ECONOMIC Assignment (deadline 27 August 2018)
Research essay 30 marks
Length 3000 words
Explain the market failure associated with negative externality .Choose an industry from your home country that creates a negative externality.(Hint :this is your case study that you need to describe in details ,provide relevant information ,use table ,diagrams where appropriate).
How does the government address the negative externality in your case study ?Explain using economic theory and illustrates it on a diagram.Suggest your ways in which the market failure associated with negative externality can be addressed.Explain using economic theory and a diagram.(Hint :use real life data from your case study)
Identify the market structure your case study belongs to.(Hint :Briefly expain four market structures and identify the key factors that distinguish them such as number of sellers ,type of product,entry condition,profit and losses in the short and long run .Identify the key characteristic of your chosen case study in realtion to the factors used to differentiate between the market structures.Use real data from your case study)
Using your case study,evaluate the efficiency of your chosen industry (Hint :compare the allocation of resources and market outcomes between your chosen industry and perfectly competitive market structure using theory and real data from your case study ).(26 marks)
Additional marks (4)
• Overall presentation of work ,Especially use of graph ,Clear written expression (2 marks)
• Appropriate use of referencing(2 marks)
• You must refer to the textbook in the first instance.Besides the textbook you should also refer to a few other academic books , journal articles and relevant websites in answering these questions.
• Use in text referencing and provide a list of references.
• All submission for this course must use the American Psychological Association(APA) referencing style(Ddetail can be obtained at https://www.cqu.edu.au/student life /services/ and facilities/referencing /cq university referencing guides)
• Concept must be defined accurately and completely.
• The assumptions upon which the analysis is based must be stated at the onset.
• Diagram must be drawn properly correctly labelled and the relations they depict explained.
• Photocopied and scanned graphs from books ,articles or website are not acceptable.It is our preferable to hand draw graph then scan it to insert in your file.
• Answer must be complete ,addressing the specific tasks nominated in the questions.
• Remember an extension is not a gift ,it is a burden.
(My home country is NEPAL)