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January 6, 2020December 7, 2020

Autonomous consumption

Part (1)
Calculate the level of autonomous consumption when the level of income equals $520,240 million (solve to one decimal point).
Part (2)
Calculate the level of total savings when the level of income equals $520,240 million (solve to one decimal point).
Part (3)
Calculate the level of actual investment when income is equal to $520,240 million and the unintended inventory investment (solve to one decimal point).
Part (4)
Calculate autonomous imports when income is equal to $520,240 million (solve to one decimal point).
Part (5)
Calculate autonomous net exports (solve to one decimal points).
Part (6)
Calculate autonomous planned expenditure (solve to one decimal point).
Part (7)
Is this economy in equilibrium when income equals $520,240 million? If not, what is the equilibrium level of income for this economy? (solve to one decimal point).
Part (8)
Calculate the marginal leakage rate (solve to one decimal point).
In your own words, briefly explain what the marginal leakage rate symbolises for the economy. (60-word limit)
Part (9)
Calculate the expenditure and tax multipliers for the economy (solve to two decimal points).
Section B
Assume that your economy is now operating at the equilibrium level in the short-run as calculated in part (7).
Part (10)
Illustrate the GDP gap using the AD-AS Model and the AE Model, if the natural level of income is estimated as $460,000 million.
Part (11)
If the government wants to close the existing GDP gap, calculate the change in spending (specify whether an increase or decrease) that would have to be undertaken. (solve to one decimal point).
Part (12)
Briefly discuss the consequences for the economy of the above policy action if the “crowding-out” effect is present in this economy. How will the multiplier process be affected? (100-word limit)
Part (13)
Assume the central bank decides to move and close the GDP gap instead of fiscal policy.
In what direction will interest rates have to move to close the GDP gap and what type of open market operation will the central bank undertake?

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January 6, 2020December 6, 2020

ECON1086 Merge data

Understand how to merge data from various sources, undertake policy analysis, and generate policy briefs. This assessment is linked to the following Course Learning Objectives (CLOs): Manipulate economic models to analyse real world issues in international trade. Analyse the fundamental determinants of the size and pattern of trade to verify its determinants and its effects on the wider economy/welfare. Compare and contrast economic and political conditions in poor and rich countries to critically assess the incentives and consequences of trade liberalisation globally. Assess the impact of protectionist policies on the welfare in rich and poor countries to decrypt the political economy of trade reform. Assessment Declaration: I declare that in submitting all work for this assessment I have read, understood and agree to the content and expectations of the Assessment declaration (Links to an external site.). Details: Instructions for submission: Click on Submit Assignment. Click on Choose File. Once you selected your file containing your assignment, click on Submit Assignment at the bottom. To answer the assignment questions first get the data follow these steps. This assignment requires you to obtain data from two (2) countries of your choosing over the period 1985-2005. Obtain country-level data on trade (% GDP) and GDP per capita (constant 2010 US$) from the World Bank’s World Development Indicators (http://databank.worldbank.org/data/source/world-development-indicators (Links to an external site.)). Obtain data on industrial pay inequality difference from UTIP-UNIDO (http://utip.gov.utexas.edu/data.html (Links to an external site.)). Merge the data using Excel. It is up to you to figure out how to do this! The data does not need to be for the same countries as in Assignment 1. It is up to you what countries you use. DO NOT attach Excel files to the assignment. Keep explanations brief. Policy analysis in applied economics has to be brief. Be precise and to the point, avoid jargon. Assignment 2 (25% of your final grade) QUESTIONS: *** Follow the instructions above on how to get the data. *** See Chapter 6 and/or Lecture 6 notes for references. 1. Using data from two countries, plot openness versus Industrial Pay Inequality (from UTIP-UNIDO) for each nation. Use two graphs, one for each country. IT’S UP TO YOU TO FIGURE OUT HOW TO DO THIS. (8 marks) 2. Using data from the two countries, calculate the correlation (using excel) between openness and Industrial Pay Inequality (from UTIP-UNIDO) for each nation, respectively. Report and interpret this relationship in approximately 300 words. [Hint: The Theil Index is used as a proxy for the ratio of skilled to unskilled wages in empirical studies]. DO NOT ATTACH YOUR DATA TO THE ASSIGNMENT. (7 marks) 3. Explain carefully in approximately 500 words whether your data agrees or disagrees with the Stolper-Samuelson Theorem. (Remember to accurately define the theorem and discuss how it applies to your countries). (10 marks).

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January 6, 2020December 6, 2020

SCI200 Environmental Policy

Assignment 2: Environmental Policy Due Week 10 and worth 180 points There are several environmental laws, regulations, and policies that currently influence your life, and they include the following: NEPA The Clean Air Act The Clean Water Act The Endangered Species Act The Superfund CITES The Montreal Protocol The Basel Convention Choose one of these environmental regulations, or another policy that interests you; then, research your chosen regulation or policy’s requirements and environmental and economic impacts. Remember that the Strayer Library is a good place to start. http://research.strayer.edu Write a 3–5-page paper in which you do the following: Describe three key elements of the regulation or policy you chose. Specifically, discuss who is affected and what actions they are required to undertake, including federal and state agencies and specific industries, and how these requirements are enforced. Assess three effects this regulation or policy had on our environment. Next, quantify its effects, if possible, to analyze whether or not the regulation had the desired effect on the environment. Discuss three economic effects of your chosen policy or regulation. Next, describe the direct costs of implementation, as well as the effect the regulation has had on Economic Growth

If possible, find a benefits/cost analysis that will provide you with objective analyses of this regulation’s economic impact. Speculate whether or not you believe that this policy or regulation has been successful overall. Next, debate whether or not your chosen policy or regulation has promoted environmental benefits or outweighed its economic costs. Lastly, determine whether you would recommend renewing this policy or regulation when it comes to its expiration date, or whether you should let the policy or regulation expire. Justify your response. Use at least three quality resources/references in this assignment, in addition to the course text. Note: Wikipedia and personal blogs do not qualify as quality resources. Your assignment must follow these formatting requirements: This course requires the use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details. Be typed, double-spaced, using Times New Roman font (size 12), with 1-inch margins on all sides; citations and references must follow SWS format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, your name, your professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are as follows: Analyze the negative and positive impacts of human interaction with?a?specified ecosystem. Determine the?fundamental principles of?ecosystems?and ecology. Assess?the impact and effectiveness of?environmental?conservation methods?and policy?.?

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January 6, 2020December 6, 2020

Money Market interest rates

Q1. Decision:
“At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.00 per cent.”
Using the Statistical Tables on the RBA website, find data on monthly Money Market
interest rates. (In Column B of the relevant spreadsheet you’ll find data on the Cash Rate
Target: monthly average, starting from August 1990 to July 2019).
Use this data to construct a graph of the monthly cash rate from August 1994 to July 2016.
Use the graphing tool (line charts) in Excel. Describe the trend in the cash rate. How many
interest rate changes have there been in this period?
[3 Marks]
Q2. Claim about economic indicators in advanced economies:
“In most advanced economies, inflation remains subdued, unemployment rates are low … .”
a) Collect and present (in line-graph format), annual data for the period from 2009 to 2018,
showing the inflation rate, unemployment rate, and real GDP growth rate for Australia, the
United States and Japan. The required data can be found in the World Bank website:
https://databank.worldbank.org/source/world-development-indicators .
Using the graphing tool in Excel, present, for each country, a line graph containing all three
economic indicators. [The first graph will contain the three indicators for Australia. Likewise,
the second line graph will show these for the USA, and the third line graph for Japan]. For
each graph you create, make sure you label each axis, give the graph a title, and reference
the source of the data underneath the graph.
Page 3 of 5
[Note: Please do not attach the excel file with your assignment. You don’t need to report
numerical data, just need to present the line graphs. Please use copy/paste functions to
transfer your plots to your assignment document].
[5 Marks]
b) What general trends do you observe in the three indicators for each country? Do the trends
in inflation and unemployment confirm the RBA’s observations? Comment on the
relationship between inflation, unemployment and real GDP growth based on the data you
observe. [6 Marks]
Q3. Implications of slower Asian Growth for Australian economy:
“The slowdown in global trade has contributed to slower growth in Asia…”
Why might the RBA be worried about the slower growth in Asia, especially, in China? Explain
your answer using an Aggregate Expenditure — 450
line diagram.
(You don’t need to use any real world data to answer this question).
[4 Marks]
Q4. Claim about the effect of the interest rate cut.
“Over the year to the March quarter, the Australian economy grew at a below-trend
1.8 per cent”. … “Today’s decision to lower the cash rate will help make further inroads into the
spare capacity in the economy.”
Given the above statement, use an Aggregate Expenditure —450
line diagram to show the
possible situation in Australia and to explain how the lowering of the cash rate may (or may
not) help the Australian economy move towards full employment.
(Again you don’t need to use any real world data to answer this question).
[5 Marks]

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January 6, 2020December 7, 2020

Solow growth model

Using the Solow growth model, consider the macroeconomic impact of a large earthquake in New Zealand that damages or destroys a significant amount of the nation’s physical capital stock. In doing so, carefully explain how the Solow growth model can be used to predict the short- and long-run macroeconomic impacts of the earthquake on Economic Growth

and the standard of living. Write up your analysis as a report, clearly describing the relevant economic theory employed and the conclusions obtained. In doing so, set the model up and describe the initial steady state then use the model to explain what might happen to the New Zealand economy following the earthquake. Reflect on the macroeconomic policy options and the likely effects from them. Provide an overall critical assessment of the value of the Solow growth model as a means of understanding the macroeconomic implications resulting from an earthquake.

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January 6, 2020December 6, 2020

Background Global trade

Background Global trade is not a new phenomenon, and we have been trading across borders since antiquity. According to modern economic theory it is mutually beneficial for countries to specialise in producing those products in which they have a comparative advantage, and to import those products for which they do not. Historically, the volume of world merchandise trade has tended to grow between 1.5 times to twice as fast as world GDP. But since 2012, trade has only been growing at a rate equal to or below that of GDP. In 2016, 20 of the world’s largest shipping companies sold $120 billion (volume), compared to $200 billion in 2012. After decades of increasing trade liberalism, various factors have recently influenced the seeming decline of global trade, notably the brewing US-China trade war, Brexit and other forms of protectionism. U.S. President Donald Trump went on the trade warpath in 2018. The showdown was designed to punish countries – notably China – that he said engaged in unfair trade practices, such as disrespecting intellectual property rights, subsidising industries and underpaying workers. His tariffs, and retaliatory duties imposed on U.S. goods by other nations, shook the world economy and caused companies to reconfigure supply chains. In the United States, the trade war has alarmed business leaders, who largely support existing trade deals. Some business groups have argued that Trump’s metal tariffs and retaliatory duties that came in response have hurt U.S. industry, farmers and workers. However, U.S. Economic Growth

has remained buoyant, with economists partly crediting Trump’s tax cuts for these developments. On the other side of the Atlantic, British Prime Minister Theresa May is battling to keep her Brexit deal alive, barely a month before Britain’s scheduled March 29 exit date. Pro-EU Tory MPs want to force Mrs May’s hand to prevent a no-deal Brexit, if necessary by delaying the date of Britain’s departure beyond March 29. Meanwhile the rest of the EU has almost unanimously insisted it is not going to reopen the 585-page withdrawal treaty. With all of the political uncertainty surrounding the talks, international trade is sure to suffer. Finally, The International Monetary Fund has cut its forecast for the world economy for the second time in three months due in part to trade tensions, said in January that global growth would be 3.5 percent in 2019. Question How does the current international business environment impact South African business? Explain the impact of the current increasing trend towards protectionism on South Africa’s labour market developments Instructions Write an in-depth 750 word essay (including 4 references), referring to all the aspects mentioned in the question above. The assignment must be submitted as a word-processed A4 document (1.5 spacing, double sided printed and correctly referenced). Word count should be reflected on the cover page.

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January 6, 2020December 7, 2020

Gross Domestic Production (GDP)

Excluding executive summary, table of contents, appendix, reference list, etc. 1. Provide a brief introduction of the country (e.g., geographic, demographic and economic information) you have selected. 2. List out the current key national economic statistics of the country (see listed below) and briefly discuss the trends of these economic indicators over the past five years. Please evaluate what are the key factors contributing to these changes and support your argument with relevant references and examples. • Gross Domestic Production (GDP) • Consumer Price Index (CPI) • Inflation rate • Unemployment rate • Interest rate 3. Provide an explanation on the composition of the current GDP of your selected country and briefly discuss how has each GPD component changed over the past five years. Please also provide and the reasons behind these changes. Please support your argument with examples and references. • Consumption • Investment • Government expenditure • Net exports 4. Comment on the fluctuation of the CPI and inflation rate in the selected nation and briefly discuss how does that impact on the various aspects of people’s living standard (e.g., their consumption power, income level, employment status and so on). Please specify your evaluation based on the context of your select nation. 5. Imagine that you are invited to develop the fiscal policy with the reserve bank/central bank of your selected nation with the aim of stabilizing the inflation rate, reducing the unemployment rate and boosting the overall national economy. Please provide 2-3 valid advice based on your findings and the key economic statistics in your selected nation. To approach this part, you should make a valid judgement on the current economic status of your selected nation and identify the key issues emerged in the nation’s current economy. provide 2-3 suggestions in the context of this country. Your argument should be justified and supported by relevant references.

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January 6, 2020December 7, 2020

Contrast four market structures.

a) Briefly describe and contrast four market structures. (Hints: Use features of each market structure such as number of sellers, type of product, entry conditions, profits and losses in the short and long run, advertising, research and development and appropriate diagrams to answer this question. While your textbook is your first point of reference,you should consult other references in order to receive full marks. Use real life examples to support your discussion). (8 marks)
b) Choose an industry from your home country representing monopoly. Explain why it is a monopoly based on the characteristics of market structures outlined in part a). Analyse price and output decisions made by this monopoly using economic theory and illustrate it on a diagram. (Hint: this is your case study that you need to describe in details, provide relevant information, use table, diagrams where appropriate. You should use real data as much as possible). (8 marks)
c) Using your case study, evaluate the efficiency of your chosen monopoly. Explain it using economic theory and illustrate it on a diagram. (Hint: compare the allocation of resources and market outcomes between your chosen industry and perfectly Competitive Market structure using theory and real data from your case study). (6 marks)
d) Provide the case for or against the monopoly in your case study. Would you suggest to break up this monopoly into oligopoly? Explain using economic theory and diagrams. (Hint: use real life data from your case study. For example, if the monopoly has been investing in research and development, provide evidence with supporting references

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January 6, 2020December 6, 2020

Market description Changes

Purpose: This assignment aims to enhance students’ research and analytical ability through the application of their economic knowledge in the unit to compose a report. The recommended assignment structure is as follows: Table of content Introduction Market description Changes in market condition(s) and their impacts Conclusion List of References. Detailed requirements of the assignment Organize yourselves into groups of 4 or 5 students and give your group details to your lecturer(s) no later than Week 6 (for Normal Mode) or Week 4 (For Block Mode 1) and Week 8 (for Block Mode 2). Late submission of group member list can result in your being unable to submit the group assignment and awarded a mark of zero for the group assignment. Find a recent news article discussing a change in market condition(s) of an industry in 2018-2019, for example an observed change in market supply of a good/service or a change in consumers’ taste and preferences for a good/service. The industry must be ONE of the following in Australia: ? Agriculture production ? Property market ? Mining industry Using theories of economics, such as the demand and supply model and determinants of demand and supply, explain the impacts of changing market conditions on the price and quantity of goods or services traded. Support your analysis with market data. The assignment must, as a minimum, include: • an introduction; • a description of the relevant market including the product or service, degree of competitiveness, and market structure that characterises the market for that product or service; • an analysis (including appropriate diagrams) of how changing market condition(s) are influencing, or have influenced, or may influence price and quantity, and • a conclusion. The news article you collect must be attached to your assignment(.picture)

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January 6, 2020December 6, 2020

Optimal Point on a Budget Line

The optimal point on a budget line is derived by the intersection of the budget line and indifference curve. In order to understand about the “Optimal point on the budget line”, it is therefore very important to know about a budget line, indifference curve and their characteristics.

An indifference curve is a curve that shows combination of two products from which the same amount of satisfaction can be derived. This makes the consumer indifferent in nature and hence the name of the curve is given. The characteristics of the indifference curve can be stated as below:

Same level of satisfaction is obtained throughout every point in the curve and hence consumer does not have any preferences for either of the combinations.
The indifference curve slopes from left to right and is convex to the origin. The reason for this property is that when the consumption of one product increases the consumption of the other decreases and as a result the Marginal Rate of Substitution also keeps on reducing.
Higher indifference curve means higher satisfaction.
Two indifference curves can never intersect each other because if it does it will contradict the third characteristic that has been mentioned above.
Indifference curves are therefore parallel to each other.

The budget line shows the combination of two commodities that a consumer can buy with his given income at a particular market price. The properties of a budget line are as follows:

It is a negatively sloped straight line. The slope of the budget line is the negative of the price ratio, which is .

It functions on the income and the spending of the consumers.
The budget line can shift both parallel and non-parallel wise depending upon the change in the slope that occurs because of the change in either of the commodities.

The optimal point on the budget line is the combination of these curves, where the budget line is tangent to the indifference curve and where MRS is equal to opportunity cost, which can be explained with the help of the following diagram.

The above diagram shows the interaction of the indifference curve with the budget line. It can be seen that there are three indifference curves IC 1, IC 2 and IC 3. The IC 1 and 2 curves intersect at point A, B and C. We know that lower indifference curve means lower satisfaction and hence we will not consider the points A and C. Anything on the budget line can be afforded, anything below the budget line can be improved and anything above the budget line is not affordable. The IC 3 curve will not be considered therefore. Point B therefore is considered as the optimal point as it provides a higher satisfaction than point A and C. At point B, the slope of budget line and the slope of indifference curve is same, which means MRS is equal to (- ).