Why are gas prices set to rise for New South Wales households Custom Essay

This is the link for the reading: http://www.smh.com.au/business/mining-and-resources/nsw-households-to-pay-more-for-gas-20140423-373co.html

TOPIC 1: Why are gas prices set to rise for New South Wales households?
In this essay, you should identify and explain the economic factors behind the increase in the price of natural gas being experienced by households in New South Wales.
For some background information, read the article “NSW households to pay more for gas”. A link to this article can be found in the eReadings for the course: http://opac.library.usyd.edu.au/search/r?

SEARCH=ECON1001
In particular, in your essay you should address the following questions:
(1) Background questions to answer: Where does NSW get most of its natural gas supplies from up to now? What is happening to total domestic gas production in Australia?

(2) Describe the structural change that is taking place in the Australian gas market.
(3) Describe what is happening to (and expected to happen to) gas prices for households and businesses in NSW. Explain why this is happening.
(4) What are potential ways out of this problem? What type of policy could address this issue, and why?
IMPORTANT: You need to use the economic tools learned in the course to illustrate and support your claims. A summary of ideas from a few articles is not sufficient. Clearly state all your assumptions and use

well-labelled diagrams to illustrate your discussion. Discussions not using economic model/theory will earn low marks. Figures without a guiding explanation in the body of the essay are not helpful.
You are expected to undertake some independent research for this paper. A useful article may be one like “Getting gas right – Australia’s energy challenge” (by Grattan Institute) and “Gas lobby working on a

scam on NSW citizens” (by R. Gittins).
NOTE: retail gas prices in NSW are regulated by IPART (the Independent Pricing and Regulatory Tribunal of New South Wales). This is not the focus of this essay, so please ignore this aspect and focus on

the market price (or wholesale prices) arising in the gas market. In turn, regulated retail prices are obviously affected by what is happening in the gas market.

Introduction
The assessment task for this component of ECON1001 requires you to write a short term paper. You must answer the question set out below (for either topic 1 or 2). In answering the question, you should:
use appropriate economic concepts and techniques to address the issues that you are asked about. you need to provide a clear, logical and succinct argument. you are expected to do some independent

research. you are required to fully reference the piece of writing that you submit. This requires that where an idea has been drawn from a scholarly source, you identify that source. Referencing should be

complete, comprehensive and consistent. That is, any reference that you list should allow the reader to go to that source and confirm that the arguments espoused in the writing are in fact derived from that

source. Harvard referencing is recommended. A Harvard Referencing Guide is provided on Blackboard. NOTE: there is no need to refer to ECON1001 lecture notes. The material covered in lecture notes is

general economics knowledge. you need to use appropriate language and submit a professional piece of work. Avoid slang or colloquial terms; check spelling and grammar; use appropriate language given who

you are being asked to write for. If your English language knowledge is limited, it is a good idea to have an English native speaker correct spelling and grammar errors. IS TO BE NO MORE THAN 750

WORDS IN LENGTH. Any essay exceeding the word limit will be penalised. Markers will have the right to stop marking after 750 words. The word count must be stated at the beginning of the essay. You

need to use a font size of 11 or 12, 1.5 line spacing and normal margins (1 inch at top, bottom, left and right). Keep in mind that a marker faced with a nice-looking and well-presented text starts off marking

with a positive attitude towards the essay (and vice versa).
Structure
The structure should be: Executive Summary (not exceeding 150 words) on a separate front page; Introduction; Body (Analysis); Conclusion; Reference list and a clear listing of data or other sources and

definitions at the end. (N.B. Reference list and executive summary are not included in the 750 word limit; but everything else is.) Footnotes should be avoided. If any figures and/or tables are used, they should

be placed in the body of the essay, and be numbered sequentially. Any illustrations used must be very clear and easy to understand.
Example Essay:
An example of a good essay submitted by a student in the past year will be posted on BB to provide more information on what is expected.
Due date: Friday May 30, 11.59 AM
Aim of the essay
The essay aims to help you develop your research, analytical, and professional writing skills. Good writing skills are one of the most important graduate attributes sought after by leading employers. You will

need to become adept at finding relevant resources. You are expected to apply or make use of economic concepts/theories/models that you have learned in class to the topic you are writing the essay on, and

write an essay in a succinct and professional manner as would professional economists, columnists, or advisors.
Submission process: Submission is done twice.
Students first have to complete the online Academic Honesty/Plagiarism declaration on BB (Assignment folder). Once that is submitted, the assignment dropbox for the ECON1001 term paper will appear in

that same Assignments folder.
1. Students will be required to submit an electronic version onto Blackboard (see Assignment folder). Full details about are announced on Blackboard.
2. Students will need to submit a hard copy of their assessment to the Essay collection boxes at the Foyer (2nd floor) entrance to the Merewether Building by the due time and date. Submitted work needs to

have the usual “Individual Assessment Cover Sheet” stapled to it (available on BB). This includes a signed statement of compliance with the University Policy on Academic Dishonesty and Plagiarism.
PENALTIES FOR LATE SUBMISSION WILL APPLY
NO SIMPLE EXTENSIONS ARE ALLOWED FOR THIS ESSAY. STUDENTS NEED TO APPLY FOR SPECIAL CONSIDERATION IF THEY MISS THE SUBMISSION DEADLINE FOR

REASONS OF ILLNESS OR MISADVENTURE (with supporting formal evidence). See Unit of Study outline for more info on Special Consideration.