Posted: July 7th, 2015

economics

Assignment Task

Task

The purpose of the assignment is to allow you to demonstrate your mastery of theoretical concepts introduced in the unit, applied to a real-world setting. There are five questions, some dealing with general concepts and others becoming more directed in the information required.
You will also have a chance to demonstrate your understanding of regression, a fundamental skill in quantitative business analysis. The questions are phrased in an open-ended manner; the intention is that the assignment is as non-prescriptive as it can be while allowing you the academic freedom to explore and learn as much as you can.

Assignment guide
The setting for this assignment is the issue of unemployment and social security.

Assignment guide Question One – Background
Introduce and explain the concept of social welfare
Be sure to contextualise the remainder of the assignment

Question Two – Supply and Demand
Using the labour market, define and describe the laws of demand and supply
Use simple diagrams to illustrate the effect of elasticity on those laws

Question Three – Forecasting
Using the data provided, conduct a regression analysis
Comment on the strength of the derived regression
Use the regression to forecast future employment conditions

Question Four – Research
Research the concepts of money wages and real wages
Explain these two concepts and why they are important
Discuss how wage indices factor in broader economic terms

Question Five – Conclusion
Provide comment and outlook for the global employment market

Presentation (10 marks)
Ten marks are reserved for presentation and referencing

You should aim for 20 academic references

Assessment Pack

201 – Economic Decision Making

Assessment Assignment 1

Recommended Length 3,000 words

Format of your submission
As you are writing a consultative business report it is expected that your assignment will consist of:
• a title page
• an executive summary (not counted in the word count)
• a table of contents (with optional list of exhibits)
• the assignment body
• a list of references
• any appendices that are appropriate (these are not included in the word count, also note that appendices are not assessable).

(5 marks are reserved for assignment presentation)
Strong credible academic references are expected to be cited in the body of this report. Cite using the Harvard Referencing Style (now is a good time to start practicing how to cite using the style if you are unfamiliar). There should be no less than 10 references cited and it is also expected that at least 50% of your references will be strong academic references