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Purpose:
This assignment aims to enhance students’ research and analytical ability through the application of
their economic knowledge in the unit to compose a report.
The recommended assignment structure is as follows:
Table of content
Introduction
Market description
Changes in market condition(s) and their impacts
Conclusion
List of References.
Detailed requirements of the assignment
Organize yourselves into groups of 4 or 5 students and give your group details to your lecturer(s) no
later than Week 6 (for Normal Mode) or Week 4 (For Block Mode 1) and Week 8 (for Block Mode 2).
Late submission of group member list can result in your being unable to submit the group assignment
and awarded a mark of zero for the group assignment.
Find a recent news article discussing a change in market condition(s) of an industry in 2018-2019,
for example an observed change in market supply of a good/service or a change in consumers’ taste
and preferences for a good/service. The industry must be ONE of the following in Australia:
? Agriculture production
? Property market
? Mining industry
Using theories of economics, such as the demand and supply model and determinants of demand
and supply, explain the impacts of changing market conditions on the price and quantity of goods
or services traded. Support your analysis with market data.
The assignment must, as a minimum, include:
• an introduction;
• a description of the relevant market including the product or service, degree of
competitiveness, and market structure that characterises the market for that product or
service;
• an analysis (including appropriate diagrams) of how changing market condition(s) are
influencing, or have influenced, or may influence price and quantity, and
• a conclusion.
The news article you collect must be attached to your assignment.