Topic : Cigarettes prices in UK (2014 - 2017)Key questions you would like to answer using Prices and Markets concepts learned (not more than 3 questions)Why does cigarettes prices in Singapore change?Who gains and who loses due to the change in price/quantity?Should the government intervene (ie, is there a market failure)? How should they do that?For each question, what are the concepts you are going to use and how these concepts helpChanges in cigarettes prices: Comparative Statics to explain the change in equilibrium priceWho gains and loses: Welfare Analysis (Consumer/Producer Surplus changes) to evaluateGovernment intervention: explore if there is a market failure, if there is, what type of market failure it is, and how should the government intervene and what is the limitation of government intervention
The files i sent is for the whole module, for this project itself, its only based on assignment 2
PaMSingapore2020sem2.key 285 Prices and Markets A Primer on Writing Academic Reports for Economics Subjects 1. Choosing Topic and Question 2. Finding Information 3. Reading for Understanding 4. Academic Writing 5. Academic Integrity 6. Communication Etiquette 1. Choosing Topic and Question In economics a topic is a case of a resource allocation by one or more economic agents. The value and quantity of the resources allocated are often the variables in your topic. A specific topic is one particular instance of a resource allocation (i.e. in a specific context, time and place). When you are asked to pick your own topic, you could pick a topic that (the more apply, the better): • interests you personally and/or professionally • you have some expertise in or are familiar with from work/personal experience • you are able to access facts and information about • that has come up in the media or in conversations you’ve had recently You need to formulate a precise, specific and focussed question about your chosen topic, i.e. regarding your chosen variables, specific time and place. Find information on your chosen topic to formulate a question that is: • feasible and sensible - it can be answered • interesting and important - there is a “so what” • new - it does not have an obvious answer everybody already knows To find inspiration, keep your eyes peeled for potential topics when you read/watch the media and talk with others. In economics a question is an unresolved issue in a topic regarding how different variables in the topic are related to one another: What causes X and under which conditions? What is the effect of Y and Z on X? When we answer economic questions we provide explanations and predictions for policy (see lecture 1.2.1.). 2. Finding Information Good science writing means you stand “on the shoulders of giants” - don't re-invent the wheel but rely on others who wrote on this topic before you. Always reference, i.e. attribute your points to the original source that informed you. • You need to go beyond course textbooks! • There are different types of sources you may use including • Specialist textbooks on your topic (e.g. Economics of the Public Sector is a textbook on market failure) • Journalistic sources - magazines and newspapers (The Economist, Financial Review, Financial Times) • Encyclopaedias and dictionaries of economics • Government and NGO reports and databases (UN, World Bank) • Statistical websites (Nationmaster, Statista, Worldometer, IndexMundi) • Use internet sources such as Wikipedia judiciously - not all are authoritative and trustworthy • Academic journal articles - survey articles, original studies, working papers • Research books written by specialist researchers • Identify your sources: • “Reference trail”: Look at a reference in one source and then the references in that referenced source etc • Follow particular authors on a topic (e.g, on their Goggle Scholar profile or uni webpage) • RMIT Library search • Google Scholar, Google Books and amazon.com • Physically browse library shelves by relevant classification code 3. Reading for Understanding Academic reading is gaining greater understanding (rather than information or entertainment) from symbols by an absent instructor. It is an important skill to make studying easier and learn more effectively. Adler’s 4 levels of reading (from: Adler and van Doren, How to Read a Book) 1. Elementary reading: deciphering and vocabulary 2. Inspectional reading: skimming (title, preface, dust jacket, content list, index, summaries and key paras) and superficial (speed-reading w/o stopping) 3. Analytical reading: • Pigeon-holing (is this source: fiction/non-fiction, journalistic/academic, textbook/research, lit survey/study, practical/theoretical?) • X-raying (What are: main theme, structure, parts, question and answer, main arguments and terms) 4. Syntopical reading: Locate book in literature, assess significance, identify relevant parts and point of view Reading Aids • Annotate reading to expose structure, concepts and relate to literature (use underlines, vertical lines and margin notes, summaries, number points, references to other pages) • Keep database of each source’s full bibliographic details (names of all authors, title, original publication date, edition, publisher and place, journal name, volume, issue and page numbers • List different studies’ methods, sample size and breakdown, date, theory used, main findings using table/ spreadsheet • Use dedicated software (Mendeley, EndNote, BibDesk, Zotero) 4. Academic Writing • Writing • Develop a daily writing habit - you can't run a race unless you train every day • Know your audience - adapt your style depending who are you writing for • Adopt clear and concise writing style - short sentences that build a coherent argument or story step by step • Use (but introduce) specialist terminology but avoid meaningless jargon just to to impress • Avoid contractions, personal stories, colloquial language and humour • Always obey grammar and spelling rules - use spellcheck, Grammarly and finally proofread carefully Academic research needs to be communicated well to have impact - The key elements are your writing, the structure of the work and its presentation. • Style and presentation are important as well as content but use style to better communicate, not to dress up • Use consistent style (section numbering, line spacing, margins, typeface, font size, bibliographic style) • Use style features e.g. footnotes, quotes, graphs, images, text boxes, tables, definitions, lists as appropriate • Use a consistent referencing style (e.g. MLA, Chicago, Harvard) • Structure • Structure clearly based on line of argument - introduction, literature, analysis and conclusion are the common parts • Place signposts at end/beginning of sections: “We just saw that … now we will examine …” • Use different project parts such as as dedication, preface, executive summary, acknowledgements, contents list, appendices, index as appropriate (longer pieces tend to have more such parts) 5. Academic Integrity Cheating in assignments causes several serious problem for the cheater as well as others. It undermines: • Self-confidence and self-respect • Learning • Career prospects • Fairness to students • Efficiency of running courses • Reputation of your degree • Lecturer motivation and job satisfaction • Reputation of whatever group the cheater is seen to represent Avoiding Plagiarism: The work submitted should be entirely the authors’ own except where the work of other authors is used and fully attributed. Academic cheating is similar to lying and stealing. Most of us see themselves as moral and ethical people. We value and respect others who we think have good morals. Do not participate in this problem. 6. Communication Etiquette Writing is communicating with an absent audience. How we communicate influences the success or failure of any interaction, with readers, in business and life. It is more common than ever but very different to face-to-face. Writing Emails ✘ ✔ For an unknown recipient, you can use “Dear Sir or Madam” when writing formally. Informally “Hello” or “Hi there” will not be frowned upon. A known person should be formally addressed as “Dear”, or informally maybe using “Hi” or “Hello” followed by both their title and name. Hey Matey Dear Hoffmann Hi Robert Dear Rob Academics are used to being addressed by their highest titles: • If someone has a doctorate/PhD then call them Dr X • Full professors are addressed as Professor X, without any Dr Dear Dr Hoffmann Dear Sir Dear Professor Hoffmann If someone has invited you to use their first name then you may use that name without any title - but don’t make up your own version! Hi Robbie Hi Rob Spell their name correctly! Incorrect spelling shows lacking care and respect for the addressee. Spellcheck and proofread your email. Dear Professor Hoffman Dear Professor Hoffmann Always be polite even when you have a grievance. Without seeing the sender’s face or hearing their voice an email sounds more abrupt then it was meant. Also not seeing the recipient as they receive the communication reduces the sender’s inhibitions. Sleep on an email if in doubt. assessmentguidelinesPAM(all 2021)(version2).pages ECON1020/1025 - Semester 1 2021 Prices and Markets Assessment Guidelines Professor Robert Hoffmann Assessment Task 1: Online Quiz (10%) Assessment Task 2: Microeconomic Analysis Report (40%) Assessment Task 3: Microeconomic Case Analyses (50%) Assessment Task 1: Online Quiz (10%) This is a multiple choice quiz worth 10 marks. It is based on all the material from weeks 1-3 (lectures and tutorials). You must access and complete it on Canvas. The quiz will consist of 10 questions and you have 60 minutes to complete it. All questions are equally weighted. There is no negative marking (where a wrong answer loses you marks). You will get one attempt at this quiz. You will not be able to to go back to a previous question once you submitted your answer to it. The below quiz and the weekly tutorial quizzes provide some guidance as to what the assessment task 1 will look like in terms of format and type of questions. Sample Quiz 1. Based on the table below, using the midpoint formula, what is the income elasticity of demand for good X? -3.5 -0.29 0.29 3.5 2. Which of the following statements is not correct, based on the figure below? When the price is $10, quantity supplied equals quantity demanded. When the price is $6, there is a surplus of 8 units When the price is $12, there is a surplus of 4 units. When the price is $16, quantity supplied exceeds quantity demanded by 12 units. 3. Which of the following phrases best captures the notion of efficiency? Minimum Waste Absolute Fairness Equal Distribution Equitable Outcome Income Q of X Purchased $30,000 2 $40,000 6 4. Suppose Jim and Tom can both produce baseball bats. If Jim’s opportunity cost of producing baseball bats is lower than Tom’s opportunity cost of producing baseball bats, then Tom must have an absolute advantage in the production of baseball bats. Jim must have an absolute advantage in