Details of task
Step1: Pick up a broad topic in consumer economics (some examples have been given during the research proposal stage),
Step 2: Identify one or several current issues related to this topic – such as:
- the behavioural inconsistency between a rational consumer and a real-world consumer (supported by the real-world data).
- the lack of information which leads to the market failure
- the existence of externality which leads to the sub-optimum of market solution
Step 3: Place these broad & specific questions in context of the literature
Step 4: Analyse policy options (such as, tax/subsidy, forced disclosure of information, using IT technologies to disseminate information, prohibition of some activities, and etc.)
Step 5: Critically evaluate these policies options through your own research
Step 6: Write an essay to summarise your research methodology and main findings.
Suggested structure of the essay:
- Title, Aim & Objectives – Broad and Specific
- Background Research & Significance of the Study (problems)
- Research Strategy
- Outcomes
- Conclusions
- References