Summative Academic Essay
1. In 2014, Qantas, formerly a government-owned airline, asked the federal government for assistance. Identifying the concepts taught in this unit, discuss the arguments that were used by both sides of the Qantas ‘bailout’ debate. Based on the theories of the role of the state taught in this unit, was the government’s stance justified? Why or why not?
2. Are international institutions such as the International Monetary Fund (IMF) and the European Union (EU) helping or hindering economic recovery in Greece? Discuss, incorporating or countering the “democratic deficit” argument in your answer.
3. Using an example of an anticipatory industry policy measure, discuss the merits of the particular policy (drawing on the concepts taught in this unit). To what extent were the policy objectives achieved? What were the unintended consequences of the policy?
4. To what extent does business dominate industry policy in Australia? Discuss, using examples and drawing upon the concepts taught in this unit.
5. Are Australian consumers better off as a result of economic rationalism? Discuss, drawing upon the concepts taught in this unit.
6. If the free market provides better outcomes for consumers, why was Mr Campbell Newman’s Government so severely punished by voters at the 2015 Queensland state election? Discuss, using examples and drawing upon the concepts taught in this unit.