The paper 'Demand, Supply, and Market Equilibrium' is a great example of a Macro and Microeconomics Case Study. Sugarcane cultivation and associated industrial paraphernalia contribute roughly two and a half-billion dollars to the Australian economy. The industry has aged over a century now in Australia and it has proved to be a key mechanism for the growth and progress of many coastal communities. Moreover, it has played a vital role in the economic stability of rural areas of Australia. Issues: When it comes to sugar industry in Australia, it is difficult to complete the analytical discussion without taking “ CANEGROWERS” into consideration.
It is a leading representative forum for Australian sugarcane growers. Around 80% of Queensland sugarcane growers are members of this forum which in fact is a representation and services group. Based in Queensland, the State that produces around 95% of Australia’ s raw sugar output, the CANEGROWERS National Office represents the interests of cane growers Australia wide. (CANEGROWERS Constitution, 2006). Government and business leaders recognise CANEGROWERS as the authoritative voice of cane growers. Membership ensures that growers' needs are represented at the highest possible levels of industry and government decision-making.
We safeguard growers' interests on all issues likely to affect their business. The given case study highlights the aspect of quality in this industry. The industry is viewed as one of the most progressive in the world. It has channelled huge amounts of time and energy into research and development, continually looking at ways of farming better to protect the land and surrounding environment so that growers can continue to plan to make a living from their farms for generations to come.
Analytical Approach: This assignment endeavours to take a closer look from the economic perspective to the aspect of quality and associated technological advancement in this industry. The discussion in this regard will be undertaken by answering series of relevant questions.
1. CANEGROWER Membership Brochure, http://www.canegrowers.com.au/icms_docs/70345_CANEGROWERS_Membership_Brochure_2010.pdf, accessed on 19th August 2011.
2. CANEGROWERS Constitution, 2006, http://www.canegrowers.com.au/page/Industry_Centre/About-CANEGROWERS/ accessed on 19th August 2011.
3. Case, K.E., Fair, R.C. (1994). 'Demand, Supply, and Market Equilibrium', Chapter 4 in Principles of Economics, 3rd ed., Prentice Hall Englewood Cliffs, New Jersey
4. F.M. Scherer and D. Ross, Industrial Market Structure and Economic Performance, Houghton Mifflin Co., Boston, 1990, Ch. 12, especially pp. 483-488.
5. Fred H. Cate and Richard J. Varn, The Public Record: Information Privacy and Access, A New Framework for Finding the Balance 10, 13 (1999)
6. McWhinney, W., Crawford, D.M., Ridge,D.R., Cameron, J.M., and Absolon, J.E.(1988). The economics of cane from field to factory. Proceedings of the Australian Society of Sugar Cane Technologists, 10: 7
7. Taylor, J.B. & Frost, L. 2009, Microeconomics, 4th edn, John Wiley & Sons Australia Ltd, Milton.
8. The World Sugar Research Organisation, http://www.wsro.org/, accessed on 19th August 2011.