Macroeconomics 1 (ECON1010)

Assignment 1, Semester 2 2021

Task overview

● Assignment 1 is based on Part A of the course. This assignment will consist of a set of tasks that reflect the type of practical written work and oral presentations that you will be expected to deliver in a real professional job.

● The focus of this task will be on sourcing, presenting and explaining macroeconomic indicators.

● You will be asked to present your work in the form of a presentation. This is the type of output you would be expected to produce in a professional working environment.

Due date: Friday 13 August 2021 (end of Week 4)

Marks: 10%

Relevant Course Learning Outcomes: 1, 5, 6

Part 1: Explaining economic indicators

● In this course, we are learning about the various types of macroeconomic indicators that are used by economists to understand what is happening in the economy.

● Choose one macroeconomic indicator and explain in 4-5 sentences :

● Using simple everyday language, how would you explain what this indicator measures? Imagine you are talking to someone who has limited economic knowledge.

● What does this indicator tell us about overall economic conditions and what phase of the business cycle we are in?

● How does the indicator relate to wellbeing?

● As a guide, this written task should come to around 120-150 words in total. If you go above 5 sentences points, your additional words will not be considered by the examiner.

Part 2: Gathering economic data

● Source the original data for this indicator from an official statistical agency. The data can be for Australia or any other country of your interest. You should look for data across multiple years. The time period can be of your choice. If you have any doubts about the suitability of your choice of indicator, check with your Tutor during your tutorial.

● Download the data in an Excel spreadsheet

● Use the data in your spreadsheet to create your own graph which shows how this indicator has changed over time. Choose a chart type that is appropriate for the indicator (eg. vertical bar graph, line graph).

● Your graph must include all key elements: title, axis labels, units of measurement, time period, and your data source. Be sure to mention the country that you are analysing in the title of your graph. It is essential to cite the source of your data as proper professional practice.

Part 3: Creating a presentation

● Imagine you have been asked to give a presentation to your work colleagues where you report on this economic indicator. Your presentation will be based on the explanation you have written in Part 1 and the graph you have created in Part 2.

● Create your presentation using Powerpoint, containing 3 slides:

1) Slide 1: Title slide (including your name)

2) Slide 2: A written explanation of the indicator (your 4-5 sentences from Part 1)

3) Slide 3: Your graph (which you created in Part 2)

● Record yourself delivering a short oral/video presentation (1 minute maximum in duration). In this recorded component of your presentation, briefly explain:

● What is your indicator?

● Where did you source your data from?

● What does your graph illustrate what has happened to this indicator over time and what does this tell us about wellbeing of people in this country?

Where can I find economic data?

Your lecturer has referred to various different data sources throughout your lectures. Some datasets include:

● ABS https://www.abs.gov.au/

● RBA https://www.rba.gov.au/statistics/

● OECD https://data.oecd.org

● World Bank https://data.worldbank.org

● Asian Development Bank https://www.adb.org/what-we-do/data/main

● ILO Stat https://ilostat.ilo.org

● IMF https://www.imf.org/en/Data

● Our World In Data https://ourworldindata.org

What elements of the graph do I need to remember to include?

Title of your graph (remember to mention the country)

Time period

Label the vertical and horizonal axes

Units of measurement

Data source

The RBA has produced a useful guide on how to create a graph https://www.rba.gov.au/education/resources/learning-activities/pdf/activity-building-charts-using-rba-statistical-tables.pdf

How should I create my recording?

● You can use any program or application on your computer/device to create your recording, as long as you produce a professional final product.

● Your presentation should be in the format of a MP3 file (audio only), MP4 file (video) or a Powerpoint file with audio. If you have an application/program which enables you to record your audio with your slides, we encourage you to do this. For example, you can use the “Record Slide Show” function in Powerpoint.

● If you do not feel comfortable making a video recording showing you face, or do not have the technology to do so, it is ok to make an audio-only recording (MP3 file). You will not be marked down for this.

● It is perfectly ok to do your recording using the functions on your mobile phone if you do not have the functionality on your computer/laptop.

● We trust all students to follow these instructions and submit your own original work, including an authentic recording of yourself, as part of RMIT Academic Integrity policy.

Do I need to stick to the length limits?

● Yes. Fulfilling all requirements of the task is part of good professional practice.

● If you write more than 5 sentences, your additional content will not be considered by the examiner.

● If your presentation duration exceeds more than 1 minute, the additional content will not be considered by the examiner.

● This task will help you develop the capacity to express yourself succinctly and precisely – this is an important part of your communication skills.

Checklist

You will need to submit the following:

Presentation file (Powerpoint or PDF) containing your written explanation of the indicator and your graph

Spreadsheet of your data (Excel)

Video/audio presentation if not already recorded as part of your presentation slides (MP4 or MP3)

How to label your files:

Surname_Givenname_StudentNumber_TutNumber_File1

For example: Duflo_Esther_S1234567_TUT01_File1

What will I be assessed on?

Academic integrity

It is essential we conduct all our work, research and study activities with ethical integrity. This means that all academics and students act with the values of honesty, trust, fairness, respect and responsibility in all our learning, teaching and research activities.

For students, this means that the work that you submit for assessment is a product of your own efforts and work.

We recommend that all students take time to learn what “academic integrity” means in practice. This short video tutorial is a useful way to build your understanding https://emedia.rmit.edu.au/learninglab/content/introduction-academic-integrity

We also encourage all students to familiarise yourself with the conditions and values that are expected of all students in RMIT's Assessment Declaration. We have provided a copy of RMIT’s academic integrity policy for you on the next slides.

Academic integrity policy at RMIT

RMIT's Assessment Declaration

● I have not impersonated, or allowed myself to be impersonated by any person, for the purposes of this assessment.

● This assessment is my/our original work and no part of it has been copied from any other source except where due acknowledgement is made.

● No part of this assessment has been written for me/us by any other person except where such collaboration has been authorised by the lecturer/teacher concerned.

● I have correctly acknowledged the re-use of any of my own previously submitted work within this submission.

● I give permission for my assessment response to be reproduced, communicated compared and archived for the purposes of detecting plagiarism.

● I give permission for a copy of my assessment to be retained by the university for review and comparison, including review by external examiners.

Academic integrity policy at RMIT (continued)

I understand that:

● Plagiarism is the presentation of the work, idea or creation of another person as though it is your own. It is a form of cheating and is a very serious academic offence that may lead to exclusion from the University. Plagiarised material can be drawn from, and presented in, written, graphic and visual form, including electronic data and oral presentations. Plagiarism occurs when the origin of the material used is not appropriately cited.

● Plagiarism includes the act of assisting or allowing another person to plagiarise or to copy my work.

● When you submit your assignments electronically via the Turnitin platform, you will be asked to declare that you have read, understood and agree to the content and expectations of RMIT's Assessment Declaration.

If you are unsure or concerned about the issue of plagiarism, please reach out and ask the teaching staff for advice and guidance. We are here to help in all aspects of your learning.

If you have any uncertainty or questions about the issue of plagiarism, or any other aspects of the assignment, the most important thing you can do is reach out and ask your teaching staff for advice before you submit your work. We are here to help you along all steps of your learning journey.

Ask your Tutor during your tutorial class, post your question on the Canvas Discussion page, or email your query to [email protected]