Help needed please :]

[myk]

Hey guys! I have recently got an Economics assignment on the circular flow model. It's just basically about how businesses and households relate to eachother - it also includes businesses, governments and international imports/exports etc. I have decided to look at the circular flow in relation to WhiteWater World/Citywalk expansion and how this is affecting the Gold Coasts main export - tourism. To do this I will need any data/information I can get: tables, graphs, annual reports, press releases etc. so if you have come across ANYTHING good that relates to economics/MLT in any way shape or form, could I ask that you please post it here. Thanks so much if you can help!

[Gazza]

Haha, you are talking to one of the top 6 students for VCE Economics right here. But If you can post up the specific assignment question/s I might better be able to help and see if what you are doing is on the right track For starters all your MLT stuff is here http://www.macquarie.com.au/au/property/mle/index.html Im a bit unsure as to how WWW/CW relates in to the circular flow model though, from memory It was more of a Macroeconomic thing, I don't think It can be confined to a single company/venture .I mean i guess you could say people provide labor to WWW (flow one), and in return the park pays out wages (flow two), employees then would tend to spend a lot of their income in local businesses (flow three), and in return these employees receive goods/services (flow four). These employees may decide to save money too, and these savings may end up being lent out too MLT to fund further expansions, as well as other projects in the GC region. In terms of the government sector i guess you could say taxes/rates collected from employees/the company would wind up being spent on infrastructure/tourist facilities in the GC in the GC. In terms of the overseas sector I guess there are plenty of injections from overseas visitors, but leakages could be things such as WWW purchasing equipment from overseas (eg their slides came from Canada). But I mean I've done my best to try and fit what you are saying, but it still feels weak, are you really approaching this assignment the right way, or are you finding an excuse to write about theme parks?

[myk]

Hahahaa no, suprisingly. But yes what you just said was basically what I had in mind. :S yee. Task: Choose a current event. Demonstrate the impacts of this event on each sector of the economy. It's not a major assignment but yeah, we have to do an article or something and give evidence. I thought the opening of WWW/Dreamworld expansions etc would be a good topic to do. It's Gr 11 Eco, it's not really as complex as you're making it out to be :] lol. But thanks for your help!

[Gazza]

I'd just take the easy option and do the drought, tons of stuff in the media and the government will have written lots of stuff on it that you can use (Bureau of Statistics is your friend if you want figures to prove the impact), Its impacted everything, there is the obvious effects in the four flows, but it has had an impact in the other sectors too ($10bil proposed spending from the federal govt / microeconomic reforms associated with it anyone?) A new water park has done nothing much to the economy (Im guessing the assignment is implying the whole economy) and you wont be able to write up a very strong assignment if you chose to follow that route. You are also going to have a fair bit of trouble finding evidence on how WWW.CW has impacted on the economy other than a few cursory bits of information from the company such as "The park has created 180 jobs" etc. Also, even though it is aimed at year 12 vics, www.mrwood.com.au is an excellent site to do with economics, check out the article archives as Bryan always writes stuff on current events (from memory there are a few articles on the drought anyway...)

Edited February 22, 2007 by Gazza

[Gold Coaster]

In 1930, the Republican-controlled House of Representatives, in an effort to alleviate the effects of the... Anyone? Anyone?... the Great Depression, passed the... Anyone? Anyone? The tariff bill? The Hawley-Smoot Tariff Act? Which, anyone? Raised or lowered?... raised tariffs, in an effort to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression. Today we have a similar debate over this. Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. "Voodoo" economics.

... and that's the only thing I can contribute to this topic not having done Economics but being a Ferris Bueller fan. Edited February 22, 2007 by Tony Teulan

[myk]

Well I did the model, really now all I'm looking for is research. I have most press releases and the annual report off the website - but if theres anything you've seen -> newspaper articles etc. LET ME KNOW :]

[Gazza]

Well, sorry but I strongly doubt you will find anything at all about the impact of the water park on the Australian economy. Does the assignment ask you to look at the impact on a specific industry (Tourism) or does it ask you to look at the impact on each sector of the economy (Household, Business, Financial, Overseas and Government) Consider this while you write.

[Gazza]

How did this this end up going?

[myk]

Fairly well actually. I found a broad spectrum of information. I guess I will see for sure when the marks come back.

Edited March 13, 2007 by myk