Microsoft Word - ECON6000-Assignment2Module5-v.3.0.docx Module5-Assessment2:Shortwrittenassessment Page1of6 ASSESSMENTBRIEF SubjectCodeandTitle...

You are a macroeconomist who is asked to explain how the Australian economy is performing.


Microsoft Word - ECON6000-Assignment2Module5-v.3.0.docx Module5-Assessment2:Shortwrittenassessment Page1of6 ASSESSMENTBRIEF SubjectCodeandTitle ECON6000EconomicPrinciplesandDecisionMaking Assessment Module5-Assessment2:Shortwrittenassessment Individual/Group Individual Length NA LearningOutcomes 1. Interpret and successfully apply economic concepts of supplyanddemandforeffectiveorganisationalproblem solving. 2. Applyquantitativemethodstoforecastcomplexbusiness variablesincludingdemand,supply,productionandcosts. 3. Criticallyanalyseproductionprocessesandcostfunctions andclassifythemainformsofmarketstructuresaswellas recommendappropriatepricingandstrategies. 4. Criticallyevaluatetheroleandimpactofvariousformsof government intervention in the economy including the implications of competition and deregulation policy for managerialpractices. Submission By11:59PMAEST/AEDTFridayattheendofModule5 Weighting 20%intotalof5Modularwrittenassessments TotalMarks 20marks Context: Theshortwrittenmoduleassessmentallowsyoutoapplyyourknowledgeontheconcepts andideasdiscussedduringtheModule.Thisassessmentwillprepareyouforthefinal report. Module5-Assessment2:Shortwrittenassessment Page2of6 Instructions: Providewrittenanswerstothefollowing2problems.Discussandexplainsufficiently. ProblemA: TheBoardofSchmecktGutwasinterestedinthedemandforourenergybarsinAtollia.Therefore, theBoardinstructedtheResearchDepartmentofSchmecktGuttoconductasurveyinAtollia.The resultsofthesurveyareprovidedinTable1. Table1–SurveyresultsforAtollia Annualaverage demandofenergy barsperperson Averageincomeper person Tariffrateonimports ofenergybars Numberofstores whereenergybarsare offered 106 15500 5 15 90 15810 5 15 93 16395 5 15 92 16887 5 15 91 17495 5 15 110 18282 5 16 109 19013 5 16 122 19508 5 16 82 19898 10 16 84 20276 10 16 102 20702 10 17 92 21550 10 17 115 22197 10 20 112 22330 10 20 109 22754 10 20 148 23619 7.5 20 143 23855 7.5 20 139 24452 7.5 20 158 24941 7.5 23 142 25514 7.5 23 158 25948 7.5 23 1. UsingtheresultsofthesurveyprovidedbytheResearchDepartment,seeTable1,theBoard wouldlikeyoutoinvestigatethedemandforourenergybarsinAtolliainmoredetail.More specificallytheBoardisinterestedwhattheimpactofofferingourproductsatanotherstore mighthaveonthedemand. HintA: YoushouldmakeuseofMicrosoftExceltoolsdiscussedintheModuleEnd LearningActivitiesofModules1to3. HintB: Youshouldrunalinearregressionanalysistoinvestigatethepotentialimpact ofofferingourproductatanotherstore. Module5-Assessment2:Shortwrittenassessment Page3of6 ProblemB: ThemembersoftheBoardofSchmecktGutarescheduledtomeetwiththeTradeMinisterof Industria.TheBoardisinterestedinconvincingtheGovernmentofIndustriatoestablishcloser economiclinkswithAtollia. 1. BasedontheregressionresultsthatyouhaveestimatedaspartofProblemA,whatcanwe telltheTradeMinisterabouttheimpactofthetariff? 2. UseanapplicablediagramdiscussedinModule4toexplaintheimpactofthetariffonour energybars. ProblemC: TheBoardofSchmecktGutwantstoconvincetheGovernmentofIndustriathataFreeTrade AgreementwithAtolliawouldbebeneficialforIndustria’seconomy. 1. DevelopabrieffortheBoardonthebenefitsofFreeTradeforbothcountriesandindustria inparticular.Incorporatetheresultsofyourregressionanalysisandusetheoryandgraphical support. Module5-Assessment2:Shortwrittenassessment Page4of6 LearningRubrics Assessment Attributes Fail 0-49 (Unacceptable) Pass 50-65 (Functional) Credit 66-75 (Proficient) Distinction 76-85 (Advanced) HighDistinction 86-100 (Exceptional) GradeDescription (GradingScheme) Evidenceofunsatisfactory achievementofoneormore ofthelearningobjectivesof thecourse,insufficient understandingofthecourse contentand/orunsatisfactory levelofskilldevelopment. Evidenceofsatisfactory achievementofcourselearning objectives,thedevelopmentof relevantskillstoacompetent level,andadequate interpretationandcritical analysisskills. Evidenceofagoodlevelof understanding,knowledge andskilldevelopmentin relationtothecontentofthe courseorworkofasuperior qualityonthemajorityofthe learningobjectivesofthe course.Demonstrationofa highlevelofinterpretation andcriticalanalysisskills. Evidenceofahighlevelof achievementofthe learningobjectivesofthe coursedemonstratedin suchareasas interpretationandcritical analysis,logical argument,useof methodologyand communicationskills. Evidenceofan exceptionallevelof achievementoflearning objectivesacrossthe entirecontentofthe coursedemonstratedin suchareasas interpretationand criticalanalysis,logical argument,creativity, originality,useof methodologyand communicationskills. Knowledgeand Understandingof economicconcepts ofsupplyand demand 25% Limitedunderstandingof requiredconceptsand knowledge Keycomponentsofthe assignmentarenot addressed. Knowledgeorunderstandingof thefieldordiscipline. Resemblesarecallorsummary ofkeyideas. Oftenconflates/confuses assertionofpersonalopinion withinformationsubstantiated byevidencefromthe research/coursematerials. Thoroughknowledgeor understandingofthefieldor discipline/s.Supports personalopinionand informationsubstantiatedby evidencefromthe research/coursematerials. Demonstratesacapacityto explainandapplyrelevant concepts. Highlydeveloped understandingofthefield ordiscipline/s. Discriminatesbetween assertionofpersonal opinionandinformation substantiatedbyrobust evidencefromthe research/course materialsandextended reading. Welldemonstrated capacitytoexplainand applyrelevantconcepts. Asophisticated understandingofthe fieldordiscipline/s. Systematicallyand criticallydiscriminates betweenassertionof personalopinionand information substantiatedbyrobust evidencefromthe research/course materialsandextended reading. Masteryofconcepts andapplicationtonew Module5-Assessment2:Shortwrittenassessment Page5of6 situations/further learning. Criticalreasoning, presentationand defenceofan argumentand/or positionincontextof organisational problemsolving 25% Specificposition(perspective orargument)failstotakeinto accountthecomplexitiesof theissue(s)orscopeofthe assignment. Makesassertionsthatarenot justified. Specificposition(perspectiveor argument)beginstotakeinto accounttheissue(s)orscopeof theassignment. Justifiesanyconclusions reachedwithargumentsnot merelyassertion. Specificposition(perspective orargument)takesinto accountthecomplexitiesof theissue(s)orscopeofthe assignment.Others’pointsof viewareacknowledged. Justifiesanyconclusions reachedwithwell-formed argumentsnotmerely assertion. Specificposition (perspectiveor argument)isexpertly presentedandaccurately takesintoaccountthe complexitiesofthe issue(s)andscopeofthe assignment. Justifiesanyconclusions reachedwithwell- developedarguments. Specificposition (perspectiveor argument)ispresented expertly,authoritatively andimaginatively, accuratelytakinginto accountthe complexitiesofthe issue(s)andscopeof theassignment.Limits ofpositionare acknowledged. Justifiesanyconclusions reachedwith sophisticated arguments. Analysisand applicationwith synthesisofnew knowledgerelated toeconomic conceptsofsupply anddemand 30% Limitedsynthesisand analysis. Limited application/recommendations baseduponanalysis. Demonstratedanalysisand synthesisofnewknowledge withapplication. Showstheabilitytointerpret relevantinformationand literature. Well-developedanalysisand synthesiswithapplicationof recommendationslinkedto analysis/synthesis. Thoroughlydeveloped andcreativeanalysisand synthesiswithapplication ofpretestedmodelsand/ orindependently developedmodelsand justified recommendationslinked toanalysis/synthesis Highlysophisticated andcreativeanalysis, synthesisofnewwith existingknowledge. Strongapplicationby wayofpretested modelsand/or independently developedmodels. Recommendationsare clearlyjustifiedbased onthe analysis/synthesis. Module5-Assessment2:Shortwrittenassessment Page6of6 Applyingknowledgeto newsituations/other cases. Content,Audience andPurpose 20% Demonstratesnoawareness ofcontextand/orpurposeof theassignment. Demonstrateslimited awarenessofcontextand/or purposeoftheassignment Demonstratesconsistent awarenessofcontextand/or purposeoftheassignment. Demonstratesan advancedandintegrated understandingofcontext and/orpurposeofthe assignment. Consistently demonstratesa systematicandcritical understandingof contextandpurposeof theassignment.