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ECO100 Economics For Business

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Task description:

Essay 1: 

Davidson and De Silva (2018) have written a recent article entitled as “Did Recent Tobacco Reform change the Cigarette market” (pp. 55-74). 

Based on the above you are required to critically answer, not least, the following questions:
1. Compare and contrast the rate of cigarette smoking in Australia with your home country and the world average rate.
2. Draw and label fully a supply and demand curve diagram to explain how an excise tax on cigarettes affects:
3. Explain the idea of cost versus benefit when making decisions. Use this idea to analyse as to why: the government wishes to reduce the rate of smoking and a smoker as they age should quit smoking.
4. Describe and evaluate the various policies over the years (other than a tax on smoking) that the Australian and State governments have enacted in order to reduce smoking.
5. Finally, in this essay you must answer the implications of the topic by answering the following questions based on the above article:
What does this article argue about the effectiveness of plain packaging of cigarettes in reducing smoking rates? And, (ii) what ramifications and implications are drawn by this research? 

Essay 2: 

1. What are the causes of the following types of unemployment: 
2. Using information from the captioned article as your guide, use Supply and Demand curves and analyse:
3. Describe and evaluate the factors that are driving the fact that 15-24-year-old work part-time or casual rather than full time. 
4. Describe the rate of youth unemployment and underemployment in Australia. Provide reasons for this rate. 
5. Compare and contrast rates of youth unemployment in Australia with your home country and the world average. Analyse the causal factors behind these differences or similarities. 
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