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6 pages/β‰ˆ1650 words
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Harvard
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Business & Marketing
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Research Paper
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English (U.S.)
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Topic:

Micro-economics - Switzerland. Business & Marketing Research Paper

Research Paper Instructions:

Switzerland
Assignment Brief Academic Year 2020-21
This assessment counts for 30% of your overall grade for this module
Module - Economics and FinanceAssessment title - Assignment 1 - Research assignment: Micro-economics 
Assignment summary - To research micro economic components of a given country 
Important details 1500 - 1800 wordsWord processed12 pitch font – Arial or Times New RomanDouble spaced and justifiedHarvard systemYour assignment must include page numbers and word count.   You will receive a 10% penalty for this assignment if you go over the word   count by more than 10%. If your assignment is significantly under the word count, you may not have answered the question in full. This will be reflected in your overall mark and feedback given by your tutor.   The word count does not include contents, end of text references or appendices.
Module learning outcomesUpon successful completion of this module, you will be able to: 
Understand the basic principles of microeconomicsInvestigate the economic nature of a country assigned to youApply economic theory to a given country Conduct research and produce a research assignment / reportUse Harvard style referencing Please refer to your Subject Guide for the full list of learning outcomes for this module.
Assignment purpose:The purpose of this assignment is for you to demonstrate your understanding of the ‘economic problem’ and apply micro-economic concepts to a given country.  This country will be assigned or approved by your tutor.  Each student will be given a different country to investigate. Assignment instructions and Guide:
Use the following details to help structure your research project.
One country will be assigned to each student. Alternatively, the tutor will         approve the country of student’s choice, to avoid overlap between different         students. Get into the habit of following the economic news about this country         using different news sources.
As you progress through the course apply the knowledge and economic theory to the         economy/country assigned to you. Use data, tables and graphs, and/or create your         own graphs and tables to help illustrate your findings.
A guide has been provided below to help students to structure and complete this         assignment.   Each of the following four sections will be scored out of 20 marks. A         further 20 marks is available for written skills, presentation, and Harvard referencing. 
Four sections in the assignment
Describe the economic nature of your given country.       You should include details of the following economic terms and make links / apply to the country       you are researching 
The type of economy (mixed, free or command). Contrast this to a different economy.The distinction between needs and wantsFactors of productionRenewable and non-renewable resourcesOpportunity cost – example(s) of choice made by an economic agent, using a PPF diagram
Specialisation and division of labour.       You should include details of the following economic terms and make links / apply to the country        you are researching.
Sectors of the economyThe sector(s) or industries your assigned country specialises inThe advantages and disadvantages of specialisation to the given countryDivision of labour – students to choose any business operating in the country and suggest how division of labour may be used to its advantage and the problems it may bring
Supply and demand in the economy.        Using diagrams students should apply the theory of supply and demand to the assigned        economy
Use an example(s) of a product or service demanded in the economyInvestigate the factors affecting demand for this goods or servicesUse an example(s) of a product or service supplied in the economyInvestigate the factors affecting the supply of this good or service Show understanding, using a diagram, of the impact of a shift of demand or supply on the equilibrium point
Market failure and government intervention         students to research evidence of market failure and government intervention in the assigned        country.  
Market failure e.g. externalities, information gap, or merit and demerit goods
Government intervention – research a method the government has used to intervene in the market e.g. Maximum or minimum pricing, subsidies, indirect taxation, provision of public or merit goods. In the event you are unable to find evidence, the student should suggest how the government MAY deal with market failure in the given country
The advantages and disadvantages of government intervention.
Extra Details about your assignment
You will need to provide a bibliography of at least 3 references in your essay.  
You will need to use Harvard referencing.
Your report needs to show:Proof that you have researched and analysed data relating to your given countryUse of Economic theory which is applied to your given countryGood quality of written English and a logical flow to your essay. 
Take note … 
You must not reference any user-generated sources of information such as Wikipedia or forums. 
You could read these to get a general overview for your own understanding, but they should not be used in your references as they are not always reliable sources of information. 
If you are unsure of what is expected of you, please speak to your tutor.

Research Paper Sample Content Preview:

MICROECONOMICS COMPONENTS OF SWITZERLAND
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Microeconomics Components of Switzerland
This paper focuses on Switzerland's economy and the various dimensions of the economy. Various aspects of the economy that will be addressed include the type of economy and the factors of production, specialisation and division of labour, supply and demand, and market failure, and government intervention.
Economic Nature of Switzerland
Switzerland has a free market economy. It was ranked the fifth freest market in the world in the 2020 index of economic freedom with a score of 82 (Heritage Foundation 2020, p. 428). For over a decade, Switzerland’s economy has been rated as a free economy. In a free-market economy, the activities in the market, such as division of labour and allocation of resources, are not organised by the government since there is little government involvement (Dean et al., 2016). It is based on the power of supply and demand. Unlike the free market economy, a command economy is controlled by the government which organises all the activities of the market (Dean et al., 2016). The Swiss economy has been competitive, especially in meeting the needs and wants of consumers. Needs are things that people must have for survival, such as food and shelter while wants are things that they would like to have but lack due to scarcity, such as cars and fancy houses S(Anderton & Gray 2015, p.1). As businesses strive to meet the needs and wants of consumers, their activities drive economic growth.
Figure 1: Switzerland’s Market Freedom Trend
The Swiss economy is highly competitive and its high economic growth can be attributed to the country’s efficiency in utilising the factors of production. These factors of production are labour, land, capital, and entrepreneurship. Switzerland has one of the highest skilled labour forces in the world (Heritage Foundation 2020, p. 428) and this, coupled with free movement of labour, has facilitated effective utilisation of labour as a factor of production in driving economic growth. Switzerland has properly utilised its natural resources and used its capital to create the necessary infrastructure for economic development. For instance, the country has a well-developed ICT infrastructure and as a result, it has been able to benefit from digitalisation (Organisation for Economic Co-operation and Development (OECD) 2017, p.30). However, when it comes to entrepreneurship, Switzerland is faring poorly when compared to other high-income countries. According to OECD (2017, p.5), the rate of entrepreneurship is low, especially among the younger generation, yet these are supposed to be the most productive age groups contributing to the growth of the economy. Also, Switzerland has regulations that impeded entrepreneurship and when compared to other high-income economies, the belief in entrepreneurship in income-generation is a bit low (OECD 2017, p.34). This is an area that needs improvement.
The use of renewable and non-renewable resources has an impact on a country's economic development. Overdependence on non-renewable resources such as oil and natural gas has been associated with a de...
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