Business Markets and the Economy Essay

P6 describe how business markets ar foild in the UK (Case Study) M3 explain why the government needs to regulate business markets P7 explain how EU requirements influence business markets in the UK D2 mensurate the exploitiveness of the regulatory regime in a selected marketThe main(prenominal) purpose 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 cartoon givenTask 1 (ALL) Students need to consider how governments intervene in markets to regulate them (can be linked to P4). Intervention can be through and through taxes and subsidies which are designed to distort the market to achieve specific objectives. The officiate 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 intercession. Topics that can be used in a solecism study ex ample (do not all need to be cover as covered in P4) market failure justification for intervention market regulation deregulation unfair competition competition policyCompetition Commission privatisation private finance initiative government policies subsidies tax incomeThis provides deduction 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 bundle 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(predicate) balancing the interests of the train operating companies and passengers. (not to be attempted until completion of P6)This provides severalise for M3 Task 3 (ALL) Students should report on how EU policies and activities impact on UK business markets. One useful area to consider is in affinity to aviation policy and how the EU has tried to put national tholepin carriers into a competitive framework which confronts national governments protectionist practices and gives consumers a better deal. Topics that mustiness be covered European Union the single market (free trade, harmonisation, capital, labour, technical standards, simplified trading) monetary union social 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 Authority in the point 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, 20 03) ISBN 0340811102 Sawyer M The UK Economy, sixteenth Revised Edition (OUP Oxford, 2004) ISBN 0199266514 Sloman J and Sutcliffe M Economics for Business (Financial times/Prentice Hall, 2004) ISBN 0273683357JournalThe EconomistNewspapersBusiness sections of broadsheet newspapersThe Financial multiplicationWebsitesnews.bbc.co.uk/1/hi/business/default.stm The BBC websites business section.www.bized.co.uk Bized provides a endurance of teaching resources.www.direct.gov.uk/en/index.htm This is the UK governments own site and at that place are links to a range of relevant data sources.www.esrc.ac.uk/ESRCInfoCentre/facts/index27.aspx?ComponentId=7102&SourcePageId=7079 The ESRC has rate of flow 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.uk ordinaryspending.co.uk The site has data on public spending both current and historic.