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HC1072 Economics and International Trade Assessment Details and Submission Guidelines Trimester T1 2020 Unit Code HC1072 Unit Title Economics and International Trade Assessment Type Individual...

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HC1072 Economics and International Trade
Assessment Details and Submission Guidelines
Trimester T1 2020
Unit Code HC1072
Unit Title Economics and International Trade
Assessment Type Individual Assignment
Assessment Title Economic Analysis of the Australian Market
Purpose of the
assessment (with ULO
Mapping)
To complete this assessment, students are required to:
1. Develop a
oad understanding of the principles of macro and
microeconomics in an economy.
2. Analyse economic environment nationally and internationally and its
influence on business and national economic performance.
3. Critically analyse government’s fiscal and monetary policy and their
influences on the economy and business in general.
4. Comprehend how economies benefit from international trade.
5. Synthesize theoretical and practical knowledge of economics for
application in work-life situations.

Weight 40 % of the total assessments
Total Marks 40
Word limit No more than specified in each section in the detailed task list
Due Date XXXXXXXXXXMicroeconomic Analysis 5pm Friday 22 May 2020, Week 8
Video Presentation 5pm Friday 05 June 2020, Week 10
Macroeconomic Analysis 5pm Friday 12 June, Week 11
Submission
Guidelines
• All work must be submitted on Blackboard by the due date along with a completed
Assignment Cover Page.
• The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm
margins on all four sides of your page with appropriate section headings and page
numbers.
• Reference sources must be cited in the text of the report, and listed appropriately
at the end in a reference list using Harvard referencing style.
• Submitted work should be your original work showing your creativity. Please ensure
the self-check for plagiarism to be done before final submission in accordance with
SafeAssign Student Guide in Black Board. As a guide, a similarity score of over 20%
is considered as excessive except in the cases where the similarity is caused by the
use of template provided by the lecturer, references or sources of data. Please note
that it can take 48 hours for the self-check report to be available for your viewing.
• You are required to submit the assignment at HC1072
Assessments/Individual
Assignment Information and Submission link on Black Board. There are 3 separate
links for your 3 tasks. Always keep an electronic copy until you have received the
final grade for the Unit. Please make sure that you submit the co
ect file. Any
appeal relating to submitting wrong files after the deadline will not be
considered.

Assignment Specifications
Assignment Tasks

The assignment task is a written analysis of any published article regarding the Australian Market
(newspaper, magazine or website) from 01 Jan 2020 and onwards. Your task is not to research and
provide data. You are instead ask to analyse an event using your knowledge of economic principles.
HA1022 Principles of Financial Management Group Assignment XXXXXXXXXXPage 2 of 7

You will be required to apply the economic concepts you have learned in class to interpret events
eported in your article.

Task 1: Choose your article. The first come, first served rule will apply. No two persons can use the
same article for the assignment. Register your article by sending an email to XXXXXXXXXX.
Your email should state:
a) HC1072 Individual Assignment by Name, Student ID
) Article Name/Title
c) Date Published and Autho
Writer
A response will be sent. It will indicate, APPROVED or NOT APPROVED. Do not start your work unless
you have the email response.

Task 2: Ensure that a full printed copy of your article is saved as part of the Appendix of your paper.
Deductions will be applied if the printed copy is not provided.

Task 3: Microeconomic Analysis (Part 1) – for submission on Week
In this part of your assessment, you will analyse the event reported in your chosen article based on
microeconomic concepts learned in class. Ensure that you have the full print out of the article in the
Appendix of your paper.

Task 4: Individual Video Presentation (Part 2) – for submission on Week
In this part of your assessment, you will summarise in a video, all your findings from your analysis.
This applies for both microeconomics and macroeconomics. You can still finalise your written paper
afterwards but here you will ve
ally report your findings. Your video should be for a minimum of 8
minutes and maximum 15 min. You will be required to show your face in some part of the video.
Please state your full name and student ID clearly at the start of the video. Voice over is allowed with
powerpoint slides. But remember, we will match your voice and photo for identity checks.

Task 5: Macroeconomic Analysis (Part 3) – for submission on Week
This is your final paper and should include both Microeconomic (Part 1) and Macroeconomic Analysis
(Part 2) and the full print out of the article in your appendix.

Refer to the below table for the specific task details and some guide questions for your analysis.

Assignment Structure should be as the following:

Requirement/s and Guide Questions
Event/Product/Company Description (2 marks, up to 250 words)
a) Elaborate on the event being reported in your chosen article. Why did you choose to
analyse this event?
) What are the products and services being sold? What is the significance to the
Australian Economy of the product/service?
c) Who are the parties involved? Identify who is the supplier and who is the consumer
in the event.
Microeconomic Analysis (Part 1)
Demand and Supply (5 marks, up to 600 words)
In this part of your paper, you are required to discuss the Demand and Supply interactions.
a) What are the Determinants of Market Demand for your chosen event? How do these
determinants affect Total Demand?
mailto: XXXXXXXXXX
HA1022 Principles of Financial Management Group Assignment XXXXXXXXXXPage 3 of 7

) What are the Determinants of Market Supply for your chosen event? How do these
determinants affect Total Supply?
c) Who has power in the market? Analyse any shortage or surplus situation, if
applicable.
d) Characterize the elasticity of the product being analysed. Who bears the cost of any
price increase?
Industry Description and Market Structure Analysis (4 marks, up to 500 words)
a) Characterize the size of the industry and the level of competition.
) Identify the Market Structure in the industry. Discuss how market structure
influences the prices in the industry.
c) Identify the regulato
s of the industry. Comment on the extent of the regulator’s
power to ensure compliance within the industry.
d) Are there any industry groups that help regulate behaviour aside from regulators?
Externalities (3 marks, up to 250 words)
a) Aside from the initial buyer and seller that you have identified, are there any 3rd
parties affected by the economic event?
) Describe the impact to the 3rd party. Is it negative or positive?
c) What other actions or behaviour is triggered by the impact to the 3rd party? What
solutions are applied for the externalities you have identified?
Macroeconomic Analysis (Part 2)
GDP and Unemployment (4 marks, up to 500 words)
a) How much is the overall GDP contribution of the industry for the event reported in
your article? Which part of the GDP does the event affect (C, I, G or NX)? Explain the
expected effects on GDP (whether increase or decrease).
) Will the event increase or decrease unemployment? Discuss the impact on the
economy.
Fiscal Policy (3 marks, up to 250 words)
a) Describe the action taken.
) Is the policy expansionary or contractionary?
Monetary Policy (3 marks, up to 250 words)
a) Describe the action taken.
) Is the policy easy or tight?
Findings, Conclusion and Recommendations (4 marks, up to 500 words)
Based on a summary of your findings, comment on the economic health of the industry
(microeconomics) and the economy as a whole (macroeconomics). What further
ecommendations from regulators and industry experts can be applied to sustain the health
and development of the industry and the country? Do you agree with these
ecommendations? State why or why not.
Presentation of Paper (including Assignment Cover Page and Reference List) – 2 marks and
not included in word count


Marking criteria
Marking criteria Weighting
Event Description 2
Microeconomic Analysis - Part 1
a) Demand and Supply (5)
) Market Structure (4)
12
HA1022 Principles of Financial Management Group Assignment XXXXXXXXXXPage 4 of 7

c) Externalities (3)
Macroeconomic Analysis – Part 2
a) GDP and Unemployment (4)
) Fiscal Policy (3)
c) Monetary Policy (3)
10
Findings, Conclusion and Recommendations 4
Presentation of Paper (including references) 2
Subtotal (Paper) 30
Video presentation – Summary of Findings 10
Total 40
Example for Students: Note that the example provided is in draft form. Bullet points indicate the topics that
need to be elaborated on. You will need to write paragraphs. This is a structure for an analysis.
Article : 2020 Olympics Delayed to 2021 (ensure to have a copy of full article in the appendix)
Publish Date: 15 April XXXXXXXXXXPublished In: Indicate the source
MICROECONOMIC ANALYSIS
Event/Product/Company Description (2 marks, up to 250 words)
a) Elaborate on the event being reported in your chosen article. Why did you choose to analyse
this event?
• Olympics is a worldwide event that happens only every 4 years.
• I choose this event because I am interested to analyse why countries would spend
money and resources to hold such an event.
) What are the products and services being sold? What is the significance to the Australian
Economy of the product/service?
• Product/Service – Sports, Entertainment/Media, Travel, Hospitality
• Australia sets aside a significant budget for the development of athletes and
Answered Same Day Jun 10, 2021 HC1072

Solution

Komalavalli answered on Jun 11 2021
129 Votes
Microsoft Word - Assignment Cover Sheet revised including groups FINAL
Faculty of HigherEducation
Assignment Cover Sheet
    UnitCode
    HC1072
    Unit Name
    Economics and International Trade
    Assignment Numbe
    Individual Assignment 1
    Is this a Group or Individual assignment
    
If Group, pleaseprovide group number _________
    Due Date
    22 / 5 / 2020
Declaration
Complete this and attach as a front cover sheet to your Blackboard submission
We certify that:
1. This assignment is our own work. We have acknowledged and disclosed any assistance received in its preparation and cited all sources from which data, ideas, words(whether quoted directly or paraphrased) were taken.
2. This assignment was prepared specifically for this unit only.
3. The reference list is truthful and accurate and in Harvard referencing style.
    Student name/s
    Student numbe
[must be co
ect]
    Which section(s) did each person work on
    Joshua Russell Bunyamin
    ZL 2065
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
This cover sheet must be attached to your assignment
1. Event description:
Olympics is the event that is reported in the article. Olympics 2020 was supposed to held in Japan but due to the worldwide out
eak of COVID-19, the event is being postponed to the next year 2021. Olympics is not only the biggest international sports event but also a global financial enterprise. The hosting country is likely to spend billions of dollars on this event. I am always interested to understand the economic and social significance of the Olympics- whether Olympics is worth the money spent by the host country as well as the participating countries.
The products that is primarily sold in Olympics is the sports of various kind. But there are others services sold in this global event that includes entertainment, media, tourism, airline service, hospitality and many others.
Olympics is the biggest international sports event that is being held in every four-year hosted by different countries. The countries that hosts the Olympics spend billions of dollars – it is even difficult to comprehend the actual expenditure on staging this mega event.
Like several other countries, Australian Olympic Committee (AOC) is spending huge amount of money in participating this event. Australian athletes who are participating and winning the medals in this prestigious global event are national pride, inspiration to the youth of Australia and social cohesion. (Cleary, 2018)
Olympics games is a complex undertaking that involves several parties across the world. The host country like Japan in this year is the key supplier. The main stakeholders for this event are various level of government in the host country, the entertainment media, different levels of sports federations, national and international sponsors. The consumers are many - they are identified as spectators around the world, tourism and hospitality sector who provides the accommodation and food, airline industry, countries who are
2. Demand and supply:
Microeconomic theory suggests that demand for any product or service depend on various factors that includes income of the consumers, taste and preference of the consumers, price of related products, number of buyers, expectations of price rise in future. As far as the Olympics event is concerned, the demand determining factors are strikingly different than other. Definitely the GDP or the economic growth is a key demand determining factor to host the Olympics games. Population is not everything or the major dete
ing factor for Olympics. A big talent pool and the key resources to develop the talent is a primary requirement for hosting and participating Olympics. Willingness to spend on this resource plays a very important role here. For example, India is a populous country with 1.33 billion people with massive talent pool. Even then only handful of participants represent India because the country lacks the resources and willingness to spend on developing the enough talent pool. Thus, with the billion plus population, India is likely to have few Olympic medals. Despite the large population, poverty actually deters many gifted athletes from the countries like India, Bangladesh or Indonesia to reach their potential. On other hand, Australia has shown a remarkable economic performance for the last 29 years. It holds the record of longest recession free economic growth among the developed world. Hence Australia’s demand for participating and winning the Olympic medals is substantially high. (O'BRIEN, 2012)
When it comes about Olympic spending, it is all about the interactions between demand and supply. The demand is nothing but the marginal propensity to spend on this international mega event Olympics- that how much one country can spend and what is the willingness to pay. One one nation wins and takes home the Olympic medal, it is a measure of huge success. For example, Japan has more money thus it can afford an additional dollar of spending. The demand curve tends to be idiosyncratic here and it makes sense. The implication of such demand curve shows how different countries approach differently to Olympic games. Normal demand degerming factors like the ticket price of the event, hotel accommodation costs, air fare to attend the event, the existing exchange rate, income of the spectators are some of the factors that plays an important role here.
As far as the supply is concerned, it is the marginal cost of Olympics spending. The events are usually held in developed countries as they are better positioned with higher GDP and advanced infrastructure. The total supply chain of the host country involves several sectors, industries and agencies. The supply side factors revolve around several factors that includes total resources available in the country, availability of talent pool, infrastructural facilities like proving accommodation and transportation for such a huge gathering, the strength of hospitality sector. Above all, the cost of hosting and staging such a mega event have skyrocketed but the economic benefits supersedes the cost.
But this year, the world is experiencing an unprecedented public health crisis. The entire world is affected by this crisis and struggling to come out of this pandemic. Hence the supply and demand side factors are changing day by day. International Olympic Committee is working as responsible origination for long. With the consultation of the host county’s organizing committed., respective governments and the agencies IOC has announced to postponed the game in 2021. The postponement of the supply of Tokyo Olympic games is a difficult but no doubt a rational and judicious decision. At the cu
ent times, the priority is to protect...
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