Unemployment essay HELP! Preliminary HSC (1 Viewer)

[jackg133]

I have an economics assessment task due on Thursday the 28th of June and would like some help with the setting out / topics i must introduce.
Here's the question: Unemployment and underemployment are a cost to individuals and Australia. Discuss
In your essay examine
What unemployment and underemployment is?
What causes them?
Why are they a cost?
What can be done to address under and unemployment?
What is Australia's experience with under and unemployment?

So far I've got 2000 words and have just completed 'why are they a cost'. However some help would be greatly appreciated. The points I am using are:
What is un and underemployment?

• General statement and working definition
• Natural rate of unemployment
• Equation for unemployment rate
• General statement on the many types
• Utility - Y is the solution,labour is the main source of household Y

Underemployment:

• Working definition
• Trends
• Rates

Causes

• Types reflect causes
• Explanation of types - majority of body
• Low aggregate demand
• High labour prices
• High productivity
• New technology

Costs

• Underutilised resources
• Individual costs - low Y, lack of regard for education
• National costs -High Expenditure on benefits, Low Y tax, less demand for goods = lower GDP, sustained unemployment
• Community costs - Poverty, increased crime, immigration restrictions

ANY added and relevant tips would be good my info is limited and I am struggling in terms of what to use and what not to use. Inflation? Demand supply curves? Phillips curves?

Keeping in mind my class is only up to financial markets. Thanks

 

[Anjuu]

talk briefly about types of unemployment, ie structural cyclical. Make sure you integrate lots of stats on unemployment, and underemployment. For the NAIRU (natrual unemployment) identify the actual number (i think its around 5.5%) and explain why this number is so important. Your points are quite good just make sure you equally distribute time to different parts of the essay and elaborate well.

 

[jackg133]

Thanks Anjuu! I will do so