Author: Splendid Writings

This assignment is designed to allow you to develop a deeper understanding of knowledge and frameworks covered in the course. With this assessment, you need to meet the academic requirements expected at the Masters level – research rigour, evidence of extensive reading, systematic analysis and academic writing. For this assessment, you must use at least two sources from the assigned reading from the course and eight additional quality scholarly references to inform your key ideas. Please note, at least five academic references must be included from sources published after December 2018.

Assignment Topic:

Globalisation has, so far, generated significant Economic Growth globally and improved human rights while contributing to economic inequality and environmental decay. The government has been in a precarious situation to deliver its responsibilities while grappling with the prioritisation of its activities and maintaining a balance between the interests of the people and those of its corporate citizens. Drawing evidence from your home country, or a country in which you have worked or study at,

Please respond to the following questions:

1. How has the impact of globalisation been on the country of your choice in terms of economic development, industrialisation and export growth?
2. How has the ‘Triple Bottom line’ ofSustainable Development been affected by the advent of globalisation?
3. How should businesses in your chosen country respond to growing risks and uncertainties in the current global business environment?

Suggested structure of the essay:

• Title page (title of your report, your name, student number and word count)
• Executive Summary (Maximum 150 words): An executive summary is a concise

description of what the report contains. It should include major findings and significance of the essay. A good executive summary should allow the reader to

understand the basic content of the report without reading the report.

• Introduction: A good introduction should clearly outline the purpose and scope of the essay.
• Body: The body should be split into sub-sections. It could be based on the three questions as above. The precise breakdown of sub-sections is a decision for the

individual student and will depend on your key arguments.

• Conclusion
• Reference List Note: Title page, executive summary and reference list are excluded from the word count.

PS.(excluding title page, executive summary and references, 10% more or less is allowed)

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You will complete the answers at the each of each module; You may submit the answers for both the modules together as a single word document.
Module 1: (Each question is worth 5 marks; answer both the questions)
1) For an individual who earns $250 per week, cheaper food options could be noodles. However, suppose the same individual gets a better employment and his income increases, will the demand for noodles still be the same; explain the relevant concepts with appropriate diagram(s).
2) What is Production Possibility frontier (PPF) ?; what are the concepts that are covered by PPF?; use the table below to represent PPF diagrammatically and explain your diagram. Module 2: (each question is worth 5 marks; answer both the questions)

1) Given the Total Revenue (TR) for a certain firm is A$150,000, calculate Accounting profit and economic profit by stating the formula for both the calculations. Is the firm is financially sound? Substantiate your answer

2) The Roads and Maritime Services (RMS) here in New South Wales insists that vehicles which are over 7 years old should be taken for an inspection before renewal of registration for the next year. This is mainly to ensure the vehicle is road worthy. Analyze the type of externality behind this example using relevant diagrams to support your argumen

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I have provided the template for assignment below, its basically the policy brief assignment for my macro economics class. i have done the part A but need help with the part B. if u can
Write an executive summary of the policy brief. Your core message should consist of three sentences.
The first one provides a summary of the scenario and what you found in Part A. The second sentence summarizes the key rationale for your recommendation. The final sentence summarizes your policy recommendation. Maximum length of 5 lines.

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Assessment item 5 back to top Assignment 5: Problem Essay Question Value: 10% Due Date: 23-Sep-2019 Return Date: 17-Oct-2019 Length: Approx 2,000 words. Submission method options: Alternative submission method Task back to top Assignment 5 consists of one problem essay question worth 10 marks. Before attempting this assignment you are expected to have read Text chapters 13, 14 and 15. You are encouraged to make use of additional sources. Sources used in your answer should be fully referenced in APA 6th style. Answer the following question ensuring that you apply economic principles or theory related to understanding the health of the economy and the need for government intervention to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answer with diagrams and examples as necessary. Question (10 marks) Drawing on your knowledge of the theory of aggregate demand and aggregate supply – supplemented by appropriate media reports – explain the impact of a fall in the rate of growth of the Chinese economy on macroeconomic conditions in Australia. Rationale back to top Subject learning outcomes This assessment task will assess the following learning outcome/s: be able to critically examine and demonstrate why it might be necessary for government to intervene in the production of goods and services and in the distribution of income be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives. This assignment will give you practice in preparing an answer to a question which is similar to the type of questions you are likely to be asked in the examination. Graduate learning outcomes This task also contributes to the assessment of the following CSU Graduate Learning Outcome/s: Global Citizenship (Knowledge) – CSU Graduates understand the impact of culture and global issues on professional practice. Marking criteria and standards back to top Criteria HD (85%) DI (75-84%) CR (65-74%) PS (50-64%) FL (0<50%) Academic writing clearly communicates meaning (10% weighting). Language features and structures are used to convey meaning effectively, clearly, concisely, unambiguously, and in a tone appropriate to the audience and purpose with no spelling, grammatical, or punctuation errors. Language features and structures are used to convey meaning effectively, clearly, unambiguously, and in a tone appropriate to the audience and purpose with few spelling, grammatical, or punctuation errors. The text contains some errors in spelling, grammar, word choice, and structure, lacks clarity occasionally, and may not be concise, but the meaning is apparent to the reader with little effort. The text contains some errors in spelling, grammar, word choice, and structure, lacks clarity occasionally, and may not be concise, but the meaning is apparent to the reader with little effort. Fails to meet criteria for a pass. Academic writing includes APA 6th referencing (10% weighting). Referencing is comprehensive, demonstrates academic integrity, and conforms exactly to APA style conventions. Referencing is comprehensive, demonstrates academic integrity, and conforms to APA style conventions with fewer than three minor errors or omissions which don’t impact on the transparency and traceability of the source or the demonstration of academic integrity. Referencing is comprehensive and mostly accurate according to APA style conventions. Up to eight minor errors or omissions in style and formatting choices (e.g. italics, punctuation, underlining) don’t impact on the transparency and traceability of the source, or the demonstration of academic integrity. Referencing is comprehensive and mostly accurate according to APA style conventions. Frequent minor errors or omissions in style and formatting choices (e.g. italics, punctuation, underlining) don’t impact on the transparency and traceability of the source, or the demonstration of academic integrity. Fails to meet criteria for a pass. Analyses the production of goods and services in aggregate and the requirement for macroeconomic stability to identify the conditions under which government intervention in production and income distribution is recommended. (60% weighting). The answer synthesises the theory in relation to the analysis of macroeconomic stability with new insights providing an in-depth application of the theory of government macroeconomic intervention along with clearly labelled relevant diagrams to produce a comprehensive analysis that is used as the basis for identifying the correct government policy decisions within the context of specific macroeconomic circumstances. The answer evaluates the theory in relation to the analysis of macroeconomic stability and recognises that movements away from equilibrium may require government intervention. Decisions based on analysis correctly reflect the options available given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams. The answer correctly interprets the theory in relation to the analysis of macroeconomic stability and recognises that movements away from equilibrium may require government intervention. Decisions with respect to government intervention based on analysis correctly reflect the options available under the conditions specified. However, some errors have been found in the narrative or use of diagrams. The answer identifies the most important elements of theory for the analysis of macroeconomic stability and recognises that movements away from equilibrium may require government intervention. Decisions with respect to government intervention based on analysis correctly reflect the options available under the conditions specified Limited explanation and poor use of diagrams provides marginal support for the conclusions drawn. Fails to meet criteria for a pass. Provision of examples to support, illustrate or elaborate the application of the economic principles or theory to macroeconomic conditions prevailing in Australia and to macroeconomic policy decisions (20% weighting). The answer provides an example or examples which support the synthesis of the theory in relation to macroeconomic stability and the intervention of government to impact on production and the distribution of income with new insights to support the analyse of the question and/or the decisions based on this analysis. The narrative makes a strong link between the example(s), existing theory and new insights and the application of each to policy. The answer provides an example or examples which support the evaluation of the theory in relation to macroeconomic stability and the intervention of government to impact on production and the distribution of income and/or the decisions based on this analysis. The narrative makes a strong link between the example(s) and theory and their application to policy. The answer provides an example or examples which support the interpretation of the theory in relation to macroeconomic stability and the intervention of government to impact on production and the distribution of income to support the analysis the question and/or the decisions based on this analysis. The narrative makes the link between the example(s) and theory and their application to policy with only minor lapses in logic. The answer provides an example or examples which exhibit the most important elements of theory in relation to macroeconomic stability and the intervention of government to impact on production and the distribution of income to support the analysis of the question and/or the decisions based on this analysis. However the narrative does not make a convincing link between the example(s) and theory and subsequent application to policy. Fails to meet criteria for a pass. Presentation back to top Answers should be typed and diagrams must be clear and neat and preferably drawn electronically. Hand-drawn diagrams are acceptable. Sources used in your answer shou
ld be fully referenced in APA 6th style. The answer to the question should be divided into three parts: Part 1: Introduction The introduction sets up your response by succinctly stating your understanding of the issues, what you think is the best way to analyse the situation – including choice of theory and sources of evidence, what type of findings you expect and what potential applications you expect there to be. Part 2: Analysis The analysis will represent the bulk of your work. Here you will provide your answer in detail by drawing upon the literature, the theory and the evidence to come up with an answer to the question posed. You may find that you want to break this section up into a number of sub-parts – one for a detailed discussion of the issues including your non-technical response, one for a detailed analysis of the tools of analysis you will use (theory), one for your extensive consideration of the evidence, one where you draw together your information and findings along with their implications. Part 3: Conclusion In the conclusion you briefly and succinctly review what you have done in answer to the question and indicate what further issues there might be to be considered. Requirements back to top Sources used in your answer should be fully referenced in APA 6th style. Assignments must be submitted through Turnitin.

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Question 1  (4 marks)
Severe drought conditions in Australia contributed to very low levels of wool production, due to the shortage of animal feed. This low production drove up prices sharply in Australian wool markets. The price of raw cotton also increased significantly at that time, for the first time in many years.
Illustrate this observation with one demand and supply graph for the market for Australian wool and another demand and supply graph for raw cotton. Make sure that your graphs clearly show (i) the initial equilibrium before the decrease in the supply of Australian wool and (ii) the final equilibrium. Use arrows to indicate any shifts in the demand and supply curves for each market. Label your graphs fully and write an explanation of your work.

Question 2  (8 marks)
1) Discuss if Internet booking for airlines tickets has made the demand for Qantas flights more elastic or inelastic. (4 marks)
2) How can Qantas make the demand for its services more inelastic so that it can charge a higher price without worrying about losing sales (4 marks)?

Question 3  (8 marks)
1) What is the difference between diminishing returns and returns to scale? (4 marks)
2) Using a product of your choosing, identify the main fixed and variable costs of production.(4 marks)

Essay question (references needed)
Question 4  (20 marks)
Read the following article ‘Drought and low milk prices push dairy farmers to the brink’ published in ‘The Guardian’ on 23 February 2019 https://www.theguardian.com/food/2019/feb/24/drought-and-low-milk-prices-push-dairy-farmers-to-the-brink.
In this question, you are required to write an essay to discuss the low milk price issue. Your essay should centre around the following questions, and clearly address each of them.
1) Explain why the milk market is likely to be a perfectly Competitive Market and that a single farmer is not able to affect the market price.
2) Explain why a milk farmer still chooses to hang around and not to leave the industry in the short run even though he or she is suffering a loss.
3) Use graph(s) to explain that in the long run, the exit of some milk famers will lead to a rise in milk price.
4) Discuss the demand elasticity of milk. Can a consumer substantially increase his or her milk consumption when the price becomes lower?
5) Discuss possible measures or policies that can be used to help Australian milk farmers. Make sure that you comment on the price floor policy.
 

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Each student is required to choose a public policy area of his/her own interest relevant to the economy and businesses. Write an essay identifying the chosen subject, explaining the rationale for the choice (how you get interested in the subject, what and why do you want to know more about the subject, and how you plan to explore further into the subject throughout the term in order to be better informed about the subject at the end of the term. The essay should be at least 800 words in length and is due at the beginning of the third class of the term on September 23, 2019. You are required to hand in a hard copy as well as an electronic copy to Professor Yan.The essay is worth 15% in total – 3% for the selected subject, 7% for the explanation of the rationale and 5% for the plan for further exploration into the subject.

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Conduct a concise case study on Brazil. Briefly identify any two long-run as well as any two short-run institutions in your chosen country and discuss how these institutions affect current economic outcomes. Lastly, on the bases of your findings, make one or two policy recommendations aimed at improving (or maintaining) your identified economic outcomes with specific reference to short-run and long-run institutions. Remember, you can choose any long-run- and short-run institutions as long as you motivate your choices with evidence and sound reasoning. How to go about it: Find information and data (if possible) on the strength and quality of institutions and compare it to macro-economic outcomes in your chosen country. Do this within the context of both long-run and short-run institutions. Your chosen economic outcomes can be positive or negative (i.e. low inflation, high unemployment, non-independent monetary policy, etc.). Other instructions: We recommend the following basic structure to your essay: 1) Introduction; 2) Brief contextualization of chosen country; 3) Data and evidence in support of the link between relevant institutions and the chosen economic outcomes; 4) Policy recommendations; 5) Conclusion

 

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For this Assignment, you may use a Fortune 500 Company that you have already researched. The focus here is on both domestic (American) and global operations. The Assignment incorporates how the firm functions in different parts of the world and what it can do to maximize its effectiveness as a global organization.
Course Outcomes practiced and assessed in this Assignment:GB540-4: Integrate concepts of regional, national, and global economic behavior with macroeconomic theory.
PC-4.1: Assess the value of multiculturalism and diversity in a global environment. Directions
Begin by reviewing the following websites as resources for your Assignment:
Organization for Economic Co-operation and Development (OECD). (2017). Economic indicators.
Retrieved from http://www.oecd.org/std/oecdmaineconomicindicatorsmei.htm
U.S. Department of Commerce. (n.d.). Key economic indicators. Retrieved from
U.S. Bureau of Labor Statistics. (n.d.). Major economic indicators. Retrieved from
Select 6–10 macroeconomic indicators that are of particular relevance to your firm and explain how they affect the performance of the company. You need to include the data of the key indicators in the form of tables and/or graphs.
Outline strategies on how the firm should respond to the changes in the economic indicators with the goal of maximizing revenues in the years ahead.
How have they done in the past?What is their current state?What kinds of plans and possibilities do they have for the future?Is there room for improving what they do?Should new ventures be added or old ones subtracted?
Then, discuss the firm’s global operations, and their influences on the regional and national levels.
You also need to assess the value of multiculturalism and diversity in operating (managing) a company in a global environment.
Unit 6 [GB540: Economics for Global Decision Makers]
As you can see, the field is wide open for you to construct your paper in the most relevant way you see fit.

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Task
Respond (discuss/analyse/evaluate/interpret/conclude where relevant or as directed) to the following Short Answer/Problem/Case Studies questions.
Question 1
(i). Based on your understanding of “Quantitative Demand Analysis”, write-down a hypothetical demand function and:
(a). Explain why you picked the particular explanatory variables that appear in the function. Also explain why you have given the particular sign (+ or -) in front of each coefficient in the function, (that is the rationale for + or – sign)
(b). What are the demand elasticities that you can discuss using your hypothetical model, and how do you identify a normal/inferior good;  and a substitute/complement using the signs of the particular elasticity coefficient?
(ii).  The largest electricity provider in the state has two main electricity generating facilities to provide demand for electricity in the state. The demand for electricity in the state is given by the following inverse demand function:
P = 1,200 – 4Q
The provider produces Q₁ kilowatts from facility 1, and Q₂ kilowatts from facility 2,
so the total production is Q = Q₁ + Q₂
The cost functions for the two facilities are given by:
C₁(Q₁) = 8,000 + 6Q₁²  and
C₂(Q₂) = 6,000 + 3Q₂²
Determine:
(a).  The profit maximising amounts of electricity to produce at the two facilities.
(b).  Optimal price; and
(c).  Optimal quantity

Question 2                       
Arid Water is a privately owned company that is the sole supplier of water to a rural town in Remote Country. The owner of the firm has provided the manager of the company an incentive to maximize the firm’s profits, and the manager is currently selling 100,000 litres of water per week at a price of $0.05 per litre. The marginal cost of water is zero, but the firm’s average cost of this level of output is $0.01 per litre
(a). Determine Arid Water’s profits. [2 marks]
(b). Now suppose that the local government imposes a price ceiling on water at a price of $0.01 per litre.Will the firm earn economic profits of zero as a result of this price ceiling? Explain. [2 marks]
(c). Does the price ceiling of $0.01 per litre result in a shortage of water in Arid’s service area
Question  3                                 
You are an industry analyst who specialises in an industry where the market inverse demand function is: P = 200 – 4Q.
The external marginal cost of producing the product is: MC_External = 6Q, and the internal cost is:    MC_Internal = 12Q.
(a). What is the socially efficient level of output?
(b). Given these costs and market demand, how much output would a competitive industry produce?
(c). Given these costs and market demand, how much output would a monopolist produce?
(d). Discuss actions the government might take to induce firms in the industry to produce the socially efficient level of output?
Question 4   
(i). Explain the concepts of Economies of Scale, and Diminishing Marginal Rate of Technical Substitution.
(ii).  You are the manager of a firm that sells output at a price of $40 per unit. You are interested in hiring a new worker who will increase your firm’s output by 2,000 units per year. Several other firms also are interested in hiring this worker.
a. What is the highest annual salary you should be willing to pay this worker to come to your firm?

1. What will determine whether or not you actually have to offer this much to the worker to induce him to join your firm?

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Students select a real-world case study based on their own industry or workplace context, and submit a 2250-word report on an appropriate aspect of business economics. The assessment task is intended to simulate the composition of a formal report to senior management concerning a strategic initiative.
Following the problem solving and decision making approach solve the following issues relevant to the selected workplace industry and incorporate the following:

1. Does the company make decisions based on depreciation or overhead? If so, does this lead to bad decisions? What can be done to fix the problem? What was the profit consequences of the change

 

1. Describe an extant decision made by the company. Discuss the marginal cost and marginal benefit of the decision. Was the right decision reached? If not, what should be done differently? What was the profit consequences of the change?

 

1. Describe an investment decision the company has made. Discuss the opportunity costs and benefits of the decision. Did your company make the right decision? If not, what would you do differently? What was the NPV of the investment?

Students are expected to demonstrate a sound theoretical and practical understanding of managerial economics in their analysis and discussions, as well as an awareness of the moral, ethical, and cultural aspects economics decision-making.

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