DU Economic Analysis of Woolworths Limited Essay

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Abstract (5%)
Summarizes the report without
being vague.
Communicates the main results.
Formatting (5%)
Adheres with formatting and style
requirements (maximum 3500
Words). Has a title.
Main Analysis (60%)
Answers all the questions listed in
the assignment guidelines as
relevant for the firm. Uses data and
figures well.
The section is well structured and
well written.
Consumer rationality
Is it reasonable to assume that
consumers in this industry are
perfectly rational? What strategies
does the firm employ to take
advantage of the bounded
rationality of consumers?
Pricing
Does the firm use price
discrimination methods?
Introduction (10%)
Motivates the importance of the
firm. defines the relevant
market/industry.
Summarizes the rest of the paper.
Conclusion (5%)
Adequately summarizes the
main properties of the
industry and discusses its
future directions.
The section is well
structured and well written.
The section is well structured and
well written.
Spelling & Grammar (5%)
Referencing (10%)
Uses correct spelling and grammar Avoids plagiarism.
throughout the paper.
Properly uses the APA (or
Harvard) referencing style
consistently.
Uses quotes and
paraphrases adequately.
Clearly distinguishes original
work from referenced work.
Market Structure
Regulation
What is the market structure of
Do the competition
the industry that the firm is
authorities regulate this
operating in? How many firms are market?
there in the market? Are there
any barriers to entry?
Have there been reports of
anticompetitive behaviour
by any firm in the industry?
Network effects
Asymmetric Information
Is the market multi-sided? Are
What is the informational
there any direct or indirect
structure of the market?
network effects?
Can buyers easily observe
price and quality?
What specific strategies
does the firm employ to
solve or take advantage of
asymmetric information
problems?
Production function
Advertising
What is the cost structure of the
How intensive is the usage
company?
of advertising?
What are the main factors of
production? Are there economies
of scale and scope?
What form of advertising is
mainly used by this
company?
ECON7110
Consumer and Firm Behaviour
Company Analysis
Assignment Due Date: 1 November 2021, 16:00
Assignment Weight: 30%
The purpose of this INDIVIDUAL report is to analyse a company. For large companies that operate
in multiple industries you should focus on a single market that the company is operating in. You should use
the concepts and tools learned in the course to successfully complete this task. The assessment must be
submitted in pdf format via the Turn-it-in folder on the course Blackboard site.
The report should be organized in a coherent manner and must have a title, an abstract (max. 200
words), a short introduction, main analysis and a short conclusion. The essay is limited to 3,500 words
(excluding references, figures).
In the introduction you should define the specific market that you are analysing (e.g. WestBank in
the Australian home loan market) and justify why chose to define the market so narrowly/broadly.
In the main analysis you need to answer the following questions:
•
What is the market structure of the industry that the firm is operating in? How many firms are there
in the market? Are there any barriers to entry?
•
Do competition authorities regulate this market? Have there been reports of anti-competitive
behaviour by any firm in the industry?
•
What is the cost structure of the company? What are the main factors of production? Are there
economies of scale and scope?
•
Does the firm use price discrimination methods?
•
What is the informational structure of the market? Can buyers easily observe price and quality?
What specific strategies does the firm employ to solve or take advantage of asymmetric information
problems?
•
How intensive is the usage of advertising? What form of advertising is used by this company?
•
Is the market multi-sided? Are there any direct or indirect network effects?
•
Are consumers in this industry perfectly rational? What strategies does the firm employ to take
advantage of the bounded rationality of consumers?
You should discuss other important questions in your essay if they are crucial to the understanding of
the firm. In your analysis you should make use of quantitative data (costs, market share, profitability,
advertising expenditure etc.) in answering the above questions. Usage of graphs and tables is highly
appreciated.
The University of Queensland
Brisbane QLD 4072 Australia
T
F
+61 7 334 670 64
+61 7 3365 7299
E
W
k.kalayci@uq.edu.au

Dr. Kenan Kalaycı


ABN: 63 942 912 684
CRICOS Provider 00025B
ECON 7110:
CONSUMER AND FIRM BEHAVIOUR
Writing Fundamentals
1. The structure
Include all the necessary sections for the genre, e.g. introduction, methods, results. Use headings
and subheadings to divide sections into logical segments.
2. Paragraphs
Your paragraphs should create a logical flow of information or arguments. To check your
assignment, write down the main point or topic of each paragraph and assess whether the topics
create a coherent story. If any paragraphs jump from one topic to a completely unrelated topic, you
may need to rearrange the order of your paragraphs or include extra paragraphs to improve
readability. You should double-check that each paragraph is relevant to the heading or subheading
(e.g. results should be in the results section).
You should have a logical flow within your paragraphs. In a similar way that paragraphs flow
from one topic to the next, the paragraph sentences should guide your audience through your
argument, explanation, or description.
Basic paragraph
A paragraph is simply a collection of sentences that address a single topic. The basic paragraph
structure includes a topic sentence or main point followed by supporting evidence, an explanation,
more information or an analysis. This basic paragraph structure is known as the M.E.A.L format.
Not all paragraphs will fit the M.E.A.L format but it is a good foundation for the majority of
paragraphs in introductions, discussions, and conclusion sections of scientific writings.
Structure of a basic paragraph
M: Main topic / claim
The first sentence indicates to the reader what
the whole paragraph will be about. This main
topic or claim can be something that you wish to
explain or analyse, or a specific statement that
you need to support with evidence.
E: Evidence
Evidence is anything you use to explain or
support the main topic or claim. Evidence comes
in many forms and often includes examples,
and/or reference to your own or other people’s
study results, and/or reference to published ideas
or information.
A: Analysis
The analysis section of a paragraph links the
claim and the evidence. This section is your
The University of Queensland
Brisbane QLD 4072 Australia
T
F
+61 7 334 670 64
+61 7 3365 7299
E
W
k.kalayci@uq.edu.au

Dr. Kenan Kalaycı


ABN: 63 942 912 684
CRICOS Provider 00025B
opportunity to explain to your audience why the
evidence that you have provided supports the
claim, or perhaps highlight the specific limitations
of your evidence.
For example, why is the evidence you provided
relevant to your main topic or claim? What are the
limitations of the evidence you provided? What
aspects of the evidence you provided do not
apply in all situations? You do not need to present
all of these analyses. The ones you use will
depend on what your topic or claim is for that
paragraph.
L: Link to the next paragraph / conclusion
The final part of the paragraph can be used to
provide a conclusion and/or a link to the next
paragraph. This allows you to guide your reader
from one claim or idea to the next and will help
you to create a logical flow of information.
3. Sentences
The first sentence indicates to the reader what the whole paragraph will be about. This main topic or
claim can be something that you wish to explain or analyse, or a specific statement that you need to
support with evidence.
Editing your sentences can be one of the most effective ways to improve your written
communication. During the writing process you may be focused on getting your thoughts down
rather than paying close attention to sentence structure. This can result in unnecessarily wordy or
confusing sentences.
Keep subjects and verbs close together
By placing the subject and verb close together, your audience can understand your sentences much
more easily, particularly when you are addressing complex topics.
Blue: subject
Red: verb
Example
Zombie sheep in areas where control measures are insufficient or absent threaten the futures of
farming communities.
This sentence takes 9 words before we know what the subjects (the zombie sheep) are actually
doing (threatening the futures of farming communities).
To improve the readability of your sentences, you should try to keep the subject/s and the verb as
close as possible. This may not be an easy task when the sentence is describing complex scenarios
or using multiple scientific terms.
2
Improved example
Zombie sheep threaten the futures of farming communities in areas where control measures are
insufficient or absent.
The sentence could also be reworked to use the passive voice, with a focus on the farming
communities:
The futures of farming communities are threatened by zombie sheep in areas where control
measures are insufficient or absent.
Place unfamiliar information at the end of sentences
To improve cohesion within a paragraph, you should try to link the end of one sentence with the
beginning of the next sentence. You can link sentences by placing familiar information at the
beginning of a sentence and unfamiliar information at the end.
If you maintain this “familiar information -> unfamiliar information” structure throughout your
paragraphs you will gradually expose your audience to new information or arguments, thus avoiding
confusion.
Purple: familiar information
Green: unfamiliar information
Example
Poor cohesion:
The Pug is a small breed of dog that originated in China. Pugs became popular among the
European nobility in the 16th century after they were imported from China.
Better cohesion:
The Pug is a small breed of dog that originated in China. Pugs were exported from China to Europe
in the 16th century and became popular among the European nobility.
The second option above provides better cohesion between the two sentences because of the
familiar -> unfamiliar sentence structure.
Check your sentences and, if necessary, rearrange them to place unfamiliar information at the end
of sentences.
Active vs. passive voice
Active voice: when the subject is a person or a thing performing an action.
Passive voice: when the subject is something being affected by an action.
Blue: subject
Red: verb
3
Subject Verb
Object 1
Object 2
Active voice
Betty
dropped
the acid
on the
floor.
Passive voice
The
acid
was
dropped
on the
floor
by Betty.
Pasive voice w/o The
object
acid
was
dropped
on the
floor.
These three sentences say exactly the same thing but in the passive sentences the focus has
shifted from Betty to the acid.
When to use passive voice
Using the active voice is encouraged in scientific writing; however, there are situations where using
the passive voice is more appropriate.
1. Changing the focus of a sentence to maintain cohesion.
Active voice: Approximately 67% of the global sheep population are classed as zombies. Each
year, governments destroy millions of zombie sheep in an effort to reduce the population.
Initially the focus is on zombie sheep but then shifts to governments in the second sentence.
Passive voice: Approximately 67% of the global sheep population are classed as zombies. Each
year, millions of zombie sheep are destroyed by governments in an effort to reduce the population.
In both sentences the focus remains on zombie sheep, resulting in good cohesion.
2. When the subject is unknown or irrelevant.
(I.e. a methods section)
Active voice: We added 1 µl of pug flatulence extract to the neural cell culture.
The ‘we’ in this sentence doesn’t provide anything meaningful to the sentence.
Passive voice: 1µl of pug flatulence extract was added to the neural cell culture.
This sentence removes the superfluous ‘we’ and focuses on the pug flatulence extract.
3. When the subject is too long.
Active voice: The zombie sheep neural cell sample exposed to high doses of hydrogen
sulphide showed high rates of mortality.
This sentence uses far too many words before the action word is reached. This can result in an
audience getting lost in the sentence before they understand the meaning.
4
Passive voice: High rates of mortality were shown by the zombie sheep neural cell samples
exposed to high doses of hydrogen sulphide.
In this sentence, the audience is cued to think about high rates of mortality before reaching the
lengthy section referring to the zombie sheep neural cells. By simply changing the subject, the
sentence is easier to understand.
What is a nominalisation?
Nominalisations are verbs that are modified to create nouns. They are common in scientific writing
and are often used to make a sentence sound more scholarly.
Unfortunately, using nominalisations can turn a simple sentence into a wordy or confusing
sentence. Therefore, a nominalisation should only be used if it improves a sentence.
When to use a nominalisation
Nominalisations should be used in moderation. While some nominalisations may be field-specific
and refer to a familiar concept, you should only use a nominalisation if it will help your audience to
understand your message.
1. Maintaining paragraph cohesion (E.g. “The neural cell cultures were incubated at 37 oC for 1
hour. Each incubation was conducted in triplicate.”)
2. Using field-specific terminology (E.g. fragmentation, destabilisation, regulation, fertilisation,
incubation).
3. Reducing lengthy sentences (E.g. “The fragmenting of an ecosystem” becomes
“ecosystem fragmentation“)
Unnecessary nominalisations
Blue: subject
Red: verb
Green: nominalisation
“We analysed the data…”
using a nominalisation becomes
“We performed an analysis on the data…”
“We investigated the cause of…”
using a nominalisation becomes
“We conducted an investigation into the cause of…”
5

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Economic Analysis of Woolworths Limited

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