please make it exactly as per requirements and ensure good marks
Page 1 of 7 ASSESSMENT BRIEF Subject Code and Title ECON6001 Economic Principles Assessment Case Study (Research Based) Individual/Group Group (3 students) Length 2 000 Words (+/-10%) Learning Outcomes a) Analyse, individually and in teams the role of fundamental micro- and macroeconomic principles in business decision-making. d) Critically evaluate the applicability of various theories to economic policies and business decision making related problems. e) Critically evaluate the role and impact of various forms of government intervention in the economy including business implications. f) Communicate complex economic concepts to business professionals. Submission End of Week 10/ Module 5.2 (11.55pm Sunday) Weighting 30% Total Marks 100 marks Submission Instructions: This assignment must adhere to the following: 1. This assessment must be prepared and submitted as a group of 3 individuals. 2. The assessment is to be prepared in the format of a Business Report. Please ensure that the report format is adhered to as strictly as possible. Marks will be lost if any other format is used. 3. Submit as a Word or Pdf document. The assessment has to be properly referenced using the APA referencing style. Please note, Wikipedia or Investopedia are not acceptable academic sources. Reference list, appendices and calculations are not included in the word count. 4. Include the peer review justifying allocation of marks to each group member by remaining members of the group. Page 2 of 7 Context: Assignment 3 assesses students’ understanding of the concept of market failure and allows them to critically evaluate the involvement of the public sector in minimising the adverse effects of market failure to society. Instructions: In groups of 3 students you are expected to prepare a 2000 words Research Report which addresses the following: Select a pair from the following countries that have adopted inflation targeting as a monetary policy tool. Pair 1 Canada Australia Pair 2 New Zealand Norway Pair 3 Sweden United Kingdom Pair 4 Indonesia Thailand Pair 5 Botswana Iceland (a) Critically evaluate how this policy has been successful in ensuring the economies attain stable price stability, steady economic growth and reduced unemployment rate since adoption. Your discussion should include a comparative analysis of the two countries and you must make a judgement on which of the two countries has achieved better outcomes using inflation targeting. (800 words) (25%). (b) Of the less successful country, provide an explanation of what could have impeded policy implementation. (350 words) (10%). (c) Using the same two countries selected, critically evaluate how they have utilised fiscal policy during the global financial crisis of 2008/2009. (550 words) (15%). (d) Justifying with evidence (qualitative and quantitative), which of the two countries was more successful in minimising the potential negative effects of the recession? (300 words) (5%) In addition to the above, you will also be assessed on the following: (see marking Rubric at the end for more description of expectation). (e) Context and Purpose (5%) (f) Critical reasoning, presentation and defence of an argument and/or position (10%) (g) Analysis and Application with synthesis of new knowledge (15%) (h) Use of academic conventions and sources of evidence (5%) (i) Effective communication (5%) (j) Peer Review (5%) Page 3 of 7 Learning Rubrics Assessment Attributes Fail (Unacceptable) Pass (Functional) Credit (Proficient) Distinction (Advanced) High Distinction (Exceptional) Grade Description (Grading Scheme) Students expected to produce a well- structured report showing knowledge, critical reasoning and professionalism expected of postgraduate students Evidence of unsatisfactory achievement of one or more of the learning objectives of the course, insufficient understanding of the course content and/or unsatisfactory level of skill development. Evidence of satisfactory achievement of course learning objectives, the development of relevant skills to a competent level, and adequate interpretation and critical analysis skills. Evidence of a good level of understanding, knowledge and skill development in relation to the content of the course or work of a superior quality on the majority of the learning objectives of the course. Demonstration of a high level of interpretation and critical analysis skills. Evidence of a high level of achievement of the learning objectives of the course demonstrated in such areas as interpretation and critical analysis, logical argument, use of methodology and communication skills. Evidence of an exceptional level of achievement of learning objectives across the entire content of the course demonstrated in such areas as interpretation and critical analysis, logical argument, creativity, originality, use of methodology and communication skills. Context and Purpose Students should show an understanding of the essence of the assignment, the central idea(s) to be addressed and pitch the report accordingly. 5 Does not meet minimum standard Demonstrates no awareness of context and/or purpose of the assignment. 0-2.49 Meets minimum standard Demonstrates limited awareness of context and/or purpose of the assignment 2.5-3.24 Moves beyond minimum standard Demonstrates consistent awareness of context and/or purpose of the assignment. 3.25-3.74 Exceeds minimum standard Demonstrates an advanced and integrated understanding of context and/or purpose of the assignment. 3.75-4.24 Exceeds minimum standard and exhibits high levels of independence Consistently demonstrates a systematic and critical understanding of context and purpose of the assignment. 4.25-5 http://www.tua.edu.au/media/50742/a240_grading-scheme.pdf Page 4 of 7 Knowledge and understanding The students should display an understanding of monetary policy, fiscal policy, inflation targeting and macroeconomic variables such as GDP, inflation and unemployment. Search for country specific statistics and information important to obtain. 55 Limited understanding of required concepts and knowledge Key components of the assignment are not addressed. 0-27.49 Knowledge or understanding of the field or discipline. Resembles a recall or summary of key ideas. Often conflates/confuses assertion of personal opinion with information substantiated by evidence from the research/course materials. 27.5-35.74 Thorough knowledge or understanding of the field or discipline/s. Supports personal opinion and information substantiated by evidence from the research/course materials. Demonstrates a capacity to explain and apply relevant concepts. 35.75-41.24 Highly developed understanding of the field or discipline/s. Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Well demonstrated capacity to explain and apply relevant concepts. 41.25-46.74 A sophisticated understanding of the field or discipline/s. Systematically and critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Mastery of concepts and application to new situations/further learning. 46.75-55 Critical reasoning, presentation and defence of an argument and/or position It is important to be able to justify position taken. Backing up with academic literature and Specific position (perspective or argument) fails to take into account the complexities of the issue(s) or scope of the assignment. Makes assertions that are not justified. Specific position (perspective or argument) begins to take into account the issue(s) or scope of the assignment. Justifies any conclusions reached with arguments not merely assertion. Specific position (perspective or argument) takes into account the complexities of the issue(s) or scope of the assignment. Others’ points of view are acknowledged. Justifies any conclusions reached with well- Specific position (perspective or argument) is expertly presented and accurately takes into account the complexities of the issue(s) and scope of the assignment. Specific position (perspective or argument) is presented expertly, authoritatively and imaginatively, accurately taking into account the complexities of the issue(s) and scope of the assignment. Limits Page 5 of 7 other authentic references is important. Check what experts such as economists say about the countries selected. It is not about expressing personal opinions. 10