澳大利亞雞蛋業(yè)是一個強大的，并且有彈性的行業(yè)組成的，專用和專業(yè)農(nóng)民生產(chǎn)高品質(zhì)的天然蛋白質(zhì)主食產(chǎn)品，在澳大利亞和海外享受一些高度多樣化的市場。在澳大利亞有三個主要生產(chǎn)系統(tǒng)所使用的雞蛋生產(chǎn)商，

完全競爭：一個完全競爭的市場是一個假想的市場，，競爭處于盡可能大的水平。新古典經(jīng)濟(jì)學(xué)家認(rèn)為，完全競爭為消費者和社會產(chǎn)生最好的結(jié)果，。

Task 1 Firm Perspective & Market Structure 任務(wù)1 公司視角與市場結(jié)構(gòu)

Industry Overview 行業(yè)概述

The Australian egg industry is a robust and resilient industry made up of dedicated and specialised farmers producing a high quality natural protein staple product for enjoyment by a number of highly varied markets both in Australia and overseas. There are three main production systems used by egg producers in Australia and these are:

Perfect Competition: A perfectly competitive market is a hypothetical market where competition is at its greatest possible level. Neo-classical economists argued that perfect competition would produce the best possible outcomes for consumers, and society.

Key Characteristics: Perfectly competitive markets exhibit the following characteristics;

There is perfect knowledge, with no information failure or time lags. Knowledge is freely available to all participants, which means that risk-taking is minimal and the role of the entrepreneur is limited.
Given that producers and consumers have perfect knowledge, it is assumed that they make rational decisions to maximise their self-interest – consumers look to maximise their utility, and producers look to maximise their profits.
There are no barriers to entry into or exit out of the market.
Firms produce homogeneous, identical, units of output that are not branded.
Each unit of input, such as units of labour, are also homogeneous.
No single firm can influence the market price, or market conditions. The single firm is said to be a price taker, taking its price from the whole industry.
There are a very large numbers of firms in the market.
There is no need for government regulation, except to make markets more competitive.
There are assumed to be no externalities, which is no external costs or benefits.
Firms can only make normal profits in the long run, but they can make abnormal profits in short run.

Task 2 Long run Equilibrium in Perfect Competition 任務(wù)2 完全競爭中的長期均衡

In the long run firms are attracted into the industry if the incumbent firms are making supernormal profits. This is because there are no barriers to entry and because there is perfect knowledge. The effect of this entry into the industry is to shift the industry supply curve to the right, which drives down price until the point where all super-normal profits are exhausted. If firms are making losses, they will leave the market as there are no exit barriers, and this will shift the industry supply to the left, which raises price and enables those left in the market to derive normal profits.

Price Costs & Revenue

The super-normal profit derived by the firm in the short run acts as an incentive for new firms to enter the market, which increases industry supply and market price falls for all firms until only normal profit is made.

Task 3 Australia’s Demand & Supply of Eggs

The main market for eggs produced in Australia is the domestic shell egg market. This market accounts for around 80–85 per cent of all eggs consumed. Most shell eggs are sold through retail chains. The remaining eggs are processed and sold either domestically, primarily to the food service sector, or exported. Egg products include egg pulp, liquid white, liquid yolk, dried egg yolk, dried white, boiled eggs, peeled eggs, omelette mix and scrambled egg mix.

Generally the egg industry seeks to meet domestic demand with its management of chick placements. As there is a significant lead time before chicks produce eggs, producers have limited ability to respond to short term changes in market conditions. As a result, the industry faces a cyclic pattern of over-supply and under-supply.

Change in Poultry Prices: 家禽價格的變化：

Part 2

Task 1 Macroeconomic Perspective 任務(wù)1 宏觀經(jīng)濟(jì)視角

Like Venice in the lagoon, Italy's economy has been slowly sinking for a long time.Italy's debt ratio is the second worst in the euro zone, behind only Greece. The country's national debt weighs in at roughly 120% the size of its gross domestic product, or about $2.6 trillion.Italy has shouldered debt-to-GDP ratios well above 100% for about 20 years now, thanks largely to a government spending binge way back in the 1980s. In 1999, when Italy officially adopted the euro, its debt-to-GDP ratio was 126%.Since 2000, most measures of good government have been on a downward slope. Gross breaks out the following chart:

Task 2


Corruption and weak rule of law are poisonous for business. Beyond that, they also allow the country's robust underground economy to flourish.腐敗和弱法治對商業(yè)有害。除此之外，它們還使中國強大的地下經(jīng)濟(jì)得以蓬勃發(fā)展.。

According to the graph the unemployment rate in Italy in January 2013 was 11.3% and in July 2013 it bounced up to 12.1%. The labour force participation rate in Italy in January 2013 was 2.005% and in July 2013 was 1.5%.

Task 3 Fiscal Policy: 任務(wù)3 財政政策：

Fiscal Policy is carried out by the government and involves changing:

Level of government spending
Levels of taxation
To increase demand and economic growth, the government will cut tax and increase spending (leading to a higher budget deficit)
To reduce demand and reduce inflation, the government can increase tax rates and cut spending (leading to a smaller budget deficit)
In a recession, the government may decide to increase borrowing and spend more on infrastructure spending. The idea is that this increase in government spending creates an injection of money into the economy and helps to create jobs. There may also be a multiplier effect, where the initial injection into the economy causes a further round of higher spending. This increase in aggregate demand can help the economy to get out of recession.

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