essay 1. Introduction of Article (100-150 words) Very briey in" rel="nofollow">introduce and summarize the article's main" rel="nofollow">in poin" rel="nofollow">ints, in" rel="nofollow">in particular takin" rel="nofollow">ing care to : Dene the market bein" rel="nofollow">ing discussed in" rel="nofollow">in terms of the good or service bein" rel="nofollow">ing traded the geographical boundaries of the market Coal (even if min" rel="nofollow">ined in" rel="nofollow">in Australia) is likely to be traded in" rel="nofollow">in the global market, while the market for haircuts is likely to be localized to specic suburbs. Win" rel="nofollow">ine when sold in" rel="nofollow">in Australia are likely to be subjected very dierent regulations and taxes from win" rel="nofollow">ine sold in" rel="nofollow">in another country - hence we might consider the Australian retail market for win" rel="nofollow">ine to be separate from the market for win" rel="nofollow">ine in" rel="nofollow">in (for example) Sin" rel="nofollow">ingapore as the market environments are quite dierent. Clearly describe the developments or changes in" rel="nofollow">in this market the article refers to. 2. Critical Analysis of Article (400-500 words) Carefully describe the view held by article's author, and provide support and justication for the article's position. What explanations did the article oer for changes in" rel="nofollow">in the market? From the perspective of the article, is this development positive or negative? What underlyin" rel="nofollow">ing assumptions do you thin" rel="nofollow">ink the article relies on? Can you apply economic concepts learnt in" rel="nofollow">in the course to justify the article's poin" rel="nofollow">int of view? Are there any aws in" rel="nofollow">in the economic reasonin" rel="nofollow">ing behin" rel="nofollow">ind the article's argument? If so, what are they? 3. Provide a Dierent Perspective (400-500 words) Reect on the article's assumptions and present your own alternative perspective based on new assumptions analysis based on economic theories and ideas taught in" rel="nofollow">in the course explain" rel="nofollow">ined usin" rel="nofollow">ing relevant diagrams, data and possibly calculations. 4. Conclusion (200-300 words) Identify one or two in" rel="nofollow">interestin" rel="nofollow">ing ideas you have learnt from this assignment. How would you apply these ideas in" rel="nofollow">in your day to day life or work? It is in" rel="nofollow">intended that you apply concepts covered in" rel="nofollow">in the lectures, tutorials, and textbook. The assignment is deliberately designed to assess your ability to apply theoretical concepts from the course in" rel="nofollow">in everyday economic contexts. Simply repeatin" rel="nofollow">ing economy concepts in" rel="nofollow">in your essay without any attempt to show how these concepts relate to content of the article bein" rel="nofollow">ing discussed is not enough. So in" rel="nofollow">industry-specic in" rel="nofollow">information and data would be critical to gain" rel="nofollow">inin" rel="nofollow">ing a good grade for this assess- ment. It might be a good idea to pick articles with arguments that are obviously awed or biased from an economic perspective as it makes your job of critical analysis simpler. (Though it takes a good understandin" rel="nofollow">ing of the course content to identify such aws in" rel="nofollow">in economic reasonin" rel="nofollow">ing.) Some economic concepts you should consider Market Structure: Monopoly, Monopolistic Competition, Oligopoly, Perfect Competition. Determin" rel="nofollow">inants of market structure such as ease of market entry. Determin" rel="nofollow">inants of market supply and/or demand such as Substitutes or Complements Production in" rel="nofollow">inputs Who the buyers and sellers are. Consumer and producer surpluses, and deadweight losses. Positive or negative externalities associated with market outcomes. Please choose your article as soon as possible. Please discuss your choice of article with your tutor or with the course coordin" rel="nofollow">inator to ensure that your choice of article is appropriate. Graphs and diagrams are very useful for discussin" rel="nofollow">ing and communicatin" rel="nofollow">ing ideas. Essays without any graphs or diagrams may be penalized. The word count of 1500 words is only a guide. A well-written 1000 word essay would recieve very high marks while a poorly written 2000 word essay would be graded very poorly. Some further tips on a good critical review: You will need to be very clear on the view(s) of the news article and show a clear understandin" rel="nofollow">ing of the arguments put forward. Take a position on what the article is tryin" rel="nofollow">ing to convey. Form a viewpoin" rel="nofollow">int you will take and state it in" rel="nofollow">in a sentence or two. It's not about acceptin" rel="nofollow">ing everythin" rel="nofollow">ing you read, but more about questionin" rel="nofollow">ing, evaluatin" rel="nofollow">ing, ndin" rel="nofollow">ing lin" rel="nofollow">inkages, makin" rel="nofollow">ing judgements. The more dicult critiquin" rel="nofollow">ing aspect will require you to identify the relevant assumptions made in" rel="nofollow">in the theory, assess the relevance of the arguments put forward in" rel="nofollow">in the news article, consider the eects of changin" rel="nofollow">ing any assumptions made, explorin" rel="nofollow">ing the relationships between theory and practice, and oerin" rel="nofollow">ing alternative arguments. The key to critiquin" rel="nofollow">ing will be to be able to oer alternative views that are able to be defended and can be shown to be well supported (by theory and/or applications). A good reference for writin" rel="nofollow">ing critical review essays is Chapter 6 of Carnegie, K. L. Assignment writin" rel="nofollow">ing handbook 2nd. ed. Brisbane, Qld: School of Management, Univer- sity of Queensland, 2001. The text is available onlin" rel="nofollow">ine on the UQ Library website.