Chemistry and Economics?

I know this is a bit of a vague question but I have to write a report on pretty much anything in Chemistry but I would like to link it to Economics in some way. Does anyone have any ideas?

Reply 1

Charzhino

Well I don't know too much about economics because I havn't studied it at any academic level, but I guess you could try and incorporate a chemical drug used in medicine with the economics of its sale involving supply/demand and that sort of nature?

Reply 2

SS90

Thanks for the input...anyone else got ideas???

Reply 3

Mustard-man

Hmm... I guess you can relate it to metal/organic chemical production of industrial size. They basically all use catalysts that lower the activation energy required for effective collisions, thus a lower temperature may be used and still obtaining a similar rate of reaction. Therefore cost is minimised (i.e. the minima of the AC curve) for producers - microeconomic level. Examples could include iron and aluminium production. The raw materials required for the extraction are rich in countries such as Norway, so their export would be quite strong in relation to imports - macroeconomic level. Note: Norway also has one of the highest per capita incomes in the world. As a result, aggregate expenditure may increase (shifting the AE curve with a multiplier effect), if the economic conditions are not regulated carefully, and price level rises consequently. A sustained increase in the average price means inflation. As a result, the government may increase tax to supress it, or the Feds may increase interest rate (note: Eurozone countries don't have independent control). These are the two macroeconomics tools (fiscal and monetary policy). You may want to consider the OPEC countries as well, and of course the "cartel" situation. I guess you could also talk about fuel properties from Unit 2 Edexcel Chemistry - e.g. grams per joule would be an important factor in motorbikes, and other properties... My Chemistry knowledge has faded somewhat since 2 years ago :p:

Reply 4

mulu89

try using the production of ammonia from nitrogen and hydrogen gas. its called the Haber process.

the reaction is done at around 400 degrees Celsius and 200 atm. these conditions are chosen for economic reasons. (which u can find out yourself) link it to marginal cost and marginal revenue.

http://en.wikipedia.org/wiki/Haber_process

here's a wikipedia link. the content is quite heavy, so you might want to refer to one of the links they have at the bottom of the page.

Reply 5

Yasmin2K8

Metals i.e. the use of Ores and different extraction processes and use economic theory to provide evidence for the use of such processes especially for rarer metals i.e. Titanium etc