Hi, open the pdf file and only do macroeconomic analysis part 1
HC1072 Economics and International Trade Assessment Details and Submission Guidelines Trimester T1 2020 Unit Code HC1072 Unit Title Economics and International Trade Assessment Type Individual Assignment Assessment Title Economic Analysis of the Australian Market Purpose of the assessment (with ULO Mapping) To complete this assessment, students are required to: 1. Develop a broad understanding of the principles of macro and microeconomics in an economy. 2. Analyse economic environment nationally and internationally and its influence on business and national economic performance. 3. Critically analyse government’s fiscal and monetary policy and their influences on the economy and business in general. 4. Comprehend how economies benefit from international trade. 5. Synthesize theoretical and practical knowledge of economics for application in work-life situations. Weight 40 % of the total assessments Total Marks 40 Word limit No more than specified in each section in the detailed task list Due Date Microeconomic Analysis 5pm Friday 22 May 2020, Week 8 Video Presentation 5pm Friday 05 June 2020, Week 10 Macroeconomic Analysis 5pm Friday 12 June, Week 11 Submission Guidelines • All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. • The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. • Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style. • Submitted work should be your original work showing your creativity. Please ensure the self-check for plagiarism to be done before final submission in accordance with SafeAssign Student Guide in Black Board. As a guide, a similarity score of over 20% is considered as excessive except in the cases where the similarity is caused by the use of template provided by the lecturer, references or sources of data. Please note that it can take 48 hours for the self-check report to be available for your viewing. • You are required to submit the assignment at HC1072//Assessments/Individual Assignment Information and Submission link on Black Board. There are 3 separate links for your 3 tasks. Always keep an electronic copy until you have received the final grade for the Unit. Please make sure that you submit the correct file. Any appeal relating to submitting wrong files after the deadline will not be considered. Assignment Specifications Assignment Tasks The assignment task is a written analysis of any published article regarding the Australian Market (newspaper, magazine or website) from 01 Jan 2020 and onwards. Your task is not to research and provide data. You are instead ask to analyse an event using your knowledge of economic principles. HA1022 Principles of Financial Management Group Assignment Page 2 of 7 You will be required to apply the economic concepts you have learned in class to interpret events reported in your article. Task 1: Choose your article. The first come, first served rule will apply. No two persons can use the same article for the assignment. Register your article by sending an email to
[email protected]. Your email should state: a) HC1072 Individual Assignment by Name, Student ID b) Article Name/Title c) Date Published and Author/Writer A response will be sent. It will indicate, APPROVED or NOT APPROVED. Do not start your work unless you have the email response. Task 2: Ensure that a full printed copy of your article is saved as part of the Appendix of your paper. Deductions will be applied if the printed copy is not provided. Task 3: Microeconomic Analysis (Part 1) – for submission on Week In this part of your assessment, you will analyse the event reported in your chosen article based on microeconomic concepts learned in class. Ensure that you have the full print out of the article in the Appendix of your paper. Task 4: Individual Video Presentation (Part 2) – for submission on Week In this part of your assessment, you will summarise in a video, all your findings from your analysis. This applies for both microeconomics and macroeconomics. You can still finalise your written paper afterwards but here you will verbally report your findings. Your video should be for a minimum of 8 minutes and maximum 15 min. You will be required to show your face in some part of the video. Please state your full name and student ID clearly at the start of the video. Voice over is allowed with powerpoint slides. But remember, we will match your voice and photo for identity checks. Task 5: Macroeconomic Analysis (Part 3) – for submission on Week This is your final paper and should include both Microeconomic (Part 1) and Macroeconomic Analysis (Part 2) and the full print out of the article in your appendix. Refer to the below table for the specific task details and some guide questions for your analysis. Assignment Structure should be as the following: Requirement/s and Guide Questions Event/Product/Company Description (2 marks, up to 250 words) a) Elaborate on the event being reported in your chosen article. Why did you choose to analyse this event? b) What are the products and services being sold? What is the significance to the Australian Economy of the product/service? c) Who are the parties involved? Identify who is the supplier and who is the consumer in the event. Microeconomic Analysis (Part 1) Demand and Supply (5 marks, up to 600 words) In this part of your paper, you are required to discuss the Demand and Supply interactions. a) What are the Determinants of Market Demand for your chosen event? How do these determinants affect Total Demand? mailto:
[email protected] HA1022 Principles of Financial Management Group Assignment Page 3 of 7 b) What are the Determinants of Market Supply for your chosen event? How do these determinants affect Total Supply? c) Who has power in the market? Analyse any shortage or surplus situation, if applicable. d) Characterize the elasticity of the product being analysed. Who bears the cost of any price increase? Industry Description and Market Structure Analysis (4 marks, up to 500 words) a) Characterize the size of the industry and the level of competition. b) Identify the Market Structure in the industry. Discuss how market structure influences the prices in the industry. c) Identify the regulator/s of the industry. Comment on the extent of the regulator’s power to ensure compliance within the industry. d) Are there any industry groups that help regulate behaviour aside from regulators? Externalities (3 marks, up to 250 words) a) Aside from the initial buyer and seller that you have identified, are there any 3rd parties affected by the economic event? b) Describe the impact to the 3rd party. Is it negative or positive? c) What other actions or behaviour is triggered by the impact to the 3rd party? What solutions are applied for the externalities you have identified? Macroeconomic Analysis (Part 2) GDP and Unemployment (4 marks, up to 500 words) a) How much is the overall GDP contribution of the industry for the event reported in your article? Which part of the GDP does the event affect (C, I, G or NX)? Explain the expected effects on GDP (whether increase or decrease). b) Will the event increase or decrease unemployment? Discuss the impact on the economy. Fiscal Policy (3 marks, up to 250 words) a) Describe the action taken. b) Is the policy expansionary or contractionary? Monetary Policy (3 marks, up to 250 words) a) Describe the action taken. b) Is the policy easy or tight? Findings, Conclusion and Recommendations (4 marks, up to 500 words) Based on a summary of your findings, comment on the economic health of the industry (microeconomics) and the economy as a whole (macroeconomics). What further recommendations from regulators and industry experts can be applied to sustain the health and development of the industry and the country? Do you agree with these recommendations? State why or why not. Presentation of Paper (including Assignment Cover Page and Reference List) – 2 marks and not included in word count Marking criteria Marking criteria Weighting Event Description 2 Microeconomic Analysis - Part 1 a) Demand and Supply (5) b) Market Structure (4) 12 HA1022 Principles of Financial Management Group Assignment Page 4 of 7 c) Externalities (3) Macroeconomic Analysis – Part 2 a) GDP and Unemployment (4) b) Fiscal Policy (3) c) Monetary Policy (3) 10 Findings, Conclusion and Recommendations 4 Presentation of Paper (including references) 2 Subtotal (Paper) 30 Video presentation – Summary of Findings 10 Total 40 Example for Students: Note that the example provided is in draft form. Bullet points indicate the topics that need to be elaborated on. You will need to write paragraphs. This is a structure for an analysis. Article : 2020 Olympics Delayed to 2021 (ensure to have a copy of full article in the appendix) Publish Date: 15 April 2020 Published In: Indicate the source MICROECONOMIC ANALYSIS Event/Product/Company Description (2 marks, up to 250 words) a) Elaborate on the event being reported in your chosen article. Why did you choose to analyse this event? • Olympics is a worldwide event that happens only every 4 years. • I choose this event because I am interested to analyse why countries would spend money and resources to hold such an event. b) What are the products and services being sold? What is the significance to the Australian Economy of the product/service? • Product/Service – Sports, Entertainment/Media, Travel, Hospitality • Australia sets aside a significant budget for the development of athletes and