
Assessment Task | Due Date | % | SILOs Assessed |
Individual Assignment (1,000 words) | 2 May, 11pm | 30 | 2, 3, 4 & 5 |
Submission Details | |||
The assignment is to be submitted through Turnitin on the LMS. | |||
Grading Criteria and Feedback | |||
The assignments will be graded according to a rubric. | |||
Description of Task | |||
Find a real world example from 2021-‐22 of a change in market conditions, for example an observed change in prices or the quantity of a good or service. Using theories of economics, such as the demand and supply model, explain the impact of changing market conditions on the price and quantity of goods or services traded. The real world example: will be sourced from newspapers or other media.be for a specific city, country or global and over some time period.illustrate a change in market conditions. Intended Learning Outcomes: Represent and explain fundamental economics concepts using text, diagrams, equations and other media (SILO 4).Explain how prices are determined and predict the effects of changes in market conditions on prices and quantities of goods and services (SILO 3 & 4).Critically analyse in writing the impacts of government policy and external shocks on markets, using a range of scholarly and news media sources (SILO 2, 3, 4 & 5). Purpose and aim: This assessment requires students to actively engage with media to reflect on the economic issues and to better understand the function of markets and how public policy interacts. Assignment details The assignment must, as a minimum, include: an introduction;a description of the relevant market including the product or service, location and degree of competitiveness;an analysis (including appropriate diagrams) of how changing market conditions are influencing or have influenced or may influence prices, anda conclusion. This assignment must be:word processed in 12 point font at 1.5 spacing;properly referenced using the Harvard style, andsubmitted via Turnitin by 11pm on the due date. Sources (references) It is expected that you will reference a range of resources (e.g. the text book, news media, industry reports, the ABS and other sources). The Lib guide on the LMS provides useful links to industry reports, the ABS statistics and also information on referencing using the Harvard style. |
