Assessment Item 2 The demand for native foods essay assigment Sem 1 2021 PDF

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EFB223 Economics 2 Semester 1 2021 Assessment item 2: Essay Assignment Due date Friday 16 April (week 6) Assignments are to be submitted via Turnitin This document contains important information about your assessment. You will need to read it carefully to understand what is required.

CASE STUDY “Native bush food demand outstripping supply says industry as more growers encouraged” (ABC Rural) The demand for Australian native foods across the country is by far exceeding supply, according to the industry's peak body. Australian Native Food and Botanicals (ANFAB) is trying to encourage new producers in the industry and existing growers to plant more crops. ANFAB chair Amanda Garner said demand for native foods far outstripped supply. "We're a really supply-poor industry at the moment," she said. "The market has increased due to all the chefs selling and using [native foods] and all the media [attention], so we're short of supply on just about all products at the moment.” "The buyers are there; Asia is our next neighbour and they're interested in our native food products for culinary [use] and nutraceuticals is huge, and we just can't meet demand."

“Growth Industry” (Rook, 2019) (Note: This article contains some bad language) Although demand shows no sign of decreasing – especially given the ‘superfood’ status attached to many native foods – supply is severely limited because so much of the total amount of native produce is currently wild-harvested. This is largely why native foods are so expensive: even commerciallyproduced finger limes, for example, can sell for between $40 and $45 per kilogram. This means that while a wealthy few get to enjoy new gourmet meals, many Aboriginal people, if not in a position to wild-harvest themselves, simply cannot afford to buy their traditional foods. It also means that there is a strong economic incentive for disadvantaged Aboriginal communities involved in wild harvesting to sell more and consume less of their traditional foods – which, Slockee says, ‘is happening right now in our communities and is completely changing people’s diets’ – and a growing risk of a native food black market.

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Case study As the growing demand for native foods is creating a shortage of native foods and rising prices, the ANFAB has appointed you as their economic advisor and have tasked you to write up a document which addresses the following:  

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Provide a background overview of the market for native foods in Australia and overseas. Base on the events described in the case study, analyse and produce relevant diagrams, which reflects shortage, price and quantity change of native foods. (Note: actual prices are not required). Using relevant diagrams, critically discuss the impact on the economic welfare on both Aboriginal communities (i.e. local consumers) and domestic suppliers. Consider two economic policies that may address the shortage of native foods in Australia and the price rise; and analyse their impact on the economic welfare of Aboriginal communities and domestic suppliers.

While it is relevant to consider social and normative issues, your essay should focus on economic analysis and should address such aspects as consumer and producer welfare, efficiency, functions of market and government intervention amongst other things. In preparing for this essay you should read as widely as possible. As a first step you should read Chapters 1 – 7 of your text to get a good understanding of the relevant economic theories. Note also that although this is primarily a microeconomic case study, you are free to consider (but not essential) relevant macroeconomic theories/issues where appropriate.

Essay guide, format and word limit 

Where appropriate, consider and apply assumptions; and economic concepts.

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Citations from journal articles (not textbook) are essential in demonstrating in-depth research.

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Word limit (2000 words with 10% tolerance. The word limit excludes words in Tables, Diagrams and Reference list).

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You may use headings to help organise your ideas but they are not necessary.

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Abstract or executive summary is not required.

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A minimum font size of 11 and 1½ spacing is recommended.

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You are expected to use appropriate diagrams to enable you to concisely demonstrate your line of reasoning.

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