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What am I required to do in this assignment? You will investigate a real and current issue within the field of macroeconomics and must demonstrate that you can structure a study on a macroeconomics...

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What am I required to do in this assignment?
You will investigate a real and cu
ent issue within the field of macroeconomics and must demonstrate that you can structure
a study on a macroeconomics subject, identify information needs, draw from the body of existing knowledge on a particular
subject, compare theory with practice, construct reasoned arguments supported by evidence, and make logical conclusions,
all within a context of an individual written report, and strict deadlines
For this assessment, you are required to critically evaluate the major supply-side policies which could be used by a government
and their aims, by further debating the extent to which supply-side policies have been successful in improving the performance
of a country’s economy of your choice.
Submission Deadline Marks and Feedback
Before 10am on:
21/05/2021
20 working days after deadline (L4, 5 and 7)
15 working days after deadline (L6)
10 working days after deadline (block delivery)
Click or tap to enter a date.
Unit title & code Business Economics AAF045-6
Assignment number and title AS002 Individual report
Assignment type WR-I
Weighting of assignment 60%
Size or length of assessment 3000 words
Unit learning outcomes 1. Demonstrate a deep and systematic understanding of the way an economic system is
structured, the economic theoretical and methodological approaches and the outcome of
their applications.
2. Develop critical responses to existing economic theoretical disclosures, the structure of
our economy and the behaviour of economic entities, and be able to decompose economic
models to critically apply them to real economic situations, evaluates their effectiveness.
2
What do I need to do to pass? (Threshold Expectations from UIF)
In order to pass Assessment 2 you will need to:
• Demonstrates knowledge of market structure in the macroeconomic field and awareness of cu
ent evidence and
issues.
• Research the relevant literature in order to identify patterns of different economic behaviour, compare the various
points of view and develop own perspective.
• Present evidence of economic behaviour in a clear and concise way
How do I produce high quality work that merits a good grade?
Assessment of a student’s work in a particular task is a judgement of the extent to which the student has attained the unit’s
learning outcomes (ULO) covered by that task. To begin with understanding what the assigned question is about, is essential.
Students need to demonstrate that understanding the course content, can expand upon their existing knowledge and go above
and beyond the expected standard. In order to produce high quality work that merits a good grade, the students should
clearly demonstrate a critical and sophisticated understanding of the topic, with a high degree of competence and have
excellent usage of relevant literature, theory and methodology.
How does this assignment relate to what we are doing in scheduled sessions?
The assignment offers you the opportunity to further practice what you learn in the sessions, particularly, the material and
class activities covered in weeks 2 and 4 about macroeconomic policy and data, business cycle, monetary and fiscal
policies.(Please see study guide on BREO).
How will my assignment be marked?
Your assignment will be marked according to the threshold expectations and the criteria on the following page.
You can use them to evaluate your own work and consider your grade before you submit.



3
Category Pass – 40-49% Pass – 50-59% Commendation – 60-
69%
Distinction– 70%+
Introduction
15%
Weak introduction of
economic policies.
Paper’s purpose is
unclea
structure is
weak or missing.
Basic introduction
about supply side
policies that states
topic but lacks
interest.
Structure is somewhat
clear and arguable.
Proficient introduction
about economics
policies that is
interesting and states
topic.
Structure is clear and
arguable statement of
position.
Exceptional introduction
about economics policies that
grabs interest of reader and
states topic.
Structure is exceptionally
clear, well-developed, and a
definitive statement
Literature Review
40%
Information has little
to do with economics
policies for the
country chosen.
Information has weak
or no connection to
the task References
are not cited
co
ectly.
Information relates to
economics policies of
the country chosen,
ut few details and/or
examples are given.
Shows a limited variety
of sources. References
are not cited co
ectly
Adequate information
elates to economics
policies for the country
of choice. Paper, is well-
esearched in detail and
from good sources.
References are co
ectly
cited
Economics policies for the
country chosen is
exceptionally researched,
contains reviewed articles that
elate to the argument in a
logical manner. References are
co
ectly cited
Analysis &
Discussion
20%
Limited connections
made between
evidence and theory.
Lack of analysis.
Some connections
made between
evidence and theory.
Some analysis.
Consistent connections
made between evidence
and theory
Good analysis.
Exceptionally critical, relevant
and consistent connections
made between evidence and
theory. Excellent
analysis/discussion.
Conclusion
15%
Lack of summary with
no clear conclusion of
the topic
Basic summary of the
topic with some final
concluding ideas.
Introduces no new
information.
Good summary of the
topic with clear
concluding ideas.
Introduces no new
information.
Excellent summary of
argument with concluding
ideas that impact reader.
Introduces new information.
Referencing and
Citation
10%
E
ors in Harvard
Style detract
substantially from the
paper. Reference and
citation e
ors
detract significantly
from paper
E
ors in Harvard Style
are noticeable. Two or
more references or
citations missing or
inco
ectly written
Rare e
ors in Harvard
Style that do not detract
from the paper. One
eference or citations
missing or inco
ectly
written
No e
ors in Harvard style
All references and citations
are co
ectly written and
present.
Answered 2 days After May 18, 2021

Solution

Harshit answered on May 20 2021
163 Votes
TABLE OF CONTENT
    SL. NO.
    CONTENT
    PAGE NO.
    1
    INTRODUCTION
    2-4
    1.a.
    OBJECTIVE OF REPORT:
    2
    1.b.
    ECONOMIC POLICY 
    2
    1.c.
    MACROECONOMIC
    2
    1.d.
    AGGREGATE SUPPLY AND AGGREGATE DEMAND
    3-4
    2.
    A DETAILED STUDY OF SUPPLY-SIDE POLICY
    5-7
    3.
    SUPPLY-SIDE ECONOMIC POLICY VS. DEMAND-SIDE ECONOMIC POLICY
    8-9
    4.
    STUDY OF SUPPLY-SIDE POLICY BY THE GOVERNMENT WITH SPECIAL REFERENCE TO INDIA
    10-15
    4.a.
    PRESENT ECONOMIC CONDITION OF INDIA
    10
    4.
    MAJOR SUPPLY-SIDE POLICY ADOPTED BY INDIAN GOVERNMENT
    10-15
    5.
    REFERENCE
    16
1. INTRODUCTION
a. OBJECTIVE OF REPORT:
This report will examine the application of macroeconomic supply-side policies to reduce unemployment, which has become a key macroeconomic issue in many countries, including the subject country, Australia, in recent times, exace
ated by the continuing pandemic situation. Governments are based on the government's political-economic ideology. Political adherents of certain ideologies would prefer a small government approach and encourage liberalisation, relying on the free market to ensure the most efficient allocation of resources. Politicians of a different persuasion may perceive inefficiencies in the so-called free market, where some parties are economically disadvantaged and see the need to exert a more interventionist approach to economic activities.
. ECONOMIC POLICY 
An economic policy is a set of actions designed to affect or regulate the economy's behaviour. The government is usually in charge of implementing and enforcing economic policies. Economic policies require decisions on government spending and taxes, and the availability of capital, interest rate, the money supply in the economy etc.
c. MACROECONOMIC
Macroeconomics is a field of economics concerned with the large-scale functioning of an economy. Microeconomics, on the other hand, is concerned with how individual economic factors, such as consumers and businesses, make decisions.
        Objectives of Macroeconomics
A government has four high-level macroeconomic objectives:
· Economic Growth: a high but sustainable rate of economic growth
· Full employment: Minimise unemployment Low inflation: Price stability
· Equili
ium in Balance of Payments: The difference between exports and imports should not be large, as a large surplus or deficit would be harmful to the economy. (Bodenstein, M., Gue
ieri, L. and LaBriola, J., 2019)
d. AGGREGATE SUPPLY AND AGGREGATE DEMAND.
· Aggregate Supply: Aggregate production Supply in economics refers to the overall supply of goods and services that companies in a national economy sells to market for a given period. It is the overall value of goods and services that businesses can offer in the market at a specified price range. The relationship between the price level and the economy's demand is known as aggregate supply.
· Aggregate Demand: Aggregate demand is a macroeconomic concept that refers to the overall demand for domestically manufactured products, such as consumer goods, utilities, and capital goods. To get aggregate demand we add anything bought by individuals, businesses, governments, and via exports and minus the portion of demand met by foreign producers via imports. (Dean, E., Elardo, J., Green, M., Wilson, B. and Berger, S., 2020)
In macroeconomics, an essential subject for politicians, who are running, or seek to run a large economy, there are two important concepts known as aggregate supply and aggregate demand which can be analysed in the model of aggregate demand andaggregate supply.
Macroeconomics Policies are
oadly classified into two categories. Supply-side policy and Demand Side Policy.
· Supply Side policy- Supply-side policies are a set of policies aimed at lowering costs, increasing efficiency, productivity, and international competitiveness so that the economy can grow without raising inflation. The following are some examples of supply-side policies:
· Reducing marginal tax rates
· Improving labour flexibility and mobility
· Improving schooling, qualifications, and training
· Deregulating industries traditionally controlled by state monopolies
· Eliminating labour market imperfections Incentives to encourage industry ‘start-ups'
· Infrastructure improvements
· Improving labour flexibility and mobility
· Demand Side policy- The aim of government policies to boost economic growth by maximising aggregate demand. An example of a supply-side policy is:
· Tax cuts and increased federal spending
· Interest rate cuts
2. A DETAILED STUDY OF SUPPLY-SIDE POLICY
As already defined, the main objective of the supply-side policy is to increase productivity in the economy. To achieve this government introduces business-favourable policy like cutting the tax rate, making labour laws more business-friendly, deregulating compliance provisions, infrastructure development, free trade agreements with a different county. The working methodology of these policy has been
oadly discussed below:
· Implementing the Supply-side policy by using the tax system to offer incentives to help production protentional rather than changing demand. This usually entails lowering direct tax rates, such as income and corporate taxes. The unemployed workforce will be encouraged to return to work, and working workers will be encouraged to work harder. Lowering corporate taxes encourages entrepreneurs to start businesses, boosting national productivity.
· Supply-side policy relating to labour regulation include easing labour laws, abolishing restriction, making labour code business-friendly, abolishing restrictive practices, easing union/ trade union norms, discouraging labour strike promotes greater labour market competitiveness. Further measures to improve labour mobility increases the availability and flexibility of a quality labour force for the production process.
· Government policy relating to human resource growth involving better education and training ensures availability of resilience versatile and skilled labour force. To do so government should increase its spending on education and training, launch a skill development programme for the youth population of the country. The government may also formulate and shape teaching cu
iculum and requirements in school and colleges establish and enforce teaching requirements, as well as require schools to include a skills aspect in their cu
iculum.
· To increase the performance of public undertakings revamp policy should be adopted to make public sectors more efficient. The introduction of...
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