ECONOMICS
ECONOMICS
Assignment description and purpose
You will complete a Research Essay mainly related to knowledge and skills from weeks 7 to 12: Circular Flow of Income Models, Gross Domestic Product, Aggregate Demand and Aggregate Supply, Unemployment and Inflation, and Fiscal Policy and Monetary Policy. You will also draw upon knowledge from weeks 1 to 6, where relevant.
Your research MUST focus on the Australian economy, and should include:
-
Quantitative data such as:
-
Current and recent data (past 3 years) for the key economic indicators of Real Gross Domestic Product, the inflation rate and the unemployment rate.
-
Recent and historical trends (up to 10 years) in Real Gross Domestic Product, the inflation rate and the unemployment rate.
-
-
Qualitative news pieces, no older than 6 months, such as:
-
Articles on the current state of the Australian economy. o Articles on the forecast for Australia’s economy.
-
Articles providing background or in-depth commentary on Australian economic conditions.
-
You will conduct research and use economic theory to draw conclusions and make assumptions about these key research areas. The aim of collecting this information is to enable you to construct a factual argument to support or refute the essay topic.
The purpose of this assessment task is to enable you to demonstrate understanding of the economic theories and concepts covered in class and apply them to the Australian economy.
Intended audience
You should write your essay as though you are explaining economic concepts to a group of fellow students who do not know anything about economics. You should ensure the language used is appropriate for a “workplace” setting and that you have not used abbreviations or slang. You should ensure all economic theories and concepts are fully explained and explicitly related to the essay topic. Where diagrams are used, you should ensure they are neat and fully labelled.
DETAILED ASSIGNMENT
