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(c) Copyright 2018. King’s Own Institute TRIMESTER 1, 2018: BUS700 ECONOMICS Paired-Assignment 1. General information Assessment Type: Critical Review – 2500 words report - Team (Pair) Research Project Purpose: To enable students to research, critically analyse and evaluate the macroeconomic performance of Australia. This assessment contributes to Learning Outcomes b, c and d. Value: 20% Word limit: 2500 Words Due Date: 11:59pm, Friday 25 May 2018, Week 10 Submission: Soft copy uploaded to Moodle and Turnitin – Word .doc or .docx Topic: Evaluation of Macroeconomic performance of Australia and USA. Task Details: Students will complete a research-based analysis and evaluation of the macroeconomic performance of Australia 1990 to 2015/16. 2. Students will follow the following procedure: (1) Obtain data on key macroeconomic indicators: real GDP growth, interest rates (Cash rate), unemployment rate, consumer price index (CPI), exchange rates, and exports and imports. (2) Discuss the relationship between Australia’s real GDP growth rate and inflation rate, and real GDP growth rate and unemployment rate. Is there evidence of the business cycle? Illustrate your discussion with summary statistics and pairwise graphs of real GDP growth rate – inflation rate, and real GDP growth rate – unemployment rate. (3) Discuss the relationship between net exports (i.e., exports minus imports) and the real exchange rates between USA and Australia. Illustrate your discussion with summary statistics and pairwise graphs of the real exchange rates and net exports growth. (4) Discuss the relationship between Australia’s Cash rates and the Federal Reserve Fund’s rates in USA. Do movements in the Federal Reserve Fund’s rates net drive movements in the Cash rates? Illustrate your discussion with summary statistics and pairwise graphs of the Cash rates and the Federal Reserve Fund’s rates. (5) Based on your summary statistics, graphs and analysis and discussion above, write a short prediction of the macroeconomic outlook of Australia. Is Australia likely to experience a recession or expansion soon? BUS700 Economics T118 Paired Assignment 2 3. Research requirements, presentation and source of data 3.1 Research requirements: Students need to support their analysis with a minimum of 10 academic journal articles plus the text. Students aiming for a Credit or higher grade will need to use more sources. Articles should be relevant and recent. Non-academic journal sources may also may be used, but relevance and validity should be clarified with the lecturer/tutor. 3.2 Presentation: Report format – 2500 words report – in Word.doc or .docx format Title page, executive summary, table of contents, appropriate headings and sub-headings, recommendations/findings/conclusions, in-text referencing and reference list (Harvard – Anglia style), attachments if relevant. Single spaced, font Times New Roman 12pt, Calibri 11pt or Arial 10pt. 3.3 Source of Data: Data may be obtained many credible sources, including: (1) abs.gov.au; (2) rba.gov.au; 3) imf.org; (4) http://databank.worldbank.org/data/reports.aspx?source= world-development-indicators 4. Other information to note 4.1 This assignment is paired-assignment and students must form a pair (2 people) for the assignment. One person or more than two-people assignment will not be accepted, unless permission is granted by lecturer for special circumstances. 4.2 Names and ID numbers of students in the group must be clearly printed on the Assignment Cover Sheet. A member, who does not contribute to the discussion and assignment, must be marked as “Not contributed” in a bracket following the student’s name and ID. 4.3 You must follow an appropriate format explained below. Not following appropriate format will cause a loss of some marks. • All analytical contents must be clearly typed and printed. Hand-written report will NOT be accepted. • Appropriate heading or sub-title of each section must be typed and used. • You must analyse, explain and show how and why you draw your conclusion. • You must also draw and include appropriate and relevant graphs and tables together in your explanation. Draw them using Microsoft Power Point/Word/Excel, NOT hand- drawn. 4.4 Plagiarism (copying the paper from other group) is a serious violation of copy right. It will be penalized and attract a VERY heavy loss of marks – “Fail”. • It is not difficult to identify the contents that are copied from other group(s). • Make sure your team member does not show your work to another group(s). Both who show the work and who copy the work will lose their marks heavily and fail in the assessment. 4.5 Only ONE COPY of the research work from each group is required to be submitted. 4.6 Make sure that the two of you in your group discuss and work together, read and check everything in the research paper before submission, once completed. Unit Outline BUS 700 Date: 12 March 2018 Term 1 2018 (T118) Marking Rubric for BUS700 Economics Assessment 3: Research Report, Paired-Assignment Criteria Fail (0-49%) Pass (50-64%) Credit (65-74%) Distinction (75-84%) High Distinction (85-100%) Knowledge and understanding of economic concepts and theories (20 marks) No and/or serious lack of understanding and evaluative knowledge of the basic economic principles, topic areas, relevant concepts and theories. Basic but not sufficient understanding and evaluative knowledge of the key economic principles, topic areas, relevant concepts and theories. Shows some potential to improve. Solid understanding and knowledge of the key economic principles, topic areas, relevant concepts and theories, with reasonable depth, some insights added and an ability to relate them to practical questions. Very good understanding and knowledge with broader awareness of the key economic principles, relevant concepts and theories related to a range of topical issues, with good economic insight and ability to relate them to a further range of practical and real world questions. Excellent understanding and knowledge with great awareness of the key economic principles, relevant concepts and theories related to a range of topical economic and para-economic issues and ability to synthesise seemingly disparate content, with extended and deeper economic insight and ability to explain various economic phenomena in the real world. Critical thinking, analysis and evaluation (20 marks) No/very limited ability to critically think (reflection, analysis, synthesis) and identify what the key issues are, how to build up logical arguments for and against, and how to evaluate economic issues and problems in question. Nothing or little supports for the analysis required. Unable to extend journal articles and/or readings beyond a summary of other’s views. Limited but reasonable effort made to think critically (reflection, analysis, synthesis) and identify key issues. Demonstrated acceptable level of arguments for and against with some substance. Basic level of presentation on different evaluation methods with application of one of them for evaluation but does not sufficiently supports for the analysis required. Partially extends journal articles and/or readings beyond a summary of other’s views. Flexible way of critical thinking (reflection, analysis, synthesis) exercised in identifying key issues. Demonstrated a fair degree of arguments for and against with expected level of substance. Above-average understanding of different evaluation methods with application and comparison of at least two of them for evaluation. Strengths and limitations of the arguments discussed to support for the analysis required. Extends journal articles and/or readings beyond a summary of other’s views. A great flexibility in critical thinking (reflection, analysis, synthesis) exercised in identifying key issues. Demonstrated own interpretation and critics in establishing arguments for and against at a considerable degree. Sufficient understanding of different evaluation methods with application and comparison of them for evaluation of more complicated issues and problems. Discussion of strengths and limitations of the arguments leading to different finding and implications. Extends journal articles and/or readings beyond a summary of other’s views. Excellent, creative and flexible way of critical thinking exercised in identifying key issues. Demonstrated a great degree of own interpretation and critics in establishing arguments for and against in a more sophisticated manner. Sufficient understanding of different evaluation methods and ability to creatively apply and compare the differences in evaluating more complicated and broader issues and problems. Discussion of strengths and limitations of the arguments leading to different finding and implications in greater details. Extends journal articles and/or readings beyond a summary of other’s views. Reading and Research (20 marks) Poor ability to incorporate theories and principles and a range of recent research and published academic writing on the topic. No analytical tools or method employed. Demonstrates average ability to incorporate theories and principles and a range of recent research and published academic writing on the topic. Basic analytical and methodological tools employed. Good ability to incorporate theories and principles and a range of recent research and published academic writing on the topic. Clear understanding of analytical and methodological tools. Clearly demonstrated solution approach using graphs, tables and quantitative method. Advanced level of ability to incorporate more detailed theories and principles and a range of recent research and published academic writing on the topic. More articulated methodological and analytical tools to apply with higher standard of solution approach substantiated with more appropriate graphs, tables and quantitative method. Outstanding ability to incorporate more detailed theories and principles and a range of recent research and published academic writing on the topic and seemingly disparate areas. More sophisticated, structured, clear and succinct analytical and methodological tools for analysis. Originality and creativity of in-depth analysis