Tutor Quora

ECF6105 Economic Analysis For Business

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

ECF6105 Economic Analysis For Business

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

ECF6105 Economic Analysis For Business

0 Download6 Pages / 1,387 Words

Course Code: ECF6105
University: Edith Cowan University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia


Ensure you write academically using precise vocabulary, spelling and grammar – see Learning Advisers at the Academic Skills Centre (see Staff link on the Blackboard site) if you need help with academic and language skills.
Choose ONE of the following three assignment topics.

Tony Abbott launches another attack on ‘ugly’, ‘noisy’ wind turbines (Glenday, 2015).
Vulgar graffiti sprayed on road and footpath at South Street (Leeming, 2017).
Cruise ships released over one billion gallons of sewage into the ocean in 2014 (Spross, 2014).
Discuss your chosen topic using externality theory.
Discuss a government solution – a tax or a subsidy or a regulation/law.
Use correctly labelled supply and demand diagrams in your answer.

You can use the Practice Turnitin site to check your similarity score. If it is high, then check your intext referencing and paraphrasing. You may need help from the Learning Advisers so drop in to one of their Assignment sessions for advice.
Included the electronic Cover Sheet from the Assignment link on the Bb site for ECF 6105?
Checked my word count? 1,000 (minimum) to 1,200 words (maximum)
Checked my formatting? Line spacing (double) and font size (12)
Provided informative headings?
Answered all parts of the question?
Ensured my referencing is compliant with APA style?
Have I included a textbook?
Have a referenced at least four academic references (journal articles)?
Checked that all of my in-text references have full details in my Reference list?
Checked that all of the references in my Reference list are cited in text?
Checked my spelling and grammar?
Checked the marking criteria for how I can achieve the best marks?
Used MS Word (not pdf)?
Checked that my similarity score in the Practice Turnitin site is below 30?
Added quotation marks and in text referencing, and used more paraphrasing and
less quotations to reduce my similarity score?


“Market”, in economics, refers to a forum of interaction between the demand and the supply side forces for different goods and services, where, the mutual interaction and agreements between them (the buyers and the sellers) lead to decisions regarding the quantities of commodities or services to be produced and the price levels for the same (Frank & Cartwright, 2013).
However, often in the free market situation, the allocations of goods and services are not efficient and the benefits are either accrued more by the buyers or the sellers. This, in terms of economics, is known as market failure. There are various types of market failures, which occur in real world scenario, of which one of the most common form is that of externalities (Iossa & Martimort, 2015).
Keeping this into consideration, the concerned essay tries to analyse the effects of vulgar graffiti which are sprayed on the roads and the footpaths of the South Street, with the help of the conceptual framework of externality in economics. The essay also tries to discuss the possible solution and policies which can be implemented by the government of the concerned region, in order to mitigate the problem of externality arising out of the said phenomenon.
Externality: Theoretical Framework
The term “externality”, in economics, refers to the impacts or effects which the production or consumption of certain commodities or services, have on third parties, who are not directly related to or involved in the production or the consumption of the same (Hall & Lieberman, 2012). When the production or consumption activities for certain commodities or services, benefits or increases the welfare of a third party who is not associated directly with the transaction, then the same is said to be positive externality (Barr, 2012).
In case of positive externality in production, the social marginal cost of production is lower than the private marginal cost of one additional unit of production of the commodity, which can be seen as follows:
Figure 1: Positive externality in production
(Source: As created by the Author)
Thus, it can be seen that in case of positive externality in production, the socially optimal level of output is higher than the level of output produced in the free market situation. The converse happens in case of negative externality in production, where the marginal cost borne by the society for one additional unit of production of a commodity is higher than the private marginal cost. In this case, the socially efficient amount of production is less than the free market level (Pigou, 2017).
In case of positive externality in the consumption of a commodity or service, again, the social marginal benefit from consumption of one unit of the same is higher than the private marginal benefit, the effects being as follows:
Figure 2: Positive externality in consumption
(Source: As created by the author)
The converse happens in case of negative externality in consumption, where the social marginal benefit of an additional unit of consumption is less than the private marginal benefit, thereby leading to a situation where the free market level of commodities or services is higher than the socially optimal level of the same (Riley, 2012).
Externality in case of vulgar graffiti on the South Street
In the light of the above discussion, the phenomenon of vulgar graffiti sprayed on the roads and footpaths of the South Street can be explained. Graffiti, in general, being an art form, can have both positive or negative externalities, depending upon the perceptions of the people who see those graffities while passing by the area or on whose property these graffities are sprayed (Mahanty, 2014).
However, in the concerned case, the graffiti which are being sprayed on the roads and footpaths of the South Street are vulgar and thus, the same are expected to be causing disturbance to both the viewers as well as the municipalities of the concerned region, who has to shell out considerable amount of money to clean-up these vulgar graffiti. Thus, the societal cost of spraying of vulgar graffiti on the roads and footpaths of the South Street region, is much higher than the private costs of the colours which are bought to paint the same (Feiwel, 2016). Some of the social costs like those of the costs of cleaning up and re-painting the roads are numerically measurable, while the costs like those of irritation and disturbance of the viewers and the harassment of the municipality of the region cannot be numerically measured:
Figure 3: Negative externality of vulgar graffiti
(Source: As created by the author)
Thus, the socially optimal level, in this case, is lower than the free market level which is existing in the current situation.
Policy solutions for the government of the South Street
The negative externality arising out of vulgar graffiti can be seen to be monetarily affecting the municipality of the region, as they need to pay for the clean up of the vulgar graffiti in order to reduce the disturbances and harassments caused by the same to the people who are viewing those graffiti. To reduce this negative externality, the government of the region can impose strict fines on those who have been creating the graffiti and if needed can also impose non-monetary punishments like that of jailing the ones who have been creating these vulgar graffities. The money earned from the fines and penalties imposed on them can be used by the municipalities to clean up the roads and footpaths and can also be used to employ security personnel who can be bestowed with the responsibility of keeping a vigilant eye on such activities and arresting the ones involved in the creation of vulgar graffities (Friedman, 2017). The effects of imposition of fines and monetary penalties can be seen as follows:
Figure 4: Effects of imposition of penalty or fine by the government
(Source: As created by the author)
Thus, the imposition of fine by the government, can help in reducing the number of vulgar graffities on the roads and footpaths of the South Street due to the increase in the cost of creating such graffities on part of those who are doing it. The fear of being jailed can also reduce the number of vulgar graffities (Davies, 2012).
From the above discussion, it is evident that in the contemporary period, one of the most common forms of market failure is that of externality, which can be positive or negative. In the concerned case, the phenomenon of vulgar street graffities can be seen to be causing negative externalities to the society and the municipality of the concerned area, who has been bearing the costs of the same. This can be reduced by the government of the concerned region, by imposing strict monetary penalties and fines as well as non-monetary punishments, which on one hand will help to reduce the number of vulgar graffities and on the other hand will help the government to use the money collected from penalties and fines to clean up the streets and to employ security personnel for reduction of the number of such incidents in the future.
Barr, N. (2012). Economics of the welfare state. Oxford University Press. Retrieved from: https://s3.amazonaws.com/academia.edu.documents/31131723/CH001098321861B59CF9BC125714F003A71CA.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3A&Expires=1537947225&Signature=rdnBOxhQ9JeGzMroPVfVlleL8bE%3D&response-content-disposition=inline%3B%20filename%3DThe_economics_of_the_welfare_state.pdf
Davies, J. (2012). Art Crimes: Theoretical Perspectives on Copyright Protection for Illegally-Created Graffiti Art. Me. L. Rev., 65, 27. Retrieved from: https://digitalcommons.mainelaw.maine.edu/cgi/viewcontent.cgi?article=1135&context=mlr
Feiwel, G. R. (Ed.). (2016). Arrow and the ascent of modern economic theory. Springer. Retrieved from: https://pdfs.semanticscholar.org/5fdd/2e292a3130755156fd06749590fab77914b1.pdf
Frank, R., & Cartwright, E. (2013). Microeconomics and behaviour. McGraw Hill.
Friedman, L. S. (2017). The microeconomics of public policy analysis. Princeton University Press.
Hall, R. E., & Lieberman, M. (2012). Microeconomics: Principles and applications. Cengage Learning.
Iossa, E., & Martimort, D. (2015). The simple microeconomics of public?private partnerships. Journal of Public Economic Theory, 17(1), 4-48. Retrieved from: https://bura.brunel.ac.uk/bitstream/2438/3459/1/0903.pdf
Mahanty, A. K. (2014). Intermediate microeconomics with applications. Academic Press.
Pigou, A. (2017). The economics of welfare. Routledge.
Riley, J. G. (2012). Essential microeconomics. Cambridge University Press. Retrieved from: https://www.cartestraina.info/uploads/9780521827478_frontmatter.pdf

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.


Yes, alert me for offers and important updates


Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 6 pages


*The content must not be available online or in our existing Database to qualify as

Cite This Work
To export a reference to this article please select a referencing stye below:


My Assignment Help. (2021). Economic Analysis For Business. Retrieved from https://myassignmenthelp.com/free-samples/ecf6105-economic-analysis-for-business/microeconomics-of-public-policy-analysis.html.

“Economic Analysis For Business.” My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/ecf6105-economic-analysis-for-business/microeconomics-of-public-policy-analysis.html.

My Assignment Help (2021) Economic Analysis For Business [Online]. Available from: https://myassignmenthelp.com/free-samples/ecf6105-economic-analysis-for-business/microeconomics-of-public-policy-analysis.html[Accessed 18 December 2021].

My Assignment Help. ‘Economic Analysis For Business’ (My Assignment Help, 2021) accessed 18 December 2021.

My Assignment Help. Economic Analysis For Business [Internet]. My Assignment Help. 2021 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/ecf6105-economic-analysis-for-business/microeconomics-of-public-policy-analysis.html.

.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}


Thank you for your interest
The respective sample has been mail to your register email id


$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1

Account created successfully!
We have sent login details on your registered email.



MyAssignmenthelp.com is one of the leading providers of online assignment help in the world. For more than a decade, the team of experts at the website has helped thousands of students achieve their academic goals with perfection. If you are stuck with an assignment for long or cannot spare enough time for the task, hire a qualified assignment writer from the website and get the assignment help as per your requirements.

Latest Management Samples

div#loaddata .card img {max-width: 100%;

MPM755 Building Success In Commerce
Download :
0 | Pages :

Course Code: MPM755
University: Deakin University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…

SNM660 Evidence Based Practice
Download :
0 | Pages :

Course Code: SNM660
University: The University Of Sheffield

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration 

BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :

Course Code: BSBHRM513
University: Tafe NSW

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…

MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :

Course Code: MKT2031
University: University Of Northampton

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Turkey Istanbul Management University of Employee Masters in Business Administration 

MN506 System Management
Download :
0 | Pages :

Course Code: MN506
University: Melbourne Institute Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology 


Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog

11174 Introduction To Management

Free Samples 11174 Introduction To Management .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} 11174 Introduction

Read More »