Microeconomic Reform (1 Viewer)

[Tommy_69]

Does anyone have any essays on Microeconomic Reform???I really do not understand how to put a essay together on this topic. Can someone help me.

Thanks!!!

 

[Rafy]

Well my micro essay is basically structured as follows:

Intro:
Definition of Micro policy, Long term, structural, supply, aimed at efficency etc etc;
A breif discussion on the current micro reform agenda.
And then a statement that says that the focus of economic reform is micro, as macro has done all it can on the demand side, the reform now has to be on the supply side to achieve sustainable economic growth

loose paragraphs on the following (these wont exactly be my paragraphs, just things i want to talk about)

- Supply constraints / Infrastructure (i.e bottlenecks at ports, FDI mainly going into residential developments instead of the manufaturing sector for capital goods etc etc)
- Deregulation
- Trade policy (Move to free trade, removal of protection - The effect that has on our efficency)
- Competition (ACCC: Improve competition, to force businesses to be more efficent to compete etc)
- Privatisation
-Education/training (i.e the government opening technical colleges)
- Labour market reform (to improve productivity. The gov's Workplace relations Reforms, a discussion of that, and probally prices and incomes policy too)

- time lags / Limitations


Of course all of the will be assesed with a focus on the past, current, or likely effects on Unemployment, Economic growth, Inflation, external / Internal Stability, and income distribution.


The overall messge of the essay is that while micro is effective at influencing supply, the big picture must be taken, and it should be viewed in the overal economic landscape. It is the COMBINATION of macro and micro reforms that lead to sustained economic growth. Also that the current focus is micro reform as demand has peaked at the point where supply cannot meet demand.
As i said a few months ago:

...well currently, monetary policy is the only real macro policy being utilised (Fiscal policy, while slightly expansionary, has little effect) Even so, the RBA are really sitting around doing nothing.
That is beacuse macroeconomic policies only effect demand. The problem with economic management in Australia is now on the supply side. Macroeconomic policies can do little now to sustain economic growth, as the growth of the last 15 years has meant demand has peaked at the quanity we can supply. So to increase gorwth further we must increase our ability to supply so we can exploit higher demand (from a booming china etc)

So at the moment monetary policy its not effective at all in acheiving economic sucess and is indeed taking a back seat (As shown by the RBA really doing nothing to rates lately)

The gov needs some micro reform.

-

 

[Tommy_69]

thanks man

 

[Haku]

i think its also good to chuch in some dates and some real examples. like deregulating financial section in 1984, and the labor market in 1996. oh and talk about the current government plan on changing workplace relations and such. coming out first of nov

 

[MeehShanku]

Well my micro essay is basically structured as follows:

Intro:
Definition of Micro policy, Long term, structural, supply, aimed at efficency etc etc;
A breif discussion on the current micro reform agenda.
And then a statement that says that the focus of economic reform is micro, as macro has done all it can on the demand side, the reform now has to be on the supply side to achieve sustainable economic growth

loose paragraphs on the following (these wont exactly be my paragraphs, just things i want to talk about)

- Supply constraints / Infrastructure (i.e bottlenecks at ports, FDI mainly going into residential developments instead of the manufaturing sector for capital goods etc etc)
- Deregulation
- Trade policy (Move to free trade, removal of protection - The effect that has on our efficency)
- Competition (ACCC: Improve competition, to force businesses to be more efficent to compete etc)
- Privatisation
-Education/training (i.e the government opening technical colleges)
- Labour market reform (to improve productivity. The gov's Workplace relations Reforms, a discussion of that, and probally prices and incomes policy too)

- time lags / Limitations


Of course all of the will be assesed with a focus on the past, current, or likely effects on Unemployment, Economic growth, Inflation, external / Internal Stability, and income distribution.


The overall messge of the essay is that while micro is effective at influencing supply, the big picture must be taken, and it should be viewed in the overal economic landscape. It is the COMBINATION of macro and micro reforms that lead to sustained economic growth. Also that the current focus is micro reform as demand has peaked at the point where supply cannot meet demand.
As i said a few months ago:




-

ill hav the same intro as u, but i would probably add for the body tax reforms from the budget as well. of course i wouldnt go into major depth into the 7 reforms, but the bigget one i would do is the labour reform.

 

[vaniLLa_554]

Well my micro essay is basically structured as follows:

Intro:
Definition of Micro policy, Long term, structural, supply, aimed at efficency etc etc;
A breif discussion on the current micro reform agenda.
And then a statement that says that the focus of economic reform is micro, as macro has done all it can on the demand side, the reform now has to be on the supply side to achieve sustainable economic growth

loose paragraphs on the following (these wont exactly be my paragraphs, just things i want to talk about)

- Supply constraints / Infrastructure (i.e bottlenecks at ports, FDI mainly going into residential developments instead of the manufaturing sector for capital goods etc etc)
- Deregulation
- Trade policy (Move to free trade, removal of protection - The effect that has on our efficency)
- Competition (ACCC: Improve competition, to force businesses to be more efficent to compete etc)
- Privatisation
-Education/training (i.e the government opening technical colleges)
- Labour market reform (to improve productivity. The gov's Workplace relations Reforms, a discussion of that, and probally prices and incomes policy too)

- time lags / Limitations


Of course all of the will be assesed with a focus on the past, current, or likely effects on Unemployment, Economic growth, Inflation, external / Internal Stability, and income distribution.


The overall messge of the essay is that while micro is effective at influencing supply, the big picture must be taken, and it should be viewed in the overal economic landscape. It is the COMBINATION of macro and micro reforms that lead to sustained economic growth. Also that the current focus is micro reform as demand has peaked at the point where supply cannot meet demand.
As i said a few months ago:




-

how would you adapt this structure if the question was about how micro policies address a specific economic issue like inflation?

 

[MeehShanku]

how would you adapt this structure if the question was about how micro policies address a specific economic issue like inflation?

isnt inflation towards marco??

 

[sk8ie_boi]

isnt inflation towards marco??

yeah, well basically micro is trying to control long terms objectives while macro is short term.. and since inflation is always fluctuating .. then i guess its short term ..

well i guess micro can control inflation .. for example at the moment.. the high petrol prices is pushing inflation up to 3% .. where it is 2.1% without counting fuel .. then the government may try to introduce alternative sources of energy .. and ain't dat part of micro reform?

 

[vaniLLa_554]

isnt inflation towards marco??

well i guess micro can control inflation .. for example at the moment.. the high petrol prices is pushing inflation up to 3% .. where it is 2.1% without counting fuel .. then the government may try to introduce alternative sources of energy .. and ain't dat part of micro reform?

well...
macro policies deal with demand-pull inflation
micro policies deal with cost-push inflation

i was having trouble structuring my essay.. on how micro reforms contribute to lower inflation..... but i think im just going to relate each para/reform back to inflation

 

[sk8ie_boi]

well...
macro policies deal with demand-pull inflation
micro policies deal with cost-push inflation

i was having trouble structuring my essay.. on how micro reforms contribute to lower inflation..... but i think im just going to relate each para/reform back to inflation

umm there .. because micro deals wif the supply side, and by having reforms .. the production becomes more efficient .. and less expensive for production.. and therefore decreases inflation pressures??

 

[Haku]

Rafy, beside an essay plan, do you have a typed up micro essay for us to look at?

 

[sk8ie_boi]

here's a quik essay dat i typed up before the trials .. haha .. it's really shit tho, I'm fixing it up tomorrow ..