Description/Focus:
Assignment 2 – Microeconomic Issues and their Impacts and Responses
Value: 40%
Due date: 0900 Monday Week 12
Length: 5-8 A4 pages plus references and appendices.
Task:
Refer to assignment instructions.
Preparation:
Students are to identify a contemporary microeconomic issue, research the effects of the issue upon firms, businesses and consumers, and critically evaluate their responses to the issue.
Presentation:
Assignments are to be typed and submitted via Learnline.
Assessment criteria:
As per Assignment 2 Assessment Rubric.
Assignment Question: The High Australian Dollar:
The high Australian dollar has been the centre of much attention since 2007/2008 Global Financial Crisis (GFC). The persistently high dollar against major currencies such as the Euro, the Yen, and particularly the United States (US) dollar which has more than halved in value against the Australian dollar in the last 10 years, has put a lot of pressure on Australian exporters and manufacturers.
TIPS
1. Select a topic, one in which you are interested, and for which there is enough information. If your topic is too broad you will have difficulty completing your report in the time allocated. Example: 'The effects of pollution' is too broad because there are so many effects of pollution. Narrow it down to 'The effects of pollution on Kakadu National Park' which is just about the right dimension.
2. Once you have chosen your topic find sources of background information to read. These sources will help you understand the broader context of your research and tell you in general terms what is known about your topic. Use information from a variety of reference sources. These sources include, books, journals, articles, magazines, newspapers, internet and so on.
3. Organise and analyse all the information you have collected and develop an outline of your ideas. An outline shows your main ideas and the order in which you are going to discuss them.
4. Write the main body of your report from the materials and data you have collected.
5. Summary and conclusion.
6. Prepare a title page, table of contents and a bibliography. List of references – include all references used for the assignment and cite them correctly using the CDU Harvard Referencing System.
I hope the above steps are of help in writing your research report
STEPS IN THE ASSIGNMENT:
1. Choose a particular contemporary microeconomic issue for evaluation. As mentioned above, the issue could have arisen from a particular government or central bank policy decision, from an internal management policy or decision aimed at increasing the competitive capability of a firm or business organisation, or as a result of a cyclical event in the national or global economies. The issue chosen could be one from the list below or another of the student's own choice. However, the topic must be related to the Australian economy.
2. Critically evaluate the issue in terms of its effects upon businesses, consumers or a particular firm, including how the affected parties have responded, or plan to respond.
3. Write a report (in the nature of a business report) on the microeconomic issue and its effects upon businesses and/or consumers and evaluate their response to try and address the adverse impacts of the issue. The length of the report is to be around five to eight A4 pages, plus a list of references and any appendices at the end.
4. Structure of the report should be based around the following headings:
• Executive Summary - this will be the first page and will be a summary of the key points in the main body of the report that follows. Hence the Executive Summary should be written last, as it does not contain any new material but merely summarises the key points about what is already written.
• Introduction and Background – including a description of the microeconomic issue, the sectors of the economy (firms, businesses and/or consumers) impacted by the issue, how they are impacted in terms of such things as profitability, capital investment, production, consumption, risks to business operations etc.
• Evaluation of Business or Consumer Response – including a description of how the affected sectors of the economy have responded, whether or not their response has achieved the outcomes intended and whether there were any unintended consequences arising from their response.
Conclusion – stating whether or not, on balance, the business or consumer response could be regarded as reasonable in the circumstances (include reasons), what short term benefits or harm to the business or economy resulted, and a conclusion as to whether or not longer term benefits or harm to the business or economy might be expected in future as a result of their response.
• References – include all references used for the evaluation and report, and cite them correctly using the CDU Harvard Referencing System.
• Appendices - attach any supporting tables, graphs, media releases etc. as appendices at the end. All appendices attached must be referred to somewhere in the report.