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Eco Commentary Tips required

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So I am working on my first Economics Commentary, problem:

I am helpless at choosing the right article, which usually tends to be much too weak, information wise. I got an article now, which relates to the recent tourism campaign in Australia, paying AUD 5 million for Oprah's entourage, yet number of tourists from UK, USA and Canada decreased by up to 5.1%... Saying it is supposed to be short-term. The author also states that it's no surprise, as services in Aus are underdeveloped and prices in general way too high.

So, are there any tips to choose which part of the sylabus relates to the article and which kind of graph to use.

--> I want to focus on the fault of suggesting that the campaign in short-term and not considering the late natural catastrophies, which have a substantial impact on the Australian economy, not to mention the strong AUD / weak American$...

here's the article: Oprah's visit, 'wasting' $5 mio

I don't want you to write the article for me, for heavens sake, I just need help to find the sylabus part and right graphs.

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Quick tip: when choosing an article, i always try to find one that is brief and simple and isnt very long so it leaves you room to define and explain it.. here are some notes on the general eco portfolio process:

INTERNAL ASSESSMENT: PORTFOLIO OF COMMENTARIES

REQUIREMENTS

Students will produce a portfolio of four commentaries of 650 to 750 words each, based on published extracts from news media. The extracts may be from a newspaper, a journal or the World Wide Web, but must not be from television or radio broadcasts.

Each commentary must:

• explain the linkages between the extract and an economic theory taken from the section of the syllabus on which the commentary is based

• demonstrate economic insights into the implications of the extract (that is, it should provide evidence of the student’s ability to evaluate current events from the point of view of an economist).

FOCUS

Three out of the four commentaries must have as their main focus a different section of the syllabus, although it is acceptable for commentaries to make reference to other sections. (eg. microeconomics focus with macroeconomic references). The fourth commentary can focus either on a single section of the syllabus or can focus on two or more sections.

SELECTION OF EXTRACTS (ARTICLES)

The extracts on which each commentary is based must be drawn from four different sources. Extracts must, as far as possible, be contemporaneous with the course. Students should be searching for material relating to current events. This may include material published up to six months before the start of the course.

GUIDANCE

Students will be able to submit a draft of their first commentary to Mr. Messere. Feedback will be provided so that revisions and improvements can be made by the student. Please note that the entire portfolio is graded against the scoring rubric in an holistic manner. Individual commentaries are not graded.

Organization and Presentation

• Provide a cover page including all relevant information for each commentary as indicated below: (see sample of this cover page and exemplars within study guide)

 Title of extract

 Source of extract

 Date of extract

 Word count of the commentary

 Date the commentary was written

 Section(s) of the syllabus (Section 2: Microeconomics / Section 3: Macroeconomics) to which the commentary relates

• Summarize the main idea and its relationship to the economic principles to be applied in the commentary (do not devote more than 2 to 3 sentences to this)

• do not use news editorials or columns as one of your extracts

• Make sure your source is from a reputable news media outlet (The Globe and Mail, The Toronto Star, The Economist etc..) – the article can relate to Canadian or international economic issues

• Diagrams should be clearly and neatly labeled and specific data (eg. numbers) should be incorporated in to the diagram

• Stay within the word count limit (650-750 words) for each commentary

• Highlight or underline the relevant parts of the article being considered (consider sentences/paragraphs that relate the economic principles and ideas being considered in your commentary) & consider short articles

• include a table of contents with your last commentary submission for the portfolio

• Use a duo-tang folder for your final submission (do not enclose each commentary in plastic jackets or sleeves)

• Save a copy (electronic or print) of each commentary and article for editing and moderation purposes

Use of Economic Terminology

• Use consistent and precise economic terms when discussing relevant economic principles and concepts

• Provide correct definitions of three to four relevant economic terms being focused upon within your commentary

Application and Analysis of Economic Concepts and Theories

• Properly identify and apply relevant economic concepts/theories

• Analyze how the relevant economic concept/theory relates to the article; provide economic insights based on your understanding of economics

Evaluation

• Evaluate the economic concepts or theories in the context of real world examples (in other words – can the student judge an economic theory and an application to a given situation with an awareness that the theory may not provide an accurate description?)

o after defining relevant terms and applying the economic concepts, take the next step when writing your commentary … “economic theory would suggest that ‘such and such’ would happen, but in reality it has not …” - determine and explain why not (eg. perfect competition, comparative advantage theory all based on assumptions that often don’t hold up in real world economy)

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Also remember that you are doing 4 portofolios

one on macroeconomic

one on microeconomics

one on international economics

one on either macroeconomics, microeconomics and international economics

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first off, is that even a news article? or is that simply an economic blog post?

second, it's too long.

It is a news article. Sydney Morning Herald is a renowned newspaper.

Our teacher told us a longer article is fine as long as we highlight the relevant info we will use. Hence my focus on the 5 mio, the % of decline in tourists.

Also remember that you are doing 4 portofolios

one on macroeconomic

one on microeconomics

one on international economics

one on either macroeconomics, microeconomics and international economics

Thanks, that's really good to know :D

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okay, but is it a news article? I think it's a blog post.

firstly because of "You are here: Home > Travel > Blog"

then because of www.smh.com.au/travel/blogs/travellers-check/why-oprahs-visit-didnt-work-20110718-1hkt6.html

and lastly because it's written in first person.

it has happened in my school before. a student chose an opinion instead of a news article because it's in a news website, but it's in the opinion section and he didn't realise that until my teacher pointed that out.

oh btw, Julia, the commentaries don't have to be in micro, macro, int'l, either one. it can also be in development econ. the rule is that three commentaries must concentrate on different sections of the syllabus; the other one can be on the same section, a different section, or combined.

back to Akayuki + Lucifel, I suggest that you choose the syllabus section first. say you want to write it on microecon, then search on google news about price increase/decrease, demand and supply, subsidy and tax, externalities. if you want to write on macroecon, then search on inflation, unemployment, etc.....

I suggest taking a different article. what you suggested, which I doubt is a news article, isn't a very good article. anyway from your summary it looks like it's focusing on different sections of the syllabus, so I don't know if it would be a wise decision since it looks like it's your first commentary.

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Dude the easiest way to find relevant articles is by first deciding which economic concept you want to concentrate on. When I did my first commentary, I knew that I wanted to do it on externalities because that was something I understood and the graphs were super straightforward. I looked up externalities in the textbook, negative externalities of production had a harmful effect on an uninvolved third party when produced and the general examples given were of pollution and cigarettes.

I then googled recent articles on changes in cigarette prices due to taxes/subsidies or some such, or even industries causing pollution like some factory in poisoning a random lake or something else really specific about externalities. I then just wrote the commentary easily because the article was chosen based on what I wanted to write, rather than basing what I wanted to write around the article in question. I got to play on my strengths in that part of the syllabus.

Just be a little smart about it. Finding an article isn't the most important part, figuring out what you want to write about is the most important part. When you start off with that mindset, having a clear idea of what you're looking for rather than scrambling aimlessly for something that looks 'economic,' you are planning a much better commentary and it will turn out better than any random article you choose otherwise.

Arrowhead.

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okay, yes it is a good article. you can plot the AD/AS diagram. any specific question?

btw convert it to PDF first. if you don't have the necessary software, google for some HTML to PDF website and get that article to be a PDF for your future reference since you're only allowed to see it thrice.

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okay, yes it is a good article. you can plot the AD/AS diagram. any specific question?

btw convert it to PDF first. if you don't have the necessary software, google for some HTML to PDF website and get that article to be a PDF for your future reference since you're only allowed to see it thrice.

coolbeans :D

I don't get what you mean by only being allowed to see it 3x, but I saved the article anyway.

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Hey, I experienced the same sort of issues that you are experiencing when it comes to your first encounter with a commentary. What Desy Glau said was wrong, because there is no specific "limit" to a length of the article you are analyzing, however, use your logic to separate articles from essays. However, for an essay of this length, highlight or make it clear to the grader what parts of the text you will be analyzing. The article that you choose should not be analyzed economically already, however, should include sufficient information for YOU to be able to do this. For example, I wrote my first commentary (Micro section)on the decrease of TV prices due to a surplus of product. The article had stated the facts, and thus what your job is to do is simply explain using economic theories, diagrams and definitions to explain WHY this happens. For microeconomics, it's relatively difficult due to the fact that you are inexperienced with economics in general so explaining something from an economical point of view without much knowledge in the area, is difficult. THus to sum up

Article should include

* economic ideas shown, but NOT explained

*Sufficient amount of information so that you are able to comment and expand on what the writer has written, but from an economic point of view

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Just saw that this thread had some new comments after I left it to die... Update: I did write a new commentary - on (in)elasticity of house prices in the UK, with the result that my teacher kept loosing it for 6 months and I kinda slacked off and now I ****ed up and am upstream of a specific fecal river without any means of propulsion.

Got half of my second commentary (Macro - Unemployment) and I got an article on Exchange Rates (International). Any suggestions for another one?

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Just saw that this thread had some new comments after I left it to die... Update: I did write a new commentary - on (in)elasticity of house prices in the UK, with the result that my teacher kept loosing it for 6 months and I kinda slacked off and now I ****ed up and am upstream of a specific fecal river without any means of propulsion.

Got half of my second commentary (Macro - Unemployment) and I got an article on Exchange Rates (International). Any suggestions for another one?

Do a commentary on trade barriers for international econ. You can usually find good articles for those and they aren't too hard to write.

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Also, make sure you use economic models relating to the article:P

I may be extremely lazy but I'm not a complete idiot >.<

I looked up articles to topics I actually know how to work with, a bigger problem is using the right graphs, e.g. article is about structural unemployment and how the government tries to reduce the unemployment rate (funding training from tax money). first i tried to make a diagram for jobs available, unemployed, and subsidy to firms :S

after 3 hours of searching I realized that it's a demand-side expansionary fiscal policy graph I need...

inb4 coolstorybro

Edited by Akayuki + Lucifel

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Do a commentary on trade barriers for international econ. You can usually find good articles for those and they aren't too hard to write.

As in protectionism?

Yes, protectionism. Tariffs and quotas usually are good choices because there's lots to discuss and evaluate, just be careful to remember all the labels. Copy the diagram right out of your textbook/notes and make sure you don't forget anything because there are a ton of labels >.<

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