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HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HC1072 Economics and International Trade T2 2020 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 11 Sep 2020, Week 8 Online Presentation – to be scheduled starting from Week 10 Macroeconomic Analysis 5pm Friday 09 Oct 2020, Week 12 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. HC1072 Economics and International Trade T2 2020 Page 2 of 12 Academic Integrity Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard. Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment. Table 1: Six categories of Academic Integrity breaches Plagiarism Reproducing the work of someone else without attribution. When a student submits their own work on multiple occasions this is known as self-plagiarism. Collusion Working with one or more other individuals to complete an assignment, in a way that is not authorised. Copying Reproducing and submitting the work of another student, with or without their knowledge. If a student fails to take reasonable precautions to prevent their own original work from being copied, this may also be considered an offence. Impersonation Falsely presenting oneself, or engaging someone else to present as oneself, in an in-person examination. Contract cheating Contracting a third party to complete an assessment task, generally in exchange for money or other manner of payment. Data fabrication and falsification Manipulating or inventing data with the intent of supporting false conclusions, including manipulating images. Source: INQAAHE, 2020 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. You will be required to apply the economic concepts you have learned in class to interpret events reported in your article. HC1072 Economics and International Trade T2 2020 Page 3 of 12 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 8 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 Online Presentation (Part 2) –to be scheduled starting Week 10 In this part of your assessment, you will summarise in an online presentation, 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 presentation should be for a minimum of 5 minutes and maximum 10 min. You will be required to show your face, state your full name and student ID clearly at the start of the presentation. Voice over is allowed with powerpoint slides afterwards. But remember, we will match your voice and photo for identity checks. Details on how to register for an online presentation will be discussed by your Lecturer/Unit Coordinator in the Weekly Drop In Sessions for HC1072. It is important that once you receive your scheduled time, you ensure you have strong internet connection for this day and time. The lecturer will be asking relevant questions. Your marks will depend on your answers which should indicate the level of your understanding and analysis. Inability to answer questions and stating facts not on your written paper may indicate that you did not undertake the analysis on your own. This may affect the marks on your written paper which can be marked down with penalty or if proven to be academic misconduct, marked to zero. Task 5: Macroeconomic Analysis (Part 3) – for submission on Week 12 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. Recommended Assignment Structure Requirement/s and Guide Questions Event/Product/Company Description (3 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? mailto:
[email protected] HC1072 Economics and International Trade T2 2020 Page 4 of 12 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 (4 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? 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 400 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 (4 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