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A game of cartel combat

In a corporate landscape seemingly rife with dubious activity and insufficient regulatory reach, the ACCC’s game theory based whistleblower approach to cartels may be an unexpected diamond in the rough. Tingnan Li forgoes a cape but nevertheless investigates this unlikely hero.

Is competition regulation an oxymoron?

Australia needs a full-time, focussed competition watchdog that applies the law using state-of-the-art economics, understanding the ambiguities and subtleties of market interactions, writes Professor Stephen King.

John Freebairn Lecture recap

On Thursday the 19th of September the University of Melbourne hosted the inaugural John Freebairn lecture titled ‘Governing the ungovernable: the market, technology and you’, presented by Professor Stephen King from Monash University. I had the opportunity to attend what was an insightful lecture about how the growing complexity, pace of change and use of technology has brought about a conundrum for market regulators. Stephen King’s speech was broken up into three parts: how regulation has adapted in the context of new technology, how some of the old rules will need remaking as technology has changed many business models, and finally regulating big data and the information revolution.  This article will provide a recap of the lecture for those who could not attend the event.

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The Cost of Low Prices

Nary has a week gone by without melancholic economic news to bring one’s mood down. Amidst such woes, one of the consistent comforts Australians can depend on is the competitively low prices at the big supermarkets. With Coles and Woolworths now calling a price war on fresh produce, having already hammered down milk prices, it appears as if these giants are altruistically looking out for us. Blatant sarcasm aside, lowered prices must come from somewhere along the supply chain, which is certainly worth looking into.

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The Carbon Tax: Tony Abbott’s Ticking Time Bomb

On the 9th July 2010, Prime Minister Julia Gillard announced the Government’s intention to introduce a ‘carbon tax’ in order to put a price on pollution and thereby give firms an incentive to reduce carbon emissions. The carbon tax passed the House of Representatives and the Senate on the 12th October 2011 and the 8th November 2011 respectively, and consequently on the 1st July 2012 a tax of $23 per tonne of carbon emissions will come into effect.

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ESA Careers Event Recap

Following the success of the ESSA Launch Night, we held our first cornerstone career-based event with the full support of the Economics Society of Australia on Wednesday, the 14th of March. Thank you to all members, including those who  signed up on the night or at our previous events, and more broadly to everyone that attended the event! The ESSA team hopes that you have gained important knowledge about the numerous job opportunities available to an economics student.

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