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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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