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ECON6001_ECON6701 Microeconomics Analysis 1
发布时间：2023-05-14
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Description of the assignment: ECON6001_ECON6701 Microeconomics Analysis 1
Description of the assignment
Every group is assigned an economy and a proposed policy, which you can find in your group's tab "Pages". The goal of this assignment is to evaluate the effect of the policy on the economy in question. Below are suggested steps you should take when approaching this task.
1. Familiarize yourself with the economy and the policy and come up with a short reasonable story/explanation why the government would like to impose such a policy. What goal the government is trying to achieve?
2. Solve problems of each economic agent and formulate the general equilibrium conditions in terms of price ratios only. Check, check and check again that all of your calculations are correct. If there is a mistake, your numerical calculations will not converge. Report all derivations in the Appendix.
3. Solve problems and formulate the equilibrium conditions again with the suggested policy. Check everything several times. Report all derivations in the Appendix.
4. Use any program you prefer to solve the systems of equations you obtained (you'll find price ratios). Make sure to report what program you use and the code in the Appendix of the report. If you don't know what to use, we offer you a choice of Matlab and Mathematica that can be easily modified to your scenario. Also, report your fval for both solutions.
This link gives instructions on how to request and download Mathematica:
id=kb_article_view&sysparm_article=KB0011581&sys_kb_id=491d1de9db893f88c8a5773c3 496192e 
(https://sydneyuni.service-now.com/sm? id=kb_article_view&sysparm_article=KB0011581&sys_kb_id=491d1de9db893f88c8a5773c3496192e)
The above link also lists tutorials for beginners. In addition, this YouTube video tutorial is very
You can download Matlab from the USYD IT page:
5. Calculate all individual and total demands and supplies, consumer welfare, profits, government revenue/spending before and after the policy is implemented. Choose one of the consumption goods as a numerarie to do so. Report all calculations in the Appendix.
6. Propose a reasonable measure for the size of the economy. There are many ways of how to do it and they might depend on the specific economy, you need to propose only one.
7. Propose a reasonable measure for income or wealth inequality. There are many ways of how to do it and they might depend on the specific economy, you need to propose only one.
8. Interpret the total effects on the economy. Conclude whether the policy would achieve the desired goal or not. Summarize it in the report.
9. Analyze the transition path to the new equilibrium after the policy is implemented. There will be A LOT of different and contradictory effects. Your job is to figure out which ones are the leading
effects for each economic agent. Summarize it in the report.
This is a demanding assignment, so start working on it as soon as possible. The deadline is set on Friday May 26th at 6pm (Week 13).
Nick will hold office hours for the computational problems every week from Week 10 to Week 13: Office hours will be held 5pm - 6pm Wednesday (May 3, 10, 17 and 24).
You can attend office hours either on zoom (link in zoom page on canvas) or in person in Consultation room 223 (SSB level 2).
Also, here you can find an example that sets out our expectations for your report: example report-1.pdf () 
()
Latex source of the example report if some of you want to use it as a template: example report-
The weight of each component is as follows:
25% pre-policy equilibrium
25% post-policy equilibrium
5% summary of total effects
45% intuition and interpretation of the transition
