Business Markets and the Economy Essay

P6 describe how business markets are modulated in the UK (Case Study) M3 explain why the governing body needs to regulate business markets P7 explain how EU requirements influence business markets in the UK D2 evaluate the effectiveness of the regulatory regime in a selected marketThe main mathematical function of this assignment is to describe how business markets are regulated in the UK and explain how EU requirements influence business markets in the UK.Scenario Case study given projection 1 (ALL) Students need to consider how governments intervene in markets to regulate them (can be linked to P4). Intervention can be through taxes and subsidies which are designed to extend the market to achieve specific objectives. The work of the Competition Commission, and the offices of the regulators for the privatised but previously state-owned monopolies, should be examined to see the purpose and effect of government intervention. Topics that can be utilize in a case study example (do not all need to be covered as covered in P4) market ill justification for intervention market regulation deregulation unfair competition competition policyCompetition Commission privatisation private finance initiative government policies subsidies taxationThis provides evidence for P6 Task 2 (MOST) Students should build on the work for P4 and P6 and explain why governments intervene in markets and what the consequences of market interventions are. There are cumulation of examples, reported on regularly where the regulators consider the consequences of industry activity on producers and consumers. For example, rail fares are increased annually and the proposals generate debate about reconciliation the interests of the train operating companies and passengers. (not to be attempted until completion of P6)This provides evidence for M3 Task 3 (ALL) Students should report on how EU policies and activities impact on UK business markets. wholeness useful area to consider is in relation to aviation policy and how the EU has tried to put national flag carriers into a competitive theoretical account which confronts national governments protectionist practices and gives consumers a better deal. Topics that must be covered European pairing the single market (free trade, harmonisation, capital, labour, technical standards, simplified trading) monetary union amicable chapterThis provides evidence for P7Task 4 (SOME) Students should evaluate the effectiveness of the regulatory regime in a selected market. If the banking industry is considered then the role of the Financial Services ascendancy in the period before the recapitalisation of the banks will provide some contrasting views as to its effectiveness.This provides evidence for D2 Sources of informationTextbooksGillespie A Business in Action (Hodder Arnold, 2002) ISBN 0340848200 MankiwN and Taylor M Economics (Thomson Learning, 2006) ISBN 1844801330 Marcouse I et al Business Studies (Hodder Arnold, 2003) ISBN 0340811102 Sawyer M The UK Economy, 16th Revised Edition (OUP Oxford, 2004) ISBN 0199266514 Sloman J and Sutcliffe M Economics for Business (Financial quantify/Prentice Hall, 2004) ISBN 0273683357JournalThe EconomistNewspapersBusiness sections of broadsheet newspapersThe Financial TimesWebsitesnews.bbc.co.uk/1/hi/business/default.stm The BBC websites business section.www.bized.co.uk Bized provides a selection of educational activity resources.www.direct.gov.uk/en/index.htm This is the UK governments own site and there are links to a range of relevant data sources.www.esrc.ac.uk/ESRCInfoCentre/facts/index27.aspx?ComponentId=7102&SourcePageId=7079 The ESRC has current UK data.europa.eu Website of the European Unionwww.ofgem.gov.uk/Pages/OfgemHome.aspx Office of the Gas and Electricity Markets the regulatory authority. Each regulator has a similar site.www.statistics.gov.uk The UK Statistics Authority.www.ukpublicspending.co.uk The site has data on public spending both current an d historic.