DUE DATE AND TIME: Friday, 23 September 2022, by 8:00pm (AEST) PERCENTAGE OF FINAL GRADE: 40%
WORD COUNT: 2000 words
Description
This assignment is based on an article published in the AFR titled “Australia must have a new macroeconomic framework”. Please read the article and answer the following questions (using appropriate diagrams with reference to relevant evidence):
- The author claims “there needs to be continual fiscal support as the COVID-19 pandemic keeps on affecting the global and Australian”. Critically explain this statement by using AD-AS model. Limit your answer to this question 600 worlds. [10 marks]
- In the recovery phase of COVID19 of Australia, the author points out that we need a coherent approach with fiscal, monetary and climate change polices to achieve the best possible macroeconomic outcomes for our country. Explain why we need a coherent approach in our recovery phase of COVID19 by using AD-AS model. Limit your answer to this question 600 words. [15 marks]
- The author also argues “it would be counterproductive in the face of climate policy, which may cause a temporary spike in inflation due to changes in relative prices of energy, for a central bank to increase interest rates to tackle inflation”. Do you agree with this argument? Explain your own experience in the context of this argument. Limit your answer to this question 800 words. [15 marks]
Specific Requirements
Please go over the lecture slides, lecture recordings and the case studies carefully before attempting this assignment. You need to answer the questions based on our discussions in the lecture, resources provided in the lecture and other external resources. Please note that you need to provide clear references for your sources. The references should be provided in a consistent style. Please provide your answers in a Word Document where the page format will be single spaced, 1-inch margins everywhere (top, bottom, left, right) and 12- point Times New Roman font. There is no minimum required number of words. References, graphs, figures, and tables are not subject to word limit. Although you can work in groups, this is not a group assignment and you must submit answers individually.
Learning Outcomes
This task allows you to demonstrate achievement towards the unit learning outcomes. The ULOs are aligned with specific graduate learning outcomes – that is, the skills and knowledge graduates are expected to have upon completion of their studies – and this assessment task is an important tool in determining achievement of those outcomes.
If you do not demonstrate achievement of the unit learning outcomes, you will not be successful in this unit.
It is good practice to familiarise yourself with the ULOs and GLOs as they provide guidance on the knowledge, understanding and skills you’re expected to demonstrate upon completion of the unit. In this way they can be used to guide your study.
| Unit Learning Outcomes (ULO) | Graduate Learning Outcomes (GLO) |
| ULO 2: Analyse how external influences (e.g. technology, politics, natural disasters) impact on the operation of markets and economies. | GLO1: Discipline-specific knowledge and capabilities. GLO4: Critical thinking. |
| ULO 1: Evaluate the implications of strategic interactions between economic agents. | GLO 1: Discipline-specific knowledge and capabilities. GLO4: Critical thinking. |
| ULO 4: Evaluate the implications of strategic interactions between economic agents. | GLO1: Discipline-specific knowledge and capabilities. GLO4: Critical thinking. |
Submission
You are to submit your assignment in the individual Assignment Dropbox in the MBA703 CloudDeakin unit site on or before the due date.
When uploading your assignment, name your document using the following syntax: <your surname_your first name_your Deakin student ID number_[unitcode].doc (or ‘.docx’). For example, ‘Jones_Barry_123456789_MBA703.doc’.
Submitting a hard copy of this assignment is not required.
You must keep a backup copy of every assignment you submit, until the marked assignment has been returned to you. In the unlikely event that one of your assignments is misplaced, you will need to submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of detecting collusion and/or plagiarism.
When you submit an assignment through your CloudDeakin unit site, you will receive an email to your Deakin email address confirming that it has been submitted. You should check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after upload, and check for, and keep, the email receipt for the submission.
Marking and feedback
The marking rubric for this task is below and also available in the MBA703 CloudDeakin unit site – in the Assessment folder (under Assessment Resources). It is always a useful exercise to familiarise yourself with the criteria before completing any assessment task. Criteria act as a boundary around the task and help identify what assessors are looking for specifically in your submission. The criteria are drawn from the unit’s learning outcomes ensuring they align with appropriate graduate attribute/s.
Identifying the standard you aim to achieve is also a useful strategy for success and to that end, familiarising yourself with the descriptor for that standard is highly recommended.
Students who submit their work by the due date will receive their marks and feedback on CloudDeakin 15 working days after the submission date.
Extensions
Extensions will only be granted for exceptional and/or unavoidable circumstances outside the student’s control.
Students seeking an extension for an assignment prior to the due date should apply directly to the Unit Chair by completing the Assignment and Online Test Extension Application Form. Requests for extensions will not be considered after 12 noon, 23 September 2022. Applications for special consideration after the due date must be submitted via StudentConnect.
Late submission
The following marking penalties will apply if you submit an assessment task after the due date without an approved extension: 5% will be deducted from available marks for each day up to five days, and work that is submitted more than five days after the due date will not be marked and will receive 0% for the task.
‘Day’ means working day for paper submissions and calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date.
Calculation of the late penalty is as follows: this is based on the assignment being due on a Thursday at 8:00pm
- 1 day late: submitted after Thursday 11:59pm and before Friday 11:59pm– 5% penalty.
- 2 days late: submitted after Friday 11:59pm and before Saturday 11:59pm – 10% penalty.
- 3 days late: submitted after Saturday 11:59pm and before Sunday 11:59pm – 15% penalty.
- 4 days late: submitted after Sunday 11:59pm and before Monday 11:59pm – 20% penalty.
- 5 days late: submitted after Monday 11:59pm and before Tuesday 11:59pm – 25% penalty.
Dropbox closes the Tuesday after 11:59pm AEST time.
Support
The Division of Student Life provides a range of Study Support resources and services,
available throughout the academic year, including Writing Mentor and Maths Mentor online drop ins and the SmartThinking 24 hour writing feedback service at this link. If you would prefer some more in depth and tailored support, make an appointment online with a Language and Learning Adviser.
Referencing
Any material used in this assignment that is not your original work must be acknowledged as such and appropriately referenced. You can find information about plagiarism and other study support resources at the following website: http://www.deakin.edu.au/students/study-support
Academic misconduct
For information about academic misconduct, special consideration, extensions, and assessment feedback, please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next to the Unit Guide in the Resources area of the CloudDeakin unit site.
MBA703 T2 2022 – Assignment 2 Marking Rubrics
| Performance Levels/Criteria | N (0-11.7) | N (12-19.7) | P (20-23.7) | C (24-27.7) | D (28-31.7) | HD (32-40) |
| Use the AD-AS model to analyse continual fiscal support to contain the COVID- 19’s effects on the economy. ULO2, GLO1 & GLO4 (10 marks) | Provides an incorrect analysis of the fiscal support on the economy using the AD-AS model. Articulates incorrect assumptions about external and internal relevant factors. Incorrect interpretation and explanations of AD-AS diagrams to inform country level decisions regarding average pricing, and real GDP (which are the key indicators of any macroeconomic stability). | Provides an incorrect and/or limited analysis of the fiscal support on the economy using the AD-AS model. Articulates mostly incorrect assumptions about external and internal relevant factors. Mostly incorrect Interpretation and explanations of AD-AS diagrams to inform country level decisions regarding average pricing, and real GDP (which are the key indicators of any macroeconomic stability). | Provides a fair but limited analysis of the fiscal support on the economy using the AD-AS model. Articulates some relevant assumptions about external and internal relevant factors. Provides a fair but limited interpretation and explanations of AD-AS diagrams to inform country level decisions regarding average pricing, and real GDP (which are the key indicators of any macroeconomic stability). | Provides a correct but not fully substantiated analysis of the fiscal support on the economy using the AD-AS model. Articulates key relevant assumptions about external and internal relevant factors. Provides mostly correct interpretation and explanations of AD-AS diagrams to inform country level decisions regarding average pricing, and real GDP (which are the key indicators of any macroeconomic stability). | Provides a substantiated analysis of the fiscal support on the economy using the AD-AS model. Articulates most relevant assumptions about external and internal relevant factors. Correctly interprets and explains AD-AS diagrams to inform country level decisions regarding average pricing, and real GDP (which are the key indicators of any macroeconomic stability) | Provides a robust, substantiated and insightful analysis of the fiscal support on the economy using the AD-AS model. Clearly articulates all relevant assumptions about external and internal relevant factors. Correctly, comprehensively and insightfully interprets and explains AD-AS diagrams to inform country level decisions regarding average pricing, and real GDP (which are the key indicators of any macroeconomic stability). |
| Use the AD-AS model to justify the necessity of a coherent approach to recover from the economic shocks. ULO2, GLO1, & GLO4 (15 marks) | Provides incorrect justification of a coherent approach to recover from the economic shocks. Articulates incorrect assumptions about external and internal relevant factors. Incorrectly interprets and explains AD-AS diagrams to justify the necessity of a coherent approach. | Provides incorrect and/or limited justification of a coherent approach to recover from the economic shocks. Articulates mostly incorrect assumptions about external and internal relevant factors. Provides mostly incorrect interpretation and explanations AD-AS diagrams to justify the necessity of a coherent approach. | Provides fair but limited justification of a coherent approach to recover from the economic shocks. Articulates some relevant assumptions about external and internal relevant factors. Provides a fair but limited interpretation interpretation and explanation of AD-AS diagrams to justify the necessity of a coherent approach. | Provides mostly correct justification of a coherent approach to recover from the economic shocks. Articulates key relevant assumptions about external and internal relevant factors. Mostly correct interpretation and explanation of AD-AS diagrams to justify the necessity of a coherent approach. | Provides a correct and substantiated justification of a coherent approach to recover from the economic shocks. Articulates all relevant assumptions (but some of them are not so clearly explained) about external and internal relevant factors. Correctly interprets and explains AD-AS diagrams to justify the necessity of a coherent approach. | Provides a robust, substantiated and insightful justification of a coherent approach to recover from the economic shocks. Clearly articulates all relevant assumptions about external and internal relevant factors. Correctly, comprehensively and insightfully interprets and explains AD-AS diagrams to justify the necessity of a coherent approach. |
| Present an argument on how/if an increase in interest rate can tackle temporary inflation resulting from climate policy. ULO4, GLO1 & GLO4 (15 marks) | i) Provides a confusing/no discussion about how/if a rise in interest rate impacts the economy at the aggregate level. Incorrectly identifies most relevant challenges resulting from climate change. Incorrectly selects of most suitable micro/macro-level theories/models for each identified challenge. Incorrectly articulates the relevance of the chosen theories/models. Includes incorrect diagrams/graphs to illustrate and support the explanation. | i) Provides a limited discussion about how/if a rise in interest rate impacts the economy at the aggregate level. Incorrectly identifies relevant challenges resulting from climate change. Incorrectly selects micro/macro-level theories/models for each identified challenge. Mostly incorrect articulation of the relevance of the chosen theories/models. Includes mostly incorrect diagrams/graphs to illustrate and support the explanation. | Provides a fair but limited discussion about how/if a rise in interest rate impacts the economy at the aggregate level. Identifies some relevant challenges resulting from climate change. Selects some suitable micro/macro-level theories/models for each identified challenge. Fairly but inconsistently articulates the relevance of the chosen theories/models but applies them inaccurately. Diagrams/graphs to illustrate and support the explanation contain some errors. | i) Provides a sound but less nuanced discussion about how/if a rise in interest rate impacts the economy at the aggregate level. Mostly correct in identifying key relevant challenges resulting from climate change. Mostly correct in selecting suitable micro/macro-level theories/models for some identified challenge. Logically considers the relevance of the chosen theories/models but applies them with some inaccuracies. Creates mostly accurate (minimal errors) diagrams/graphs to illustrate and support the explanation. | (I) Provides a substantiated discussion about how/if a rise in interest rate impacts the economy at the aggregate level. Correctly identifies and explains most relevant challenges resulting from climate change. Selects most suitable micro/macro-level theories/models for each identified challenge. Logically but not thoroughly considers the relevance of the chosen theories/models and accurately applies them. Creates mostly accurate (minor errors) diagrams/graphs to illustrate and support the explanation. | Provides a compelling and substantiated discussion about how/if a rise in interest rate impacts the economy at the aggregate level. Correctly identifies and insightfully explains most relevant challenges resulting from climate change. Selects most suitable micro/macro-level theories/models for each identified challenge. Coherently articulates the relevance of the chosen theories/models and accurately applies them. Creates and seamlessly integrates neat and precise diagrams/graphs to illustrate and support the explanation. |
| Overall 40 | N 0 or above | N 12 or above | P 20 or above | C 24 or above | D 28 or above | HD 32 or above |
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