72555 – ECON1020 – Semester 1 2022Assignment 2:MicroeconomicAnalysis

ECON1020 – Semester 1 2022
Assignment 2:
Microeconomic
Analysis Report (Instructions)

Assessment Task 2: Microeconomic Analysis Report (40%)
This document contains the following sections:
1. Task overview
2. Structure and Submission
3. Submitting the Final report on Canvas
4. Task Steps
5. Supporting Material
6. Criterion Rubric
Please read through all these instructions carefully for information on how to complete your assignment.
1. Task overview
• This assignment is based mainly on Block 1: The Market and Block 2: Government. Using models and theories of either (1) the market or (2) market failure and government (i.e. only material from lectures 2 to 6) perform a microeconomic analysis of one specific appropriate issue or phenomenon of your choice.
• Your task is to conduct microeconomic analysis of an issue that you select yourself, just as businesspeople and policymakers do. You will be assessed on what you learnt in the course by correctly choosing and applying definitions, methods and theories from lectures and tutorials 2-6. As this is a microeconomics assignment you should not write a general or journalistic report or use concepts from other courses not discussed in this course, including macroeconomics.
• A template document has been provided to use as your assignment document.
2. Structure and Submission
• Assessments task 2 has limit of 1500 words to be submitted on Canvas. Your submissions should be word processed and contain word count and bibliography. For every 10%-word count (not counting bibliography) over the limit you will lose 10% of the assignment marks until it reaches zero. There is no discretionary margin above this limit. There is no minimum, but you are advised to use all the words allowed for a more developed and detailed analysis.
• Your submission will receive an automatic Turnitin similarity score that should not exceed 30%. You should check this score using the tool on Canvas before submitting. Exceeding this limit raises the risk of your submission being subject to an academic integrity process. You must attach a completed coversheet with your submission (coversheet is provided with the submission template document).
• As per University regulations late assignments receive a 10% penalty per day until the mark reaches zero.
• Marks will be given according to the rubrics on Canvas.
• You must complete a coversheet attached with the submission template. Do not remove while submitting.
3. Submitting the Final Report on Canvas:
Follow the steps as advised below:
? Download the student template file.
? Complete the coversheet and checklist in the template file.
? Draft all the sections of the template file.
? Delete “all the Instructions in this template that have been written inside square brackets [ ]”.
? Label your final assignment file (cleaned template file) as
‘Analysis Report _ Surname_Givenname_TutNumber. (for example,
Analysis Report_Georgieva_Kristalina_Tut15’.)
? Run it through the “Turnitin Checking Tool” to check your assignment’s similarity score are within permissible limit.
? Submit your assignment (Word or PDF) in canvas.
4. Task Steps
See the table below:
Table 1: Assessment 2 Steps
1 Choose
topic and question Look at the business and economics news for ideas for an appropriate issue. It needs to fit the purpose of microeconomics (lecture 1) – a topical, important example of resource allocation with questions you can answer by applying microeconomic methods from the lectures relevant to the assignment. State the question, why it’s interesting and economically significant. Present facts or descriptive data to illustrate. The issue needs to be a specific (topical or historical) case. This means you will discuss a specific market for a product, service or factor of production in a specific context rather than a general economic issue or problem. Also make sure your topic does not fall within macroeconomics, which is not covered in this course.
2 Select your methods (concepts and models) Select the right method (i.e. microeconomic model, theory or tool from lectures and tutorials 2-6 to answer your question.
3 Explain your concepts and models Explain your method. Assume your reader needs to be explained every concept and model needed to follow your analysis, as if you are teaching your reader these.
4 Analyse your topic Apply the method to your issue. Report the different steps of your analysis and your findings. Typical analysis applies the tools from the relevant lectures to your specific case. Use relevant diagrams or models as they answer the question better than only words. If your chosen method comes with such models (e.g. diagrams or graphs), not using these in your assignment will result in a significant loss in marks.
5 Conclude Your conclusion will directly answer the question and maybe look at the big picture – the significance and limitations of your work. Provide answer to questions like: What have we learnt from your analysis for business or government policy? So what?
The objective of this assignment is to develop your independent thinking and research and prepare you for work life. Also, there is considerable scope to tailor your assignment (within the requirements above) based on your own style, chosen topic and method.
Important to Note:
? Discuss your chosen topic and questions with your tutor either in the class or over emails.
? Ensure you completed your assessment in good time. Managing this project and your time will be critical for your success.
5. Supporting Material
1. See the “Microeconomic Case Analysis” section from tutorial workshops 2 to 6 to get an idea on the topic, questions, and analysis. Summarized in the Table below:
Table 2: Sample Assessment 2 Topics from Lectures and Tutorials Workshops (DO NOT USE – FOR ILLUSTRATION ONLY)
Topics Potential Methods (concepts and models)
Tutorial 2: Tax on luxury cars Consumer Behaviour, Incentives and Demand Elasticity
Tutorial 3: “ATAR cut-offs to soar without more uni places to meet surging demand.” (Published in The Age, June
2020)
Shifts in Demand and Supply Curves, Comparative Statistics, price ceilings
Tutorial 3: Impact of 2011 Flood in Thailand on Computer Market Shifts in Demand and Supply Curves, Comparative Statistics
Lecture 3.2.3. Coffee Prices Comparative Statics
Tutorial 4: Rent Controls Comparative statics, Elasticity,
Government Intervention, Market- Based Regulation
Tutorial 4: “Victorian Government announces cash grants for business impacted by coronavirus lockdown, with focus on outdoor dining” (Published on
ABC News, September 2020) Government intervention, subsidies, market outcomes
Tutorial 5: Toll on busy roads Common Pool Goods, Externality,
Government Intervention, Market- Based Regulation, Opportunity Cost
Tutorial 5: “London New Year’s Eve fireworks made ticket-only for first time”
(Published on The Guardian, December 2014) Common Pool Goods, Public goods,
Externality, Government Intervention,
Market- Based Regulation, Opportunity Cost
Tutorial 6: ‘Net Enforcement Law ((NetzDG)’ of Germany Externality, Government Intervention, Direct Regulation, Paternalism
Tutorial 6: “China slaps up to 200%
tariffs on Australian wine” (Published on The BBC, November 2020) Trade restrictions, Government intervention, Consumer, producer and Social surplus
2. Additional (Web) Resources are provided on Canvas page “Reflections, further resources and references” under Block 1 & Block 2. This will help you to get an idea of the kind of articles or issues you can focus on while writing your report.
3. There is full module available to you on Canvas with slides and videos to help you with writing this report. This module covers all the aspects of academic report writing such as ‘choosing topic & questions, ‘finding information’, ‘Reading for understanding’, ‘academic writing’ ‘academic integrity’ and ‘communication etiquette’.
Refer to the module ‘Writing Economic Reports’ on canvas.
6. Criterion Rubric (Total 40 Marks)
Criterion Marks Comment
Criterion 1: Choice of an appropriate, original specific topic amenable to microeconomic analysis and formulation of an appropriate question about it. 8/40 marks Pertains to ‘Introduction’ section of the report. Complete step 1 from the Table 1: Assessment 2 Steps to
fulfill this criterion
Criterion 2: Selection of relevant course models and concepts from the course syllabus to analyse the topic. 6/40 marks Pertain to ‘Concepts and Models’ section of the report. Complete step 2 & 3 from the Table 1: Assessment
2 Steps to fulfill these criterions
Criterion 3: Correct explanation of chosen course models and concepts in sufficient detail. 6/40 marks
Criterion 4: Correct and detailed analysis, i.e. application of relevant course models and concepts to analyse the topic. 12/40 marks Pertains to ‘Analysis’ section of the report. Complete step 4 from the Table 1: Assessment 2 Steps to fulfill this criterion
Criterion 5: Drawing correct and relevant conclusions from analysis for economic and/or business policy. 6/40 marks Pertains to ‘Conclusion’ section of the report. Complete step 5 from the Table 1: Assessment 2 Steps to
fulfill this criterion
Criterion 6: General (Structure and Language) 2/40 marks –

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