microeconomic essay question HELP PLZ (1 Viewer)

[ma bad]

hi im preparing for HSC as everyone is but im a bit confused about how to write this essay and would really appreciate some help thanks. the question is:
'analyse the role of microeconomic policies in promoting structural change and improvements in productivity in the Australian economy'

 

[williamc]

'analyse the role of microeconomic policies in promoting structural change and improvements in productivity in the Australian economy'

Intro it:

The Australian gov has imlemented a vast range of microeconomic policies to to promote structural change with the aim of improving productivity and effeciency in the long term. (expand, maybe a few definitions) Talk about how this is achieved through the 3 aims of resource allocation. And generally introduce what u are going to speak about. Id proally rave on about microreform being seen as "supply economics"

Maybe a para on why structural change occurs (changes in consumer demand and tastes, and technological change ie. computerisation)

Para's on how microeco reform is implmeneted.
1) Deregulation of financial and labour markets (page proally)
2) Reductions in protection. (talk about types of protection, and expand with reductions of tariffs maybe even introduce WTO and multi and bilateral agreements, easy write a page or 2 on hwo this aims to increase producvity) Id draw diagrams on how changes in trade protection are going to effect SUPPLY.
3) maybe even date back to floating of dollar in 83 (expand into how this aims to imrpove producvity through making the workforce more intern. competive through market force flucuations of the dollar)
4) labour market reforms: id fucken love this, id rave on about how JH is a champ with those AWA's, increasing the flexibility of the labour market. Id chuck in some buso with the disupute resoultion process just to show extended knowledge and how this aims to increase producvity through these "individual contacts".

Conclude it.

Write 12 pages + easy.

Off the top of my head someone could add.

 

[ma bad]

thankyou sooo much williamc that is really appreciated

 

[MyLoveIsPure]

Intro it:

The Australian gov has imlemented a vast range of microeconomic policies to to promote structural change with the aim of improving productivity and effeciency in the long term. (expand, maybe a few definitions) Talk about how this is achieved through the 3 aims of resource allocation. And generally introduce what u are going to speak about. Id proally rave on about microreform being seen as "supply economics"

Maybe a para on why structural change occurs (changes in consumer demand and tastes, and technological change ie. computerisation)

Para's on how microeco reform is implmeneted.
1) Deregulation of financial and labour markets (page proally)
2) Reductions in protection. (talk about types of protection, and expand with reductions of tariffs maybe even introduce WTO and multi and bilateral agreements, easy write a page or 2 on hwo this aims to increase producvity) Id draw diagrams on how changes in trade protection are going to effect SUPPLY.
3) maybe even date back to floating of dollar in 83 (expand into how this aims to imrpove producvity through making the workforce more intern. competive through market force flucuations of the dollar)
4) labour market reforms: id fucken love this, id rave on about how JH is a champ with those AWA's, increasing the flexibility of the labour market. Id chuck in some buso with the disupute resoultion process just to show extended knowledge and how this aims to increase producvity through these "individual contacts".

Conclude it.

Write 12 pages + easy.

Off the top of my head someone could add.

wow...your a freak...get a life?

I hate eco.

 

[nod089]

Talk about how a decrease in protection leads to an increase in productivity. This is because an increase in competition leads to business firms needing to improve efficiency (technical, allocative, dynamic) in order to survive.

Probably include a definition of Structural Change in there as well.. ie- A long-term widespread change of an economy's structure, where entire industries dissappear as others emerge.

 

[sk8ie_boi]

4) labour market reforms: id fucken love this, id rave on about how JH is a champ with those AWA's, increasing the flexibility of the labour market. Id chuck in some buso with the disupute resoultion process just to show extended knowledge and how this aims to increase producvity through these "individual contacts".

There's also a counter argument to this. The WorkChoice laws can actually decrease economic performance. As an example in New Zealand, where once the Work Relations legislations was introduced, the economy slowed down dramatically. Then, after years of review, the legislation was abolished and economic growth went back to normal.

Therefore, we can say in theory that deregulating the labour market is a factor to economic growth, but it may not work in a practical sense.

On a personal note, just think about it ... "if workers don't get paid as much as before, then where's the consumption coming from? or savings? which goes to investment...."

 

[sk8ie_boi]

Also put theory then give examples .... deregulation .... privatisation ...

E.g. introduction of Optus ... to compete with Telstra