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1) Choose a topic from Micro economics that matters to you and find a recent news article covering that topic. Following are some of the topics from where students need to choose ONLY one topic: - Mon

Question Preview:

1) Choose a topic from Micro economics that matters to you and find
a recent news article covering that topic. Following are some of the
topics from where students need to choose ONLY one topic:
- Monopolies, Duopoly and Oligopolies in Australia
- Demand and supply of certain resources in Australia
- Costs of production in manufacturing industry in Australia
- Reforms in Education, Meat, Agriculture and Tourism
Industries in Australia. Choose ONLY ONE industry out of this
list.
PL see the additional guidelines provided for this ...

View complete question »

Question Preview:

1) Choose a topic from Micro economics that matters to you and find
a recent news article covering that topic. Following are some of the
topics from where students need to choose ONLY one topic:
- Monopolies, Duopoly and Oligopolies in Australia
- Demand and supply of certain resources in Australia
- Costs of production in manufacturing industry in Australia
- Reforms in Education, Meat, Agriculture and Tourism
Industries in Australia. Choose ONLY ONE industry out of this
list.
PL see the additional guidelines provided for this assignment.
2) Evaluate the article using Economic concepts. You should include
x The essence of the story (1 to 2 paragraphs): Introduce the
issue, who is interested in it and why.
x The economic analysis (2 to 3 paragraphs): Explain how you can
present the issue in terms of economic concepts and theories
you have learnt in class.
x Explain your view (1 to 2 paragraphs): Explain what actions you
would recommend to the key players and/or policy holders. 
x Explain how the above analysis supports your conclusion (1 to 2
paragraphs).
3) You may provide graphs/charts/diagrams where necessary to
enhance your presentation style.
4) Students need to submit ONLY the Soft copy and upload on BB by
that time.

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Solution preview

Tourism industry in Australia

Australian tourism industry has registered phenomenal growth over the last two decades. With the resource sector’s growth rate declining dramatically due to weak local and global economic conditions, economists were apprehensive about sectors which would shore up nation’s wealth and spur growth and development in the country. The key question which different stakeholders confronted was how can Australian

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