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ECON3009 Research Assignment
There are two parts. Part A is worth 10% and is due on Sunday, 5 May 2024, 11.55pm. Part B is worth 15% and is due on Sunday, 2 June 2024, 11.55pm. Please follow the instructions (such as word limits) on iLearn in the “Assessment description: Research Assignment”.
Part A: due Sunday, 5 May 2024, 11.55pm (Week 9)
(i) (2 marks) Discuss your strategy for the in-class interactive exercises where you had to choose the closest number without going over?
(ii) (2 marks) Discuss your strategy for the in-class interactive exercise where you had to pick a number which was closest to two-thirds of the group average?
(iii) (2 marks) Discuss success for the in-class interactive exercise where you had to give ranges that you thought had an 80% chance of including the true value (i.e. how many ranges out of 5 should include the true value and what do other outcomes imply)?
(iv) (4 marks) The Australian Competition and Consumer Commission (ACCC) is conducting an inquiry into supermarket industry structure and pricing: https://www.accc.gov.au/inquiries-and- consultations/supermarkets-inquiry-2024-25/issues-paper
Please write a brief submission which addresses point 1 and 2 on page 10 of the issues paper:
“ Market structure and impact on level of competition
Please provide feedback on:
1. Whether there is effective competition in the supply of groceries in Australia, and particularly between supermarkets.
2. Market structures for the retail supply of groceries in Australia.”
Part B: due Sunday, 2 June 2024, 11.55pm (Week 13)
(i) (3 marks) What was your strategy for the in-class interactive exercise in Week 11 where you had to pick a number which was closest to two-thirds of the group average? Was your strategy or choice different to the similar exercise from earlier in the semester? Would your strategy/choice have been different if you played the same game with a group of high-school students who had not played the game before?
(ii) (2 marks) Discuss success for the in-class interactive exercise in Week 12 where you had to give ranges that you thought had an 80% chance of including the true value. Please discuss whether your outcome (i.e. how many ranges included the true value) was similar or different to the corresponding exercise earlier in the semester and discuss possible reasons for similarity or difference.
(iii) (5 marks) Evaluate the equity (fairness) and efficiency of policy approaches for the National Electricity Market (for example, consider this report:https://www.accc.gov.au/inquiries-and- consultations/electricity-market-monitoring-inquiry-2018-25/june-2023-report
(iv) (5 marks) Discuss the extent of concentration, economies of scale and scope, and the strategies of incumbent banks in relation to the ACCC retail deposits inquiry: https://www.accc.gov.au/inquiries-and-consultations/retail-deposits-inquiry-2023