Posted: August 5th, 2015
Write an essay reflecting on a variety of economic concepts/theories that impact an organisation: Rio Tinto. International Mining Company.
- Supply and Demand
- Economic Efficiency and Market Failure
- Profit Maximising and Competitive Market
- Monopoly and ACCC (Australian Consumer Competition Committee)
- Monopolistic Competition
- Macro Economics, an introduction
- Aggregate Demand and Aggregate Supply
- Fiscal Policy
- 2,500 (including 400 words in Executive Summary)
- Executive Summary
- The name and brief background of company.
- The economic concepts and theories that form the basis of the critical economic analysis of past and current performances of the company.
- The key strategic issue the company faces and options to address the issue.
- The conclusion of the analysis.
- Propose recommendation/s to address the key strategic issue and implementation measure.
- 400 words
- (6 marks)
- Background information on company.
- Provide companies name and background details.
- Integrate relevant economic terminology and concepts to set the scene for following analysis.
- Sets the scene for following analysis.
- (3 marks)
- Critical Analysis using economic concepts.
- Uses economic theory (incorporating graphs/data/relevant calculations) to critically analyse past performance of the firm and the market it operated in.
- Uses economic theory (incorporating graphs and relevant calculations)to critically analysecurrent performance of the firm and the current market it operates in.
- Relates to the market the company operates in and incorporates internal and external analysis findings as relevant.
- (12 marks)
- Reflections and key strategic issue.
- Based on the critical analysis, reflect on what was learnt, what was confirmed, and what remains puzzling.
- The key strategic issue the firm faces, now or in the near future, is clearly stated. It relates to, and emerges from, the critical analysis.
- (8 marks)
- Analysis of options to address key strategic issues.
- Clearly proposes2 options (clear & different) that could be implemented to address the key strategic issue using economic theory.
- Evaluate both options outlining the benefits to the company (incorporating graphs/data/relevant calculations).
- Assesses the assumptions made when evaluating both options. Evaluate the impacts of the firm of implementation either option should any assumptions prove to be incorrect.
- (12 marks)
- Conclusion and recommendation/s.