Jump to content
Sign in to follow this  

IA (Eco) Aggregate supply of oil

Recommended Posts

I found an article that will make the short term aggregate supply shift backwards because of the weather in Mexico. Some oil rigs will be closed.

I want some points to discuss in my commentary.

What definitions beside SRAS should I define.

Like what are my evaluations will be... short term, vs long term

Stakeholders is easy but any points will be appreciated.

And it will be closed for couple of weeks. So do I have to discuss LRAS

How would you layout your commentary for something like this.

Any help or advice will be appreciated.

Share this post


Link to post
Share on other sites

I don't know if you had showed this article to your teacher but:

1. I personally think this article is not suitable for an economics IA

2. can you distinguish between aggregate supply (macroecon) and supply (microecon)? gosh.

Edited by Desy Glau

Share this post


Link to post
Share on other sites

I don't know if you had showed this article to your teacher but:

1. I personally think this article is not suitable for an economics IA

2. can you distinguish between aggregate supply (macroecon) and supply (microecon)? gosh.

My teacher said the articles doesn't have to be directly economically related..

I only want ideas on what areas I can evaluate. short term long term

Teach me to distinguish :P You don't have to I do know :angel:

Share this post


Link to post
Share on other sites

those two statements clearly imply that you have a REALLY BAD teacher.

in your article there MUST be an economic problem, which I don't really see. and there should be economic theories demonstrated in the article, which again I do not see. and you should be able to include a diagram relevant to the article, which I do not know what kind of diagram you can plot in this commentary.

don't you have any notes or textbook to look up? or can someone please explain to him what the difference is?

Share this post


Link to post
Share on other sites

those two statements clearly imply that you have a REALLY BAD teacher.

in your article there MUST be an economic problem, which I don't really see. and there should be economic theories demonstrated in the article, which again I do not see. and you should be able to include a diagram relevant to the article, which I do not know what kind of diagram you can plot in this commentary.

don't you have any notes or textbook to look up? or can someone please explain to him what the difference is?

come on ! I know the difference :P I was being sarcastic and I thought I said you don't have to then..

I can see aggregate supply issue... some sort of inflation may occur

And I was thinking of including SRAS

And my teacher is not BAD. Please don't judge anyone just like that... He is the best teacher in economics I've ever seen. and will ever be... and I said it doesn't have to be DIRECTLY related :P... please read carefully :)

Edited by MR.AHM

Share this post


Link to post
Share on other sites

gosh, you think i was blind? your article needs to have an economic issue, so it needs to be related to econ! how can an article be indirectly related to econ and have an economic problem?

I'm sick of this. I'll let Jirashimosu or other econ students to deal with you.

Share this post


Link to post
Share on other sites

gosh, you think i was blind? your article needs to have an economic issue, so it needs to be related to econ! how can an article be indirectly related to econ and have an economic problem?

I'm sick of this. I'll let Jirashimosu or other econ students to deal with you.

Finally :yawn:

Well, an example would be for an indirect relation is an improvement in technology or research of an important product. For example improvement in oil recovery. Increase aggregate supply of oil.. And oil is a very important product that will have a lot of effects on other products and markets. You can talk about supply and demand about this. There is a bit of economics in it. You can evaluate in many areas. like reduce inflation in the Long term.

Share this post


Link to post
Share on other sites

Uhm. Well I think you've already mentioned this a bit, but oil is a prime resource. I suppose you could look up what major markets are affected by oil, and how the change in supply would affect them.

I don't really see much to talk about, besides that the supply of oil might tumble down. You could also talk a bit about the unemployment, and how that affects the production.

:/ I don't even know what aspect in which you are focusing. I don't like this article much either, since there is not really a clear topic, because an far as I can see you are either going to scratch the surface of Macroeconomics or International Trade since we are talking about how a global resource might affect other markets everywhere.

That is my opinion, try to get someone else's to confirm.....

Share this post


Link to post
Share on other sites

IMO, this article does not really fit into any economic theory, as it is simply a temporary event caused by the natural disaster and doesn't really drastically affect supply.

And FYI, it doesn't really even deal with Aggregate supply, but just supply in general. Aggregate supply is the total level of supply in the economy, so it doesn't just take one resource or good in general, but it is like the total of the goods supplied. Supply in general is the willingness and ability of producers to produce a quantity of a good or service at a given price in a given time period, which fits more with a specific resource or a good like oil here.

Edited by KiMHarry94
  • Like 1

Share this post


Link to post
Share on other sites

IMO, this article does not really fit into any economic theory, as it is simply a temporary event caused by the natural disaster and doesn't really drastically affect supply.

And FYI, it doesn't really even deal with Aggregate supply, but just supply in general. Aggregate supply is the total level of supply in the economy, so it doesn't just take one resource or good in general, but it is like the total of the goods supplied. Supply in general is the willingness and ability of producers to produce a quantity of a good or service at a given price in a given time period, which fits more with a specific resource or a good like oil here.

:props:

FINALLYYY!!!!!!!!!! someone who knows exactly what I wanted to say and has the willingness to say it!!!

a really good post btw. if only I could I'd give you more reps.

Share this post


Link to post
Share on other sites

As everyone else has said, I don't think it's appropriate either. It's about a hurricane that might devastate these oil firms, but it hasn't actually happened. Everything in the article is just speculative; nothing has really happened yet. Therefore, there are no effects for you to talk about. It talks more about the hurricane than the supply of oil, which gives you very little to talk about. It's not related to SRAS because of the temporary nature of it.

I suggest you find an article where something has actually happened, and some effects of what happened are stated in the article without going into too much detail. You'll have more to talk about that way.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.