Economic Analysis of a Construction-Related Firm in Australia Assignment
- Subject Code :
BUIL1026
- University :
University of Sydney Exam Question Bank is not sponsored or endorsed by this college or university.
- Country :
Australia
Frequently asked questions for Assessment 2
- Does the selected firm have to be a construction firm?
No. It can be any type of firm that relates to the construction industry. Your firm can be a construction firm (commercial or residential), or you can also look at firms that provides building materials and services to the construction industry. However, it should be a firm operating in Australia.
- My selected firm provides a series of different products/services. Do I need to explain all the products/services?
To avoid confusion, you need to select ONE of the product/services for the Case study. For example, if the selected firm is involved in building both commercial and residential, be clear which one will your case study will be based on.
- Do I need to have real time data to support my answers?
No. Students are expected to justify their answers and explanations mainly based on the Economic concepts and models covered in the course (BUIL1026).
- I have stated the change in the market that I plan to discuss for Part B under the main objectives section of the paper in Part A of the Can I change my mind and discuss a different change instead?
Yes, you can. But please remember to edit the main objectives section in Part A of the paper when you submit Part B.
- Do I need to research and apply any other Economic models not covered in this course? No (except for kinked demand curve for Oligopoly). All answers should be clearly linked to the Economic concepts and models covered in BUIL 1026.
- Do I need to support my explanation of profit maximising condition using numbers?
Not necessarily. Some students find it easier to explain using numbers, but some prefer not. Marks will be allocated based on how well students have explained it and managed to convince the marker that you have clearly understood the economic concept.
- I have no idea where I can gather information on XYZ Corporation's profit maximising condition, where might this be hidden.
Please read chapter 7 of the textbook. It will explain what the profit maximising condition is. You can then use this concept to apply to the economic model that your firm operates in.
- What happens if I made an incorrect conclusion on the market structure that my selected firm is supposed to operate in? For example, it is supposed to be an oligopoly, but I concluded that it is monopolistically competitive. Does this mean that I will fail the Case study?
No. You will only lose marks on the section for identifying and justifying the market structure of your selected firm. The rest of your answer (including Part B) will then be marked based on the market structure that you have used.
- Is it ok to have more than 1 microeconomic change for Part B?
Describing and explanation of just 1 change is sufficient as there is a word limit and also you do not want to overcomplicate the discussion.
- Do I need to amend Part A with the feedback I get when I submit Part B?
No. It is not necessary to make amendments to Part A when you submit Part B (but you can make changes if you wish to do so). Marks for Part A will not change. Marks for Part B will be mainly for the Discussion and conclusion, Executive summary and for formatting and presentation.
