Economics IA article help?

[Roselian]

Hi everyone,

I'm thinking of doing my Econ IA on fossil fuels, and how as they run out (scarce resource with negative externalities) they should be replaced with renewable energy.

I was thinking of this article:

http://www.care2.com/causes/renewable-energy-is-actually-cheaper-than-coal-and-gas-in-australia.html

Could any of you look at it and give me an idea of what I can analyze economically in the article? Meaning, how can I translate this to a microeconomics IA?

[ckiu_pinkpanda]

Hi,

I'm not a big fan of the article. I think the tone is a little bit too casual and personally for me, I guess it'd be better if the source is from a more official media like BBC, CNN or any newspaper.

The article itself talks quite a bit about how renewable energy is cheaper than fossil fuels. However, i

f you need to put it into a micro IA, i think rather than how fossil fuels should be replaced, you can look at how market failure is reduced if renewable energy sources are used instead.

I guess in demand and supply terms you can also look at cross-priced elasticity, although I'm not sure how one will be able to choose energy from a renewable energy supplier or a fossil fuel energy supplier.

Another perspective might be looking at the market structure of energy providers, but this doesn't seem to be a good article for it.

HL Economics Predicted grade 6.

Hope this helps~

[Yolo Swaggins]

I don't think there's much in the syllabus you can actually talk about- perhaps substitute goods and taxing (carbon taxing). Other than that, I don't really see much economic analysis you could pull out of it. Then you have some types of energies being cheaper or more expensive than other types, and I guess you could say something about elasticity there, but that seems beyond the scope of the article and not enough to interpret to make a good IA.