ECON1007 MACROECONOMICS
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ECON1007
MACROECONOMICS
You have been asked to write a report by a national not-for-profit welfare organisation on Gross Domestic Product (GDP). They have been criticised for not understanding economic growth and development. They are looking for a background paper that outlines how GDP is used in economics and its advantages and limitations.
They require the report contains the following six specific points.
(i) A definition of what is GDP and how is it measured (using terminology for people who do not know economics);
(ii) A brief history of the development/application of the concept of GDP and why it was created in the first place ;
(iii) An explanation and illustration of the difference between real and nominal GDP- and an explanation as to why these measures matter ;
(iv) Some data and your expert comments on the level and trend in Australia’s per capita GDP over the past two decades in a graph/chart or a table (but not directly cut and pasted from any sources.) The data need to be collected independentlyfrom reputable sources, such as the ABS or the Reserve Bank of Australia, and plotted in a graph or table using Microsoft Excel);
(v) A more detailed discussion of the limitations of per capita GDP as a measure of social and environmental well-being.
(vi) Some data to support and/or illustrate the discussion in part (v) (again independently collected and plottedfrom reputable sources).
Assignment Tips:
This assignment requires you to both collect data and do some independent research – so be sure to give yourselftime to this, as well as write a polished report. ’
Start early. Start with the textbook. Then move onto the provided readings (links below) and finally your own research. Write a first (rough) draft. Read it through - and ask someone not
doing the course to read it. Note their comments. Rewrite. Edit. Rewrite. Checkfor errors.
It is suggested the reportfollow the above structure with the text proportions of approximately Section (i) and (ii) and (iii) 30%; Section (iv) 5% (not including table or diagram itself); Section (v) 60%; Section (vi) 5% (not including table or diagram itself).
Data can be in either tabulated or diagrammaticform- but source information must be at the foot of either the table or the diagram. If using diagrams, axis labels must be clear, and if using tables, columns must be clearly labelled. CUT AND PASTE IS NOT ACCEPTABLE. The task of findings, recording and then presenting the data is part of the skill set being assessed – so
do not be tempted to ‘cut and paste’ – as this will be given afail mark.
References are not counted in the word count
The assessment rubric and mark allocation are outlined in the attached table.
The report requires definitions, data, and a discussion. A pass answer will be entirely correct, but demonstrate little insight or originality. Merely repeating the points made in the papers provided and using provided data will (even if entirely correct) only yield a bare pass.
A good answer, by comparison will not only be correct in all basic definitions, and data, but demonstrate some insight, originality, effort and judgement about the difficulties associated with the issues. It should reveal that you have considered the issues and demonstrate you have considered both sides of an argument. DO NOT ATTEMPT TO LIST AL THE POSSIBLE LIMITATIONS. SELECT A FEW (certainly no more than 3), RELEVANT ISSUES.
Be sure to cite sources properly and use full and correct references. A good essay will be carefully proof read and contain no silly errors.
An excellent answer will do all these things extremely well.
You need to undertake some independent research but please note thefollowing:
(i) merely quoting a ‘source’ is only the first step in identifying materials and by itself not sufficient to demonstrate that you have considered the strengths and weaknesses of the source’s argument
(ii) ‘over quoting’ or ‘over citing’ sources will not improve your essay- it may in fact lower your mark if the examinerfeels you have not put enough of the report in your own words. The major portion of your essay should be in your own words, and constructed after you have thought about the answer.
(iii) not all sources are equally valid (and some are positively wrong). It is your responsibility to check the accuracy and standing of the sources you cite. Essays that cite incorrect or wrong information will be marked down (and may be failed if sufficiently erroneous). Wikipedia, Baike. Merefa, Scholarpedia, Investopedia, tradingeconomics.com, Infoplease and similar generalist online sites are NOT acceptable sources.
The following page provides you with some starting materials. You should seek out others. Marks are NOT awarded for the most sources used, but for the judgment demonstrated in balancing conflicting arguments and evaluating the strengths and weaknesses of each argument. It is likely you will read many more sources that you cite in your essay which is supposed to distil the evidence you have discovered andpresent it in your own words.
AIMS AND OBJECTIVES OF MACROECONOMICS ASSIGNMENT
The assessment is primarily designed to advance your understanding and application of economic theory to a real world discussion.
ASSESSMENT CRITERIA
Assessing the quality of submitted material requires judgment by academic staff. Rather than a simple formulaic approach, markers combine a number of elements to assess the quality of an assignment. In broad terms, assessment of your assignments will take into account:
• Did you answer the question that was asked?
• Was the question answered fully or only in part?
• Does your answer demonstrate an understanding and correct application of economic concepts?
• Is the assignment written well?; Is it logical in sequence? Does the argument make sense?
• Do you provide theoretical support for the arguments used?
• Does the answer demonstrate a good grasp of the issues, or only a partial understanding?
• Is the response thoughtful and sophisticated or basic and simplistic?
• Where appropriate, were sources properly cited and referenced?
• Is the presentation at a professional standard or school quality?
For access to learning resources associated with assignment preparation see the learning hub
located at:https://lo.unisa.edu.au/course/view.php?id=4074
REFERENCES AND PLAGIARISM
You are expected to answer written questions in your own words. In written academic work you must acknowledge the source of your information (including set textbooks) but only those
references that are actually used should be cited. You should use the Harvard referencing
system. (see:https://lo.unisa.edu.au/course/view.php?id=3839)
ACADEMIC INTEGRITY
The university is committed to academic integrity and has policies and procedures in place to ensure academic integrity. More information about academic integrity (AI) can be found in the Assessment policies and procedures manual at: http://www.unisa.edu.au/policies/manual/Or
visit the AI Module websitehttps://lo.unisa.edu.au/mod/book/view.php?id=252142
ANY WORK CONTAINING WORK THAT HAS BEEN JUDGED TO CONTAIN PLAGIARISM WILL SCORE ZERO MARKS ; SERIOUS ACADEMIC MISCONDUCT MAY RESULT IN SUSPENSION FROM THE UNIVERSITY.
PENALTIES FOR LATE ASSIGNMENTS
Late assignments that do not have approved extensions will incur a penalty: for every day late, ten per cent will be deducted. No assignments will be accepted after 7 days past the due date.
2022-05-03