{"id":187,"date":"2015-02-13T00:06:49","date_gmt":"2015-02-12T13:06:49","guid":{"rendered":"http:\/\/casestudyhelp.com\/sample-questions\/?p=187"},"modified":"2018-01-30T20:44:45","modified_gmt":"2018-01-30T09:44:45","slug":"eco1002-individual-assignment","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/eco1002-individual-assignment\/","title":{"rendered":"ECO1002 Individual Assignment"},"content":{"rendered":"<p><strong><em>Sho<\/em><em>r<\/em><em>t Answer Questions\u2013based on Economic Theory<\/em><\/strong><\/p>\n<p><strong>I<\/strong><strong>nstructions<\/strong><\/p>\n<p>Do this assignment individually.<\/p>\n<ul>\n<li>You may\u00a0<strong>need to do research\u00a0<\/strong>of your own as well as reading the articles provided.<\/li>\n<li>Addresseachquestiondirectly.Youdo<span style=\"text-decoration: underline;\">not<\/span>needto presentanswersin essay orreportform.<\/li>\n<li>Make sure you explain your diagrams and answer all parts of each question.<\/li>\n<\/ul>\n<p>You don\u2019t need to write a lot to answer each question. The word limit is around 800-1500 words.<\/p>\n<ul>\n<li>Reference your answers if you are using in formation from another source using\u00a0<span style=\"text-decoration: underline;\">in-text referencing\u00a0<\/span>and include a<span style=\"text-decoration: underline;\">re reference list\u00a0<\/span>at the end of the assignment. You do not need to reference lectures and tutorials.<\/li>\n<li>5 marks are a warded for correct use of in text referencing and are reference list at the end of the assignment.<\/li>\n<\/ul>\n<p><strong>S<\/strong><strong>ome useful sources:<\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\">https:\/\/www.budget.gov.au\/2014-15\/index.htm<\/span><\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\">https:\/\/www.rba.gov.au\/statistics\/cash-rate\/<\/span><\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\">https:\/\/www.rba.gov.au\/media-releases\/index.html<\/span><\/strong><\/p>\n<p><strong>Pa<\/strong><strong>rt1: FirmPerspective[25marks] <span style=\"text-decoration: underline;\">Source1:<\/span><\/strong><\/p>\n<p><strong>S<\/strong><strong>tudents trim University of Canberra&#8217;s academic gown price monopoly<\/strong><\/p>\n<p><strong><em>Date: November 8,2014<\/em><\/strong><\/p>\n<p><em><span style=\"text-decoration: underline;\">Matthew Raggatt<\/span><\/em><\/p>\n<p>It&#8217;s the seemingly nevi table cost that goes with being handeda university degree,but two Canberra n shaved one their bit to save well-dressed students money on graduation day.<\/p>\n<p>Asthedebateoverderegulationandsoaringdegreescostscontinuesaroundthenation,Australian National University(ANU)alumniEricLiuandHaosiZhanghavestartedtheirownbusinesssellingdiscountedacademic gowns.Their challenge to the established market appears to have forceda 30 percent price cut from the University of Canberra.<\/p>\n<p>Mr Liu, 25, now studying a masters in law,said the pair&#8217;s Uni Gowns business began in July and was motivated more by saving students than making profit.&#8221;Basically the idea came from some of our friends at the ANU and UC who were complaining about how ridiculously expensive[graduation gowns]are,&#8221;he said.<\/p>\n<p>&#8220;We think of it as a business to challenge the universities&#8217; UCU nionmono poly[previously there was only one supplier for ANU Australian National University]and collapse the price.&#8221;A gown,hood and mortar board area mandatory part of graduation ceremonies around the nation. Uni Gowns sold about 30o ft heir$89 sets in the company&#8217;s first outing at the UC graduations last month.<\/p>\n<p>Mr Liu said the university has dropped their hiring price for the set from$130 to $110 as a result, which includes the mortarboard to keep,but went further to offer a special$89.95 purchase at the October graduation.<\/p>\n<p>\u2026The UCU nion, a wholly-own edentity of the university,has previously been the exclusive seller of the graduation wear.<\/p>\n<p>Union chief executive Joe Roff could not be reached for interview this week,but said UC welcome d competition particularly where students benefit.<\/p>\n<p>&nbsp;<\/p>\n<p>Source:https:\/\/www.canberratimes.com.au\/act-news\/students-trim-university-of-canberras-academic-<span style=\"text-decoration: underline;\">gown-price-monopoly-20141108-11ho19.html<\/span><\/p>\n<p>&nbsp;<\/p>\n<ol>\n<li>1. Based on the article what market form did the market for graduation regalia (a gown,hood and mortar board)at ANU most closely resemble be fore Mr.Liu started his Uni Gowns business?Why?Represent this using an economic diagram and there Levant price from the article.(10 marks)<\/li>\n<\/ol>\n<p>2. Once the students started their rival business(Uni Gowns) what form would the market for a graduation set at ANU have taken?Explain your answer with reference to theory. How does the price and quantity in this market compare to the price and quantity before the students started this business?(5 marks)<\/p>\n<p>3. Describe a business that youa nd your friends can start this year.What market form (i.e.monopolistic competition) is the market you want to operate in?How will this market form affect your profits?Drawa diagram to represent the market your business will be operating in and your individual cost curve You will need to do some research here.(10 marks)<\/p>\n<p><strong>Pa<\/strong><strong>rt2: MacroeconomicPerspective[35marks] <span style=\"text-decoration: underline;\">Source1:<\/span><\/strong><\/p>\n<p><strong>Au<\/strong><strong>stralia&#8217;smisery indexata six-yearhigh<\/strong><\/p>\n<p><strong><em>The Economy<\/em><\/strong><\/p>\n<p><strong><em>Date:August18,2014<\/em><\/strong><\/p>\n<p><em><b>The RBA has lower edits\u00a0growth and inflation forecasts for the year ahead, citing its expectation that mining investment will\u201cdecline much further\u201dand budget cuts at the state and federal level\u00a0<\/b><\/em><strong>Photo: Glenn Hunt<\/strong><\/p>\n<p>A deepening glooma cross the largest developed economy to escape recession during the global financial\u00a0crisis shaping up as one of the toughest challenges yet for Reserve Bank of Australia chief Glenn Stevens.<\/p>\n<p>Australia\u2019s misery index\u2013 the sum of unemployment and inflation rates\u2013is at 9.0,the highest since 2008,when the collapseofLehmanBrothersHoldingsfrozecreditmarketsaroundtheworldandtriggeredthedeepest recession in the US since the Great Depression.<\/p>\n<p><strong><em>E<\/em><\/strong><strong><em>levatedunemployment<\/em><\/strong><\/p>\n<p>Sincethosenumberswereissued,theunemploymentrate hasjumpedto a 12-yearhighof6.4percent\u2026<\/p>\n<p>The Australia nun employment rate surpassed the US level last month for the first time since 2007. The American misery index was 8.2 for June and for Britain it stood at 8.3.<\/p>\n<p>Australia\u2019s central bank also lowered its growth and inflation forecasts for the year ahead,citing its expectation that mining investment will\u201cdecline much further\u201dand budget cuts at the state and federal level. Prime Minister Tony Abbott\u2019s government is cutting jobs and spending and raising taxes to tackle a budget deficit estimated to have swollen to $49.9 billion in the year to June.<\/p>\n<p>The economy\u2019s spare capacity has meant private-sector wagesgre wat the slowest pace on record in thesecond quarter,statisticsbureaudatashowedlastweek, whiletheRBA hasforecastinflationwillcoolfrom3 percent<\/p>\n<p>lastquarterassistedbythegovernment\u2019sscrappingof acarbontax\u2026.<\/p>\n<p>Readmore:https:\/\/www.smh.com.au\/business\/the-economy\/australias-misery-index-at-a-sixyear-high-20140818-<\/p>\n<p><span style=\"text-decoration: underline;\">105<\/span><span style=\"text-decoration: underline;\">a<\/span><span style=\"text-decoration: underline;\">q<\/span><span style=\"text-decoration: underline;\">e<\/span><span style=\"text-decoration: underline;\">.h<\/span><span style=\"text-decoration: underline;\">tml#ixzz3AzABLpyc<\/span><\/p>\n<p><strong><span style=\"text-decoration: underline;\">S<\/span><\/strong><strong><span style=\"text-decoration: underline;\">ource2:<\/span><\/strong>TradingEconomicsandBudget2014\/15Data<\/p>\n<p><strong><em>C<\/em><\/strong><strong><em>h<\/em><\/strong><strong><em>art12: Output and unemployment gap estimates<\/em><\/strong><\/p>\n<p><strong><em>B<\/em><\/strong><strong><em>u<\/em><\/strong><strong><em>d<\/em><\/strong><strong><em>g<\/em><\/strong><strong><em>et2014\/15<\/em><\/strong><\/p>\n<p>1. Why might the misery index consist of measures of unemployment and inflation rates?What are the negative consequences of high unemployment (especially cyclical unemployment if it persists for a long time)andhigh inflation for the economy? (5 marks)<\/p>\n<p>2. Based on the information in the above article\u00a0<span style=\"text-decoration: underline;\">and your own research\u00a0<\/span>what is likely happening to Australia\u2019s real GDP in 2015?Explain why with reference to theory.(5 marks)<\/p>\n<p>3. Useanaggregatedemandandsupplymodeltodemonstratewherethe Australianeconomyiscurrentlyoperatingin relationtofullemploymentand explainthereasonsforth Basedonyourdiagram,theabovesourcesand yourresearchwhatphaseof the businesscycledoyouthinktheAustralian economyiscurrentlyin?Explainyourreasoning.(10marks)<\/p>\n<p>4. Basedonyourresearchwhattypeoffiscalpolicyisthe governmentpursuing at themoment?Doyoubelievethisisappropriategiventhestateof the economyat themoment?Explainwhyorwhynotwiththeaid of adiagram. (10 marks)<\/p>\n<p>5. Basedonyourresearchwhattypeof monetarypolicyistheRBA pursuingat themoment?(5marks)<\/p>\n<p>Donotforgettoincludea<span style=\"text-decoration: underline;\">reference list<\/span>foranysources apartfromlectures or tutorials.Youalsoneedtoinclude<span style=\"text-decoration: underline;\">in-textreferences<\/span>.Pleaseseereferencingguide ontheportal.Both of these willcountfor<strong>5marks.<\/strong><\/p>\n<p><strong>Buy assignment now with help of assignment Advisor<\/strong><\/p>\n<p style=\"text-align: justify;\" align=\"center\"><a title=\"hire best assignment experts online\" href=\"https:\/\/casestudyhelp.com\/MyOrder.php\"><img decoding=\"async\" src=\"https:\/\/casestudyhelp.com\/images\/hire-best-assignment-experts-online.gif\" alt=\"Hire Your Assignment Writing Expert for Collage\/University\" \/><\/a><\/p>\n<script type=\"text\/javascript\" charset=\"utf-8\" src=\"http:\/\/w.sharethis.com\/widget\/?wp=6.2.9\"><\/script>","protected":false},"excerpt":{"rendered":"<p>Short Answer Questions\u2013based on Economic Theory Instructions Do this assignment individually. You may\u00a0need to do research\u00a0of your own as well as reading the articles provided. Addresseachquestiondirectly.Youdonotneedto presentanswersin essay orreportform. Make sure you explain your diagrams and answer all parts of each question. You don\u2019t need to write a lot to answer each question. The word [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[90],"tags":[],"_links":{"self":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/187"}],"collection":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/comments?post=187"}],"version-history":[{"count":5,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/187\/revisions"}],"predecessor-version":[{"id":2910,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/187\/revisions\/2910"}],"wp:attachment":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/media?parent=187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/categories?post=187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/tags?post=187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}